European life sciences markets are gaining momentum as global demand drivers continue to push growth in the sector.

Western European countries such as Germany, Switzerland and the United Kingdom, are leading a rebound in global life sciences venture capital investment, says CBRE in its Global Life Sciences Atlas report.

“The growing prominence of the life sciences industry has sparked a wave of real estate development globally, with more than 35 million square feet (3.25 million square metres) of lab research and development (R&D) properties under construction last year,” says the report.

Among European hubs, London has the most amount under construction, followed by Barcelona, Oxford and Cambridge. With 2.7 million square feet (251,000 square metres) of building work, the UK capital has tied fourth with San Francisco in CBRE’s life sciences construction rankings. Several years of robust venture capital funding have helped to fuel London’s b