About the Report
This report was prepared by SoCalBio to highlight findings from The State of the Bioscience Industry in Greater Los Angeles, presented at the 27th Annual SoCalBio Conference.
Medical Devices Lead Regional Strength
The Greater Los Angeles bioscience community continues to stand as one of the nation’s largest hubs for innovation, employing nearly 116,000 professionals across more than 5,300 business establishments. While the region remains a critical economic driver for Southern California, 2024 marked a period of recalibration as growth in medical devices helped offset broader declines across other bioscience subsectors.
Of the five main subsectors, medical devices and equipment stand out as the region’s strongest performer, supporting nearly 38,000 jobs and posting a 1.76 location quotient, which indicates a strong national specialization. With a long-established concentration of medtech leaders such as Edwards Lifesciences, Abbott Laboratories, Medtronic, and Applied Medical, Los Angeles and Orange Counties continue to attract strong venture capital investment. From 2022 through Q3 2025, Greater Los Angeles recorded $7.7 billion in bioscience venture funding across 589 companies, with medical technology ventures accounting for the majority of both investment volume and capital raised.
Economic Impact and Workforce Trends
Although total bioscience employment has declined slightly since 2022, the industry’s output has grown by 3.9 percent and productivity by 9.6 percent, signaling sustained innovation and operational efficiency. Average bioscience wages in the region now exceed $121,000, a 60 percent premium over the private sector average, reinforcing the sector’s importance as a source of high-quality jobs.
Recent national workforce studies conducted by TEConomy Partners and the Life Sciences Workforce Collaborative point to increased demand for STEM-intensive roles in data analytics, regulatory strategy, and digital health. Across subsectors, employers are emphasizing skills-based hiring and professional development to address shifting industry needs and technology adoption.
Funding and Investment Landscape
After a strong rebound in 2024, early data suggests that 2025 venture investment levels may fall below last year’s totals. At the same time, NIH funding to Greater LA institutions has averaged $1.66 billion annually over the past three years, led by UCLA, USC, UC Irvine, and Cedars-Sinai. However, an estimated $658 million in NIH funding tied to 513 projects is currently at risk of termination or withholding, representing roughly 10 percent of all funding awarded between 2022 and 2025.
Looking Ahead
As the region enters 2026, bioscience organizations will need to balance the stabilization of funding pipelines with continued investment in medtech, biologics manufacturing, and digital health innovation. Collaboration among research institutions, investors, and industry leaders will play a critical role in ensuring the region’s sustained growth and global competitiveness.
About SoCalBio
If you have not heard of SoCalBio, I encourage you to check them out. Beyond being a strong hub for connection and support within the bioscience community, they also offer a Group Purchasing Program that gives member companies significant savings on the products and services needed to run a successful organization. It is a great resource for any team looking to reduce operational costs while staying plugged into the larger ecosystem.
Jake Vander Zanden
Partner
jake@mbexec.com
949.541.5000
Jake Vander Zanden serves as a Partner and leader of McDermott + Bull’s Technology + Life Sciences Practice. Jake spent over 25 years as a turnaround and growth leader completing business transformations as a senior executive at companies like Allergan, Medtronic, and more. He has lived and worked throughout Asia, Africa, and Europe, and managed businesses in all the major regions of the world. Jake’s success has come from his ability to quickly and continuously develop high performing teams and guide their achievement of company changing initiatives, regardless of country, language, culture, or product group.