Nanobodies Market Is Estimated To Witness High Growth
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| Nanobodies Market |
The nanobodies market is estimated to be valued
at US$ 368.6 Million Or Mn 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 heavy-chain
antibodies found naturally in Camelidae including camels, dromedaries, alpacas,
and llamas. Nanobodies offer advantages over conventional antibodies such as
simple and economical production, high specificity and affinity to antigens,
thermal stability, and neutral pH range. Their small size allows them to bind
cryptic epitopes and address applications where conventional antibodies do not
work. Owing to these advantages, nanobodies are increasingly being used as
substitutes to traditional monoclonal antibody therapeutics.
Market key trends:
One of the key trends driving the growth of the nanobodies market is the
increasing demand for monoclonal antibody therapeutics. Monoclonal antibodies
have revolutionized modern medicine and are being widely used for treatment of
various diseases including cancer, cardiovascular diseases, neurological
disorders, and infectious diseases. However, their large size often hinders
easy penetration into tumor tissues and entry into intracellular target sites.
Nanobodies overcome these limitations of conventional monoclonal antibodies
owing to their small size. Various pharmaceutical companies are investing in
research and development of nanobody therapeutics to expand treatment options.
Porter’s Analysis
Threat of new entrants: The Nanobodies
Market requires high R&D investments and clinical
trials which acts as a barrier for new players. Additionally, established
players have garnered sizable market share over the years making it difficult
for new players to penetrate.
Bargaining power of buyers: Buyers have moderate bargaining power due to the
specialized nature of nanobodies. However, availability of substitutes provide
some bargaining power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to
low switching costs and availability of substitutes. However, supplier
consolidation in the industry has reduced individual supplier power.
Threat of new substitutes: Threat of substitutes is moderate as new drug
modalities like biosimilars and cell therapies may replace nanobodies in
treatment of certain indications.
Competitive rivalry: The market is highly competitive with focus on R&D to
develop novel nanobody products.
SWOT Analysis
Strengths: Nanobodies have high affinity and selectivity. They can be produced
through cost effective microbial systems with faster development timelines.
Weaknesses: Clinical validation and regulatory approval process remains
challenging. Manufacturing at commercial scale also requires further
development.
Opportunities: Rising demand for personalized therapeutics provides significant
opportunities. Growing interest in targeting previously undruggable targets
using nanobodies also offers scope.
Threats: Limited in-house expertise, manufacturing barriers and navigating
regulatory guidelines are threats to commercialization. High development costs
and failure risk in clinical trials are other threats.
Key Takeaways
The global nanobodies market is expected to witness high growth, exhibiting CAGR of 24.1% over the forecast period,
due to increasing demand for monoclonal antibody alternatives and rapidly
growing therapeutics applications of nanobodies.
Regionally, North America is expected to dominate the nanobodies market owing
to presence of major players and huge biopharmaceutical industry. Asia Pacific
is anticipated to exhibit fastest growth rate owing to increasing investments
in the life science sector, growing economies and rising awareness.
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.
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