The biotech sector is not only playing an important role in fighting COVID-19 but also developing treatments for other serious illnesses. And given the industry’s solid growth prospects, we think it could be wise to bet on quality biotech stocks QIAGEN (QGEN), Exelixis (NASDAQ:), and Vanda Pharmaceuticals (NASDAQ:). Continue reading. The COVID-19 Pandemic has driven the biotech sector to accelerate its growth and to provide vaccines, therapies, and other treatments to combat the pandemic. Investor interest is also supported by the spread of highly contagious COVID-19 Delta strain.

Companies’ increasing focus on this space and on finding cures for other incurable diseases should help the industry keep growing. Vision Research Reports projects that between 2021-2030, the global market for biotechnology will experience a 16.8% annual growth rate. Regarding the biotech market’s performance, Miller Tabak’s Matt Maley recently told CNBC, “I think this is a great entry point for long-term investors and even short-term ones who like to be a little bit more on the active trading side of things.”

Though most biotech stocks are high-risk-high-reward investment propositions, we think it could be wise to bet now on fundamentally sound stocks QIAGEN N.V. (QGEN), Exelixis, Inc. (EXEL), and Vanda Pharmaceuticals Inc. (VNDA) to cash in on the industry’s growth.

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