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Furthermore, given the ageing population in the United States and other Western countries–and with that an implied need for more healthcare solutions in the future–the biotechnology industry is poised for solid growth in coming years. Indeed, the global biotechnology market is expected to grow at a 15.5% CAGR over the next seven years to hit $850.5 billion by 2027.
Wall Street analysts believe budding biotech stocks Bionano Genomics, Inc. (BNGO), Cerus Corporation (CERS), Agenus Inc . (AGEN), and VBI Vaccines Inc. (NASDAQ:VBIV) have the potential to rally by more than 60% in the next 12 months.
