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The Massachusetts Biotechnology Council (MassBio) today released its State of Possible 2025 Report, a five-year strategic plan to define the future direction of the Massachusetts life sciences ecosystem and highlight the many systemic challenges that require attention for the cluster to stay ahead of the curve on scientific innovation. The report will also serve as a call to action to drive cross-industry collaboration in order to overcome shared challenges, capitalize on Massachusetts’ greatest assets, and develop strategic economic development.
Through interviews and consultations with government, academic, and industry leaders, this report, prepared by Deloitte, found that the Massachusetts life sciences community is expected to achieve balanced growth over the next five years. Some of the areas include expanding R&D beyond oncology and rare diseases as well as positioning the state as a center for medical technology.
The report also calls attention to some gaps for improvement needed for the industry to thrive and grow sustainably. Some of these gaps are the availability of funding and the lack of affordable space and an efficient transportation system.
For more information on the full report, click here.