Life Sciences Funding in View: 2025 Outlook

2024 Global IPO Activity IPO Activity by Region

APAC Europe North America

$40

$35

$30

$14.5

$25

$20

$16.8

$5.8

$Billions

$15

$14.3

$0.6 $1.7

$6.2

$10

$9.2 $0.1 $1.4

$1.9

$8.7

$4.4

$8.7

$6.4

$6.0

$3.7

$5

$5.0

$4.1 $0.4

$1.7 $1.0 $2.6

$2.8

$2.5 $0.1

$2.0

$1.1 $1.9

$2.7

$2.4

$0

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Source: PitchBook Data, Inc.; *Data has not been reviewed by PitchBook analysts

6 / CUSHMAN & WAKEFIELD

LIFE SCIENCES JANUARY 2025