CBRE Analysis: D.C. Region Ranks Third for Life Sciences Research Talent

The Washington, D.C./Baltimore region ranked third for life sciences research talent, according to a recent analysis conducted by CBRE. The region boasts the nation’s fourth largest pool of life sciences research talent totaling 30,240 life sciences researchers in 2022.

CBRE’s report revealed the growth of U.S. life sciences researchers remains resilient in the face of economic concerns. The number of life sciences researchers in the U.S. increased by 87% over the past 20 years, compared with 14% for all U.S. occupations. Research jobs have not fallen across those 20 years, through three recessions and amid a tight labor market of recent years.

“Our population is not aging any slower; and there is no ambiguity around the pace of scientific advancement, which is why the life sciences industry has demonstrated resiliency over the last 20 years. The current cost and availability of capital has normalized the sector’s growth, but the overall trajectory remains resolute,” says Executive Vice President Tommy Cleaver. “Throughout any portion of a cycle, access to deep pools of specialized talent is priority number one. The Washington, D.C./Baltimore region remains a top three market for this critical ingredient and will continue to attract users and investors alike.”

The number of life sciences research workers in the D.C./Baltimore region grew by 19% between 2017-2022, above the national rate of 16%. The region also boasts the nation’s seventh highest concentration of life sciences research talent at 0.6% of the labor force compared to the national rate of 0.3%.

Life sciences research professions – from biochemists to epidemiologists and data scientists – increased in headcount by 3.1% in 2022 to a record 545,000 specialists. In comparison, the overall U.S. job growth rate last year was 2.2%. The continued growth in life sciences research jobs is driven by established markets such as Washington, D.C./Baltimore, Boston/Cambridge and the San Francisco Bay Area and emerging hubs, including Atlanta, Dallas/Ft Worth and Miami/Fort Lauderdale.

CBRE evaluated each of the largest 74 U.S. life sciences labor markets against multiple criteria, including the number and concentration of life sciences researchers, number of new graduates with life sciences degrees and specifically with doctorate degrees in life sciences, concentration of all doctorate degree holders, and concentration of jobs in the broader professional, scientific, and technical services professions. The analysis produced CBRE’s second annual ranking of the leading markets for U.S. life sciences talent.

“Demand for life sciences research workers is above pre-pandemic levels,” said Matt Gardner, CBRE Advisory Services Life Sciences Leader. “We’re also seeing a closely balanced ratio of hiring to job cuts in the biopharma industry compared with the technology sector and the broader economy, which positions the life sciences to remain stable despite an economic downturn.”

CBRE’s analysis allows for examination of the industry from various angles, including shifts in the type of life science research occupations. For example, the number of digital and analytics roles has increased by 101% in the last five years due to innovation in artificial intelligence and machine learning. The industry is also experiencing a shift from chemistry to biology, resulting in a 1.2% decrease in the number of chemists over the past five years.

Phoenix produced the fastest growth rate of new life sciences graduates (2,000 graduates in 2021: 91% growth from 2016-2021). Additionally, markets that produced the highest number of graduates in specialized fields include Washington D.C./Baltimore (582 biotechnology graduates in 2021) and the Bay Area (877 cell/cellular biology and anatomical sciences graduates in 2021).

To read the full report, click here.