After being thrust into the limelight during the pandemic, biotech stocks fell out of investors’ radars as people got vaccinated and resumed their regular activities. However, with a rapidly aging population and the rise of sedentary lifestyles, diseases are on the rise, driving the demand for medicines.
The global biotechnology market is estimated to grow at a CAGR of 15.5% to reach $1.35 trillion by 2030. Investors’ interest in biotech stocks is evident from the iShares Biotechnology ETF’s (IBB) 9.1% returns over the past three months.
