France Biotech annual report “Panorama Health Tech 2023” take away messages
Late February, France Biotech annual report “Panorama Health Tech 2023” was published. Here is a brief biotech focused summary we would like to share with you:
In 2023, the French HealthTech sector established itself as a key innovation ecosystem, representing more than 2,600 companies and 60,000 jobs, a 33% increase in turnover and a 19% increase in employment. It is rapidly expanding in the digital health field and is the European leader in rare disease treatment. In a tense economic context, the sector attracted 1.8 billion euros in funding but faces financing challenges, especially for emerging startups. Future efforts will focus on financing issues, societal, and environmental challenges.
Regarding biotechnology companies, in 2023 there were 820 biotech firms, each developing an average of 3 products (25% of the products developed in biotech were related to oncology, followed by infectious diseases and central nervous system). 59% of the products were in early development phases, 31% in clinical phases, and 10% were marketed. The average amount invested per company was 5.1 million euros in 2022 (a 16% increase compared to 2021). Finally, in 2023, 50% of biotech companies filed patent applications.
Biotherapy Partners is a consulting firm providing support for the drug development of Biologicals like mAbs or gene and cell therapies.
