In recent years, British Columbia’s life sciences sector has emerged as a significant driver of innovation and economic growth in the province.
Since 2019, the sector achieved 27% growth in GDP, making it the fastest growing life sciences sector in Canada and outpacing the growth of the overall B.C. economy.
Today, the sector is a source of high-paying jobs for nearly 30,000 workers in BC and is home to many of Canada’s leading life sciences organizations, including AbCellera, StarFish Medical, STEMCELL Technologies, and Xenon Pharmaceuticals.
“B.C.’s life sciences sector has experienced record growth in part because of the talented, high calibre people that are working and conducting research here in our province,” says Brenda Bailey, Minister of Jobs, Economic Development and Innovation.
The sector is poised for further growth but that growth will be challenged by an increasing labour shortage, finds a new labour market intelligence study from Life Sciences BC.
Over the next five years, the sector is expected to face a widening talent supply gap, projected to rise to over 5,000 by the end of 2027—an order-of-magnitude increase from the current gap of 500.
The study, “Fostering a Globally Competitive Life Sciences Ecosystem in B.C.,” was funded through B.C.’s Ministry of Post-Secondary Education and Future Skills Sector Labour Market Partnership program and conducted with methodology and project support by KPMG.
“This is a pivotal moment for our sector to address the growing gap between the projected supply of skilled talent and what the market in British Columbia requires now and into the future,” believes Helen Sheridan, Chief Human Resources Officer for STEMCELL Technologies, which boasts 30 year of accelerating research into cancer and other diseases.
Seven recommendations are presented in the labour market study by sector stakeholders to address challenges—including creating a talent council to speak as a single voice for sector needs and enabling a responsive ecosystem that is focused on attracting, developing, and retaining talent.
“Extensive engagement with leaders throughout the life sciences sector has enabled us to identify existing and emerging challenges, while aligning on strategic objectives and recommendations to ensure that British Columbia can attract, develop, and retain the talent we need, with the skills our ecosystem requires to maintain record growth,” explains Wendy Hurlburt, President and CEO of Life Sciences BC and executive lead of the project.
“We understand the work we need to do,” she continued, “and we look forward to the next step of immediately beginning to prioritize and implement the study’s recommendations.”
B.C.’s life sciences sector faces a labour gap that is forecasted to grow in the coming years, the report concludes bluntly. But there is hope in that sector stakeholders have demonstrated a resolute commitment to address this challenge.
“Led by the sector, and through collaboration with government and academia, action can be taken to address B.C.’s life sciences talent shortage,” the report reads. “The sector has the opportunity to bridge this gap and pave the way for a future in which B.C. becomes a global life sciences hub providing health innovation and sustainable economic growth enhancing the well-being and prosperity of residents in B.C. and across Canada.”
Life Sciences British Columbia is a member-based not-for profit, industry association that advocates, supports, and represents B.C.’s life sciences community provincially, nationally, and globally.
There are roughly 1,800 life sciences companies currently based in BC.
