The Greater Boston commercial lab market and life sciences industry has seen positive absorption of more than 400,000 square feet of lab space during the first half of the year, but vacancy rates have increased from 10 percent to 11.4 percent, according to Colliers Meredith & Grew’s “Summer 2008 Life Sciences REview.”

Tenant demand has slowed somewhat, but the development pipeline remains active, the report said.

The Greater Boston commercial lab market totals approximately 16.8 million square feet.

At 3.4 million square feet, Boston’s lab supply is primarily concentrated in buildings proximate to the hospitals and research institutions in the Longwood Medical Area; facilities occupied by the Massachusetts General Hospital in Charlestown and on Cambridge Street; and BioSquare, a lab development located adjacent to Boston Medical Center on Albany Street and sponsored by Boston Medical Center and Boston University.