North America Biologics Market

North America Biologics Market Size & Growth (2023 to 2028):

The Size of the North America Biologics Market will be valued at USD 106.45 billion in 2023. It is predicted to reach USD 152.90 billion by 2028, growing at a CAGR of 7.51% from 2023 to 2028.

Government initiatives, actions to create novel techniques, Y-O-Y rise in the incidence of chronic diseases, rising healthcare costs, and rising prevalence to encourage outstanding treatment processes are all driving the global biologics market forward.

The market's growth rate is predicted to be aided by expanding acceptance of new medicines, rising demand for biologic medications, and increasing patent expirations. Biologics offers a wide range of uses in targeted therapies and can aid in treating various medical diseases when other treatments are unavailable. In addition, gene-based and cellular biologics are essential components of biomedical research, which will boost the market's growth pace.

Furthermore, the expanding global size of pharmaceutical firms and government attempts to raise public knowledge about the availability of various treatment processes for targeted disorders significantly impact the market's growth rate. Additionally, the efficacy of oral drugs for disorders including Crohn's and rheumatoid arthritis has grown, encouraging patients to try new treatments. As a result, the biologics market's growth rate will ultimately accelerate. The market demand is also fueled by the growing elderly population and the growing need to reduce the cost of treatment operations. In addition, people's preference for tablets over needles is accelerating market growth. Finally, the market's growth rate is also being boosted by technological improvements. 

Introducing cutting-edge medicines with cutting-edge technology is expected to open up new prospects for the industry. Shortly, a decrease in the need for small molecule medication R&D activities is predicted to boost the demand for biologics.

Long-term usage of biologics also causes issues, including blood pressure abnormalities, gastrointestinal troubles, respiratory problems, and other steadily reducing market demand. 

The manufacturing process for biologics medications is quite complicated, which continues to be a significant stumbling block for the biologics market's growth. In addition, the biologics market's growth pace is slowing due to lower turnover for clinical studies.

This research report on the North America Biologics Market has been segmented & sub-segmented into the following categories:

By Source:  

• Microbial

• Mammalian

• Others

By Product:

• Monoclonal Antibodies

• Vaccines

• Recombinant Proteins

• Antisense, RNAi, & Molecular Therapy

• Others

By Biologics Manufacturing:

• Outsourced

• In-house

By Disease Category:

• Oncology

• Infectious Diseases

• Immunological Disorders

• Cardiovascular Disorders

• Hematological Disorders

• Others

By Country:

• US

• Canada

• Rest of North America

Geographically, the North American biologics industry has led the worldwide biologics market in revenue generation. In healthcare biotechnology, North America accounts for 80% of global research. In addition, the revenue share of this region has grown due to the growing demand for illness treatment items.

As a result, North America now dominates the worldwide biologics market, with a revenue share of over 40% expected by the end of 2024. Intensive R&D efforts, novel medication formulations, and a significant number of clinical studies focusing on big-molecule drug development contribute to the market's growth in this area. Furthermore, the prospect of favorable returns due to biologics' premium price will encourage investment in the coming years. 

During the anticipated time, the U.S biologics market will lead the North American market. With the COVID-19 epidemic spreading, firms in the United States are rushing to create vaccinations. A Phase 1 clinical study to investigate an experimental immunization to protect against COVID-19 commenced in March 2020 at Seattle's Kaiser Permanente Washington Health Research Institute (KPWHRI). Scientists from the National Institute of Allergy and Infectious Diseases (NIAID) and Moderna Inc. work on the vaccine.

KEY MARKET PLAYERS

A few notable companies in the North American biologics market analyzed in this report are Johnson & Johnson (J&J), F Hoffmann-La Roche, Bristol-Myers Squibb, GlaxoSmithKline, AbbVie, Amgen, Sanofi, Eli Lilly and Company, Merck & Co., and Pfizer Inc.