March 2025 Life Sciences Update

08

What Makes an Emerging Market?

CONTENTS

High Growth in Employment

• While emerging markets often have a limited depth of specialized life sciences labor, they offer several talent attraction advantages compared to larger hub markets.

# Employees (2024)

10 Yr Growth Rate

Hub Market 10 yr Growth Rate

Secondary Market 10 yr Growth Rate

• Emerging markets are attractive to

researchers, scientists and industry experts who are often willing to relocate for lower costs of living. Not only does this offer a talent advantage for firms in emerging markets, but it also reduces elevated salary costs. • The reduced presence of mega-sized pharmaceutical companies in these markets offers smaller firms a better chance of securing top talent. • Firms in emerging markets can also leverage an untapped talent pool of science, technology, engineering and mathematics professionals who can provide skilled labor at competitive rates.

60,000

240%

216%

220%

50,000

200%

180%

40,000

160%

140%

30,000

120%

100%

85%

77%

• Employment growth in these emerging markets underscores their ability to fulfill the

20,000

80%

64%

talent requirements of life sciences companies, often at a lower cost.

60%

50%

45%

10,000

40%

29%

26%

20%

0

0%

Costa Rica

Houston

Austin

Indianapolis

Dallas/Ft. Worth

Salt Lake City Atlanta

Phoenix

Source: Lightcast

43 43

Cushman & Wakefield