Report : North America Biopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type (Monoclonal Antibodies, Recombinant Vaccines, Conventional Vaccines, Recombinant Growth Factors, Purified Proteins, Recombinant Proteins, Recombinant Hormones, Recombinant Enzymes, Cell & Gene Therapies, Cytokines/Interferon/Interleukins, and Others) and Application (Oncology, Inflammatory & Infectious Disease, Autoimmune Disorders, Metabolic Disorders, Hormonal Disorders & Growth Failure, Cardiovascular Diseases, Neurological Diseases, and Others)
At 13.1% CAGR, the North America Biopharmaceuticals Market is projected to be worth US$ 315.74 billion by 2028, says Business Market Insights
According to Business Market Insights research, the North America biopharmaceuticals market was valued at US$ 151.22 billion in 2022 and is expected to reach US$ 315.74 billion by 2028, registering a CAGR of 13.1% from 2022 to 2028. Rising application in cancer therapeutics and potential to treat rare diseases are the critical factors attributed to the North America biopharmaceuticals market expansion.
According to the National Cancer Institute report, cancer is among the leading cause of death globally. For instance, in 2018, there were 18.1 million new cancer cases and 9.5 million cancer-related deaths worldwide. By 2040, the new cancer cases are expected to rise to 29.5 million, with cancer-related deaths to 16.4 million. The US Department of Health and Human Services report states that the rate of new lung and bronchus cancer cases is 52.0 per 100,000 men and women annually. The estimated number of new lung and bronchus cancer cases was 236,740 in 2022, i.e., 12.3% of all new cancer cases. Biopharmaceuticals present new hopes for gaining control over such a high incidence of cancer. Based on the understanding of underlying biological mechanisms and the role of patients' immune systems in fighting cancer, biopharmaceuticals researchers are producing new medicines responsible for treating cancers. These range from CAR-T cell therapy to immune checkpoint inhibitors and personalized medicines, targeting the genetic flaws translating into a specific cancer condition. A report by the Pharmaceutical Research and Manufacturers of America (PhRMA) reveals that six CAR-T therapies have been approved by the US Food and Drug Administration (FDA) for treating a wide range of cancer types, including pediatric cancer cases. Additionally, the PhRMA report reveals that other therapeutic approaches, such as mRNA with the potential to transform a wide range of cancers, have gained approvals.For instance, in February 2023, mRNA-4157/V940, an investigational personalized mRNA cancer vaccine by Moderna, Inc. and Merck was recognized as a breakthrough therapy, in combination with KEYTRUDA, by the USFDA. Further, more than 1,300 medicines and vaccines for treating various cancers are currently in clinical trials or are awaiting FDA approval. These involve immunotherapies (monoclonal antibodies and CAR-T), gene editing for target cancer, oncolytic viral therapies, and antibody–drug conjugates (ADCs) targeting specific cancer cells without harming normal cells. Thus, the rising incidence of cancers globally results in the demand for safe, effective, and efficient diagnostic systems, such as biopharmaceuticals.
On the contrary, high cost of manufacturing infrastructure hurdles the growth of North America biopharmaceuticals market.
Based on product type, the North America biopharmaceuticals market is segmented into monoclonal antibodies, recombinant vaccines, conventional vaccines, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, recombinant enzymes, cell & gene therapies, cytokines/interferon/interleukins, and others. The monoclonal antibodies segment held 47.0% share of North America biopharmaceuticals market in 2022, amassing US$ 71.14 billion. It is projected to garner US$ 154.49 billion by 2028 to expand at 13.8% CAGR during 2022–2028. The recombinant vaccines segment is further segmented into cancer vaccine, malaria vaccine, ebola vaccine, hepatitis-b vaccine, tetanus vaccine, diphtheria vaccine, cholera vaccine, and others. The conventional vaccines segment is further segmented into polio vaccine, pox vaccine, and others. The recombinant growth Factors segment is further segmented into erythropoietin and granulocyte colony stimulating factor. The purified proteins segment is further segmented into leukemia inhibitory factor (LIF), P53 protein, P38 protein, and others. The recombinant proteins segment is further segmented into serum albumin, amyloid protein, defensin, and transferrin. The recombinant hormones segment is further segmented into recombinant human growth hormones, recombinant insulin, and other recombinant hormones. The recombinant enzymes segment is further segmented into enterokinase, cyclase, caspase, and cathepsin. The cell & gene therapies segment is further segmented into allogenic products, autologous products, and acellular products.
Based on application, the North America biopharmaceuticals market is segmented into oncology, inflammatory & infectious disease, autoimmune disorders, metabolic disorders, hormonal disorders & growth failure, cardiovascular diseases, neurological diseases, and others. The oncology segment held 30.3% share of North America biopharmaceuticals market in 2022, amassing US$ 45.89 billion. It is projected to garner US$ 93.47 billion by 2028 to expand at 12.6% CAGR during 2022–2028.
Based on country, the North America biopharmaceuticals market is segmented into the U.S., Canada, Mexico. Our regional analysis states that the U.S. captured 84.8% share of North America biopharmaceuticals market in 2022. It was assessed at US$ 128.19 billion in 2022 and is likely to hit US$ 265.57 billion by 2028, exhibiting a CAGR of 12.9% during the forecast period.
Key players profiles in the North America biopharmaceuticals market report AbbVie Inc; AGC Biologics AS; Amgen Inc; Boehringer Ingelheim International GmbH; Bristol-Myers Squibb Co; Eli Lilly and Co; Johnson & Johnson; Lonza Group AG; Thermo Fisher Scientific Inc; and WuXi Biologics Inc, among others.
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