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Christine Kao/STAT

If the last few months are any guide, there will be no shortage of surprises and challenges for the biotech industry in the new year.

Donald Trump will begin his second term, possibly bringing along controversial figures to lead health agencies. And biotech startups, which have already endured a prolonged economic downturn, are set to face further financial strain as the Federal Reserve projects higher inflation and fewer interest rate cuts next year.

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Through it all, though, some consistent trends may still persist, like inventors’ interest to look outside the U.S. for innovative new molecules and the growth of a particular class of drugs that can help with conditions ranging from obesity to potentially neurodegenerative disease. Here are three major themes we’re watching out for in 2025.

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