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. 

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. 

Research Methodology

The market study of the North American biotechnology market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

The Report Covers

• Comprehensive research methodology of the North American biotechnology market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American biotechnology market.
• Insights about market determinants which are stimulating the North American biotechnology market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.