California + Bay Area + Healthcare | April 18, 2023

Report: San Francisco Life Science Sector Continues to Roll

Report: San Francisco Life Sciences Sector Continues to Roll

The life sciences industry in the San Francisco Bay Area is one of the fastest-growing life sciences markets in the United States, adding the most jobs of the top 13 life sciences metros, according to a new report from CBRE. The study indicates that despite economic turmoil, the region has also exceeded the national average in funding.

“Industry fundamentals in the Bay Area remain strong, supporting the employment growth in life sciences,” said CBRE Vice Chairman Gregg Domanico. “Record high investment over the past several years has also pushed more science into the clinical stage, signaling the potential for even further rapid growth in the coming years.”

San Francisco received over $2 billion in NIH funding in 2022, the fourth highest total in the country and up 17.6% from 2019. Developers also remain optimistic about the future of life sciences in the Bay Area, with 9.3 million square feet of space in the pipeline, second most in the U.S.

Meet CRE experts like Red Oak Capital Holdings CEO Gary Bechtel by joining us in person at Connect LA on May 3 at the Hotel Indigo.

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Inside The Story

Gregg Domanico

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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