After thriving with the inventions of vaccines and antivirals that helped the world fight the COVID-19 pandemic, the biotech industry witnessed a slowdown this year due to the broader market correction.
However, the breakthrough developments in treating and preventing major life-threatening diseases, rising demand from the aging population, and successful trial results have created fruitful growth opportunities for this sector. The global biotechnology market is expected to grow at a CAGR of 9.9% to $852.55 billion by 2030.
