Why biopesticides did not develop to a significant business?

In agriculture and public hygiene bio-control agents -also called biologicals or biopesticides- are used as an alternative to synthetic chemicals to prevent or reduce damages made by insects or pathogens to plants, animals, and human beings. Control is achieved either by eradication of the pest, inhibition of pest development, or by providing the host with defence mechanisms against it.
While the chemical pesticide business has grown up to a $45 billion level, the market for bio-control agents is stagnating at a low [unknown] level.
In this paper factors affecting the development of the biopesticide business are analysed and some conclusions are drawn.

Here is a one page summary

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