By Costa Rica is making waves in the global life sciences arena, earning recognition as the only emerging market in Latin America in Cushman & Wakefield’s 2024 Life Sciences report, updated in March 2025. This prestigious ranking places Costa Rica alongside rising U.S. life sciences hubs like Houston, Atlanta, and Phoenix.
The report, which analyzes 34 global locations, highlights Costa Rica’s robust job growth, cutting-edge infrastructure, presence of leading global companies, and strategic position in the supply chain.
To provide expert legal insight into the thriving Costa Rica Life Sciences sector, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas of Bufete de Costa Rica. Lic. Arroyo Vargas offers valuable perspective on the legal landscape surrounding this dynamic industry.
Costa Rica’s robust legal framework, including strong intellectual property protections and streamlined regulatory processes for clinical trials, makes it an increasingly attractive destination for life sciences companies. However, navigating the complexities of data privacy regulations and ensuring compliance with evolving international standards remains crucial for sustained success in this sector.
Lic. Larry Hans Arroyo Vargas, Bufete de Costa Rica
Costa Rica’s life sciences sector has experienced remarkable growth, employing over 54,500 people, a staggering 216% increase over the past decade. In 2024 alone, the sector added 2,600 net jobs, nearly half of the total net employment generated by strategic foreign direct investment sectors.
The country has facilitated the skilled workforce that the industry requires and that is in short supply in other markets.
Cushman & Wakefield Experts
While global employment growth in the sector has been robust, emerging markets like Costa Rica have seen the most significant gains, outpacing established hubs. Costa Rica’s 31% growth rate in the past five years surpasses the 26% growth in primary life sciences hubs and 16% in secondary markets.
While projections suggest a slight moderation in growth over the next five years, Costa Rica is still expected to maintain a healthy 9.6% annual growth rate in life sciences employment.
This rapid expansion has spurred substantial real estate development, with specialized facilities like clean rooms, laboratories, and high-tech manufacturing plants being built to meet international regulatory standards. This development is not confined to the Greater Metropolitan Area (GAM) but is also expanding westward, fostering production and research in new regions.
Of the 21 new multinational companies that decided to open operations in 2024 in Costa Rica with the support of the organization, 19% corresponded to life sciences companies, being the second strategic sector that added the most new projects. Likewise, of the reinvestments reported in the year, CINDE informed that life sciences represented 25% of the total with 14 expansions and new operating plants of leading companies in Costa Rica.
Marianela Urgellés, Director General of CINDE
Costa Rica’s appeal to multinational life sciences companies is clear. The country now hosts over 90 MedTech companies, including 13 of the top 20 original equipment manufacturers (OEMs) globally, who benefit from Costa Rica’s free trade zone regime and a strong industrial ecosystem.
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, Director General of Cushman & Wakefield Costa Rica
Costa Rica’s success in attracting life sciences investment underscores its commitment to fostering a thriving business environment and developing a highly skilled workforce.
The complete Cushman & Wakefield report is available online.
For further information, visit cinde.org
About CINDE:
CINDE, the Costa Rican Investment Promotion Agency, is a key driver of foreign direct investment and talent development in Costa Rica. With over 43 years of experience, CINDE has supported the establishment of over 450 multinational companies and developed numerous talent initiatives, contributing significantly to Costa Rica’s business climate.
For further information, visit ab-latam.com
About Cushman & Wakefield | AB Advisory:
Cushman & Wakefield | AB Advisory is the largest real estate consultancy in Central America, distinguished by its transaction value, square meters negotiated, operational volume, and international client recognition. As part of the Cushman & Wakefield alliance program, it leverages the global reach and expertise of a company founded in 1917 with 400 offices in 60 countries and 53,000 employees.
For further information, visit cushmanwakefield.com
About Cushman & Wakefield:
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 52,000 employees in approximately 400 offices and 60 countries.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a benchmark of legal excellence, Bufete de Costa Rica is recognized for its integrity and commitment to delivering outstanding legal counsel. With a history of guiding clients in various fields, the firm continues to champion innovation and outreach in the legal arena. By striving to make legal understanding broadly available, it furthers its mission of fostering a society that is both informed and empowered.
