2023 September Life Sciences Update

What Makes an Emerging Market?

› Emerging markets are becoming talent magnets, as researchers, scientists, industry experts and entrepreneurs are often willing to relocate for lower costs of living. › The demand for skilled talent in the life sciences sector is high, and life sciences firms are expanding operations to emerging markets so they can tap the talent they offer. › Life sciences employment growth in emerging markets has the added benefit of bolstering economic resilience. A diversified and growing workforce makes the markets attractive for businesses and investors seeking stability.

High Growth in Employment

30,000

90%

79%

80%

25,000

67%

70%

Employment growth shows that an emerging market can meet the talent needs of life science firms.

58%

20,000

60%

48%

50%

44%

15,000

40%

35%

10,000

30%

20%

5,000

10%

0

0%

Houston Dallas/Ft. Worth Salt Lake City

Atlanta

Phoenix

Austin

# Employees (2023)

10 Yr Growth Rate

Hub Market 10 yr Growth Rate

Secondary Market 10 yr Growth Rate

Source: Lightcast

31 / CUSHMAN & WAKEFIELD

LIFE SCIENCES SEPTEMBER 2023