Fierce Biotech June 5, 2023
The COVID-19 pandemic highlighted the global burden of mental health disorders. In the US, rates of anxiety, depression, and substance use disorder have all risen following the pandemic. The need to prioritize mental health is more obvious than ever, and large and small companies have responded by accelerating innovation in this area.
The growing field of biotechnology is one of the most important driving forces in developing novel treatments for mental health disorders. While breakthroughs in the biotechnology industry over the past two decades have rarely focussed on mental illness, times are changing. The biotechnology market, which was valued at $1.37 trillion in 2022 and is expected to grow at a CAGR of 13.96% from 2023 until 2030, is poised...
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