Healthcare & Biotechnology
Invested in saving lives. Advancing the future of healthcare.
Bench-to-bedside strength to support biomedical innovation.
From 2007 to 2019, output for healthcare in the Northeast Ohio Region grew nearly 20%, or $3.8 billion, to become the second largest sector of the regional economy. The rapid growth of the biohealth industry in the Northeast Ohio Region is fueled by innovative regional collaborations, a diverse range of sources for funding companies, and major biomedical real estate projects, including the Global Center for Health Innovation.
More than $2.3 billion has been invested in 400-plus Northeast Ohio startups since 2003. That investment, coupled with access to world-class facilities and personnel, make this region a hotbed for innovation and invention. Companies succeed in the Northeast Ohio Region because the market offers greater efficiencies and provides increased speed to development, increased speed to commercialization, and therefore, increased speed to market.
Beyond that, what makes Northeast Ohio one of the most predominant biomedical centers in the nation is the ability to take an idea from “bench to bedside” in one market. From research, to manufacturing, to access to the patient population – even cybersecurity support for telehealth – the Northeast Ohio Region offers unparalleled opportunities to any company at any stage or specialty in the biomedical industry.
A healthy ecosystem for biomedical business
Home of the world’s #2 ranked hospital, the Northeast Ohio Region also offers a robust community of biomedical businesses and talent.
700 biomed businesses in the Northeast Ohio Region
270,000 biomedical and healthcare workers in the Northeast Ohio Region
Cleveland ranks 4th in the Midwest for attracting investment for medical start-ups
21% growth in healthcare occupations from 2001 to 2019
Success Story: Lumitex
Lumitex, a lighting system design and development firm based in Strongsville, Ohio, experienced critical shortages in its supply chain due to disruption by the Covid-19 pandemic, preventing the company from manufacturing its breakthrough infant jaundice medical device, Bilisoft. They turned to Team NEO, Northeast Ohio’s economic development organization, for assistance. With a history of cultivating strong industry networks and clusters, Team NEO helps companies access resources to help navigate supply chain challenges.
Team NEO was able to connect Lumitex with the commercial leadership at Avient, a global provider of specialty and sustainable materials, headquartered in Avon Lake, Ohio. Avient responded quickly across their global operational network and secured the specific polymer solution that was in extremely short supply worldwide. Avient not only provided the immediate material supply needed to manufacture this crucial medical device, but they also were able to provide longer-term commitment for continuity of supply for the special formulation.
Top 10 Healthcare & Biotechnology Employers in Northeast Ohio
|The MetroHealth System||6,948|
|Aultman Health Foundation||5,667|
|Akron Children’s Hospital||5,344|
|Charles River Laboratories||1,321|
Top 10 Healthcare & Biotechnology Occupations in Northeast Ohio
|Occupation||Employed in Industry|
|Customer Service Representatives||1,490|
|Miscellaneous Assemblers and Fabricators||794|
|Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products||787|
|Inspectors, Testers, Sorters, Samplers, and Weighers||701|
|Software Developers and Software Quality Assurance Analysts and Testers||551|
|Dental Laboratory Technicians||543|
|Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products|
|General and Operations Managers|
|Project Management Specialists and Business Operations Specialists, All Other|
|Clinical Laboratory Technologists and Technicians|
Director of Business Development – Healthcare, Team NEO