SOUTH SAN FRANCISCO, Calif. & LOS ANGELES & SAN DIEGO (BUSINESS WIRE) Biocom California, the association representing the California life science industry, today released a new report showing California’s life science industry provides more than 400,000 jobs in the state and generates $376 billion in total economi.
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Biotech jobs are one of the most promising career paths for people who are into life sciences and those who dream of creating change in the world through developing breakthrough medicines and therapeutics.
Biotech has also gained ground in the industry due to the current global health crisis. Amidst the coronavirus disease (COVID-19) pandemic, biotech firms were in the front of developing vaccines and drugs against chronic and emerging diseases.
Experts project that the global biotechnology market value will reach $727.1 billion by 2025. Across the globe, venture capital firms invested about $16.8 billion in private drug development in 2018 and are expected to increase as the world grapples with a pandemic. Also, the biotech employment rate will grow by 5 percent from 2019 to 2029.