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.

Driving Factors: Chronic Diseases and the North America Biosimilars Market

The North America biosimilars market is experiencing significant growth, driven by the escalating prevalence of chronic diseases. Factors such as an aging population, lifestyle changes associated with urbanization, and genetic predispositions are contributing to a surge in conditions like diabetes, cardiovascular diseases (CVDs), and autoimmune disorders.  

• Rising Chronic Disease Burden:

  • The National Council on Aging reports that 80% of adults aged 65 and over have at least one chronic condition, with 68% having two or more.

  • The Centers for Disease Control and Prevention (CDC) indicates that nearly 6 in 10 US adults have at least one chronic disease, and 4 in 10 have two or more.

  • CVDs, the leading cause of global mortality according to the World Health Organization (WHO), account for an estimated 17.9 million deaths annually.   

  • Diabetes prevalence is also on the rise. The International Diabetes Federation (IDF) projects that North American diabetes cases will increase from 46 million in 2017 to 62 million by 2045. Globally, cases are expected to rise from 425 million in 2017 to 629 million by 2045.   

• Autoimmune Disease and Biosimilar Use:

  • Autoimmune diseases are increasingly affecting the population, with reports of over 24 million Americans suffering from these conditions.

  • Research indicates a rise in antinuclear antibodies (ANA), a key marker of autoimmunity, across various demographics in the US.   

  • Biosimilars play a crucial role in treating these conditions, alongside cancers, kidney diseases, and diabetes.

  • The US Food and Drug Administration (FDA) has approved numerous biosimilars, with a significant portion used for cancer treatments, and others for autoimmune and diabetic conditions.
    Data shows that "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 Segments Covered

North America Biosimilars Market By Disease Indication

• Cancer

• Diabetes

• Autoimmune Diseases

• Other Diseases

North America Biosimilars Market By Drug Class

• Granulocyte Colony-Stimulating Factors

• Human Growth Hormone

• Insulin

• TNF Blockers & Monoclonal Antibodies

• Erythropoietin-Stimulating Agents

North America Biosimilars Market By Route of Administration

• Intravenous

• Subcutaneous

North America Biosimilars Market By End User

• Hospitals

• Speciality Clinics

• Homecare

North America Biosimilars Market Regions and Countries Covered

North America

• US

• Canada

• Mexico

North America Biosimilars Market leaders and key company profiles

• Amgen Inc

• Celltrion Inc

• Sanofi SA

• Biocon Ltd

• Coherus BioSciences Inc

• Eli Lilly and Co

• Sandoz AG

• Teva Pharmaceutical Industries Ltd

• Pfizer Inc

• Dr. Reddy's Laboratories Ltd

Strategic Insights for the North America Biosimilars Market:

To navigate this dynamic market, stakeholders require data-driven strategic insights. These insights provide:

• Comprehensive analysis of market trends, key players, and regional variations.

• Actionable recommendations for competitive differentiation and value proposition development.

• Utilizing data analytics for predictive market shift anticipation.

• A forward-looking perspective to ensure long-term success.

By leveraging these strategic insights, industry participants can make informed decisions, optimize profitability, and achieve their business objectives within the evolving North America biosimilars Market landscape.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights