The BioWorld Infectious Disease Index (BIDI) faced challenges throughout the year but narrowed its losses, ending down 6.28% after hitting a low of -25.12% in late April. By October, the index was down 12.07% and had declined 8.86% for the year as of Nov. 22. However, in January, the BIDI rebounded slightly, gaining 1.85%.

The U.S. FDA approved 12 drugs in January, falling below the 2024 monthly average of 19. Only three new molecular entities received approval, trailing the yearly average of just over four per month.

The BioWorld Drug Developers Index extended its decline through year-end, closing 2024 down 15.25%. After dropping 11.3% by October, the index briefly rebounded, narrowing losses to 5.36% in November, before slipping again.

Med-tech M&As saw a strong start in January, totaling $4.51 billion, a significant jump from $18 million in December 2024 but lower than November’s $12.68 billion. Dealmaking reached $57.94 billion in 2024, averaging about $4.8 billion per month.

Biopharma deal activity in the first month of the year saw the largest January raise thus far, with $28.63 billion in collective funds. While down slightly month over month, the value was comparable to December 2024’s $29.02 billion and November 2024’s $29.34 billion.

The BioWorld Cancer Index (BCI) experienced a steep decline in 2024, closing the year down 17.32%. After peaking in late February with an 11.16% gain, the index steadily trended downward, with only brief recoveries that failed to push it back into positive territory. This marked a sharp contrast to 2023, when the BCI soared 76.26% by year-end. In comparison, 2022 saw the index drop by 41.98%, while 2021 closed with a decline of 36.34%.

Biopharma companies secured $5.91 billion across 93 transactions in January 2025, a continuing upward swing from $4.69 billion in December and $3.6 billion in November 2024.

Med-tech companies secured $2.76 billion across financings 56 transactions in January 2025, up from $1.72 billion in December and $919.99 million in November.

Med-tech companies raised a total of $25.37 billion in financings in 2024, up from $17.68 billion in 2023, though still significantly lower than previous years. The highest year for med-tech financings on record remains 2020, when $59.7 billion was raised.