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The biotech industry thrived amid the pandemic due to substantial capital inflows to develop an effective vaccine to contain the spread of the deadly virus. The companies that succeeded in developing a vaccine and got the approval for commercialization garnered significant returns.
The industry is expected to remain in the limelight as the COVID-19 continues to be a matter of concern. Also, the industry’s focus on developing personalized medicines and immunotherapy is expected to be a major trend shaping the industry’s growth in the near term. The U.S. biotechnology market is estimated to grow at a CAGR of over 9.2% through 2027. Being major market players, both MRNA and BNTX are expected to benefit from the industry tailwinds.
