Life Sciences Innovation: Building the Fourth Industrial Revolution brings together international experts from across the life sciences industry to join the dots between investors, academics and the real estate sector, investigate the trends shaping the industry, and inform the market about what demand for labs looks like.
Co-authored by Perkins&Will, Savills and Blackstock Consulting, the report shares insights from over 60 world-leaders across the UK, US and Europe, including BioMed Realty, Harrison Street, Syncona and The Universities of Oxford and Cambridge.
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Life sciences is a rapidly growing and truly global industry, with a unique resilience to recession. In the UK alone, investment into and by life sciences companies, including M&A, venture capital, and private equity, amounted to £20 billion during 2020, despite the COVID-19 pandemic.
Buoyant capital raising for life sciences firms is creating a huge opportunity for real estate investors and developers to create workspaces for them from labs and research centres to education facilities, manufacturing plants, and offices.
While the pandemic has hit traditional commercial real estate sectors, such as offices and retail, life sciences stands apart. Much of the work conducted by life sciences companies, pharmaceutical, biotech, and other medical research fields, is simply impossible to conduct remotely. Plus, these businesses are expanding, driven by increasing government spending and exuberant public markets.
The potential scale of the real estate market around life sciences is huge and while it is relatively mature in North America, understanding and awareness is at a very early stage in the UK and Europe.