GlobalData’s recent survey The State of the Biopharmaceutical Industry 2024 revealed that 44% of healthcare industry professionals surveyed globally are optimistic or very optimistic on the recovery of biotech funding in the next 12 months. This optimism comes after the downturn in private biotech venture financing seen in 2022 and 2023. During 2023, funding decreased by 43.2% compared to 2022 and by 52.3% compared to 2021, attributed to macroeconomic pressures causing investors to be more cautious and prioritise existing portfolios.
Biotech funding optimism rises as 44% predict recovery in 2024
Venture financing for US-headquartered companies with innovator drugs peaked in 2021, by 104% to $20.7bn, which in turn saw many early-stage biotechs going public that year with inflated valuations.
