What are the Major Trends in the Nanobodies Market??
The global nanobodies market was valued USD 142.43 Million in 2021 and is expected to exhibit a CAGR of 68.85% over the forecast period from 2021 to 2030, as per a market study by Quince Market Insights. Nanobodies are also termed as single-domain antibodies. These antibodies are a type of antibody fragment that is comprised of a single monomeric variable antibody category. It comprises unique functional and structural characteristics of naturally occurring heavy chain antibody. The nanobodies market is still in very nascent step as there is only one product accepted i.e. Caplacizumab.
Additionally, high demand from cancer therapeutics can propel the market growth in the forecast period.
The product has been accepted for the treatment of acquired thrombotic thrombocytopenic purpura (aTTP). Several other products are presently under clinical trials for numerous marks such as relapsed/refractory B-cell lymphoma, rheumatoid arthritis, psoriasis, etc.
The surge in the research and development activities are anticipated to affect demand and sales in the global market in the forecast period. Improvement of numerous nanobodies’ products in clinical trials and their following approval is predictable to be a major driver for market.
Furthermore, there are numerous products of nanobodies in the initial stage of clinical development, i.e. preclinical, phase 0, and phase 1. Ablynx alone had 8 products in the clinical growth phase (i.e. phase 0 to phase 3) and a total of 45 products in the pipeline, till March 2017.
On the other hand, products in clinical trials are also likely to fail. The failure of products in clinical trials will restrict the market growth. However, growing demand from developing economies can offer significant growth opportunities in the market during the forecast period.
The global nanobodies market is in the first step, which surges the company’s capitalization in the market along with the partnership with the government to improve the operational efficiency in the pharmaceutical and healthcare industry.
The companies of manufacturing are highly capitalizing on the development of the nanobodies to meet the necessities of the clients for improved therapeutics and diagnostics operations. On the other hand, the nanobodies are in the first development stage, which surges their risk of failure, also there are restricted rules for the standardization of products that are the major challenging factors for the market in the forecast period.
Major Developments in the Nanobodies Market
· June 2019, the Food and Drug Association (FDA) has permitted the first nanobody, lifting expectations for companies that are discovering innovative uses for field antibodies.
· June 2021 - Newly-established biotech MoonLake Immunotherapeutics (Switzerland) has in-licensed the tri-specific nanobody sonelokimab (M1095/ALX 0761) from Merck KGaA (Germany). MoonLake has been set up by an international team of immunology specialists to leverage revolutionary nanobody (single-domain antibody) technology in multiple indications.
· May 2021 - Scientists from the University of Pittsburgh School of Medicine have demonstrated that inhalable nanobodies can prevent and cure severe COVID-19 in hamsters by targeting the spike protein of the SARS-CoV-2 coronavirus.
· January 2021 - Sanofi (France) to acquire Kymab (U.K.), adding KY1005 to its pipeline, a human monoclonal antibody targeting key immune system regulator OX40L.
Key Companies of the Market:
Merck KGaA (Germany), Merck & Co., Inc. (U.S.), C.H. Boehringer Sohn AG & Ko. KG. (U.S.),