According to the 2025 National Life Sciences Report by the global real estate company Colliers, the Greater Philadelphia region has maintained its ranking as the #4 U.S. life science market, the same as in 2024.

The annual life science market ranking compares 18 leading U.S. life market metros based on weighted criteria around several key factors, as follows: 2024 venture capital funding (40%), the size of the market inventory (40%), FY 2024 NIH funding (5%), 2024 research-oriented life sciences workforce (5%), 2023 biomed degree completions (5%) and the amount of space absorbed over the past three years (5%).

Greater Philadelphia’s 2024 VC and NIH Funding Indicates Region’s Resilence

As noted in this year’s report, “venture capital is the lifeblood of many pre-revenue companies and startups as they develop new products to bring to market.” According to the 2024 Philadelphia Venture Report, Philadelphia metro startups raised $3.3 billion across 444 deals last year, a 37.5% increase from $2.4 billion across 403 deals in 2023. The average deal size also increased by 34.4% year-over-year.

The region’s venture capital snapshot also shows that the Philadelphia market, which includes Philadelphia-Camden-Wilmington Metropolitan Statistical Area, received $1.4 billion in NIH funding in FY24.

Greater Philadelphia’s Robust Life Sciences Talent Pool

The Colliers report also reflects Greater Philadelphia’s life science industry leadsership. In 2024 the local life sciences industry employed 25,300 workers, which underscores the region’s strong commitment to developing a skilled workforce and supporting the growth of the life sciences sector. Additionally, the latest data shows that 3,829 Greater Philadelphia-based higher education institution graduates earned degrees in biomedical sciences in 2023.

2024 Real Estate Development Snapshot

In 2024, Philadelphia’s life sciences leasing activity grew by more than 47% compared to the previous year, with local life science companies accounting for six of the top 10 2024 deals. They were as follows:

  • Dow – Extended their lease for 796,633 square feet in Collegeville.
  • Larimar Therapeutics – Raised $172.5 million in capital.
  • Resolian – Part of the transactions totaling 210,000 square feet in the third quarter.
  • Legend Biotech – Included in the third-quarter transactions.
  • Franklin Biolabs – Also part of the third-quarter leasing activity.
  • Wistar – Engaged in leasing deals during the third quarter.

Grow in Greater Philadelphia

Explore Colliers’  full 2025 National Life Sciences Report. For more information about the region’s life science interests and The Chamber of Commerce for Greater Philadelphia’s role in supporting the region’s growth, including by supporting businesses’ relocation or expansion in Greater Philadelphia, contact James Medaglio, Director, Business Attraction and Expansion, the Chamber, at [email protected].