Innovative sectors such as cell and gene therapies, artificial intelligence and ancestry and genetic testing are all forecast to grow in the next five years, some as much as 37%, driving demand for R&D space, diagnostic centers and healthcare facilities, according to Life Sciences 2020: The Future is Here report.
- With a growing and aging global population, capital investment and scientific advancement are at a historic high.
- NIH, venture capital and corporate R&D invested an estimated $125 billion in pharmaceuticals and life sciences in 2018.
- Life science-related growth was three times stronger than total U.S. employment last decade.
- Greater demand for lab and office space has resulted in a 12-msf new construction pipeline in key markets.
- Boston/Cambridge and the San Francisco Peninsula each have 20+ msf of space. Boston/Cambridge has nearly no vacancy.