Between 2019 and 2022, life science companies in India occupied 8.06 million sq ft of office space, with Bengaluru and Hyderabad ranking first and third, respectively. The cities play a pivotal role in India’s bioeconomy but come with their unique strengths that make companies and investors prefer them over any other
Life science research and development in India is increasing substantially, driven by a combination of government initiatives, a skilled workforce, and continued investments. The COVID-19 pandemic has further elevated the significance of this industry, spotlighting India’s role as a major global player in vaccine production and pharmaceutical R&D. Together, this has led to a surge in real estate demand that is likely to reach approximately 96 million sq ft by 2030 (1). A sizeable part of this will be required in Bengaluru and Hyderabad that are among India’s top cities oiling the wheels of life science with a swift growth in biotechnology, pharmaceuticals, and medical technology. Between 2019 and 2022, life science companies in India occupied 8.06 million sq ft of office space, with Bengaluru and Hyderabad ranking first and third, respectively (2). The cities play a pivotal role in India’s bioeconomy but come with their unique strengths that make companies and investors prefer them over any other.
