EMEA Life Sciences Cluster Outlook 2023

Life Sciences growth continues despite market challenges

  • Hannah Dwyer
  • Dr Ross Gray

The life sciences industry has transformed in the last few years, as such real estate requirements have also evolved with growth from both occupiers and investors in this space. Despite some slow-down in activity in 2022, the life sciences industry has shown a level of resilience, with growth achieved despite a backdrop of economic uncertainty and caution. Science doesn’t stop.

Unprecedented venture capital (VC) investment into life sciences broke all previous records in 2021 and has set a high bar for activity. Funding in 2022 was 24.7% lower year-on-year, due to a confluence of headwinds that impacted costs, supply chains, and the ability to plan. However, there is still pent-up capital yet to be deployed across the sector which will support activity as we enter 2023.

The first report in our series focuses on lab and office space, where we look at key investor and occupier trends that are shaping the European life sciences industry and identify key market clusters.

Using our bespoke tier ranking system and cluster composition matrix, we explore top trends and factors behind each of the key European life sciences clusters. From this, we have identified three tiers of clusters: advanced, established, and emerging, and have analysed these against each other to show where particular clusters show strengths in terms of human and physical capital.

These tools are meant to provide directional guidance on which markets offer opportunity but also identify less advanced markets that may offer future opportunities, which in turn may subsequently move the established and emerging markets forward. 

To learn more about the five key findings in our life sciences research, our Cluster Composition Matrix and spotlight on specific markets, download our EMEA Life Sciences Cluster Outlook 2023:

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