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New Mexico Bioscience Industry Statistics
New Mexico’s bioscience industry employed 6,666 in 2023 across 802 state business
establishments, reflecting a 10.4 percent increase in employment since 2019.
The bioscience industry is divided into six categories:
| Agricultural Bioscience | Medical Devices and Equipment |
|---|---|
| Bioscience Related Distribution | Research & Development |
| Drugs and Pharmaceuticals | Testing and Medical Laboratories |
The state’s average bioscience wage was $80,174, which is 42 percent higher than the private sector average. Additionally, New Mexico bioscience companies received nearly $261 million in cumulative venture capital investment since 2019, reaching a new annual funding peak of $72.8 million in 2023.*
| Metric | New Mexico |
|---|---|
| Bioscience Industry 2023 | |
| Bioscience Industy Employement | 6,666 |
| Bioscience Indusutry Establishments | 802 |
| Average Bioscience Wage | $80,174 |
| Academic Bioscience R&D Expenditures, FY 2022 | |
| Bioscience R&D ($ thousands) | $285,651 |
| Bioscience Share of Total R&D | 53% |
| NIH Funding, FY 2023 | |
| Funding ($ thousands) | $125,664 |
| Bioscience Venture Capital Investments, 2019 - 23 ($ millions) | $260.72 |
| Bioscience Related Patents 2019-23 | 581 |
See the NMBio stats here. For the full report click here.
* The source of these metrics is “The U.S. Bioscience Economy: Driving Economic Growth and Opportunity in States and Regions,” annual report by Teconomy, BIO and CBSA.
