The biotech industry is growing with government support, benefitting from the standardization of clinical research and improving the approval process. Moreover, the growing emphasis on food safety and quality, including the rising awareness and adoption of personalized medicines, is driving substantial expansion. Against this backdrop, investors might consider quality biotech stocks Genfit S.A. (GNFT), Equillium, Inc. (EQ), and Innoviva, Inc. (INVA) to boost portfolios in 2024.
The increasing adoption of organic food products necessitates the use of biotechnology in the agriculture sector, which is expected to drive the biotechnology market revenue growth. Also, the market is propelled by significant government support in the form of measures targeted at modernizing the regulatory framework, improving approval processes and reimbursement policies, and standardizing clinical research.
