Biopharmaceuticals and biomedicine are concerned with the study and development of medications (biologics) that use biological molecules in some or all of their components. The Biopharmaceutical and Biomedicine Market saw tremendous growth in 2017. Biomedicines are gaining traction in the market as drug corporations and other pharmaceutical companies devote more resources to biomedical research and development. Thus, the industry's growth is fueled by constant R&D, approval, and a large pipeline of biomedicine and biopharmaceutical products. In 2017, the US Food and Drug Administration authorized 56 new drugs, the most in the last two decades.