North American biotechnology market is estimated to grow significantly at a CAGR of 7.3% during the forecast period. The North American biotechnology industry was valued at $206 billion in 2019 and anticpated to grow significantly during the forecast period. This growth is backed by the well-developed healthcare infrastructure and the rising investment in the development of advanced solutions for the biotechnology industry. Moreover, increasing government support for drug discovery and development with growing usage of biotechnology in drug discovery & development of regenerative medicines among pharmaceutical companies is further augmenting the growth of biotechnology market in the region.
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North American biotechnology market is classified on the basis of type. Based on type, the market is segmented into healthcare, crop production and agriculture, industrial, natural resources & environment, and others. North America's biotechnology market is segmented on the basis of countries, the US, and Canada. The US held the largest market value, around 85%, in the North American biotechnology market due to ongoing research activities related to different types of medical devices to improve CVD treatment and the presence of some of the key market players, such as Amgen Inc.
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Furthermore, the increasing roadmap studies in synthetic biology by the US is promoting R&D in synthetic biology. For instance, the latest roadmap, published by the US Engineering Biology Research Consortium (EBRC) in 2019, is a consensus of more than 80 scientists and engineers from a range of disciplines, representing more than 30 universities across the globe.
The companies which are contributing to the growth of the North American biotechnology market include Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market.
Market Segmentation
North American Biotechnology Market by Type
• Healthcare
• Crop Production and Agriculture
• Industrial
• Natural Resources & Environment
• Others (Bioinformatics)
Regional Analysis
• United States
• Canada
Company Profiles
• Abbott Laboratories
• AbbVie Inc.
• ADOCIA
• Alere Inc.
• Alkermes PLC
• Amgen Inc.
• AstraZeneca PLC
• BIOCAD
• Biogen Inc.
• Bristol-Myers Squibb Co.
• CSL Ltd.
• F. Hoffmann La-Roche Ltd.
• Galapagos NV
• Johnson & Johnson Services Inc.
• Merck & Co., Inc.
• Miltenyi Biotec B.V. & Co. KG
• Novartis AG
• Novo Nordisk A/S
• Pfizer Inc.
• Regeneron Pharmaceuticals, Inc.
• Sanofi SA
• Thermo Fisher Scientific Inc.

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