EY’s 2026 Biotech Beyond Borders Report

EY released its 36th annual Biotech Beyond Borders Report, which draws on EY’s decades of experience tracking and analyzing US and European biotechnology companies and examines how the biotech industry is balancing continued growth and innovation against ongoing financing, regulatory and geopolitical pressures.

The 2026 report finds that, despite macroeconomic uncertainty, financing pressures, a shifting regulatory landscape and looming patent cliffs, biotech saw its third consecutive year of growth in 2025, with revenue up over 12% - signaling underlying resilience and the industry’s ability to navigate emerging challenges.