"Designing Growth Strategies is in our DNA"
The lipid nanoparticles market size was valued at USD 687.5 million in 2021 and is projected to grow from USD 777.4 million in 2022 to USD 1,895.1 million by 2029, exhibiting a CAGR of 13.6% during 2022-2029. North America dominated the global market with a share of 65% in 2021.
Based on our analysis, the global market exhibited a growth of 95.1% in 2020 as compared to 2019. Lipid nanoparticles are clinically advanced gene delivery systems. Generally, they are used to deliver nucleic acids, becoming promising vectors for several therapeutic options in the pharmaceutical industry. Many pharmaceutical and biotechnology companies are focusing on manufacturing LNP-based drugs to deliver a variety of therapeutic agents. The nanoparticles are being utilized in the treatment of diseases such as cancer.
For instance, in June 2020, the U.S. FDA granted to fast-track designation to Ipsen Pharma for using liposomal irinotecan (ONIVYDE) to treat patients with metastatic pancreatic cancer.
Hence, rising applications as a drug carrier will boost the market. Moreover, researchers are using lipid-based nanoparticles with a particle size of approximately 100 nm as a drug carrier that can be prepared from different lipid & chemical components to overcome biological barriers. This is increasing its applications in therapeutics & vaccines.
In May 2021, Merck KGaA launched synthetic cholesterol products to meet the demand for lipids to develop mRNA-based vaccines and therapeutics.
This increasing focus on personalized medicine is projected to propel the market. Combined with this, the latest innovations are estimated to boost the overall market.
Market Growth Favored on Account of Soaring Demand for Lipid Nanoparticles
The market witnessed high growth in terms of revenues in 2020, owing to the increasing adoption of these products as a carrier for vaccine delivery. Fragile m-RNA used in COVID-19 vaccines cannot enter the cells, and thus lipid nanoparticles are essential for the delivery of m-RNA into the cells as they perform transportation of gene-based vaccines to the right target site in the human body, which has increased the usage of LNP’s in COVID-19 vaccines. For instance, Pfizer Inc. and Moderna, Inc. use LNP’s to produce mRNA COVID-19 vaccines.
The market players witnessed significant growth in revenue generated during 2020. For instance, Merck KGaA registered an increase of around 9.5% in revenue generated from the sales of these nanoparticles in 2020 compared to 2019. Moreover, in 2020, Croda International Plc. made a five-year contract to supply lipid components to the Pfizer-BioNTech COVID-19 vaccine. The company delivered lipid components to Pfizer-BioNTech to allow them to meet their target of providing 50.0 million doses of the COVID-19 vaccine, and 25.0 million people got vaccinated against COVID-19 with the vaccine containing critical Croda components.
In 2021, Croda International Plc. registered an increase in sales of around USD 150 to 200 million, following its acquisition of Avanti Polar Lipids Inc., and the high demand for lipid systems from mRNA vaccine manufacturers. Also, in April 2021, the drug delivery systems division of Evonik Industries AG registered sales of triple-digit million euros and is expected to record double-digit growth rates over the following years.
Moreover, revoking lockdown restrictions and stay-home orders in many countries, along with launches of lipid nanoparticle-based drugs, has been instrumental for further lipid nanoparticles market growth during 2021. Merck KGaA’s revenue from the sales of these products recovered by 19.6% in 2021 compared to revenues in 2020. Also, the revenues generated by Evonik Industries AG in 2021 increased by 18.9% compared to the revenues in 2020. Therefore, the resumption of medical facilities & new product launches had a positive impact on the demand in 2021.
Request a Free sample to learn more about this report.
Market Value Driven by Growing Adoption of Nanoparticles in Gene Therapy as Vector
Lipid nanoparticles are deployed as vectors in gene therapy to treat genetic disorders. These are safer than viral proteins. They can deliver various sizes of nuclei acids to cells. Also, they can be quickly produced by the combination of targeting ligands.
Moreover, the strong emphasis of key players on mergers and acquisitions for setting up new manufacturing facilities is further propelling the applications of LNP products.
Market Growth to be Driven by Increasing Focus on Innovative and Personalized Medicine
Personalized medicines are essential for delivering drugs at specifically targeted sites. Liposomes, niosomes, nanoparticles, and nanotechnology-based drug delivery systems are helpful in several therapeutic areas. Lipid nanoparticles are used as a carrier in delivering oncology and neurology-related drugs.
Key players in the market collaborated with other biotechnology companies to develop and manufacture lipid nanoparticle-based drugs to treat inflammatory disorders and cardiovascular diseases.
Strong Focus on R&D by Market Players for Development of Distinct Products to Stimulate Market Growth
The key manufacturing companies in the market are focusing on developing lipid nanoparticle (LNP) based drugs to address certain medical challenges. Also, they are focusing on collaborations with government organizations to establish new lipid production facilities. This has led to a rise in demand for nanomaterials and lipid-based carriers globally.
Stringent Regulations and Side Effects Associated with the Use of Lipid Nanoparticles to Restrict Growth in Emerging Countries
As the pharmaceutical industry is growing globally, several laws have been introduced to monitor the quality and effectiveness of medicines. Regulatory authorities have emerged to accomplish the requirements of legal procedures for drug development in several countries. Moreover, stringent regulations issued by several governments restricted the inflow of R&D investments for developing and marketing complex drugs using nanoparticles.
The clinical trials and research on these nanoparticles have depicted side effects, which are one of the major factors limiting the market growth.
To know how our report can help streamline your business, Speak to Analyst
Solid Lipid Nanoparticles Segment to Dominate Backed by Associated Benefits
The solid lipid nanoparticles segment held a major market share globally in 2021. This is due to increasing associated advantages:
The nanostructured lipid carriers segment is estimated to grow at a higher CAGR owing to the introduction of advanced nanostructured lipid carriers based drugs by pharmaceutical companies.
Therapeutics Segment Share to Rise Due to Increasing Use of Lipid Nanoparticles as Carriers
The therapeutics segment is anticipated to grow at a faster CAGR in terms of share by application. The increasing use in manufacturing drugs to treat various chronic diseases such as cancer is responsible for the growth of this segment. Also, the major players in the market focus on launching innovative products.
The growth of the research segment is owing to the increasing number of clinical trials conducted by leading players to establish the efficiency of these products as therapeutic options for the treatment of various conditions and the use of LNP- mRNA-based vaccines for COVID-19.
Pharmaceutical & Biotechnology Companies Segment to Record Substantial Growth Due to Increasing Demand for Lipid Nanoparticle-based Drugs
The pharmaceutical & biotechnology companies segment is anticipated to generate the highest market revenue during the projected period. The increasing demand for LNPs by pharmaceutical companies in manufacturing and marketing various drugs based on LNP formulation technology to deliver mRNA is responsible for the growth of this segment. For instance, in April 2021, VAV Lifesciences agreed with CDMO to supply nanoparticles used in vaccine manufacturing.
The growth of the academic & research institutes segment during the forecast period is due to the ongoing research studies on LNPs to develop innovative and advanced products in the market to treat complex diseases like cancer. For instance, according to a study published in the Multidisciplinary Digital Publishing Institute (MDPI), researchers have developed a lipid-based micelle encapsulated with docetaxel (M-DOC) effective in breast cancer treatment.
North America Lipid Nanoparticles Market Size, 2021 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
On the basis of region, North America generated a revenue of USD 446.9 million in 2021 and is expected to dominate the global lipid nanoparticles market share throughout the forecast period. The robust presence of the major players and wide portfolio range are some of the major factors driving the regional market. Moreover, the intense focus of key players on geographical expansion to increase their international presence is responsible for the growth in this region.
On the other hand, Europe is anticipated to emerge as the second-most dominant region by 2029. The growth in this region is attributed to the focus on receiving product approvals and R&D investments of key players to launch new products. For instance, EUROAPI collaborated with Sanofi to support its mRNA vaccine platform by developing lipid nanoparticles.
Asia Pacific is projected to record slow growth during the forecast period. This is attributed to the companies' lack of direct presence and stringent government regulations on these drugs. For instance, India-based VAV Lifesciences is the only major player in the region.
The market in the rest of the world, including Latin America and the Middle East & Africa, is estimated to grow slower than Asia Pacific due to the absence of key market players and lack of awareness. Furthermore, increased demand for LNP-mRNA-based COVID-19 vaccines has increased the demand for LNPs based drugs in the region. For instance, in February 2022, Moderna, Inc. partnered with Adium Pharma S.A. to distribute SpikeVax in 18 countries across Latin America.
Key Players Adopt Various Strategies to Consolidate Market Position
Merck KGaA is the leading player in the global market. Its focus on strategies such as mergers and acquisitions, collaborations, and new product developments strengthened its market position globally. Combined with this, the growing investment of the company in research activities to develop a portfolio of superior treatment solutions has enabled the company to hold a leading position in the market.
Other players operating in the market, such as Evonik Industries AG, Gattefossé, and IOI Oleo GmbH, are focusing on establishing new manufacturing facilities to expand their geographic footprint to meet the growing demand for LNP-mRNA-based drugs in the market.
An Infographic Representation of Lipid Nanoparticles Market
To get information on various segments, share your queries with us
The global market research report provides an elaborative analysis of the global industry dynamics and competitive landscape. Key sights presented in the report are new product launches by key players, advances in drug delivery, key mergers, acquisitions, partnerships, and company profiles.
Value (USD Million)
By Type; Application; End-user; and Region
By End User
Fortune Business Insights says that the global market was valued at USD 687.5 million in 2021 and is projected to reach USD 1,895.1 million by 2029.
In 2021, the global market was valued at USD 687.5 million.
Growing at a CAGR of 13.6%, the market will exhibit steady growth over the forecast period (2022-2029).
The solid lipid nanoparticles segment is expected to be the leading segment during the forecast period.
Increasing focus on innovative and personalized medicine worldwide will drive the market growth.
Merck KGaA and Precision NanoSystems are the top players in the market.
North America is expected to hold the highest market share.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry