North America Biotechnology Market Size & Outlook
North America biotechnology market, 2018-2030 (US$M)
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North America biotechnology market highlights
- The North America biotechnology market generated a revenue of USD 642,770.9 million in 2023.
- The market is expected to grow at a CAGR of 12.4% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 642,770.9 million |
| Market revenue in 2030 | USD 1,456,435.5 million |
| Growth rate | 12.4% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, North America region accounted for 41.4% of the global biotechnology market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 916,391.1 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America biotechnology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 44.23% in 2023. Horizon Databook has segmented the North America biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
The North America biotechnology market is expected to grow at a lucrative rate owing to increase in adoption of genomic medicines, biopharmaceuticals, and novel technologies in the U.S. and Canada for diagnosis and treatment of clinical disorders.
Easy availability of government funding for research are anticipated to boost the market in this region. For instance, in July 2020, the NIH invested USD 248.7 million in the development of new technologies to address challenges associated with COVID-19 testing.
Seven biomedical diagnostic companies were awarded contracts by the NIH’s Rapid Acceleration of Diagnostics (RADx) initiative to support the development of COVID-19 PoC and lab-based tests and increase their availability.
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Our clientele includes a mix of biotechnology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America biotechnology market , including forecasts for subscribers. This continent databook contains high-level insights into North America biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America biotechnology market size, by country, 2018-2030 (US$M)
North America Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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