Prior to COVID-19, life science companies anticipated playing an even greater role in strengthening the middle market. But with new growth comes new risks. (Photo: Fotolia)

The life sciences industry is a significant contributor to U.S. and Canadian economic growth and job creation. Primarily comprised of pharmaceutical, medical device, biotech, and dietary supplements companies, the middle-market life sciences industry has a revenue growth rate and employment growth rate well above the national average.

According to a new report from Chubb, in the 12 months between February 2019 and February 2020, middle-market life sciences companies collectively posted a healthy revenue growth rate of 6.9% and created new jobs at a rate of 6.6%. The U.S. middle-market employment growth rate was 5%.

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Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

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