The biotech industry is poised for significant growth due to the growing popularity of personalized medicines and the rising use of AI in the biotech market. Given the industry’s steady growth prospects, investors could consider biotech stocks Shionogi & Co., Ltd. (SGIOY), Alkermes plc (ALKS), and Incyte Corporation (INCY) for March profits.
The growing demand for biotechnology in agricultural applications like tissue culturing, molecular breeding, and micro-propagation is projected to boost the biotech market growth. Besides, the surge in popularity of genetically modified crops, seeds, and herbicide-tolerant crops is projected to contribute further to the expansion of the market. The global biotechnology market is expected to grow at a CAGR of 13.4% until 2032.
