The Global Nanobodies Market is valued at USD 132.2 million in 2020 and is expected to reach USD 9,192.0 million by the year 2028. With monoclonal antibodies (mAbs) emerging as a prominent therapy in recent years, the advancement in personalized medicine has dramatically extended treatment possibilities and sparked new research directions in cancer therapeutics.
With mixed clinical success, mAbs still have several limitations. These shortcomings include minimal tumor penetration, high development costs, and the ability to develop therapeutic resistance. In preclinical and clinical trials, however, the latest finding of "nanobodies," the smallest known functional antibody fragment, has shown important translational potential.
Nanobodies, also known as single-domain antibodies, are a kind of antibody fragments that comprise a single monomeric variable antibody domain. Growing biological and therapeutic studies and approval by the FDA offer many chances to study nanobodies and their relationship with others, thus raising expectations for creative applications to be explored.
In recent years, due to the increasing burden of cancer, immune-mediated inflammatory diseases, and other chronic diseases, nanobodies have become invaluable therapeutic and research instruments. This is going to have a favorable impact on the global nanobodies market.
For oncology therapeutics science, nanobodies is a lucrative method, as it slows down tumor development, defends the body against systemic toxicity, and enables hydrophobic drug solubilization in hydrophilic structures. They are checked against a wide spectrum of factors and are ready to be used in different circumstances. Companies engaging in clinical science, realizing the potential of nanobodies, are pursuing numerous joint research techniques to create and commercialize nanobody-based therapeutics.
Presently, there are no products in the market, and more than two-third products are in very early phase of development. So, these products have to go through various phases of clinical developments. Slow approval by the regulatory bodies as well as failure in clinical trials may prove to be major restraints for this market.
Nanobodies Market, By Product Type
Based on the product type, the global market has been segmented into monospecific and multispecific nanobodies. Monospecific nanobodies accounted for a 100% share in 2020 based on the product type, as multispecific nanobodies are projected to be introduced in the market by 2023. The highest growth between 2020 and 2028 will be witnessed in the multi-specific nanobodies segment.
Nanobodies Market, By Distribution Chanel
Based on the distribution channel, the nanobodies market segmentation includes retail pharmacies, hospital pharmacies, and online pharmacies. The retail pharmacies segment is expected to account for the largest share of 48.9% in the global nanobodies market in 2020.
Nanobodies Market, By Regions
Europe is projected to hold a leading position in the global nanobodies market in terms of value, as the region has the first-mover advantage. Europe became the only market to possess nanobodies, which are commercially available. The North American market will also experience significant growth in the coming years. The growth in North America is predicted to accelerate during the forecast period because the companies in the region have filed for a biologic license agreement for an equivalent product to U.S. FDA in 2018. These companies received FDA approval in 2019.
Key Developments in the Nanobodies Market
Some Key Findings of the Nanobodies Market Report Include:
By Product Type
By Distribution Channel
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
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