Life science foreign direct investment (FDI) into the United States surged to $83.3 billion in 2025 as manufacturers moved production stateside amid tariff and pricing pressures. Canada also posted its strongest year since 2017 at $2.2 billion, more than double its 2024 level. But Canada’s gains pale next to the US boom: Canada attracted less than 3 percent of the US total in 2025, down from about 10 percent on average over 2017-2024. Elsewhere, China held steady as the second-largest destination at $4.1 billion, followed by Ireland ($2.5 billion) and the UK ($2.3 billion). Canada is attracting investment, but risks falling further behind the US as global life science investment concentrates south of the border.
For more information see Self-Imposed Barriers Hampering Canada’s Life Science Sector.
