What’s inside our lab space real estate market report?

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Life sciences is booming in the UK.

That’s no exaggeration either. This fast-growing sector has an estimated value of over £33.5bn and is on a rapid growth trajectory until 2030.

There’s only one obstacle in the way: the demand for lab space appears to be outgrowing the amount of real estate available.

Or so it seems.

In reality, this scientific fight for space is creating significant opportunities for enterprising developers and investors.

Does that sound like you? Then our FREE guide: ‘The UK Laboratory Market: The growing business sector that needs more space’ is the only blueprint you need, tailormade to put your business on the path to success. It’s time to join the exciting life sciences sector - and never look back.

So, what’s inside? Let's find out…

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What are the latest developments in the life sciences sector?

For a sector that prides itself on its ability to think two steps ahead, it’s no surprise that the life sciences industry is evolving again - especially in light of the events of the past few years.

But a lot’s changed at a rapid rate - so where are we now, exactly?

To start with, the UK is being firmly positioned as a world leader in life sciences - and it’s got the backing to do so.

The Government is making big investments

Undoubtedly, COVID-19 was pivotal in shining a spotlight on life sciences. Accelerating the demand for research and development (R&D), investments grew by around 50% during this time. But whilst the global impact of COVID-19 continues to recede, investments haven’t slowed down at all.

We’ve gone into more detail about the government’s strategy and the huge investment it’s making in life sciences inside our guide, but, the overarching goal is to drive innovation forward in the UK so it’s recognised as a global scientific superpower. Whether it’s now or in the next couple of years, there’s never been a better time to join the movement.

The thing to understand, though, is there's no movement without talent.

The hunt continues for tomorrow's top talent

Did you know that 90% of UK life sciences companies say they’re currently struggling to find the right talent?

Unsurprising when the ‘right’ talent needs to be highly skilled in complex computational disciplines. But without that talent, they can’t grow.

That's where the setting of your site comes in.

Much like the most desirable office, one that’s situated on the commuter belt and surrounded by modern amenities, laboratory location can play a crucial part in a talent’s decision-making process - and that's down to you.

Not sure where to go? Find out exactly what you need and where you need it in our FREE market review guide.

Laboratory space is now at a premium

The war for talent isn’t the only challenge a modern life science company faces; there’s also a growing demand for space. This makes sense when so many pharmaceutical companies, healthcare start-ups and drug developers expanded using the investment they gained during the pandemic.

New investors aren't out of the race yet, though. Because this lack of space for life science businesses has not only led laboratory design down exciting and progressive new paths; it’s opened up brand new markets in the process.

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The Golden Triangle

Historically, The Golden Triangle has been the preferred location for many science companies. Offering the perfect ecosystem for collaboration and talent acquisition, the Cambridge-London-Oxford hub has been dominant in the global laboratory market for many years. Consequently, the collective academic institution has been where the majority of investment has been.

But with the sector growing so rapidly The Golden Triangle is unable to facilitate such an increase in demand; which is good news for anyone looking to enter the space.

Why? Because right now new innovation clusters are popping up all over the UK, transforming the once exclusive Golden Triangle into an enterprising Golden Isle.

So where are the current scientific hotspots in the UK?

You’ll find a map highlighting the heaviest growth sectors in the laboratory market inside our FREE guide. And for inspiration, you can check out a selection of some of the innovative science parks and lab spaces that Area has worked on across the Golden Isle.

Today, the race is on for landlords and developers to secure, fit and provide additional purpose-built controlled environments; desirable destinations that laboratory staff simply want to spend their time in. And that's where we can help.

Laboratories designed as desirable destinations

Whilst technology is certainly enabling some aspects of work to be carried out from home, most day-day-day laboratory tasks need to be carried out using specialist equipment on site. And while the opportunity to work with cutting-edge tech is a major draw for talent, it’s the office space in a laboratory that can make your clinical or controlled environment a cut above the rest.

Much like the traditional office-based workspaces, many life science companies are redesigning the laboratory space to feel like a ‘home from home’ for their employees. We put together some examples of what this looks like inside our guide. But, essentially, it’s all about creating an on-site escape for staff - without them having to leave the facility.

Sounds smart? That’s just the start.

Flexibility and smart lab design

The shift towards flexible working has turned the world on its head - perhaps irreversibly so.

And its impact on lab spaces is no different.

More and more clinical and controlled environments are now being designed with flexible furniture such as locking casters; these allow you to rearrange benches and workstations to provide more economy of space. Not only that but ‘plug-and-play’ labs, designed to allow configuration to change as required, are offering a flexible way for teams to innovate more easily.

And that’s a major advantage; innovation can flourish, without major building renovations. Instead, you can seamlessly rearrange the lab, open it up for more researchers and remove the need for dedicated bench spaces.

This in itself is a positive shift towards more considered, environmentally-friendly laboratory design. But that's only the beginning of where things are heading.

Download our FREE guide today

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