The global life sciences industry continues to see extraordinary growth. The growing and aging global population needs an increasing supply of medicines, treatments and vaccines delivered faster and cheaper than ever before.
As a result, we are seeing a major shift in life sciences client requirements for construction project delivery as the industry seeks to build the next generation of facilities to support product development at pace.
Our Annual life sciences construction outlook report highlights the growing pressure on real estate and construction teams to keep pace with surging rates of investment.
To take the pulse of the life sciences construction sector, we conducted an online poll which generated responses from half of the top 20 life sciences companies in the world. We also drew together insights from our benchmark dataset globally.
Our data reveals almost universal ‘hot’ market conditions, indicating highly competitive delivery environments in most regions, with limited contractor capacity, skills shortages and rising costs to deliver projects.
Despite these market pressures, overall demand shows no sign of weakening. Speed of delivery remains the overriding concern. However, cost efficiency is coming under increasing scrutiny with client’s needing to ensure the price of investment meets with the business case.
In order to develop facilities that meet with expectations for higher standards in project performance, the industry has recognised that a business-as-usual approach won’t work.
Increasingly, sector players are showing an openness to work together to find ways to embed more sophisticated delivery methods worldwide.
Read the full report to access our global dataset and gain our insights into the latest trends impacting the life sciences construction sector.
Please contact Andrea Valdes Millen, Head of Europe Life Sciences and lead author for Annual life sciences construction outlook 2023, to discuss our research in more detail.