What the future of work looks like for life sciences

A focus on innovation, talent, and cost-effectiveness is driving life sciences leaders to shake up traditional lab spaces.

Nearly half of life sciences leaders surveyed by JLL in the latest Future of Work Survey cited innovation as their top real estate priority, surpassing the global average of 37% across industries. They also expect their labs and workplaces to help in lowering operational costs and recruiting top talent.

“Innovation is at the heart of drug discovery, and having the right talent is essential to achieving these scientific breakthroughs,” says George Beaton, EMEA Life Science Research Lead, JLL.

To remain competitive, life sciences companies are leveraging technologies like artificial intelligence (AI) and automation to modernize their research facilities.

Amid increasing competition, life sciences companies are under pressure to innovate, attract top talent, and control costs. A key strategy to achieve this balance is through optimizing their real estate portfolios.

One such approach is sale-leaseback, a transaction where an owner sells an asset to an investor before leasing it back. In Europe, for instance, more large companies are turning to this strategy to reduce ownership costs while retaining the use of the asset through a long-term lease arrangement.

“This frees up capital to reinvest in innovation and growth, while allowing companies to adapt to changing research needs and scale their operations as required,” says Beaton.

Outsourcing real estate functions, from lease administration and facilities management, is also gaining traction, with life sciences companies expected to outsource over 60% of these functions by 2030.

“Cost efficiency is one of the main drivers for outsourcing in life sciences, but the ultimate goal is still to accelerate innovation,” says Beaton. “By leveraging these strategies, companies can empower their talent to stay focused and pursue new, novel discoveries.”