A favourable political and financial environment, a talent pool, a cutting-edge research infrastructure and a geographic location that opens onto North America and Europe: Montréal offers the best conditions for success for companies in the life sciences and health technologies (LSHT) sector.
Click here to have access to the portrait of the Montréal metropolitan area’s expertise in the life sciences and health technologies sector.
Montréal’s LSHT ecosystem has developed into a concentration of strong niches of excellence in which scientific and industrial partnerships broaden. The quick emergence of health technologies, personalized medicine and genomics also acts as a vehicle for innovation for industries. The Montréal metropolitan area is a talent incubator that brings together a critical mass of entrepreneurs, researchers and investors, who give rise and generate the treatments and medicine technologies of tomorrow.
Fields of expertise and niches of excellence
The LSHT sector first brings together companies that are dedicated to health, both human and animal, and which are found in one of the seven (7) sub-sectors of innovative pharmaceuticals, medical technologies, bitotechnologies, health information technology and artificial intelligence (health IT / AI), contract research organizations (CRO), contract manufacturing organizations (CMOs) and natural health products.
Coefficient of location of the main regions for the LSHT sector, Quebec, 2017
The coefficient of location represents the ratio between its share of modeled employment in a region under study and its share of modeled employment in Quebec. It is also called location index.
Its mathematical formula is: location quotient = (employment in the LSHT sector for a given region / total employment for this region) / (employment in the LSHT sector in Quebec / total employment in Quebec). A quotient greater than 1 indicates a relative specialization of the region in the LSHT sector.
A sector that contributes to the economy
In the LSHT industry, Montréal alone contributes to 79% of GDP, an amount totalling $4.5 billion, out of $5.8 billion of Québec’s GDP.
The LSHT sector creates 75% more value added per direct job than all other sectors of economic activity in Quebec. Québec is ranked 6th in North America in relation to the share of total R&D expenses, all sectors combined, with respect to its GDP.
Globally recognized expertise
Québec ranks 1st in the pharmaceutical, clinical trial management and medical device sectors.
An exceptionnaly favourable investment climate
1st in North America for its low operating costs in LSHT with a 23-24% cost benefit.
Quebec has attracted more than 40% of venture capital investments in the LSHT sector in Canada in the past two years
A competitive business environment
Québec has successfully positioned 8th in North America for the granting of public research funds out of 15 jurisdictions. Québec is ranked 2nd for government assistance out of 15 jurisdictions in North America.