March 2025 Life Sciences Update
Costa Rica
MARKETS CONTENTS
Market Summary
Public & Private Funding (2023-2024)
Fast Lab Stats
• Costa Rica has emerged as a premier hub for the life sciences industry, driven by sustained growth, strategic investments and a business-friendly environment. Its advanced infrastructure and highly skilled workforce have positioned the country as a key player in global value chains, attracting leading multinational corporations seeking stability, innovation and operational excellence. • At the heart of this expansion is the medical device manufacturing sector, which has diversified across multiple specialties, producing Class I, II and III devices. These include cutting-edge technologies in aesthetics, cardiovascular health, dental care, endoscopy, medication delivery, neuro-endovascular treatments, neuromodulation, optics, orthopedics, sports medicine, ENT, and surgical and diagnostic components. Today, over 90 MedTech multinationals operate in Costa Rica, including 13 of the world’s top 20 Original Equipment Manufacturers (OEMs), leveraging the country’s free trade zones and robust industrial ecosystem. • This rapid industry growth has fueled significant real estate development tailored to life sciences, with state-of-the-art facilities, such as cleanrooms, laboratories, and high-tech manufacturing plants designed to meet international regulatory standards. These specialized spaces, strategically located both within and beyond the Greater Metropolitan Area (GMA), provide an ideal environment for production and research. • Costa Rica’s commitment to sustainability and green building practices further enhances its appeal as a life sciences hub, aligning with global industry trends. With continued investment in infrastructure, workforce development and innovation, the country is well-positioned to strengthen its status as a leading destination for the life sciences sector in the Americas.
Company
Deal Type
Completed
Type
$ Raised (MM)
11.2 MSF Total Inventory 1.7 MSF Under Construction 8.7 MSF Proposed 54.5K Total Life Sciences Employment 216% Life Sciences Employment 10-Year Growth Rate
Smatter
Seed Round
Feb 2023
VC
$0.1
Representative Investment Sale Transactions (2023- 2024)
Address
Type
$ MM RBA SF
Date
Buyer
La Lima Free Zone, Cartago Manufacturing Facility
Confidential
484,000
Q1
Boston Scientific
Evolution Free Zone, Grecia
Manufacturing Facility
Confidential
430,000
Q2
Johnson & Johnson
ProPark, Alajuela
Manufacturing Facility
Confidential
110,000
Q1
Boston Scientific
La Lima Free Zone, Cartago Manufacturing Facility
$20
108,000
Q1
Heraeus
La Lima Free Zone, Cartago Manufacturing Facility
Confidential
70,000
Q2
Cretex
Coyol Free Zone, Alajuela
Manufacturing Facility
Confidential
43,000
Q2
Moog
Representative Life Sciences Companies
Representative Lease Transactions (2023 – 2024)
Company
Type
Company
Address
Size (SF)New/Renewal
Quarter Landlord
Johnson & Johnson
Medical Devices Manufacturing Facility
Shockwave Medical
Coyol Free Zone, Grecia
242,000New
Q1
CODE Development Group
Edwards Lifesciences
Medical Devices Manufacturing Facility
Trelleborg
Evolution Free Zone, Grecia
108,000New
Q2 CODE Development Group
Medtronic
Medical Devices Manufacturing Facility
AVNA
Evolution Free Zone, Grecia
108,000New
Q1
CODE Development Group
Boston Scientific
Medical Devices Manufacturing and R&D Facility
Abbott
Medical Devices Manufacturing Facility
Intricon
Evolution Free Zone, Grecia
92,000New
Q2 CODE Development Group
Terumo
Medical Devices Manufacturing Facility
Establishment Labs
Coyol Free Zone, Alajuela
86,000New
Q1
CODE Development Group
Baxter
Medical Devices Manufacturing & Shared Services Center Facility
Inari Medical
Evolution Free Zone, Grecia
78,000New
Q2 CODE Development Group
Smith & Nephew
Medical Devices Manufacturing & Shared Services Center Facility
Riverpoint Medical
Coyol Free Zone, Alajuela
45,000New
Q2 CODE Development Group
Bayer
Pharma Manufacturing Facility
Theragenics
Coyol Free Zone, Alajuela
44,000New
Q2 CODE Development Group
Hologic
Medical Devices Manufacturing and R&D Facility
Cardinal Health
Medical Devices Manufacturing Facility
Thermofisher
Coyol Free Zone, Alajuela
43,000New
Q2 CODE Development Group
Coopervision
Medical Devices Manufacturing Facility
Solesis
Green Park Free Zone, Alajuela
33,000New
Q2 Grupo Guerrero
Philips
Medical Devices Manufacturing and R&D Facility
ICU Medical
Medical Devices Manufacturing and R&D Facility
Heraeus
Medical Devices Manufacturing Facility
Sources: Cushman & Wakefield Research
Establishment Labs
Medical Devices Manufacturing and R&D Facility
Research Contributors
Intricon
Medical Devices Manufacturing Facility
Jose Antonio Ortega jose.ortega@ab-latam.com
Franco Moiso franco.moiso@ab-latam.com
Daniel Alvarez daniel.alvarez@ab-latam.com
Coloplast
Medical Devices Manufacturing and R&D Facility
Cushman & Wakefield
80
Made with FlippingBook - Online magazine maker