Intelligent Investment
Raleigh-Durham Market
Global Life Sciences Atlas
April 11, 2025 5 Minute Read
Overview
- The Raleigh-Durham life sciences cluster is one of the most important in the U.S., with a strong, historical presence of the pharmaceutical industry and massive, new investments in biomanufacturing facilities. More than 40,000 work in the local industry, with over 13,000 employed in life sciences research and development (R&D) roles.
- Raleigh-Durham has roughly 9.5 million sq. ft. of leasable life sciences lab/R&D space, as well as another 1.6 million sq. ft. of owner-occupied space.
- Between 2019-2024, Raleigh-Durham life sciences companies secured almost $4.4 billion in life sciences venture capital funding, the 13th-highest amount in the world.
- Supporting a dynamic life sciences ecosystem are world-renowned universities (Duke University, University of North Carolina, North Carolina State University, among others) and the Research Triangle Institute.
- In FY 2024, the National Institutes of Health (NIH) allocated almost $1.6 billion—the fifth-highest amount in the U.S.—to organizations in Raleigh-Durham for healthcare and life sciences initiatives.
Submarkets
Industry Presence
- More than 40,000 people work in the region’s life sciences industry, comprising 4.5% of Raleigh-Durham’s total employment, a far higher density than the U.S. average of 1.4%.
- The Raleigh-Durham life sciences cluster employs more than 13,000 people in life sciences R&D roles, the nation’s 10th-largest number of these researchers.
- Raleigh-Durham life sciences companies secured more than $772 million of venture capital funding last year, the eighth-largest amount across global markets.
Life Sciences Venture Capital Investment Trends
Figure 1: Life Sciences Venture Capital Funding
Life Sciences Market Stats
Figure 2: Market Overview
Development Pipeline or Activity
Figure 3: Lab/R&D Space Under Construction
- Amgen
- AstraZeneca
- Biogen
- Diosynth Biotechnologies
- Eli Lilly
- FujiFilm
- Gilead
- GSK
- Merck
- Novartis
- Novo Nordisk
- Pfizer
- Syngenta
- ThermoFisher Scientific
- United Therapeutics
- Duke University
- North Carolina State University
- Research Triangle Institute
- University of North Carolina
Global Life Science Markets
-
The New York City life sciences cluster has demonstrated significant growth and momentum over the last several years. Almost 59,000 people work in the industry in New York City proper and its adjacent counties.
-
The Philadelphia life sciences cluster is one of the most important in the U.S., with a strong, longstanding presence of the big pharma industry, and has also emerged recently as a top center for cell and gene therapy innovation.
-
The life sciences cluster stretching across the Washington, D.C.-Baltimore region is one of the most important in the U.S., bolstered by the presence of federal government agencies and world-renown universities.