by Nanobodies are single-domain antibody fragments derived from camelid and llama heavy-chain antibodies that are smaller in size compared to conventional antibodies and exhibit higher specificity and affinity. Nanobodies have gained increasing significance in clinical diagnosis and research due to their unique structural properties that allow deep tissue penetration and recognize hidden epitopes. They are being extensively evaluated in preclinical and clinical trials for various therapeutic applications including oncology, anti-inflammatory disorders, infectious diseases, and cardiovascular diseases among others.
The global Nanobodies Market is estimated to be valued at US$ 1256.49 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the nanobodies market is the increasing research and development activities for novel biotherapeutic applications. Various biopharmaceutical companies and research institutes are conducting preclinical and clinical trials to validate the efficacy and safety of nanobodies for developing effective therapies against life-threatening diseases. For instance, in November 2021, researchers from the University of Pittsburgh School of Medicine published a study reporting the development of nanobodies that can neutralize SARS-CoV-2 by blocking its entry into human cells. Similarly, in September 2021, a team of researchers from the University of Texas Health Science Center at San Antonio developed nanobodies to neutralize the receptor-binding domain of SARS-CoV-2 spike protein and prevent viral infection. Such ongoing efforts are projected to drive the nanobodies market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as there are high capital requirements for R&D and manufacturing. However, intellectual property protections are weak.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market has many large pharmaceutical players which gives buyers more negotiating power to demand lower prices.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for raw materials and production components required to produce nanobodies.
Threat of new substitutes: The threat of new substitutes is low as nanobodies have unique advantages over monoclonal antibodies which makes it difficult to substitute.
Competitive rivalry: The competitive rivalry is high due to presence of large players and different technologies being used for production of nanobodies.
Key Takeaways
The Global Nanobodies Market Demand is expected to witness high growth. The North America region currently dominates the nanobodies market owing to presence of major pharmaceutical players and high R&D spending.
Regional analysis: Europe is also expected to grow at a high rate during the forecast period due to increasing research activities for production of nanobodies and presence of major players in countries like Germany and UK. The Asia Pacific region is expected to witness fastest growth due to rising pharmaceutical industry, increasing government support for healthcare research, and growing collaborations between academia and industry.
Key players: Key players operating in the nanobodies market are Siemens AG, Cisco Systems Inc., IBM Corporation, Schneider Electric SE, General Electric Company, Honeywell International Inc., Huawei Technologies Co. Ltd., ABB Ltd., Hitachi Ltd., Microsoft Corporation, Oracle Corporation, Johnson Controls International plc, Black & Veatch Holding Company, Bentley Systems, Incorporated, SAP SE. Ablynx (Sanofi), AstraZeneca, F. Hoffmann-La Roche, GE Healthcare, Merck and Novartis are some major players focusing on the production and commercialization of nanobodies.
