Canada's life sciences industry is booming and presents a promising investment opportunity in 2023. The industry is supported by a highly skilled talent pool, sophisticated real estate, and spending. The government's recent announcement of the Strategic Innovation Fund will further boost the innovation ecosystem and provide stability for firms taking on high-risk research initiatives. Life sciences is a preferred alternative asset for investors due to its potential for greater returns and stability. Canada's top 50 scientific programs globally provide a highly skilled talent pool for the industry. With a growing senior population and increasing health spending worldwide, the life sciences industry is an increasingly attractive investment opportunity.
Key Report Highlights:
- Canadian markets have low levels of lab space compared to other leading markets, creating an opportunity for custom-built lab space or repurposing of existing assets.
- Life sciences was the top preferred “alternative asset” in Colliers’ Global Investor Survey.
- Life sciences industries benefit from long-term demographics trends such as an aging population, increasing lifespan and growing spending on health care.
- Recent federal initiatives such as the Strategic Innovation Fund have catalyzed the sector, providing opportunities for large and small occupiers. Life sciences is tied to strong government support, similar to industries like arts and film production.
- Canada has strong scientific education and talent, crucial for an industry that relies on a highly educated and technical workforce.