Age of discovery: Despite government funding cuts, rising demand for R&D will sustain industry revenue

The Scientific Research and Development industry in Florida has thrived over the five years to 2017, slightly outpacing growth at the national level. Given that industry operators derive a substantial share of revenue from the Department of Defense, reduced defense funding has hampered industry demand. In addition, budget enforcement cuts have taken a toll on the industry during the early part of the current period. Despite these headwinds, rising public and private funding for health-related research and development (R&D) has spurred industry growth. The industry is projected to grow strongly over the five years to 2022. While the industry will benefit from an anticipated increase in federal funding for defense, other federal agencies are expected to experience cuts in funding...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
3.4%
Forecast Growth 17-22
Profit
Employment
16,214
Businesses
2,927
What Our Customers Say

Industry Threats & Opportunities

  • Florida’s growing life sciences sector has encouraged new industry entrants
  • Driven by the rapidly aging population, pharmaceutical and medical device companies have bolstered their R&D efforts
  • Over the next five years, the industry will benefit from increasing federal funding for defense
  • Additional Insights for the Scientific Research & Development in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Scientific Research & Development in Florida Industry are

  • Having a good reputation
  • Provision of appropriate facilities
  • Ability to effectively manage risk
  • IBISWorld analysts also discuss how external factors such as Research and development expenditure and Total health expenditure in Florida in the Scientific Research & Development in Florida industry impact industry performance..

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    What is the Scientific Research & Development in Florida Industry?

    This industry includes companies and organizations that are involved in physical, engineering or life sciences research and development (R&D). The industry only includes operators whose primary purpose is R&D and excludes players such as pharmaceutical or manufacturing companies that may undertake R&D to support their primary operations. Government entities are also excluded from this industry, though these entities may contract and fund the research this industry undertakes.

    Industry Products
  • Physical and engineering sciences R&D
  • Biotechnology R&D
  • Pharmaceutical R&D
  • Licensing of intellectual property rights
  • Development services
  • Other
  • Industry Activities
  • Agriculture research and development laboratories or services
  • Biotechnology research and development laboratories or services
  • Cancer research laboratories or services
  • Computer and related hardware research and development laboratories or services
  • Environmental research and development laboratories or services
  • Genetics research and development laboratories or services
  • Health research and development laboratories or services
  • Mathematics research and development laboratories or services
  • Medical research and development laboratories or services
  • Physics research and development laboratories or services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Research and development expenditure
  • Total health expenditure in Florida
  • Government consumption and investment
  • Corporate profit
  • Number of adults aged 65 and older

  • Current Performance
  • Navigating through the headwinds
  • Prominent life sciences hub
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Budget wins and losses
  • Keeping pipelines full
  • Industry landscape
  • Table: Scientific Research & Development in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Scientific Research & Development in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Baking Mix & Prepared Food Production
  • Generic Pharmaceutical Manufacturing
  • Semiconductor Machinery Manufacturing
  • Printing, Paper, Food, Textile & Other Machinery Manufacturing
  • Computer Manufacturing
  • Aircraft, Engine & Parts Manufacturing
  • Space Vehicle & Missile Manufacturing
  • Geophysical Services

  • Key Selling Industries
  • Chemical Wholesaling
  • Electrical Equipment Manufacturing
  • Glass Product Manufacturing
  • Glasses & Contact Lens Manufacturing
  • Inorganic Chemical Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Organic Chemical Manufacturing
  • Plastic Pipe & Parts Manufacturing

  • Products & Services
  • Physical and engineering sciences R&D
  • Pharmaceutical R&D
  • Other
  • Biotechnology R&D
  • Development services
  • Licensing of intellectual property rights
  • Chart: Scientific Research & Development in Florida Industry Products and Services Segmentation

  • Major Markets
  • Federal government
  • Private sector
  • Other
  • Universities and colleges
  • Chart: Major Market Segmentation for the Scientific Research & Development in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Scientific Research & Development in Florida

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Scientific Research & Development in Florida Industry

  • Battelle Memorial Institute Laboratory CorporationMayo ClinicThe Scripps Research InstituteUniversity of Miami Miller School of Medicine
  • Table: Battelle Memorial Institute - financial performance
  • Table: Laboratory Corporation - financial performance
  • Table: Mayo Clinic - financial performance
  • Table: The Scripps Research Institute - financial performance
  • Table: University of Miami Miller School of Medicine - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Scientific Research & Development in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Scientific Research & Development in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total health expenditure in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Life Sciences
  • A category in R&D that comprises biotechnology, biological sciences and medical sciences.
  • Materials Technology
  • A category that deals with the development of materials that can survive hostile environments, have greater strength-to-weight ratios or offer energy-saving applications.
  • Medical Diagnostic Imaging
  • A category in R&D related to the development of speedy, cost-effective and noninvasive medical equipment.
  • Nanotechnology
  • The study of controlling matter on an atomic and molecular scale.
  • Physical And Engineering Sector
  • An R&D category that comprises earth and environmental sciences and chemistry and chemical engineering.
  • Synchrotron
  • Also known as the atom-smasher. It is used in quantum-mechanics research by sending atoms along an underground circuit in order to break the atoms apart and study the results.
  • Why buy this report?

    IBISWorld’s industry research report on Scientific Research & Development in Florida can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Scientific Research & Development in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Scientific Research & Development in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Scientific Research & Development in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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