San
Francisco Bay Area, Boston Lead the World in Commercial Neuroscience
According
to Neurotechnology Industry Organization Report
Study Shows Neurotech Clusters Spur
Regional Economies Worldwide
SAN FRANCISCO - October
16 - In a new study published today by NeuroInsights and the Neurotechnology
Industry Organization, nine metropolitan regions around the world are leading
the way in innovating treatments for the largest unmet medical market, brain-related
illness. By developing the necessary infrastructure to discover and develop neurotechnology
- drugs, medical devices, biologics, cell-based therapeutics, and diagnostics for
the brain and nervous system, these regions are helping spur local economies
while fighting many of the most vexing medical problems of modern times, such
as Alzheimer's disease, depression, obesity, stroke, epilepsy and chronic pain.
The San Francisco Bay
Area and Greater Boston top the list, followed closely by New York/New
Jersey, Greater London, San Diego and Los Angeles/Irvine, according to the
new study "Neurotech Clusters 2010: Mapping the Business of Neuroscience,"
which was released today ahead of the Society for Neuroscience 39th Annual
Meeting in Chicago starting tomorrow.
"Regions looking to
generate high-paying jobs and long-term economic growth are in a race to tap
into the growth potential of neurotech," said Zack Lynch, lead author of the
study and Executive Director of NIO. "Neurotech today is a global industry
with companies and cutting-edge research in the U.S., Europe,
and Asia. Neurotechnology includes over 800
public and private organizations researching, developing and
manufacturing treatments for the nearly 2 billion people suffering from a
neurological disease or psychiatric illness."
According to NeuroInsights
and NIO, the top nine neurotech regions with composite scores are:
1.
San Francisco Bay Area, CA (100)
2.
Greater Boston, MA (98)
3.
New York/New Jersey (91)
4.
London, United Kingdom (84)
5.
San Diego, CA (83)
6. Los
Angeles/Irvine, CA (81)
7. Baltimore, MD (69)
8. Greater Philadelphia,
PA (66)
9.
Minneapolis, MN (53)
Other regions supporting
neurotech innovation include nascent clusters (Montreal, Canada; Basel/Zurich,
Switzerland; Tel Aviv, Israel; Seattle, WA; Stockholm, Sweden; Tokyo,
Japan) as well as regions to watch (Munich, Germany; New Haven, CT; Chicago, IL;
Shanghai, China, Cleveland, OH and Raleigh/Durham, NC).
The rankings are based on
three broad factors: number of neuroscience-focused companies, availability of
local risk capital and social infrastructure (universities, hospitals,
research institutes). The San Francisco Bay Area ranked first in number of
companies and risk capital, while Boston ranked first in social infrastructure.
Data gathered for the
report also reveals several other interesting regional trends. New York/New
Jersey is the leading region for public neurotechnology companies. Boston, MA
and Baltimore/Washington D.C. are the leading regions for neurotechnology
social infrastructure based on strong graduate programs and hospital rankings
in neuroscience related areas. The San Francisco Bay Area, Minneapolis, MN and
Cleveland, OH are major centers for neurodevice development.
"The neurotech industry
is growing steadily and currently generates nearly $150 billion in annual
revenue," said Casey Lynch, Managing Director at NeuroInsights. "We believe our
findings will be useful to entrepreneurs deciding where to locate their
enterprise to take advantage of local momentum as well as governments looking
to successfully nurture the growing neurotech industry."
The study is available
online at www.neurotechindustry.org/neurotechclusters2010.html and
www.neuroinsights.com/neurotechclusters2010.html
About NIO: Neurotechnology Industry Organization (NIO) is a non-profit trade
association representing companies involved in neuroscience, brain
research institutes and patient advocacy groups worldwide. Over 90
organizations have joined NIO in the first three years in an effort to
accelerate the development of treatments for brain and nervous system. NIO's
annual meeting will take place May 18-20, 2010 in Boston.
www.neurotechindustry.org
About NeuroInsights: As the neurotechnology market authority,
NeuroInsights helps investors, industry and society understand and profit
from the growth in the market for treatments of brain and nervous system
illnesses. NeuroInsights provides investment reports, market analysis,
industry events and strategic advisory services to large corporations, venture
funds, startups, governments and financial institutions.
www.neuroinsights.com
Contact:
Neurotechnology Industry
Organization
415-341-0193
Zack Lynch
Executive Director, NIO
415-279-7462
zack@neurotechindustry.org
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