realestate

Boston Tops Global Life Sciences Market, Followed by San Francisco

Life Sciences Firms Rethink Real Estate Strategies for Talent Access and Market Success

B
oston and San Francisco lead the pack as the top two life science markets globally, according to a recent report by Savills. The US cities are followed closely by emerging hotspots Houston and Atlanta. In the US, life sciences venture capital funding is on the rise, with companies using cash reserves for strategic acquisitions.

    Developers are struggling with oversupply and weakening demand, leading them to offload their life sciences inventory or market it as office space. Despite fewer deals in 2024, venture capital funding has increased by 20% year-over-year, indicating more significant investments. Mergers and acquisitions have surged by 92.6% from Q3 2023 to Q3 2024, with both large pharmaceutical companies and startups engaging in deal-making activity.

Boston skyline with biotech buildings, followed by San Francisco's life sciences hub.