TLDR:
- Life sciences sector is growing, capturing more venture capital and employment.
- Venture capital is shifting towards life sciences, with significant investments in the first three months of 2024.
Will the life sciences dethrone software as the king of technology? The sector is capturing more venture capital, employing more people and reshaping innovation economies across the US. The life sciences concern biology that makes money and its boosters claim their businesses can save lives. The industry’s work is place-based with expensive equipment and sterile requirements.
Life sciences sector has been gaining traction over the years, with more investments being made in pharma and biotech firms compared to software. Life sciences firms raised almost 60% as much as software companies in the first quarter of 2024. The industry is heavily regulated, with FDA approval being a badge of honor.
Engagement with technology is shaping the life sciences industry, with terms like biotechnology, medtech, and healthtech being used to describe different tools and techniques. Technology is seen as commercialized science and is expected to have a significant impact on the future of the life sciences sector.
