Defining the Bioscience Industry
Federal industry classifications do not establish one, stand-alone “bioscience” industry. Instead, a comprehensive definition of the biosciences must combine a series of very detailed, 6-digit North American Industrial Classification System (NAICS) codes that cover the range of primary bioscience industries. Battelle TPP, in its extensive strategic work around the U.S. as well as its national reports developed in concert with BIO, has developed a broad definition of the biosciences that combines 25 individual NAICS codes to span five major industry subsectors.
The Bioscience Industry Defined Across its Major Subsectors
This broad definition, while capturing a whole range of bioscience industry activities, is not completely applicable for all regions. Considering the regional industry make-up and MedTech’s membership, it was agreed that the relatively minor presence of the region in the agricultural biosciences would be set aside and the definition used would emphasis only the non-agricultural biosciences for this assessment.
This industry sector consists of firms that develop and deploy unique technologies and logistics competencies to transport therapeutics, biologics, sensitive medical devices and equipment, chemicals and other bioscience goods. It specifically includes merchant wholesalers focused on drugs and sundries and medical, dental, hospital equipment and supplies.
Drugs & Pharmaceuticals
This industry subsector is characterized by extensive R&D and high value-adding activities in developing new therapeutics, vaccines, biologics and diagnostic substances. Firms are specifically engaged in one or more of the following: medicinal and botanical manufacturing; pharmaceutical preparation manufacturing; in-vitro diagnostic substance manufacturing; and biological product (except diagnostic) manufacturing.
Medical Devices & Equipment
This industry subsector is comprised of firms engaged in research, development and manufacturing of medical devices and instruments. Devices and instruments include electromedical and electrotherapeutic apparatuses; analytical laboratory instruments; irradiation apparatuses; surgical and medical instruments; surgical appliances and supplies; and dental equipment and supplies.
Research, Testing & Medical Labs
This industry sector focuses on services rather than advanced manufacturing and production. It includes a range of activities, from highly research-oriented companies working to develop and commercialize new industrial biotechnologies, drug discovery/delivery systems, and gene and cell therapies, to more service-oriented firms engaged in medical and other life sciences testing services, contract R&D, and clinical research expertise and assistance.