FIT Biotech’s market outlook
The size of the world’s pharmaceutical market was estimated at approximately 989 billion US dollars in 2013, with year-on-year growth of some 4–7 per cent. By 2018, the market is expected to exceed 1,300 billion US dollars.
Drugs can be divided into two categories: chemical and biological. Chemical drugs most often have small molecules and they are manufactured using chemical reactions. Biological drugs, on the other hand, are mainly large molecules and they are manufactured by biotechnological methods. The majority of new drugs and drugs under development are biological. Biological drugs are expected to provide better targeted, more efficient and safer treatments than chemical drugs.