April 20, 2024

The Nanobodies Market Poised To Grow At 4.5% Cagr Through 2030 Driven By Increasing Biopharmaceutical Applications

The nanobodies market has gained significant momentum in the recent years owing to increased applications in various biopharmaceutical sectors. Nanobodies, also known as single domain antibodies, are gaining popularity as an alternative to conventional monoclonal antibodies due to their small size and high stability. They can be easily produced in microbial systems like yeast and help develop innovative diagnostics and treatments for various diseases.

The global nanobodies market is estimated to be valued at US$ 1447.48 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period from 2024 to 2031.

Key players operating in the nanobodies market are 3M, Auto Custom Carpet Inc., Autotech Nonwovens Pvt Ltd., Conform Automotive, Feltex, GAHH LLC, RACEMARK International, LLC, Lloyd Mats Inc., German Auto Tops Inc., Lear Corporation (Masland Corporation), Low & Bonar PLC, Suminoe Textile Co., Ltd., Toyota Boshoku Corporation, Walser GmbH, MacNeil Automotive Products Limited (WeatherTech), Husky Liners, Inc. (Truck Hero, Inc.), and Lund International, Inc. The growing demand for nanobodies in research and drug development is a major factor fueling market growth. Nanobodies offer significant advantages over conventional antibodies such as easy production, high stability, and strong binding affinity making them an attractive toolkit for therapeutics and diagnostics.

Furthermore, increasing investments by market players to develop innovative products using nanobody technology is also boosting market expansion. Several biopharmaceutical companies are utilizing nanobodies for developing treatments against various chronic diseases and disorders. The global expansion of key players into emerging markets through partnerships and acquisitions will further augment the growth of nanobodies market over the forecast period.

The increasing R&D investments in developing nanobody-based biosensors for point-of-care testing is one of the key trends in the nanobodies market size. Nanobodies are being evaluated for their application in developing sensitive and affordable biosensors for clinical diagnostics and food pathogen detection. Their high affinity and selectivity make them suitable for integration with biosensing technologies. This expanding application area of nanobodies will likely propel market growth through 2030.

Porter’s Analysis
Threat of new entrants: Low cost of production and technology required to produce nanobodies.
Bargaining power of buyers: Buyers have low bargaining power as not many sellers offer nanobodies for applications.
Bargaining power of suppliers: Suppliers have greater power due to differentiation in production technology and capability.
Threat of new substitutes: Substitutes like monoclonal antibodies pose moderate threat as they cannot match versatility of nanobodies.
Competitive rivalry: High as new applications are driving companies to invest in R&D to offer differentiated product lines.

Geographical Regions
North America accounts for the largest market share in terms of value due to increasing R&D investments and production outsourcing by pharmaceutical companies. The United States holds majority of the market owing to presence of major players and research institutions.

Asia Pacific region is poised to grow at the fastest pace during the forecast period. Expanding biopharmaceutical industry in India and China along with increasing healthcare spending is driving the regional market. China holds an edge due to availability of technical expertise and cost-effective production facilities

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it