NANOBODIES MARKET ANALYSIS

The global nanobodies market is estimated to be valued at US$ 368.6 million in 2023 and is expected to exhibit a CAGR of 24.1% during the forecast period (2023-2030).

Analysts’ Views on Global Nanobodies Market:

Nanobodies are single-domain antibodies that are derived from llama heavy-chain only antibodies with unique properties such as nanoscale size, robust structure, stable and soluble behaviors in aqueous solution, reversible refolding, high affinity and specificity for only one target, and others. Increasing application of nanobodies in diagnostics of viral infections such as COVID-19 is expected to drive the global nanobodies market growth over the forecast period.

Figure 1. Global Nanobodies Market Share (%), By Product Type, 2023

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Global Nanobodies Market– Drivers

• Increasing application of nanobodies in diagnostics of viral infections such as COVID-19: Increasing application of nanobodies in diagnostics of viral infections such as COVID-19 is expected to drive the global nanobodies market growth over the forecast period. For instance, in October 2020, Beroni Group, a biotechnology company, announced the completion of the SARS-CoV-2 pseudovirus neutralization assay in partnership with GenScript Biotech Corporation, a global biotechnology company. The assay for coronavirus-specific nanobodies assesses the nanobodies affinity and effectiveness in preventing virus infection. Nanobodies are antibodies with a single domain which are substantially smaller than conventional antibodies. Beroni Group aims to create coronavirus-specific nanobodies as a COVID-19 therapy that can be delivered to the lungs by aerosolization rather than intravenous medication administration.
• Increasing funding to launch the nanobody platforms: Increasing funding to launch nanobody platforms can increase demand for and supply of nanobody-based therapeutics. For instance, on June 20, 2023, Alamar Biosciences, a privately held life sciences company, and Frazier Life Sciences, a venture capital fund, announced the launch of Attovia Therapeutics, a new company that focuses on developing biotherapeutics for immune-mediated illness and cancer. The firm, which is built on Attobody, Alamar's innovative patented biparatopic nanobody platform, completed a US$ 60 million Series A funding led by Frazier and joined by venBio and Illumina Ventures. Hence, the benefits and potential applications of nanobodies in various fields are expected to drive the global nanobodies market’s growth over the forecast period.                  

Figure 2. Global Nanobodies Market Share (%), By Region, 2023

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Global Nanobodies Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global nanobodies market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global nanobodies market is expected to witness significant growth in the near future, driven by the increasing adoption of inorganic growth strategies such as acquisition by the key market players in the North America region. For instance, in October 2020, Proteintech Group, Inc., a biotechnology company, announced the acquisition of ChromoTek, a manufacturer of Camelid single-domain antibodies or nanobodies.                                 

Global Nanobodies Market: Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of things from one place to another.
• However, the COVID-19 pandemic had a positive impact on the global nanobodies market, owing to increasing research and development activities about nanobodies. For instance, in July 2020, a team involving researchers from Oxford University, the Rosalind Franklin Institute, Diamond Light Source, and Public Health England, U.K., stated that the antibodies known as nanobodies due to their small size could eventually be developed as a treatment for patients with severe COVID-19. The team developed new nanobodies by using a collection of antibodies taken from llama blood cells.

Global Nanobodies Market Segmentation:

The global nanobodies market report is segmented into product type, therapeutic area,  application, end user and region.

• Based on product type, the market is segmented into monovalent nanobodies, bivalent nanobodies, bispecific nanobodies, biparatopic nanobodies, multivalent nanobodies, and fusion nanobodies. Out of which, monovalent nanobodies is expected to hold a dominant position in the global nanobodies market during the forecast period, and this is attributed to technological advancement as its more effective in neurosurgery.
• Based on therapeutic area, the market is segmented into oncology, infectious diseases, inflammatory and autoimmune diseases, neurological disorders, and others. Out of which, the oncology segment is expected to hold a dominant position in the global nanobodies market during the forecast period, and this is attributed to technological advancement because it works better for neurosurgery.
• Based on application, the market is segmented into therapeutic, diagnostic, and research. Out of which, diagnostic is expected to dominate the market over the forecast period, and this is attributed to increasing neurologic disorders.
• Based on end user, the market is segmented into hospitals, biopharmaceutical companies, diagnostic laboratories and others. Out of which, diagnostic laboratories is expected to dominate the market over the forecast period, and this is attributed to the prompt treatment that can lead to proper recovery.

Among all the segmentation, the product type segment is expected to dominate the market over the forecast period, and this is attributed to increasing product approvals from regulatory bodies. For instance, in 2021, Pittsburgh inhalable Nanobody-21 (PiN-21) developed an aerosolized nanobody that is extremely effective for COVID-19 when inhaled in low doses

Global Nanobodies Market- Cross Sectional Analysis:

In the North America region, the product type segment is expected to be dominant as the key players are focused on getting approvals from regulatory authorities, which is also expected to boost the nanobodies market in the North America region. For instance, in February 2021, Sanofi received approval from the U.S. Food and Drug Administration for Cablivi (caplacizumab-yhdp) to treat adults with acquired thrombotic thrombocytopenic purpura (aTTP). The Cablivi provides an effective treatment option for people suffering from thrombotic thrombocytopenic purpura (aTTP).

Global Nanobodies Market: Key Developments

• On February 21 2023, Biocytogen Pharmaceuticals (Beijing) Co., Ltd., a global biotechnology company, announced the launch of the “Nano 100 Project” that aims to develop fully human nanobody drugs for over 100 targets. The project combines the company’s proprietary fully human nanobody mouse named RenNano with its high-throughput in vitro and in vivo antibody screening platforms to develop fully human nanobody drugs on a large-scale.
• In February 2021, i2O Therapeutics, a developer of a platform for oral delivery of traditionally injectable biological drugs, announced a research collaboration with Sanofi to investigate the oral delivery of Sanofi's Nanobody-based medicines that are currently administered through intravenous or subcutaneous injections.
• In August 2020, Numab Therapeutics, a biopharmaceutical company, announced the initiation of a clinical trial to study the safety and immunogenicity of NM21-1480 in adult patients with advanced solid tumors to determine the maximal tolerated dose. This is currently in Phase ½ of clinical trial. NM21-1480 consists of three monovalent antibodies. It is a next-generation multi-specific cancer therapeutic that simultaneously targets the tumor-immunity suppressive PD(L)-1 pathway and the tumor-immunity stimulatory 4-1BB/CD137 pathway.
• In December 2022, Taisho Pharmaceutical Co., Ltd., a Japan-based pharmaceutical company, announced the launch of Nanozora (Ozoralizumab) 30 mg syringes for subcutaneous injection, which were included in the National Health Insurance Drug Price List in November 2022.

Global Nanobodies Market: Key Trends

• Increasing investments and funding: Increasing investments and funding for nanobodies by key players in the market is expected to drive the growth of the global nanobodies market over the forecast period. For instance, on June 20, 2023, Attovia Therapeutics, a newly formed company by Alamar Biosciences, a privately held life sciences company, and Frazier Life Sciences, an investment firm, announced that Attovia Therapeutics raised funding of US$ 60 million in Series A financing to unlock potential of novel biparatopic nanobody platform.

 Global Nanobodies Market: Restraint

• Limitations associated with nanobodies: Nanobodies are increasingly used in research, diagnostics, and cancer therapeutics. However, the limitations of nanobodies are likely to hamper the global nanobodies market’s growth. For instance, in February 2021, according to AZoLifeSciences.com, a platform designed to share life science news and stories, nanobodies have significant limitations and disadvantages that limit the use of nanobody. For example, the heavy-chain antibodies from which nanobodies are developed can only be obtained from camelids and sharks. Traditional monoclonal antibodies like infliximab and adalimumab, on the other hand, are obtained from mice. Therefore, the development of nanobodies requires larger, more complicated housing and animal husbandry for obtaining the desired antibody. Key players are focusing on developing advanced products with limited disadvantages, which is expected to drive market growth over the forecast period.
• Counterbalances: It would allow the creation of novel antibodies to be made more easily by means of methods for designing antibodies, even if they do not involve a larger scale of animal husbandry.

Global Nanobodies Market - Key Players

Major players operating in the global nanobodies market include 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., and Abcepta Biotech Ltd. Co.

*Definition: Nanobodies are single-domain antibodies that are derived from llama heavy-chain only antibodies with unique properties such as nanoscale size, robust structure, stable and soluble behaviors in aqueous solution, reversible refolding, high affinity and specificity for only one cognate target, and others.