4 November 2021
End of June 2021, McKinsey published an overview regarding the update of their comprehensive 2019 study on biotech in Europe.
Both reports were presented at Bio€quity, an annual investor conference held in May and organized by data provider BioCentury together with partnering specialist EBD Group. The latest report, titled "Innovation hotspots to drive the next act in Europe", can be found here.
According to McKinsey, the European biotech industry remains on a growth path driven by innovations such as
- cell- and gene therapies,
- antisense,
- messenger-RNA (mRNA) and
- chimeric antigen receptor-T-cell-therapy (CAR-T)
is being fueled, and more new technologies and techniques are on the horizon.
Source: LinkedIn (Dr. Alexandra Zemp, Partnerin at McKinsey Zurich)
The industry has made significant progress in recent years in improving access to capital and addressing talent gaps. However, its future growth will depend on its ability to continue to drive innovation and keep up with the pace of change in other regions.
The number of companies with first-round funding after 2018 increased by 32%. Of the nearly 1,400 biotech companies identified, 27% focus on developments in oncology and 12% on central nervous system diseases.
