NANOBODIES MARKET ANALYSIS

Nanobodies MarketSize and Trends

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).

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

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.