growing number of clinical trials of various nanobody products & their subsequent approval are expected to augment the market at a healthy CAGR of 17.88% during the forecast period of 2023to 2032.

Nanobody market is estimated to register a CAGR of 17.88% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global nanobody market— Sanofi (France), Merck KGaA (Germany), BIOCYTOGEN (US), Proteintech Group, Inc (US), Novartis AG (Switzerland), GenScript (US), Sensei Biotherapeutics, Inc (US), Beroni Group (Australia), ExeVir Bio (Belgium), Taisho Pharmaceutical Holdings Co., Ltd (Japan), and DiosCURE Therapeutics SE (Germany).

Market Highlights

The global nanobody market is accounted to register a CAGR of 17.88% during the forecast period and is estimated to reach USD 2.94 billion by 2032.

There has been a significant increase in research and development activities focused on the development of nanobody-based therapies. This includes research on new targets for nanobody-based therapies and the optimization of nanobody production and delivery. For instance, in January 2023, ExeVir Bio (Belgium) announced that it has secured a venture debt financing agreement of USD 26.5 Million with the European Investment Bank (Luxembourg). This financing will help advance ExeVir’s lead asset, XVR012, into clinical trials for COVID-19. Additionally, governments in developed regions such as Europe, and North America are also providing funding and support for research and development activities related to nanobodies. Thus, rising funding and support are also driving the growth of the global nanobody market by enabling the development of new nanobody-based therapies.

The increasing prevalence of chronic diseases, the rising demand for precision medicine, and increasing investment in nanobody research and development are propelling market growth. However, the manufacturing challenges and high production costs are expected to hamper the growth of the global market. Nevertheless, the growing development of new applications of nanobodies is projected to create lucrative opportunities for market players.

Segment Analysis

The global nanobody market has been segmented based on type, application, and end user.

On the basis of type, the market is segmented into mono-specific and multi-specific. The mono-specific segment was attributed to holding the largest market share of over 72.52% in 2022 revenue as estimated by MRFR analysts. This is due to the increasing prevalence of various types of cancer across the globe, the growing preference for personalized medicine, and the increase in investment and funding for clinical trials.

Further, we estimate that the market segment would continue to pool in the largest chunk of revenue during the forecast period. It has been identified that the segment market yet witnesses continuous innovations and movements in terms of new products and service launches.

On the basis of the application, the market is segmented into therapeutic, diagnostic, and research. The therapeutic segment is further segmented into cancer, neurodegenerative diseases, infectious diseases, and others. Further, the diagnostic detection of protein and microorganisms, detection of small molecules, and imaging. The research segment is projected to have the largest market share during the forecast period. This is due to the increasing prevalence of chronic diseases such as cancer, neurodegenerative diseases, infectious diseases, and joint-related diseases.

On the basis of the end user, the market is segmented into pharmaceutical & biotechnology companies, research laboratories, and others. The pharmaceutical & biotechnology companies segment is projected to have the largest market share during the forecast period. This is due to the increasing funding and investment to develop nanobodies, the rising use of nanobody platforms in pharmaceutical & biotechnological companies, and the rising preference for targeted therapies.

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Regional Analysis

The global nanobody market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of US and Canada. The Europe nanobody market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The nanobody market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the world’s nanobody market comprises of Middle East, Africa, and Latin America.

the high awareness associated with nanobodies technology in drug discovery and development to reduce the cost of production, and the rising preference for personalized medicine are expected to foster North America’s market growth.

Moreover, the Europe market has been persistently growing owing to investment and funding support through the government, the growing number of startups, and the increasing R&D associated with nanobodies.

Additionally, market factors, such as the rising number of clinical trials, increasing startups along with active funding and investment, and increasing prevalence of cancer and infectious diseases in the Asia-Pacific region and are driving the region’s growth.

Furthermore, the rest of the world's patient portal market is divided into the Middle East, Africa, and Latin America. The major factors driving the growth of the nanobody market in the region are the increasing prevalence of human immunodeficiency virus (HIV) and increasing incidences of communicable and non-communicable diseases.

Key Findings of the Study

• The global nanobody market is expected to reach USD 2.94 billion by 2032, at a CAGR of 17.88% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, owing to the growing geriatric population, increasing prevalence of cancer and infectious diseases, and improving research capabilities in the Asia-Pacific region.


• Based on type, the mono-specific segment was attributed to holding the largest market in 2022, with an approximate market share of around 72.52%.


• Sanofi (France), Merck KGaA (Germany), BIOCYTOGEN (US), Proteintech Group, Inc (US), Novartis AG (Switzerland), GenScript (US), Sensei Biotherapeutics, Inc (US), Beroni Group (Australia), ExeVir Bio (Belgium), Taisho Pharmaceutical Holdings Co., Ltd (Japan), and DiosCURE Therapeutics SE (Germany) are the key market players.