Real estate is in high demand in the nation's life sciencesclusters, as companies race to develop a COVID-19 vaccine, and asmore corporations look to take advantage of expiring pharmaceuticalpatents.
Hubs are looking to use real estate to boost productivity as thegrowth of the global prescription drug market is expected tosurpass $1 trillion by 2022, according to the JLL 2020 USLife Sciences Outlook. The top three hubs are Boston, San Franciscoand San Diego, capturing 70% of venture capital in 2019.
New York, Los Angeles, and Philadelphia each increased theirscores in the ranking after hitting new levels of venture capital,and the race for a COVID-19 vaccine is expected to drive up demandin pharmaceutical-heavy New Jersey.
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Nate Robson
Nate Robson is the U.S. Supreme Court and regulatory editor. Contact him at [email protected]. On Twitter: @Nate_Robson1.
