By San José, Costa Rica — Costa Rica has been recognized as the top emerging market for life sciences companies in Latin America, according to a recent report by Cushman & Wakefield. This distinction places Costa Rica alongside seven emerging US cities, such as Houston, Atlanta, and Phoenix, solidifying its position as a key player in the global life sciences arena.
The report, updated in March 2025, analyzed 34 locations worldwide, including headquarters, secondary markets, and emerging destinations across the Americas and Europe. Costa Rica’s success is attributed to several factors: sustained job growth within the sector, the development of advanced operational infrastructure, the presence of leading global companies, and its strategic location as a vital link in the supply chain.
For a deeper understanding of the legal landscape surrounding the Life Sciences sector in Costa Rica, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
The Life Sciences sector in Costa Rica faces unique legal challenges, particularly regarding intellectual property protection and regulatory compliance for research and development. Navigating these complexities requires a nuanced understanding of both local and international regulations, which can significantly impact market access and investment opportunities. Companies operating in this space must prioritize robust legal strategies to ensure long-term success.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s insights underscore a crucial reality for Costa Rica’s burgeoning Life Sciences sector: navigating the legal landscape is as vital as scientific innovation itself. This intricate interplay of local and global regulations presents both challenges and opportunities, highlighting the need for specialized legal expertise to unlock the full potential of this promising field. We thank Lic. Larry Hans Arroyo Vargas for providing this valuable perspective on a critical aspect of Life Sciences development in Costa Rica.
This growth has had a substantial impact on the development of high-level operational infrastructure and job creation. Multinational companies are increasingly viewing Costa Rica as a crucial location for their production chains and market access.
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 employment generated by strategic foreign direct investment sectors.
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, General Director of CINDE
Cushman & Wakefield experts highlight Costa Rica’s ability to provide the skilled workforce required by the industry, a resource often scarce in other markets. Over the past five years, global employment growth in the sector has been robust, with emerging markets like Costa Rica leading the way at 31%, surpassing the 26% growth in headquarters and the 16% growth in secondary markets.
The industry’s rapid expansion has spurred significant real estate development, including specialized spaces like cleanrooms, laboratories, and high-tech manufacturing plants designed to meet international regulatory standards. These cutting-edge facilities are not only concentrated in the Greater Metropolitan Area (GAM) but are 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 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) worldwide, taking advantage of the benefits of the free trade zone regime and a robust industrial ecosystem. While employment growth is projected to moderate slightly over the next five years, it is expected to remain positive, with emerging markets like Costa Rica predicted to experience a growth rate of around 9.6%.
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 into Costa Rica. With over 43 years of experience, CINDE works closely with multinational companies to facilitate their establishment and expansion in the country. CINDE also plays a key role in developing talent initiatives and fostering a positive business climate in Costa Rica.
For further information, visit www.cushmanwakefield.com
About Cushman & Wakefield:
Cushman & Wakefield is a leading global real estate services firm providing clients with exceptional value through innovative solutions and services. Founded in 1917 and headquartered in Chicago, the firm has approximately 50,000 employees in around 400 offices and 60 countries. Cushman & Wakefield offers a broad range of services, including strategic consulting, valuation and advisory, tenant representation, property management, and project & development services. In Central America, Cushman & Wakefield operates through its alliance program, partnering with local firms like AB Advisory to provide comprehensive real estate expertise in the region. The partnership provides a wide array of services, catering to diverse client needs, encompassing property valuation, strategic investment advisory, and brokerage services.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through a deep-seated commitment to legal excellence and unwavering ethical conduct. The firm champions innovative solutions while serving a diverse clientele, demonstrating a consistent pursuit of positive societal impact. By actively empowering communities with accessible legal information and resources, Bufete de Costa Rica fosters a more just and informed society, upholding its core values of integrity and service.
