Here Are the Top Five Biotech Trends for 2023

The biotech industry has been shaking up the pharmaceutical space for the last several years, and that disruption is only growing. Globally, the biotech market was worth about $1 trillion as of 2021, and it's expected to see a compound annual growth rate of about 14% over the next eight years.

The government has supported many biotech initiatives aimed at modernizing the regulatory framework, improving the processes for treatment approvals and reimbursements, and standardizing clinical studies. As a result, it's easy to see why biotech is growing so rapidly, so investors would do well to track the most important biotech trends of the coming years.