For months, executives in biopharma and other life sciences have been expressing optimism that in 2026, the industry will emerge from its post-COVID-19 doldrums. They have cited positive trends ranging from the rebound of the market for biotech stocks, to a spate of initial public offering (IPO) filings in recent weeks, to an uptick in merger-and-acquisition (M&A) deals
The most recent sign of hope emerged last week when commercial real estate firm CBRE published its Fourth Quarter 2025 report on the U.S. life sciences market. The report showed the first quarterly decline since the second quarter of 2022 in the vacancy rate for lab/R&D space for the top 13 markets as ranked by CBRE—down 30 basis points (0.3%) to 23.0%, helped by a slowdown in new construction and increases in demand for space.
One manifestation of re-emerging confidence in life sciences is the wave of R&D and manufacturing…
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