How is EY forecasting biotech growth and M&A trends through 2026?

EY’s 36th Biotech Beyond Borders report projects biotech revenues will grow at least 12% in 2026, marking a third consecutive year of expansion. The firm cites nearly $100 billion in 2025 M&A capital plus $36 billion in early 2026, reflecting accelerating deal flow as consolidation concentrates funding in later-stage, platform-validated companies.