JLL has identified Brazil and Mexico as promising life sciences clusters that are ripe for investment for pharmaceutical and biotechnology companies looking for outward expansion, released in its fourth annual Life Sciences Outlook Report.
JLL, a global trends think-tank specializing in analyzing life sciences financial clusters, states that Brazil’s status as a top medical device producer and second largest producer of biotech crops in South America as the reasoning for its inclusion.
Mexico, on the other hand, has a middle class primed for growth combined with an aging population, both of whom are demanding better access to healthcare from their economies. According to JLL, sales of pharmaceutical products there are expected to rise from $16.4 billion in 2013 to $21.5 billion by 2018.
"The challenge to stay nimble and respond to sales and manufacturing opportunities is shaping life sciences industry expansion in emerging economies around the world," JLL Life Sciences Executive Managing Director Roger Humphrey said. "Those who can quickly secure sites and the right real estate in new markets will have a competitive advantage for years to come."
JLL also mentioned China, India, Indonesia, Israel, Singapore, South Korea and Turkey as fertile grounds for investment in its Life Sciences Outlook Report.
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