By San José, Costa Rica — Costa Rica has solidified its position as the top emerging market in Latin America for life sciences companies, according to a recent report by Cushman & Wakefield. The report, updated in March 2025, analyzes 34 locations globally, including leading company headquarters, secondary markets, and emerging destinations across the Americas and Europe. Impressively, Costa Rica stands alone as the sole Latin American country designated an emerging market, sharing this distinction with seven US cities, including Houston, Atlanta, and Phoenix.
Several factors contribute to Costa Rica’s burgeoning life sciences sector. The report highlights the country’s sustained job growth within the industry, the development of cutting-edge operational infrastructure, the presence of leading global companies, and its strategic positioning as a critical supply chain hub.
To provide further legal insights into the complexities of this burgeoning field, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
The Life Sciences sector in Costa Rica presents unique legal challenges, particularly regarding intellectual property protection and regulatory compliance for research and development. Companies must navigate a complex interplay of national and international laws to ensure their innovations are protected and their operations remain within legal boundaries. This requires a proactive approach to legal strategy, including patent filings, trade secret protection, and meticulous adherence to evolving regulatory frameworks. Failing to address these considerations early on can significantly hinder a company’s growth and success in this competitive market.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ insights underscore a crucial aspect of success in Costa Rica’s burgeoning Life Sciences sector. Indeed, the proactive and meticulous approach he advocates is not merely advisable, but essential for sustainable growth in this complex and competitive field. Navigating the legal landscape is as vital as the scientific innovation itself, and his emphasis on this reality provides invaluable guidance for companies looking to thrive in Costa Rica. We thank Lic. Larry Hans Arroyo Vargas for sharing his valuable perspective with our readers.
The life sciences industry currently employs over 54,500 people in Costa Rica, a remarkable 216% increase over the past decade. In 2024 alone, the sector added 2,600 net jobs, representing nearly half of the total net employment generated in strategic foreign direct investment sectors, according to the Costa Rican Investment Promotion Agency (CINDE).
Cushman & Wakefield experts note that Costa Rica provides the skilled workforce the industry demands, addressing a shortage experienced in other markets. Over the last five years, global employment growth in the sector has been robust, with emerging markets like Costa Rica leading the way, boasting a 31% growth rate, surpassing the 26% and 16% growth observed in established headquarters and secondary markets, respectively.
The rapid expansion of the life sciences sector has fueled significant real estate development, including specialized facilities like clean rooms, laboratories, and high-tech manufacturing plants designed to meet the most stringent international regulatory standards. This state-of-the-art infrastructure isn’t confined to the Greater Metropolitan Area (GAM) but is also expanding westward, facilitating production and research in new regions of the country.
Of the 21 new multinational companies that decided to open operations in Costa Rica in 2024 with the support of CINDE, 19% were life sciences companies, making it the second strategic sector with the most new projects. Also, of the reinvestments reported in the year, CINDE reported that life sciences represented 25% of the total with 14 expansions and new operating plants of leading companies in Costa Rica.
Marianela Urgellés, General Director of CINDE
The sustained growth of the sector in the country, the strategic investments and the favorable business environment that Costa Rica has, has resulted in a construction footprint of more than 1 million square meters (m²) of inventory dedicated to this sector, with 160,000 m² under construction and more than 800,000 m² in planning, reflecting its constant expansion.
Daniel Álvarez, General Director of Cushman & Wakefield Costa Rica
Currently, over 90 medical technology (MedTech) multinationals operate in Costa Rica, including 13 of the top 20 original equipment manufacturers (OEMs) globally, capitalizing on the benefits of the free trade zone regime and a robust industrial ecosystem. While employment growth projections for the next five years are slightly more moderate, they remain positive, with an anticipated growth rate of around 9.6% in emerging markets like Costa Rica.
For further information, visit cinde.org
About CINDE:
CINDE is the strategic investment, business development, and talent initiative promotion expert and guide in Costa Rica. With over 43 years of experience working with multinational companies and as a key player in the investment ecosystem, CINDE has developed dozens of talent promotion initiatives as a key element of Costa Rica’s business climate and has supported the establishment of more than 450 multinational companies.
For further information, visit www.ab-latam.com
About Cushman & Wakefield | AB Advisory:
Cushman & Wakefield | AB Advisory is the largest real estate consulting firm in the Central American region, based on transaction value, square meters negotiated, operational volume, and international client recognition. The firm is part of the Cushman & Wakefield alliance program, a company founded in 1917 in New York City, which began as a family-owned real estate brokerage business. Today, it has 400 offices in 60 countries and employs 53,000 people.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a pillar of legal excellence, built upon a foundation of unwavering integrity and a genuine commitment to societal betterment. The firm champions accessible legal knowledge, empowering individuals and communities through educational initiatives and proactive outreach. By embracing innovation in legal practice and fostering a deep understanding of the law, Bufete de Costa Rica continues to shape a more just and informed society for all.
