The worldwide biotech market was estimated to be worth $1.02 trillion in 2021, and from 2022 to 2030, it is anticipated to increase at a compound annual growth rate of 13.9%. In 2021, North America held a 44.20% share of the worldwide biotechnology market, making it the biggest region. The size of the global biotech market was estimated to be $1.02 trillion in 2021, and it is projected to increase by a compound annual growth rate of 13.9% between 2022 and 2030. In 2021, North America held the majority of the global biotechnology market with a 44.20% share. According to Michael Yee, managing director and biotech analyst at Jefferies, biotech equities are immune to recessions and inflation. The breakthrough work carried out by healthcare behemoths like Johnson & Johnson (JNJ) and Merck has drawn investors to the biotech sector in recent years (MRK).
Insider Monkey highlights the 10 best biotech stocks under $10. Minerva Neurosciences, Inc. is a clinical-stage biotech company that designs, develops, and commercializes therapies for the treatment of central nervous system diseases. The company has submitted a New Drug Application to the FDA for MIN-101, the company’s novel treatment for patients with schizophrenia. A clinical-stage biotech business called Minerva Neurosciences, Inc. creates, develops, and sells treatments for the treatment of disorders of the central nervous system. The business has submitted a New Drug Application to the FDA for its cutting-edge schizophrenia treatment, MIN-101. A young biotech business called Ovid Therapeutics Inc. develops treatments for neurological disorders, epilepsy, and seizure-related illnesses. The business declared in August that it would soon submit a clinical trial application for OV329 to the FDA. The greatest biotech stocks right now to buy are those of AbCellera Biologics Inc. The organization has started building a new 380,000-square-foot facility in Vancouver, Canada. The stock is now trading at a PE multiple of 15x as of September 23. Finally, a clinical-stage biopharmaceutical firm called 89bio, Inc. is dedicated to the study and creation of treatments for disorders of the liver and the cardio-metabolic system. As of June 30, the business had $139.3 million in cash, cash equivalents, and securities. For more details, click the 10 Best Biotech Stocks Under $10.