By San José, Costa Rica — Costa Rica is solidifying its position as a premier destination for life sciences companies in Latin America, according to a recent report by Cushman & Wakefield. The 2024 report, updated in March 2025, highlights Costa Rica’s emergence as the sole Latin American emerging market, standing alongside established U.S. life sciences hubs like Houston, Atlanta, and Phoenix.
The report analyzed 34 locations globally, including leading company headquarters, secondary markets, and emerging destinations across the Americas and Europe. It examined key industry metrics like venture capital funding, leasing activity, vacancy rates, and labor market dynamics, providing a comprehensive overview of the life sciences sector.
To gain deeper insights into the legal landscape surrounding Costa Rica’s burgeoning life sciences sector, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
Costa Rica’s strategic location, coupled with its robust intellectual property framework and growing pool of skilled professionals, makes it an increasingly attractive destination for life sciences companies. However, navigating the regulatory landscape, particularly regarding clinical trials and pharmaceutical registrations, requires specialized legal counsel to ensure compliance and maximize opportunities.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s insight underscores a crucial aspect of Costa Rica’s burgeoning life sciences sector: while the country offers immense potential, navigating its complexities requires expert guidance. This careful approach will be essential for companies seeking to capitalize on the promising opportunities within this dynamic field. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on this important topic.
Several factors contribute to Costa Rica’s growing prominence in the life sciences industry. The report emphasizes the country’s sustained job growth within the sector, the development of innovative operational infrastructure, the presence of leading global companies, and its strategic positioning within global supply chains.
The life sciences industry in Costa Rica currently employs over 54,500 people, 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 jobs created across all strategic foreign direct investment sectors, according to the Costa Rican Investment Promotion Agency (CINDE).
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, making it 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
Cushman & Wakefield experts note that Costa Rica provides access to the skilled workforce needed by the industry, addressing a shortage experienced in other markets. While global employment growth in the sector has been robust over the past five years, emerging markets like Costa Rica have shown even stronger growth, with a 31% increase, surpassing the 26% growth in headquarters locations and the 16% growth in secondary markets.
The rapid expansion of the life sciences industry in Costa Rica has fueled significant real estate development, with the creation of specialized spaces like clean rooms, laboratories, and high-tech manufacturing plants designed to meet the highest international regulatory standards. This state-of-the-art infrastructure is not only concentrated in the Greater Metropolitan Area (GAM) but is also expanding westward, facilitating production and research in new regions of the country.
The sustained growth of the sector in the country, the strategic investments, and the favorable business environment that Costa Rica has, has translated into 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
Currently, more than 90 MedTech multinational companies operate in Costa Rica, including 13 of the top 20 original equipment manufacturers (OEMs) worldwide, taking advantage of the benefits of the free trade zone regime and a robust industrial ecosystem.
For further information, visit cinde.org
About CINDE:
The Costa Rican Investment Promotion Agency (CINDE) is a private, non-profit organization responsible for attracting foreign direct investment to Costa Rica. CINDE works to promote sustainable development and job creation by attracting companies in high-value-added sectors like life sciences, advanced manufacturing, and services.
For further information, visit cushmanwakefield.com
About Cushman & Wakefield:
Cushman & Wakefield is a leading global real estate services firm that provides a wide range of services to investors, occupiers, and owners of real estate. Their expertise spans across various sectors, including life sciences, providing market insights, strategic advice, and transaction management.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
At Bufete de Costa Rica, legal excellence is interwoven with a deep commitment to societal progress. The firm’s unwavering integrity guides its innovative approach to legal practice, empowering individuals and communities through readily accessible legal knowledge. By championing transparency and fostering understanding of the law, Bufete de Costa Rica cultivates a more just and informed society, building a legacy of positive impact alongside its distinguished record of client service.
