The size of the North America Autoimmune Monoclonal Antibodies Market is expected to reach USD 14771.27 million by 2027 from USD 9837.16 million in 2022, growing at a CAGR of 8.47% during the forecast period 2022 to 2027.
The Autoimmune monoclonal antibodies market in North America is expected to be driven by the increasing prevalence of autoimmune disorders. Also, the rising prevalence of chronic diseases such as cancer is projected to propel market growth. In addition, other factors such as the Y-O-Y growing population and associated lifestyles disorders further contribute to the market growth. Also, the increasing severe arthritis and multiple sclerosis cases significantly increased demand for the autoimmune monoclonal antibodies market during the forecast period.
In addition, technological advancements and innovative genetic platforms, including next-generation sequencing, are most likely to boost the market growth. The increasing number of research and development activities is projected to offer significant growth opportunities to the market growth. Over the years, the market gained its momentum owing to the increased family history of immune diseases. Growing investments and funding by the government for infrastructure development and research and development activities are expected to boost the market growth.
The strategies by the key market participants such as collaborations, mergers, and acquisitions help the regional market expansion and gain competitively advanced over the market players in the region.
However, the stringent government regulations are majorly hindering market growth. In addition, the limited access to monoclonal antibody therapeutics owing to its high cost impedes market growth.
This research report on the North America autoimmune monoclonal antibodies market has been segmented and sub-segmented into the following categories
Geographically, the North American regional market held the majority share of the global Autoimmune monoclonal antibodies market in 2020, and it is anticipated to register a significant share during the forecast period. Increasing federal support for the treatment of the cancer population, availability of advanced healthcare infrastructure, and favorable government policies are driving the market growth. Also, the market has benefited from an increased emphasis on genomics research and innovation and the introduction of technologically novel genetic platforms such as next-generation sequencing. Emerging countries such as U.S. and Canada are expanding the regional market growth with a significant market share.
The United States recorded the largest share in North America in 2020. The increasing number of product approvals, availability of pharmaceutical companies, and high research and development activities are fuelling the market growth. In addition, the rising prevalence of autoimmune disorders, growing awareness, and increased healthcare spending is fuelling the market growth.
The Canadian market is projected to grow considerably during the forecast period. Supportive government policies, advancement, and the advent of the innovative genetic platform, surging R&D activities are boosting the market growth.
KEY MARKET PLAYERS:
Companies playing a dominating role in the North American Autoimmune Monoclonal Antibodies market include GlaxoSmithKline plc (U.K.), AstraZeneca plc (U.K.), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb (U.S.), Johnson & Johnson (U.S.), Innovent Biologics, Inc. (China), Takeda Pharmaceutical Company Ltd. (Japan), Amgen Inc. (U.S.), Biogen Inc.(U.S.), and UCB Company (Belgium).
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