The pandemic marked a turning point in the awareness of the Life Sciences sector, placing it at the heart of European priorities—not only for its impact on public health, but also for its role in technological innovation and economic growth. Today, the sector—which includes areas such as biotechnology, pharmaceuticals, and medical technologies—is considered strategic for Europe.
While the United Kingdom leads in venture capital volume, countries such as Germany, France, Italy, Spain, and the Netherlands have shown strong momentum in recent years. In fact, during the first half of 2025, venture capital investment in Life Sciences grew by 22% year-on-year across Europe, despite an overall decline in VC activity. One of the key drivers of this evolution is the rise of artificial intelligence, which is revolutionizing R&D processes and laboratory design.
In this context, Spain is positioning itself as an increasingly mature and attractive ecosystem for multinational companies, which are establishing R&D, production, and clinical trial centers in the country. The pharmaceutical industry already accounts for over 20% of private R&D investment and 25% of industrial R&D employment. Cities such as Barcelona and Madrid lead clinical development, playing a prominent role in fields such as rare diseases.
Spain’s scientific infrastructure includes 51 science and technology parks, although many require modernization. Among the most prominent hubs are Parc Científic de Barcelona, PRBB, and DFactory; MASID Fuencarral and the UAM Science Park in Madrid; Málaga TechPark; BIOHUB VLC in Valencia; BIND 4.0 in the Basque Country; and Sevilla TechPark in Andalusia, among others.
The types of spaces in demand are increasingly diverse: wet and dry labs, GMP facilities, hybrid scientific offices, and even shared laboratories under "lab-as-a-service" models. Integrated campuses combining scientific facilities with complementary services are also gaining traction.
This landscape opens new opportunities for the real estate market: the scarcity of specialized technical spaces generates high returns for investors and strong tenant retention, given the complexity of relocating such activities. Many office buildings and industrial assets are being repurposed into science and innovation spaces, benefiting from still competitive rental levels (€18–30/m²/month).
Nevertheless, the sector faces challenges such as limited specialized supply, outdated stock, and a reactive rather than proactive public management. Even so, Spain attracted €1.347 billion in VC/PE investment, ranking 7th in Europe for funding volume. It is home to 889 active Life Sciences companies—Europe’s 5th largest ecosystem—standing out particularly in pharmaceuticals (3rd), biotech R&D (4th), and medical technologies (7th).
This report aims to analyze the current state of the Life Sciences sector in Spain, as well as its vast growth potential from a business, scientific, and real estate perspective.
