Life Sciences & Healthcare
Miami has positioned itself as a key player in the life sciences and healthcare field, focusing on biotechnology, pharmaceuticals, medical devices, health tech, and healthcare services.
100k+
Jobs
1,000+
Companies
$65,474
Average Salary
$4B
Sales in Bioscience Sector
#2
Largest Medical District in the US
Introduction
The Epicenter of Life Sciences & Healthcare Innovation
Miami is rapidly becoming one of the global hubs for sciences and healthcare innovation, driving transformative change across biotechnology, pharmaceuticals, medical devices, and health tech. The city is home to a vibrant ecosystem of over 1,000 life science companies and 100,000+ industry employees, driving significant economic growth. The Miami Health District, the second largest medical district in the U.S., houses numerous hospitals, research facilities, and laboratories, positioning the city as a center for health tech innovation. With venture capital funding on the rise, Miami is attracting cutting-edge startups that are transforming patient care and advancing clinical research.
The region’s proximity to Latin America fosters an influx of international life science companies, enhancing collaboration and knowledge exchange. Florida’s life sciences industry has grown its employment base by 4.9% since 2012, significantly outpacing national averages in drugs, pharmaceuticals, and medical devices. Notable companies like Medtronic, Novartis, and Miami-based OPKO are at the forefront of technological advancements, leveraging AI and innovative solutions to redefine healthcare delivery. As Miami continues to nurture its rich talent pool and innovative spirit, it is poised to lead the way in shaping the future of life sciences and healthcare on a global scale.
A Thriving Bioscience Ecosystem
Florida is at the head of a revolution in the life sciences, and Miami leads the way of this vibrant industry. The state boasts over 7,700 life science companies, employing more than 186,417 professionals across biotechnology, pharmaceuticals, and medical device manufacturing. Recent data indicates that Florida’s life science sector grew by 19% between 2016 and 2019, significantly outpacing the national growth rate, which stands at 2.2%. Notably, the drug and pharmaceutical establishments in Florida grew by 16%, double the national average, while medical device and equipment establishments expanded by 18%, tripling the national average. With estimated annual sales exceeding $4 billion from bioscience firms in South Florida, the region is witnessing a surge in both job creation and economic impact, further solidifying its status as a critical hub for innovation.
Pioneering Startups and Cutting-Edge Solutions
Miami is home to a flourishing ecosystem of startups revolutionizing healthcare delivery through technology and innovation. Companies like Modern Trials are leveraging patient data integration to streamline clinical trials, while Triangulate Labs has developed the Skinmap platform to enhance dermatological assessments. Notably, Intrivo has established itself as a leading player in COVID-19 testing with its On/Go tests, acclaimed for their accuracy at 98.2%. Additionally, Exscientia, the first AI-driven pharmaceutical company in Miami, is pioneering new drug design and development processes using artificial intelligence. This innovative spirit drives Miami’s life sciences industry forward, showcasing the city’s commitment to advancing healthcare technologies.
A Hub of Collaboration and Knowledge
The Miami Health District, the second-largest medical district in the United States, fosters an environment rich in research and collaboration. This hub houses prestigious institutions like the University of Miami’s Miller School of Medicine and Baptist Health South Florida, which are vital to advancing healthcare and medical research. With over 32,000 professionals in the state’s biotechnology, pharmaceutical, and medical device manufacturing sectors, Miami’s unique position as a gateway to Latin America enhances its appeal, attracting numerous international life science companies seeking to establish a presence in the region. Public-private partnerships, such as those formed with the Miami-Dade Innovation Authority, continue to support this ecosystem, ensuring that Miami remains a vibrant center for life sciences and healthcare innovation.
Top Organizations
The increasingly diversified life sciences and healthcare industries is as multifaceted as the city of Miami itself.
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