Healthcare Markets Year in Review 2023 and 2024 Outlook

In our latest market report, Back Bay shared a snapshot of 2023 activity across equity markets, M&A, licensing and venture financing.

  • The Federal Reserve raised interest rates 11 times since March 2022 in an effort to fight inflation, resulting in revaluations across many asset classes and major capital allocation and money flow shifts

  • With a year-end rally, healthcare equities finished flat for 2023, with biopharma indices such as the NBI finishing up only 4.7%; a vast underperformance compared to the NASDAQ (up 44.5%) and the S&P 500 (up 24.7%)

  • The IPO window remained largely closed throughout 2023, despite a brief opening in Q3, as only 30 healthcare companies in the US and EU were listed, which is down from the previous low of 44 IPOs in 2022

About DNB//Back Bay

The DNB//Back Bay Healthcare Partnership is a unique collaboration between DNB Bank and Back Bay Life Science Advisors to provide US, Nordic, and global healthcare companies with strategic and financial guidance and execution across every stage of development.

Learn more and subscribe to our weekly healthcare market updates on our Healthcare Partnership page.

 
Back Bay Life Science Advisors