The Life Sciences Industry in Costa Rica has seen its employment numbers surge by 216% over the last decade
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Costa Rica has established itself as a premier investment destination for life sciences industries and has surpassed numerous other emerging markets worldwide. The life sciences industry of Costa Rica witnessed exceptional growth during the last ten years, according to the March 2025 Cushman & Wakefield report, which showed a 216% employment increase that solidified this sector as an essential component of Costa Rican economic strategy.
Rising Global Status in Life Sciences
While Costa Rica has earned global recognition for its high-tech manufacturing and innovation achievements, the life sciences industry in Costa Rica has emerged as a new leading sector. The 2024 Life Sciences Sector Update by Cushman & Wakefield reveals that Costa Rica stands as a primary Latin American market alongside major U.S. life sciences hubs such as Minnesota, Massachusetts, and California.
Strategic National Efforts Behind the Boom
The report indicates that this success came about through intentional strategic planning rather than by chance. The main factors behind the success are rapid sector employment expansion, together with specialized infrastructure development and the rising number of international companies operating in the field. The Latin American region now relies heavily on Costa Rica as it has become an essential part of the worldwide life sciences supply network.
Employment Growth: A Key Indicator of Success
The sector demonstrates growth through its employment statistics. The workforce of the life sciences industry in Costa Rica expanded more than threefold to surpass 54,500 employees by 2024 over the last decade. The industry growth stems from established companies expanding and new businesses taking advantage of Costa Rica’s experienced workforce and positive business environment.
The life sciences industry in Costa Rica stands at the forefront of foreign investment job creation.
The Costa Rican Investment Promotion Agency (CINDE) reported that the life sciences sector created 2,600 new jobs in 2024. The industry created nearly half of all new jobs from foreign direct investment in Costa Rica during that year, which demonstrates its significant role in employment creation.
Future Outlook: Steady Growth Expected
Projections stay optimistic despite expectations for a slight moderation in employment growth in the upcoming years. The latest analysis by Cushman & Wakefield projects that employment will grow by 9.6% in emerging markets, including Costa Rica, during the next five years. The sustained growth will be driven by new market players entering the field and reinvestment efforts from established industry leaders.
Continued Investment and Expansion
CINDE reported that out of the 21 multinational companies which started operations in Costa Rica during 2024, 19% represented the life sciences field. The industry emerged as a key player in reinvestment decisions since life sciences firms accounted for 25% of both expansions and new plant developments during that year. Major projects from global MedTech leaders expanded their operations across the country totaling 14 major initiatives.
A Hub for Multinational MedTech Firms
Costa Rica hosts more than 90 multinational medical technology (MedTech) companies in its territory. The country demonstrates its importance by hosting 13 top original equipment manufacturers (OEMs) from the world’s leading 20, establishing itself as a top manufacturing center for high-value medical devices.
A Robust Ecosystem for High-Tech Manufacturing
The industrial concentration has developed a strong ecosystem through support from leading academic institutions and a bilingual workforce of highly educated professionals, along with government policies designed for the industry’s benefit. Life sciences businesses gain substantial financial advantages from free trade zone regulations through exemptions on income tax and trade tariffs for imports and exports, which make the country an economical long-term operational choice.
Industrial Real Estate Expansion to Support Growth
The expansion of the life sciences industry in Costa Rica has resulted in significant development in industrial real estate. The enlargement of corporate operations has resulted in increased demand for cleanrooms and laboratories along with high-tech manufacturing facilities.
Cushman & Wakefield Costa Rica indicates that more than 1 million square meters of industrial real estate space has been developed for this sector. Construction crews are building 160,000 square meters of industrial space, and developers have plans for over 800,000 square meters. The facilities meet rigorous international standards, which demonstrate Costa Rica’s capability to handle complex operations requiring advanced technology and strict regulation.
Infrastructure and Education: Pillars of Industry Support
The Costa Rican government has partnered with CINDE and private sector actors to make strategic infrastructure investments for life sciences development. The country’s strategic investments focus on specialized industrial parks alongside improved transportation networks and streamlined logistics and customs processes.
Research and development in the industry advanced through the simultaneous development of innovation hubs and academic institution partnerships. Universities in Costa Rica maintain a consistent stream of STEM graduates while dual education and technical training programs guarantee that the workforce meets industry requirements.
Competitive Advantages Beyond Cost
Strong intellectual property protections, together with political stability and sustainability efforts, make Costa Rica an attractive destination for multinational companies. The combination of these elements enhances Costa Rica’s attractiveness as a destination for enduring operations with substantial financial investment.
Integration into Global Supply Chains
The country’s strategic location, combined with its robust integration into global supply chains, has proven advantageous for its life sciences industry in Costa Rica. Companies can efficiently export their products around the world because they benefit from both proximity to the U.S. market and multiple free trade agreements, which provide preferential trade access.
Alignment with ESG Principles
Global companies looking for responsible production environments find Costa Rica’s environmental, social, and governance standards in alignment with their expectations. Costa Rican operations experience both reduced reputational risk and increased long-term value through this alignment.
Two Decades of Strategic Development
The life sciences industry in Costa Rica developed into success through a process that took over two decades. Costa Rica’s achievements derive from over twenty years of deliberate policy-making combined with infrastructure development and public-private sector partnerships. The country offers companies a unique value proposition: Businesses find value through Costa Rica’s competitive pricing along with operational excellence while benefiting from a skilled workforce supported by stable political conditions.
The country stands out as a premier manufacturer of advanced medical devices.
Costa Rica has become a popular manufacturing destination and strategic collaborator in the eyes of global investors. The life sciences sector within this country moved beyond the creation of low-complexity components to become a hub for producing and exporting Class II and Class III medical devices. The progression reflects an advanced ecosystem that demonstrates the capacity to expand innovative efforts.
Setting the Standard for Emerging Markets
Costa Rica emerges as the standout choice for multinational companies that want resilient and innovative locations to expand their operations cost-effectively. Costa Rica’s position as a leading investment location in life sciences has been underpinned by its 216% employment growth in the last ten years, along with its excellent infrastructure and supportive policies.
The life sciences industry in Costa Rica demonstrates exceptional performance through sustained reinvestment and strong job growth while gaining global recognition. This industry sets the standard for emerging markets in a competitive, high-tech world.
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