PitchBook Analyst Note: Commercial Lab Space for Life Sciences Companies

Demand for commercial lab space has skyrocketed over the last several years as more and more life sciences startups receive VC funding. The COVID-19 pandemic has placed a premium on scientific and medical lab space, particularly in geographical clusters where there is a high density of biotech and pharmaceutical companies, along with a strong innovation ecosystem and funding landscape. In this report, we devised a methodology to calculate “Market Ecosystem Scores”—a scoring system ranking the top 15 US metropolitan statistical areas (MSAs) in the life sciences space based on relative maturity, growth and industry importance.