Pharmaceutical

Life Sciences Sector Experiencing Era of Unprecedented Growth

Converging Technologies, Increased Funding, and Pandemic-Related Market Disruptions Drive Nationwide Demand for Life Science Space

Published 2-17-2021

The life sciences sector is experiencing an era of unprecedented growth driven by a surge in both public and private funding combined with a post-pandemic sense of urgency and market opportunity. According to a report released by Newmark in January 2021, more than 36 million sf of new construction is expected to be delivered in the nation’s top 14 life science markets, as life science investments more than triple. While demand for life science and biotech facilities has been growing steadily over the past decade, the COVID-19 crisis heightened national awareness around the need for increased research, diagnostic, and domestic manufacturing capabilities. Investors are also seeing significant potential in the future of personalized medicine, genomics, and other life science-related fields, as emerging technologies and research disciplines converge.