Following a record-breaking year for IPOs and other going-public transactions, the beginning of 2022 has presented a challenging environment. That’s largely a result of volatile market conditions due to the ongoing conflict in Ukraine, rising interest rates and the depressed performance of newly public companies that began in fall 2021.

Despite these headwinds, executives and investors in the technology and life sciences sectors are cautiously optimistic about a quick rebound—or at least one within a few years. This sentiment was based on responses to a January 2022 survey of 300 technology and life sciences decision-makers (C-suites and other senior leaders) and investors who focus on either life sciences or technology (representatives from investment banks, private equity firms, hedge funds and venture capital firms). More than 70% of survey respondents said IPO activity will bounce back in 2022 or in the next two to five years.