by The nanobodies market is estimated to be valued at US$ 368.6 Million In 2022 and is expected to exhibit a CAGR of 24.1% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nanobodies are single domain antibody fragments derived from camelid heavy-chain antibodies that are increasingly being used for targeted therapy development and diagnostic applications. Due to their small size, thermal stability, and strong binding affinity, nanobodies have emerged as an attractive alternative to conventional antibodies. The growing demand for targeted therapy has boosted interest in nanobodies, which can be engineered for tumor targeting. Nanobodies also hold promise for improving diagnostics and treatment of various chronic diseases.
Market Dynamics:
The rising prevalence of chronic diseases worldwide is a key factor propelling the growth of the nanobodies market. For instance, according to WHO estimates, chronic diseases cause around 70% of all deaths globally every year. Nanobodies offer a targeted approach for improved treatment of chronic diseases like cancer, cardiovascular disease, and neurological disorders. Additionally, the growing demand for one-time targeted treatments with negligible side-effects is fueling interest in nanobodies. Conventional antibody therapeutics face challenges like limited tissue penetration and short half-life, while nanobodies demonstrate superior penetration ability and stability. Nanobodies also allow flexible engineering for achieving multi-specific formats for complex diseases. These advantages are expected to support wider adoption of nanobodies in the pharmaceutical industry for developing novel targeted therapies.
Segment Analysis
The global nanobodies market is segmented on the basis of source, type, technology, application and end-use industry. Based on source, the market is segmented into camelides, sharks and others. Among these, the camelides segment dominates the market as nanobodies derived from camel heavy-chain antibodies exhibit high affinity, specificity and stability against various molecular targets.
PEST Analysis
Political: Favorable government policies and initiatives to support funding in healthcare and biotechnology research involving nanobodies to develop therapeutic solutions for various diseases have boosted the Nanobodies Market growth.
Economic: Growing healthcare expenditures and rising disposable incomes in developing countries have increased investments in R&D activities involving nanobodies, driving the market.
Social: Increasing prevalence of various chronic and infectious diseases worldwide has created high demand for affordable diagnostic and therapeutic solutions, providing opportunities for nanobodies.
Technological: Advancements in molecular technologies for efficient production and development of nanobodies for novel therapeutic applications have facilitated their entry into clinical studies and drug development process.
Key Takeaways
The global nanobodies market is expected to witness high growth, exhibiting CAGR of 24.1% over the forecast period, due to increasing investments in R&D activities by pharmaceutical companies and research institutes focusing on development of nanobodies for therapeutic applications. The market size for 2023 is estimated at US$ 368.6 Million.
Regional analysis: North America is expected to dominate the nanobodies market during the forecast period. This is attributed to robust healthcare infrastructure, presence of key pharmaceutical players, and increasing R&D expenditures in the region. Asia Pacific is anticipated to exhibit the fastest growth owing to rising government initiatives to enhance healthcare facilities, increasing healthcare expenditures, and growing penetration of global players in the market.
Key players operating in the nanobodies market are Merck KGaA, Sanofi, AlpalifeB Inc, GenScript, Novartis International AG, Taisho Pharmaceutical Holdings Co., Ltd., Sino Biological, Inc., GeneMedi, Biocytogen, Abnova Corporation, NanoTag Biotechnologies, Avillion LLP, Capra Science, Numab Therapeutics, CUSABIO TECHNOLOGY LLC, Proteintech Group, Inc., GT Biopharma, Inc., Confo Therapeutics, R&D Systems, Inc., Abcepta Biotech Ltd. Co. These players are focusing on new product launches and collaborations to expand their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
