Global Life Sciences Atlas

Executive Summary

Dramatic global innovation and discovery continue to advance the life sciences industry. But persistent and growing health challenges—like cancer, heart disease and obesity—and an aging population underscore the urgent need for further solutions and underpin the need for more lab space.

This report profiles some of the world’s most important life sciences hubs—both traditional and emerging ones—and examines investment and construction trends that impact the life sciences industry. Key life sciences hubs have developed in many other markets that are beyond the scope of this report.

Pharmaceutical and Biotechnological Innovation. The U.S. continues to lead global biotechnology, pharmaceutical and medical technology patent applications, but China has had the most significant patent growth, with applications up 379% over the last decade.
Venture Capital Investment. The U.S. and Western European countries like Germany, Switzerland and the U.K. are leading a rebound in global life sciences venture capital investment.
- The San Francisco Bay Area had more life sciences venture capital investment than any metro area in the world last year.
- Venture capital investment has declined in major Asia-Pacific countries (China, South Korea, Japan, Singapore) since peaking in 2021.
Real Estate Development. The growing prominence of the life sciences industry has sparked a wave of real estate development globally, with more than 35 million sq. ft. of lab/research and development (R&D) properties under construction last year.
- Beijing and Shanghai lead global life sciences construction activity with more than 13.7 million sq. ft. combined. London will be a pacesetter for life sciences growth in Europe over the next couple of years, while Boston-Cambridge and the San Francisco Bay Area lead construction in the U.S.
- While U.S. markets top the world’s largest life sciences R&D centers, other mainstays can be found in Asia-Pacific (Beijing, Shanghai, Greater Tokyo), Canada (Toronto, Montreal) and Europe (Cambridge, U.K., Paris).
- Centers of life sciences manufacturing activity can also be found in Hyderabad, India, and San Jose, Costa Rica.

Global Life Sciences Advances and Challenges

The life sciences industry has enabled generational advancements in human health, including declining global child mortality rates (Figure 1). Advances in cell and gene therapy and other innovations position the industry to make similar breakthroughs.

Figure 1: Global Child Mortality Trends (Under-five mortality rate per 1000 live births)

Note: Probability of a child born in a specific year or period dying before reaching the age of five, if subject to age-specific mortality rates of that period. (SDG 3.2.1).
Source: World Health Organization, Q4 2024.

However, severe health challenges persist, notably cancer (Figure 2) and obesity (Figure 3), which are becoming more problematic. Although the emergence of GLP-1 agonist medications hold considerable promise, the growing obesity epidemic, and accompanying health maladies, will challenge health systems for the near future.

Figure 2: Cancer Incidence Rates by Country (Per 100,000 population)

Source: GlobalData, Q4 2024.

Figure 3: Proportion of Obese Population (%)

Source: GlobalData, CBRE Research, Q4 2024.

Aging populations and longer lifespans are straining resources and compelling governments around the world to allocate more resources to people’s health and welfare. Figure 4 shows the growth of health expenditures in government budgets of several major countries. The life sciences industry can help address these challenges.

Figure 4: Public Health Expenditures ($USD, Trillions)

Source: GlobalData, CBRE Research, Q4 2024.

Global Life Sciences Innovation

The historic pace of innovation continues in the life sciences industry, as evidenced by the increase in patent applications in biotechnology, pharmaceuticals and medical technology. Figure 5 shows countries with the most applications in 2024 and their growth since 2014.

While the U.S. continues to lead the world in the number of publicly disclosed patent applications, China’s 379% growth over the past 10 years is unmatched by any major country.

After the U.S. and China, the two countries with the next most health-related patents, Japan and South Korea, are on decidedly different trajectories. South Korea has among the fastest growth in patent applications in the world, while Japan’s patent growth has stagnated.

Several European countries follow. While Germany had the most patent applications, the U.K.’s growth was third-fastest overall behind China and South Korea.

Finally, smaller countries such as Israel and Australia have posted impressive growth over the last 10 years at 25% and 30%, respectively.

Figure 5: Patent Applications Filed for Biotechnology, Pharmaceuticals and Medical Technology

Note: PCT Publications: Public disclosures of patents filed with the Patent Cooperation Treaty (PCT).
Source: WIPO, Q4 2024.

Global Life Sciences Exports

In addition to ongoing innovation in biotechnology, global pharmaceutical exports increased rapidly, according to the Organization for Economic Co-operation and Development (OECD).

Figure 6 shows the origin of these exports with significant growth beginning in 2016, particularly in South Korea, Belgium and Ireland.

Figure 6: Pharmaceutical Exports by Select Countries

Source: OECD, Q4 2024.

Global Venture Capital by Region

Global venture capital (VC) investment is returning to the industry. This follows an unprecedented influx of capital in 2021 and a period of stabilization since then.

Figure 7 shows the global regions that have attracted life sciences VC since 2019. Global VC investment in 2024 was nearly 43% higher than in 2019. Since the peak in 2021, European investment has declined the least (-29%), and Asia-Pacific has seen the greatest pullback (-82%).