The 2024 Life Sciences Update Report from Cushman & Wakefield, released in March 2025, confirms Costa Rica as Latin America’s primary emerging site for life sciences investment. The report establishes Costa Rica as a unique global player by benchmarking its life sciences industry against emerging markets and established U.S. hubs like Houston, Atlanta, and Phoenix.
The recognition highlights Costa Rica’s increasing reputation as a dependable and competitive region for life sciences businesses. The nation maintains a robust and expanding collection of global industry leaders who specialize in medical device production and high-precision biotech research. The Costa Rican life sciences industry demonstrates how small countries can become key players in high-value global sectors through strategic policy implementation, infrastructure development, and talent cultivation.
Explosive Employment Growth
The industry demonstrates its success through robust employment growth numbers. The workforce in the Costa Rican life sciences industry expanded by 216% during the last ten years. The sector provides direct employment to over 54,500 workers as of 2024. This growth demonstrates the market entry of startups while established businesses continue to expand operations domestically.
The Costa Rican Investment Promotion Agency (CINDE) data shows that 2,600 new jobs were created in the industry during 2024. The life sciences sector generated almost half of all new employment in Costa Rica’s targeted foreign direct investment sectors, demonstrating its critical role in economic development.
Competitive Advantages and Global Connectivity
The country’s operational infrastructure—which combines strength and innovation—stands as a vital factor behind its ongoing economic expansion. The past ten years saw extensive financial commitments towards high-quality industrial parks and specialized facilities that support life sciences companies alongside free trade zones. In operation are advanced clean rooms and ISO-certified laboratories as well as high-tech manufacturing plants that fulfill rigorous international standards, including FDA and EMA requirements.
The Costa Rican life sciences industry thrives under the nation’s business-friendly environment and stable political landscape which support investment-friendly regulations. The Free Trade Zone Regime has played a crucial role in drawing multinational firms through its tax benefits and efficient customs procedures along with legal assurance. Access to both Atlantic and Pacific ports and close proximity to North American markets make Costa Rica an attractive location for companies aiming to enhance supply chain efficiency and minimize operational risk.
Reinvestment and Multinational Expansion
Companies that are reinvesting in Costa Rica’s life sciences sector demonstrate their belief in the country’s sustainable future. The Costa Rican life sciences industry represented 25% of total reinvestment activities in 2024, according to CINDE, while multinational companies started 14 new expansions and operational plants. These projects expand production capabilities and incorporate advanced processes with higher value such as R&D and clinical testing.
The second most active strategic sector in terms of new projects during 2024 was Life Sciences, since 19% of the 21 multinational companies that CINDE supported chose to establish operations in Costa Rica belonged to this sector.
Real Estate Boom Driven by Sector Demand
Costa Rica’s real estate market has been significantly transformed because of the fast-paced expansion of the Costa Rican life sciences industry. Daniel Álvarez, who serves as General Director of Cushman & Wakefield Costa Rica, states that developers have built more than 1 million square meters of industrial space to serve this sector. Construction is underway for an extra 160,000 square meters, while plans for over 800,000 square meters are in various stages of development. The extensive development level reflects a continuous and robust demand stream from multinational corporations that are expanding their operations within the nation.
The industrial facilities serve specialized functions to support businesses in medical device manufacturing, biotechnology, pharmaceuticals, and diagnostics sectors. Purpose-built infrastructure diminishes setup times and operational risks for new investors and enhances Costa Rica’s position as a regional hub.
Global Trends and Employment Outlook
The life sciences industry has shown strong employment growth worldwide as emerging markets such as Costa Rica take the lead. Costa Rica saw a 31% job growth in its sector during the past five years, which surpassed the 26% rise in headquarters markets and 16% increase in secondary markets.
The coming five years are likely to show a slower rate of expansion, but growth in the sector will continue to be positive. Employment in the life sciences sector of emerging markets like Costa Rica is forecasted to increase by 9.6%. The ongoing growth pattern indicates that the Costa Rican life sciences industry is moving toward maturity, which includes greater operational complexity and diversified innovation.
Ecosystem of Innovation and Talent
Costa Rica has gained a competitive edge in human capital development apart from its infrastructure and investment incentives. A highly educated bilingual workforce characterizes the nation and benefits from strong national support for STEM education alongside technical training initiatives. Collaborations between academic institutions and global companies have created curricula that meet industry standards while establishing a consistent flow of skilled workers.
Costa Rica hosts operations from over 90 international companies within the MedTech and life sciences sectors. Among these multinational companies, 13 top original equipment manufacturers (OEMs) utilize Costa Rica as a base for manufacturing alongside engineering and R&D operations and other high-value functions. The Costa Rican life sciences industry promotes knowledge sharing and innovative practices among partners, while collaboration leads to ongoing sector improvement and strengthened resilience.
Future Prospects and Strategic Role
The life sciences industry of Costa Rica will maintain its strategic importance within the nation’s economic framework. Costa Rica stands ready to attract new investments and strengthen its position as Latin America’s leader because global healthcare demand increases and supply chain resilience becomes crucial for multinational corporations.
To sustain the current momentum, it will be essential to keep focusing on workforce development while also advancing regulatory harmonization and infrastructure upgrades. The government, together with investment promotion agencies such as CINDE, dedicates their efforts to foster this ecosystem by providing targeted assistance and ensuring policy alignment.
Conclusion
Strategic investment initiatives combined with policy alignment and human capital development drove the expansion of the Costa Rican life sciences industry in the past ten years. Costa Rica now stands out as the top life sciences hub in the region because of its 216% employment increase coupled with strong real estate development and growing multinational interest. The expanding and evolving life sciences industry will probably strengthen Costa Rica’s global status in this sector.