Maddie Holmes
CHICAGO, IL – The medtech and biomanufacturing sectors are driving new growth in the life sciences industry. As a result, the key markets that house medtech and biomanufacturing clusters are flourishing, presenting new opportunities for commercial real estate investors and life sciences occupiers in places where science and innovation meet.
“The prospects and growth potential within the
medtech and biomanufacturing sectors in relation to life sciences real estate
are numerous,” said
Travis McCready, Head of Life Sciences, Americas Markets, JLL.
“Medical device and testing
companies hold a prominent position within the life sciences industry, and
biomanufacturing plays a crucial role in the lifecycle of therapeutic
companies.
"Considering the substantial investments required and the crucial
role of manufacturing operations in a company's success, it is crucial to
carefully select locations and sites that offer long-term value and optimal
utilization.”
The federal government is boosting the
growth by investing heavily in medtech and biomanufacturing through the CHIPS
and Science Act by designating 31 communities across the U.S.
as Regional Innovation and Technology Hubs.
New areas of opportunity in life
sciences provides avenues for stablished medtech and biotech companies to
strategically select long-term markets for research and development growth, and
startups seeking to scale or smaller companies looking to expand, also have an
advantage when it comes to site selection.
Travis McCready
“Beyond the major clusters, several
emerging markets across the United States offer unique advantages, including
access to talent, lower costs and supportive local environments,” said Maddie
Holmes, Senior Research Analyst, Life Sciences Industry Insight and
Advisory, JLL.
"Startups can explore these alternative markets to establish their
presence and tap into local resources.”
Understanding the specific requirements
of medtech and biomanufacturing companies and catering to their needs are
essential for capitalizing on this evolving market and creating a thriving life
sciences ecosystem.
Contact:
Kimberly Steele
PR,
Occupier
JLL
T
+1 713 852 3420
M
+1 832 244 9994
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