Two years after releasing results of an independent study analyzing the workforce landscape and future talent needs of the Greater Philadelphia region’s cell and gene therapy sector, we are pleased to release a new and updated report. Leaders representing industry, academia, and healthcare in our region provided significant input for this report, and Econsult Solutions, Inc. paired those insights with labor market data to develop this current and detailed workforce demand and supply study for the sector.
The 2019-2020 report illustrated Greater Philadelphia’s position as a leader in the cutting-edge research and development fueling growth of the cell and gene therapy sector. It also described Greater Philadelphia as the home to a growing community of new and expanding companies commercializing and bringing these life-changing products to patients. The study found that the associated cell and gene therapy workforce was expected to grow between 35 percent to 94 percent between 2019 and 2029, using mid-range growth estimates, with potential growth of 54 percent to 136 percent using high-range growth estimates.
The 2022 report reveals that the growth of Greater Philadelphia’s cell and gene therapy workforce has exceeded all 2019 projections and shows no sign of slowing down. The number of cell and gene therapy companies expanded from 30 to 50 since 2019, doubling the talent working in the sector. In 2021, the Greater Philadelphia region received $1.17B in NIH grants and more than $12 billion was invested in life sciences companies of that total, more than $3 billion was invested in the cell and gene therapy sector alone.There is currently $4 billion worth of real estate development underway representing 11 million square feet in new or converted space.
The pace and scale of this sector’s growth present innumerable opportunities for the region, and meeting the workforce demand will require thoughtful, collaborative, and inclusive strategies. New and innovative relationships among industry, higher education, and workforce organizations will be required to create skills training, concentrations, certificates, and joint programs to allow companies to grow to their full potential within our market.
We are committed to collaborating with partners on talent solutions that will support our region’s ecosystem to develop cutting-edge cures that hold the power to forever transform how health care is delivered to patients and essentially cure the incurable.
To learn more about Greater Philadelphia’s thriving life sciences ecosystem, please visit: https://selectgreaterphl.com/.