So …you want to know where the US hotspots for clinical research are.
Image courtesy of www.mbbnet.umn.edu
Many people think of the hubs for clinical research as being on the East and West coast areas. California has long been known for incubating both biotech and medical technology companies. States surrounding the nation’s capital, Delaware, Maryland, Virginia, New York, Pennsylvania, the New England states, and even North Carolina and Florida are close to regulatory hubs such as the FDA , NIH, and the Department of Defense.
Image courtesy of www.grandviewresearch.com
Did you know that biotech and medical technology companies are popping up in many new areas of the country ?
According to the Cluster Mapping Project, led by Harvard Business School’s Institute for Strategy and Competitiveness in partnership with the U.S. Department of Commerce and U.S. Economic Development Administration, employment growth rates and business growth rates for both biopharmaceutical and medical device industries are led by states not typically in the starting line-up for these sectors. This table was developed from their interactive geographical maps of industry cluster statistics.
|Number of businesses in 2014||1. California||(381)||1. California||(865)|
|2. New Jersey||(141)||2. New York||(304)|
|3. New York||(137)||3. Florida||(295)|
|4. Florida||(124)||4. Texas||(276)|
|5. Texas||(107)||5. Pennsylvania||(244)|
|Businesses growth rate, 2010-2014||1. Idaho||(19%)||1. Wyoming||(19%)|
|2. Hawaii||(19%)||2. Alaska||(8.9%)|
|3. New Mexico||(16%)||3. Utah||(6.2%)|
|4. Vermont||(11%)||4. Maine||(5.7%)|
|5. Virginia||(14%)||5. New Mexico||(3.6%)|
|Employment growth rate, 2010-2014||1. Connecticut||(46%)||1. Idaho||(12%)|
|2. Wyoming||(37%)||2. Hawaii||(11%)|
|3. Arizona||(34%)||3. Delaware||(8.7%)|
|4. Montana||(33%)||4. North Dakota||(8.5%)|
|5. Maine||(22%)||5. Oklahoma||(7.5%)|
While the traditional hotspots are still hot, when you look at recent growth rates in employment and business growth, keep your eyes on these non-coastal areas, like Idaho, Wyoming, and New Mexico, and less obvious areas like Alaska and Hawaii for emerging opportunities in clinical research!