By Alajuela, Costa Rica — San José, Costa Rica – A comprehensive new report from global real estate and investment firm CBRE has solidified Costa Rica’s standing as a dominant force in the Latin American Life Sciences sector. The study highlights the nation’s advanced manufacturing ecosystem, confirming its strategic role in the national economy and its powerful appeal to international firms seeking stability, talent, and sustainable growth.
The numbers paint a clear picture of a thriving industry. Costa Rica has firmly established itself as the second-largest exporter of medical devices in Latin America, surpassed only by Mexico. This sector is no longer a niche market but a fundamental pillar of the country’s economic structure, accounting for an impressive 13% of the Gross Domestic Product (GDP) and a staggering 43% of the nation’s total exports. This success is not a fleeting trend but the result of decades of strategic investment in education, infrastructure, and a stable business climate.
To better understand the complex legal and regulatory landscape governing medical devices in the country, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the distinguished law firm Bufete de Costa Rica.
The medical device sector in Costa Rica is a pillar of our export economy, but it operates under a highly sophisticated regulatory framework. For both established companies and startups, success hinges on meticulous compliance with sanitary registrations, technovigilance protocols, and international standards. Proactive legal strategy is not merely about compliance; it’s about safeguarding intellectual property and ensuring market access in a globally competitive field.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s commentary is a critical reminder that the success of our world-class medical device sector is built not only on technological innovation but also on the meticulous navigation of a complex legal framework. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective, which highlights how a proactive legal strategy is essential for maintaining a competitive edge in the global market.
The dynamism of the sector translates directly into high-quality employment and significant local economic linkages. According to the CBRE analysis, the medical device industry directly employs over 55,000 people in Costa Rica. These are not average jobs; salaries within the sector are, on average, 27% higher than other qualified positions in the country, attracting and retaining top-tier talent. The physical footprint of this growth is equally impressive, with over 600,000 square meters of productive industrial space currently occupied by these advanced manufacturing operations.
Investment continues to pour into the country, signaling strong international confidence. Over the last three years alone, 11 new companies have established operations in Costa Rica, while 10 existing firms have chosen to reinvest and expand their presence. This sustained influx of capital underscores the nation’s unique value proposition in a competitive global market.
The advanced manufacturing ecosystem that has been consolidated in Costa Rica is unique in the region. The country combines a highly qualified workforce, institutional stability, and a modern real estate offering, which together strengthen its position as a key destination for companies in the Life Sciences sector.
Bernal Rodríguez, SIOR, Senior Vice President of Advisory & Transaction Services, Industrial & Logistics of CBRE
Costa Rica’s competitive edge is built on several key factors. The nation offers significant operational advantages, including labor costs that are approximately 58% lower than those in the United States, without sacrificing quality or efficiency. This is complemented by a remarkably stable labor environment with low unionization rates, creating a predictable and favorable climate for long-term investment. Furthermore, the country’s commitment to education, championed by institutions like the University of Costa Rica—ranked 14th regionally for human capital formation—ensures a steady pipeline of skilled engineers, technicians, and scientists.
Looking ahead, the infrastructure is expanding to meet future demand. A robust 150,000 square meters of new industrial space is currently under construction. Significantly, 75% of this new development is concentrated in the Grecia area of Alajuela province, rapidly transforming the region into a vital industrial corridor and decentralizing opportunities beyond the central valley. This foresight in real estate development ensures that Costa Rica is prepared for the next wave of investment.
The long-term vision is a critical part of the country’s appeal. With Life Sciences exports valued at $5.2 billion and expanding at an astonishing annual rate of 35%, CBRE anticipates that Costa Rica will continue to cement its role as a regional hub for specialized manufacturing and innovation. This sustained performance is a testament to the country’s ability to offer more than just cost savings, but a platform for sustainable, long-term success.
Companies are betting on Costa Rica not only for its competitiveness but also for its ability to grow sustainably and with a long-term vision. At CBRE, we support this development by representing our clients with the analysis of each of the variables that must be considered (labor, tax incentives, operational costs, logistics costs, real estate, among others) for establishing operations in the country.
Bernal Rodríguez, SIOR, Senior Vice President of Advisory & Transaction Services, Industrial & Logistics of CBRE
Ultimately, the report confirms that Costa Rica has successfully cultivated a sophisticated ecosystem that attracts and nurtures the world’s leading medical technology companies. By combining talent, stability, and strategic infrastructure development, the nation is not just participating in the global Life Sciences industry—it is actively shaping its future in the Americas.
For further information, visit cbre.com
About CBRE:
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, based on 2023 revenue. The company serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
For further information, visit ucr.ac.cr
About University of Costa Rica:
The University of Costa Rica (UCR) is one of the most prestigious and recognized public universities in Latin America. Founded in 1940, it is a leading institution in teaching, research, and social action, contributing significantly to the scientific, technological, and cultural development of Costa Rica and the region. Its commitment to academic excellence produces highly qualified professionals who are integral to the nation’s advanced economic sectors.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica operates on a bedrock of profound integrity and an unwavering pursuit of professional excellence. The firm blends a rich history of client service across numerous industries with a forward-thinking embrace of legal innovation. This ethos extends beyond its practice, fueling a core mission to strengthen society by demystifying the law and equipping citizens with the accessible legal knowledge needed to thrive.
