The race to develop a vaccine to COVID-19 has helped to accelerate growth in the life science market. The life science industry has reached record numbers in research and development, employment and venture capital investment. Top life science metros are the beneficiaries of this surge in activity, in particular Boston, San Francisco and San Diego, as well as emerging life science hubs, such as Pittsburgh and Austin, according to recent research from CBRE.

Employment gains have potentially been the most impressive for the sector. While employment was down 1.3% in July from its previous peak in March, employment in the sector has grown 1% year over year. Biotech R&D employment let the gains, increasing 4.9% year-over-year. This outpaced tech employment as well as national employment numbers, which fell by 7.6% during this time period. In many ways, this recent growth has already augmented positive trends for the industry, including an aging population, like an aging global population.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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