A new survey conducted by SwedenBIO shows that Swedish life science companies are more confident about future growth than they were before COVID-19, with 80% planning for new hires and expansion.
The survey shows a major upswing in the industry, following on from similar reports a year ago which demonstrated the strength and resilience of the sector. The pandemic has not delayed this projected increase, with many small companies in growth mode.
Helena Strigård, Director General, SwedenBIO, said these results: “Confirm our belief that involvement with other global life science hot spots opens more opportunities for collaboration and drives growth”.
The survey targeted pharmaceutical development companies with operations in Sweden and showed that as many as 80% of companies report that they will expand by recruiting more staff or consultants in the coming year.
62% of companies have a more positive view of their projections now compared to before COVID-19 hit, and only 8% report the opposite. The survey reveals evidence of additional company growth lies in the increasing numbers of international experts being appointed to boards and collaborations being signed.
Swedish life science companies, like others, have been affected by COVID-19 with delays and issues such as patient recruitment for clinical trials and raising capital, but according to the survey some companies have managed to use it to their advantage, identifying new opportunities and wanting to contribute to the development of better tests or treatments. Swedish vaccine companies are also involved in the production of COVID-19 vaccines.
SwedenBIO invites life science experts and stakeholders to a special NLSInvest conference program, live on April 19 and to Nordic Life Science Days Digital April 20-23, 2021, to which a record number of international investors have signed up together with big pharma representatives and a broad range of the region’s most innovative companies.