The Boom Amid Disruption
- Rents for laboratory space in premier life sciences markets like Cambridge have soared more than 50% in three years.
- Other markets are receiving significant amounts of new construction and showing renewed growth near research universities.
- Life sciences companies are converging on markets with concentrations of scientific talent, amid deep-seated growth drivers and industry disruption.
- Life sciences employment jumped 13.5% between 2006 and 2016, versus 6.9% for total U.S. employment. Certain segments are booming. Biotechnology research jobs have surged 26% since the end of 2013.
- Capital flows are driving growth. Venture capital investments in life sciences are 53% higher than 10 years ago. Boston-Cambridge and San Francisco-San Jose are increasingly capturing the lion's share of funding.
- The near-term outlook, supported by ample capital, is favorable. Strong drivers suggest long-term demand for lab space should grow.
For more information, please visit CBRE's Life Sciences page
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