HEALTHCARE INSTITUTE OF NEW JERSEY (HINJ): LEADING MEDICAL INNOVATION, ADVANCING GLOBAL HEALTH, DRIVING NEW JERSEY’S ECONOMY
New Jersey is widely known as the “Medicine Chest of the World,” not only for its concentration of life sciences companies, but also for their historic commitment to innovation and improving global health.
Founded in 1997, the HealthCare Institute of New Jersey (HINJ) serves as the trade association for the leading research-based biopharmaceutical and medical technology companies in New Jersey, including many of the world’s largest as well as smaller, growing companies.
Driven to improve global human health, for over 135 years the life sciences industry in New Jersey – which includes biopharmaceutical, biotechnology and medical technology, device and diagnostics companies – has helped people live longer, more productive and fulfilling lives
The mission of the life sciences –in New Jersey, across the United States and around the world – is as ambitious as it is straightforward – to research and develop new medicines, therapies, medical devices, technologies and diagnostics to detect, treat and cure diseases and improve the quality of life for patients.
The life sciences industry today is one of New Jersey’s premier economic drivers. Fourteen of the world’s top 20 research-based biopharmaceutical companies and 11 of the world’s top 20 medical technology companies maintain a significant presence in the state.
The biopharmaceutical and medical technologies sectors annually generate a combined $120.9 billion in economic output for New Jersey, or approximately 19 percent of the state’s Gross Domestic Product. Nearly 84,000 New Jersey jobs are directly supported by the biopharmaceutical and medical tech sectors. About 430,000 New Jersey jobs are supported, directly or indirectly, by those two sectors.
Why New Jersey? Because our state possesses many compelling assets that have historically made it an attractive location for life sciences companies and the thousands of enterprises that support it:
- As the home of a world-renowned industry cluster, much of the global industry leadership is based in New Jersey.
- The cluster provides endless opportunities for companies to collaborate.
- New Jersey offers a highly educated and skilled workforce and boasts the number one ranked K-12 school system in the country.
- New Jersey is home to a dynamic innovation ecosystem with multiple world-class research universities and institutes
- The state’s strategic geographic location allows for ease of collaborating with other domestic and international research hubs, affords ready access to capital and consumer markets, and provides a global transportation network.
- A specialized industry supply chain that has developed over more than a century.
- A steady pipeline of life sciences start-ups.
- Industry-leading manufacturing capabilities.
HINJ strives to ensure life sciences companies have a supportive innovation ecosystem to discover and develop new cures and treatments, patients have access to the medicines they need, and that New Jersey remains a vibrant global life sciences hub with all of the attendant economic and quality-of-life benefits.
Working on multiple fronts throughout New Jersey and in Washington, D.C., HINJ is proud of the many and varied accomplishments it has achieved on behalf of, and delivered to, its member companies, patients, the State of New Jersey, and its other stakeholders, including the business and labor communities, academia and community-based organizations.
