Biotech funding set for recovery in 2024

13 March 2024

The biopharmaceutical industry is witnessing a shift in investor sentiment. Despite facing challenges such as declining venture financing and macroeconomic pressures, there exists optimism about a recovery in biotech funding.

Healthcare professionals globally express cautious optimism, emphasizing the importance of alternative funding avenues and industry partnerships. This dynamic landscape sets the stage for potential growth and innovation in the biotech sector, says pharma analytics company GlobalData.

GlobalData’s Thematic Intelligence report, “ The State of the Biopharmaceutical Industry 2024,” reveals that 44% of healthcare professionals surveyed globally are optimistic or very optimistic about biotech funding recovery in the next 12 months. This optimism follows a downturn in private biotech venture financing, where funding in 2023 declined by 43.2% and 52.3% compared to 2022 and 2021 respectively.

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