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Global Nanobodies Market, by Product Type (Mono specific Nanobodies, Monovalent Nanobodies, Multivalent Nanobodies, Bi-paratopic Nanobodies, Multi specific Nanobodies, and Fusion Nanobodies), by Application (Therapeutic and Diagnostic), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 237.1 million in 2021 and is expected to exhibit a CAGR of 24.1% during the forecast period (2021-2028).

Market players are indulged in receiving drug approvals from regulatory authorities for nanobodies, which is expected to drive the growth of the global nanobodies market over the forecast period. For instance, on September 3, 2020, Alphamab Oncology announced that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) to KN046, a recombinant humanized PD-L1/CTLA-4 bispecific antibody developed by Jiangsu Alphamab Biopharmaceuticals Co., Ltd., which is subsidiary of Alphamab Oncology company. It is intended for the treatment of Thymic Epithelial Tumors (TET),  a rare group of diseases combining thymona and thymic carcinoma , with a 0.13%  incidence rate per 100,000 population. The approval of Orphan Drug Designation (ODD) comes under Orphan Drug Act where the U.S. Food and Drug Administration (FDA) provides 50% cost of clinical trials, subsidies for R&D costs, wavier of Biologics License Application (BLA) user, and expedited regulatory approval pathway with protocol assistance.

Increasing research and development activities by the market players and research institutes is expected to drive the growth of the global nanobodies market over the forecast period. For instance, an article published on October 4, 2021, in PubMed, which is a medicine database that provides abstracts and references for biomedical and life science, stated about ongoing study by university hospital Brussel for nanobody based theranostic agents for HER2 positive breast cancer where phase II trial is currently ongoing to investigate the uptake of 68Ga-anti-HER2 VHH1 in HER2+ BC brain metastases using PET/CT imaging. During phase I trial, Drugs had no negative effects on either healthy volunteers or patients.

Global Nanobodies Market- Impact of Coronavirus (COVID – 19) Pandemic

The coronavirus disease (COVID-19) pandemic is expected to drive the growth of the global nanobodies market over the forecast period. COVID-19 is the recent pandemic outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the number of new cases and deaths continued to decrease, with nearly 257 million cases of COVID-19 reported globally and with just under 5,158,211 deaths till November 21, 2021.

Increasing research and development activities by the government organizations and research institutes is expected to drive the growth of the global nanobodies market over the forecast period. For instance, in June 2021, the researchers at the University of Michigan discovered a simple method for identifying nanobodies with properties like drug that could be used to prevent SARS-CoV-2 infections. They demonstrated the method by producing nanobodies that neutralized the SARS-CoV-2 virus more effectively than an antibody isolated from an infected patient or a nanobody isolated from an immunized animal.

Browse 37 Market Data Tables and 25 Figures spread through 175 Pages and in-depth TOC on Global Nanobodies Market, by Product Type (Mono specific Nanobodies, Monovalent Nanobodies, Multivalent Nanobodies, Bi-paratopic Nanobodies, Multi specific Nanobodies, and Fusion Nanobodies), by Application (Therapeutic and Diagnostic), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

To know the latest trends and insights prevalent in the global nanobodies market, click the link below:

https://www.coherentmarketinsights.com/market-insight/nanobodies-market-1680

Increasing prevalence of cancer globally is expected to drive the growth of the global nanobodies market over the forecast period. For instance, according to World Cancer Research Fund (WCRF), which is authority for cancer prevention research, statistics on worldwide cancer incidence in 2018 was explained by WCRF, where lung and breast cancer was the most common cancer. The following pie chart explains the global cancer incidences for year 2018.

Figure 1: Global Cancer Incidences Rate (%), By Cancer Type, 2018

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Key Takeaways of the Global Nanobodies Market:

  • The global nanobodies market is expected to exhibit a CAGR of 24.1% over the forecast period (2021-2028), owing to growth in potential markets, especially in Europe. While North America region accounted for the major market share for year 2020.
  • Market players are involved in inorganic activities such as collaboration, partnership, and For instance, on January 11, 2021, Sanofi which is a biopharmaceutical company has announced the acquisition of Kymab, a developer company of antibodies for vaccine and drug development to add KY1005 to its pipeline. KY1005 is a human monoclonal antibody targeting key immune system regulator OX40L. According to the agreement, Sanofi will have the global rights of KY1005, which is a full monoclonal antibody a combination of human antibody and mouse or rat antibody. This acquisition by Sanofi amounted approximately US$ 1,000 million to the company.
  • Some of the major players operating in the global nanobodies market include Merck KGaA, Sanofi (Ablynx), Alphamab Oncology, Novartis AG, Genscript, Taisho Pharmaceutical Holding Co. Ltd, Sensei Biotherapeutics Inc., Cusabio Technology LLC., ChromoTek GmbH, Beroni Group, ExeVir Bio BV, Absolute Antibody, Alpalife (Shenzhen Kangti Co. Ltd.), DiosCURE Therapeutics SE, Thermo Fisher Scientific Inc., PerkinElmer Inc. (BioLegend Inc.), and Abnova Corporation
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