Sweden’s nearly 4000 life science companies employed roughly 52,400 people in 2022 and had a net turnover of SEK 474 billion. Their combined merchandise exports amounted to approximately SEK 186 billion in the same year, which corresponds to nearly 10% of total Swedish exports and is thus greater than the exports of iron and steel, trucks and clothing combined. The industry’s increasing exports make it an important economic factor and a significant Swedish basic industry on a par with the forestry and automotive industries, states SwedenBIO.

“The export figures speak for themselves – the life science industry contributes strongly to Sweden’s economy and strengthens our position as a prominent research nation. The successes are largely the result of a combined investment in research and manufacturing. In order to maintain and strengthen Sweden’s position in the fierce international competition and to cater for future welfare, it is necessary to continue investing heavily in research, innovation and advanced production,” says Maja Neiman, Science Director at SwedenBIO.

Promising potential

The majority of the 3,838 companies included in the industry in 2022 are small and young, with promising potential in the form of intellectual assets. SwedenBIO’s barometer survey, which was answered by 207 life science leaders in October 2024, shows that most companies focus on global markets when further developing these assets.

Struggling to secure funding

The industry is struggling to find and secure funding. Funding is the top priority among business leaders ahead of 2025. At the same time, most life science executives are planning for business expansion and new product innovation.

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Competencies in demand

The most important competencies demanded by the growing industry are marketing and sales, research and development, and business development and leadership. The broad need for skills in life science thus becomes concrete.

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Other trends in Swedish life science 

  • The medtech segment dominates the industry, making up 57% of the business population.  
  • A majority of the companies have fewer than 10 employees.  
  • The industry is concentrated around three dominant clusters: Stockholm-Uppsala, Gothenburg and Skåne.
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About The Life Science Barometer

The Life Science Barometer is an annual survey produced by SwedenBIO, the industry association for the life science industry, with the aim of taking the temperature of the industry. 207 companies from all over the country have participated in this year’s survey, carried out in October 2024. The report is produced by SwedenBIO in collaboration with Medicon Village Innovation, Sahlgrenska Science Park, Stockholm Science City Foundation, STUNS Life Science and Citeline.

download the report here!