March 2025 Life Sciences Update

Improved Alignment of Inventory and Job Growth

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CONTENTS

US Life Sciences Job and Inventory Growth

• Since 2015, life sciences inventory has grown 5.3% annually outpacing employment growth of 3.4% per year. • Through 2026, life sciences inventory is expected to grow an average of 3.2% annually, and employment is expected to grow an additional 2% per year. This change in pace brings inventory growth and employment growth into closer alignment, with further stabilization expected beyond 2026.

Inventory

Life Sciences Jobs (RHS)

250

1,600

1,400

200

1,200

150

1,000

Jobs (In Thousands)

Inventory ( MSF)

100

800

50

600

0

400

2015 2016 2017 2018 2019 2020 2021

2022 2023 2024 2025F 2026F

Source: Lightcast, Cushman & Wakefield Research

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Cushman & Wakefield