North America Biosimilars Market

The North America biosimilars market is expected to grow from US$ 7,115.74 million in 2022 to US$ 47,746.80 million by 2028. It is estimated to grow at a CAGR of 37.3% from 2022 to 2028.

Increasing Prevalence of Chronic Diseases is Driving North America Biosimilars Market

The increasing aging population, changing social behavior, and the rising adoption of a sedentary lifestyle by people with accelerating urbanization boost the prevalence of obesity and various chronic diseases, such as diabetes. Also, twin studies have long established that genes can cause chronic conditions such as cardiovascular disease (CVDs), diabetes, obesity, Alzheimer's disease (AD), and depression. According to the National Council on Aging, Inc., 80% of adults 65 and more have at least one chronic condition, while 68% have two or more. According to the Centers for Disease Control and Prevention (CDC), in 2020, almost 6 in 10 people in the US suffered from at least one chronic disease, and 4 in 10 people had two or more chronic conditions.

Cardiovascular diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction, caused due to hectic lifestyles, are significant causes of mortality across the world. As per the data provided by the WHO, CVDs are the number one cause of death worldwide, recording estimated 17.9 million deaths each year. Diabetes is a life-threatening chronic disease with no functional cure. Diabetes of all types can lead to various complications in different body parts and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are among the major complications associated with diabetes. According to the International Diabetes Federation (IDF), diabetic cases in North America are expected to reach 62 million by 2045 from 46 million in 2017. Furthermore, the data reported that 425 million people were suffering from diabetes in 2017, and the count is expected to reach 629 million by 2045 across the world. The disease prevalence is likely to increase by about 35% during the forecast period.

North America Biosimilars Market Overview

According to NIH Autoimmune Diseases Coordinating Committee, in 2019, more than 24 million Americans suffer from autoimmune diseases. Eight million people have auto-antibodies, blood molecules that indicate a person's risk of developing autoimmune diseases. For unknown reasons, autoimmune diseases are affecting more people. According to the Clinical Research Branch at the National Institute of Environmental Health Sciences (NIEHS), in 2020, there is a significant increase in the prevalence of antinuclear antibodies (ANA), the most common biomarker of autoimmunity in the US. The study is the first to evaluate ANA changes in a representative sampling of the US population over time. It includes males, non-Hispanic whites, adults over 50, and adolescents. In the US, biosimilars are used to treat patients with cancers, kidney diseases, diabetes, and other autoimmune diseases such as rheumatoid arthritis and Crohn's disease. According to Cardinal Health, a total of 33 biosimilars have been approved by the FDA in the US and 21 are commercially available. Of the 21 biosimilars on the market, 17 are used for treatments associated with cancers, three are used to treat autoimmune conditions and one is used to treat diabetes.

North America Biosimilars Market Revenue and Forecast to 2028 (US$ Million)

North America Biosimilars Strategic Insights

Strategic insights for the North America Biosimilars provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Biosimilars Report Scope

North America Biosimilars Regional Insights

The geographic scope of the North America Biosimilars refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Biosimilars Market Segmentation

The North America biosimilars market is segmented into disease indication, drug class, route of administration, end user, and country.

Based on disease indication, the biosimilars market is segmented into cancer, diabetes, autoimmune diseases, and other disease indications. The cancer segment held the largest market share in 2022.  

The biosimilars market, based on drug class, is segmented into granulocyte colony-stimulating stimulating factors, human growth hormone, insulin, TNF blockers & monoclonal antibodies, erythropoietin-stimulating stimulating agents, and others. The granulocyte colony-stimulating factors segment accounted for the largest share of the market in 2022.

Based on route of administration, the biosimilar market is segmented into intravenous, subcutaneous, and others. The intravenous segment accounted for the largest share of the market in 2022. 

The biosimilars market, based on end user, is segmented into hospitals, specialty clinics, homecare, and others. The hospitals segment accounted for the largest share of the market in 2022.

Based on country, the North America biosimilars market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.

Amgen Inc; Celltrion Inc; Sanofi SA; Biocon Ltd; Coherus BioSciences Inc; Eli Lilly and Co; Sandoz AG; Teva Pharmaceutical Industries Ltd; Pfizer Inc; and Dr. Reddy's Laboratories Ltd are the leading companies operating in the North America biosimilars market.