Delray Beach, FL, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The global lipid nanoparticles market is on track to grow from USD 271.8 million in 2024 to USD 350.5 million by 2029, driven by advancements in lipid nanoparticle-based pharmaceuticals and their increasing role in anti-cancer and mRNA therapies, especially highlighted by their success in COVID-19 vaccines. With a robust CAGR of 5.2%, the lipid nanoparticles services market is projected to reach USD 238.1 million by 2029, showing an even higher growth rate of 11.9%. Key factors propelling this growth include the rising demand for advanced drug delivery systems that enhance treatment efficacy and specificity. However, the market faces challenges from stringent regulatory requirements and formulation complexities that can delay product development. North America currently leads the market, bolstered by significant R&D investment and a strong pharmaceutical sector. Major players include Avanti Polar Lipids, Merck KGaA, and Evonik Industries, underscoring a competitive landscape driven by innovation and collaboration in lipid formulation technologies.
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Growth in the lipid nanoparticles market can be attributed to factors such as growing R&D focus from industry for the development of lipid nanoparticles-based drugs. On the other hand, stringent regulations for lipid nanoparticles are likey to hamper the market growth.
Based on product, the lipid nanoparticles market has been segmented into ionizable lipids, PEGylated lipids, neutral lipids, phospholipids, kits & reagents, and other formulation materials. The ionizable lipid segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the increasing use of ionizable lipids for lipid nanoparticles production. The demand for ionizable lipids, essential constituents in manufacturing lipid nanoparticles (LNPs) for drug delivery, is high owing to the successful outcomes of mRNA vaccines. mRNA vaccines such as Pfizer-BioNTech's BNT162b2 and Moderna's mRNA-1273 depend on LNPs that include ionizable lipids for their administration.
Based on LNP type, the lipid nanoparticles market is segmented into solid lipid nanoparticles, nanostructured lipid carriers, and other types. Solid lipid nanoparticles segment accounted for the largest share of the lipid nanoparticles market. The large share of solid lipid nanoparticles segment can be attributed to their use in vaccine production. Moreover, solid lipid nanoparticles are an appealing alternative to conventional drug carriers for drug delivery in pharmaceutical & biomedical applications owing to several benefits.
Based on the molecule type, the lipid nanoparticles market is segmented into siRNA, mRNA, and other molecule. mRNA segment accounted for the largest share of the Lipid nanoparticles market. This can be attributed to increase in the production of mRNA based vaccines. Therapeutic LNPs have emerged as the most efficient delivery vehicle for mRNA owing to their capacity to prevent mRNA from being degraded, improve cellular absorption, and guarantee proper translation into proteins.
Based on application, the lipid nanoparticles market is segmented into commercial, and clinical applications. The commercial segment accounted for the largest share of the Lipid nanoparticles market. This can be attributed to the volume of lipid nanoparticles in vaccine production. However, the clinical applications segment is expected to register the highest growth rate during the forecast period owing to the growing focus on targeted drug delivery and rising preference for personalized medicine treatments.
Based on end users, for raw materials, the lipid nanoparticles market is segmented into pharmaceutical & biotechnologies companies, academic & research institutes, and CDMO’s. The pharmaceutical & biotechnology companies segment accounted for the largest share of the Lipid nanoparticles market. This can be attributed to the increasing use of lipid nanoparticles for formulation development and manufacturing. Pharmaceutical & biotechnology companies employ these materials to create new drug delivery systems for various therapeutic purposes. Companies in the pharmaceutical and biotechnology industries use LNPs owing to the high efficacy and safety of treatments.
Based on service type, the lipid nanoparticles services market has been segmented into formulation development services, manufacturing services, and other services. The manufacturing services segment accounted for the largest share of the Lipid nanoparticles services market. The high demand for raw material products for the manufacturing of lipid nanoparticles is the key driver for the growth of the segment. Moreover, recurring demand for services from pharma & biotechnology companies is expected to drive market growth during the forecast period.
Based on end users, for services, the lipid nanoparticles services market is segmented into pharmaceutical & biotechnologies companies, academic & research institutes. The pharmaceutical & biotechnology companies segment accounted for the largest share of the Lipid nanoparticles services market. This can be attributed to the increasing requirement of lipid nanoparticles for manufacturing. These companies engage with contract research organizations (CROs), contract development and manufacturing organizations (CDMOs), and other service providers to access specialized expertise, infrastructure, and resources for developing LNP-based therapeutics.
Based on region, lipid nanoparticles market is segmented into six major regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America accounted for the largest share of 34.8% of the Lipid nanoparticles market. The development of personalized medicine & use of LNPs for drugs under development for oncology & other indications are some of the factors supporting the growth of the North American lipid nanoparticles market. Moreover, presence of key COVID-19 m-RNA vaccine producers and key pharmaceutical research and development facilities in the region, the rising number of drug development projects, the presence of a well-established healthcare market, and the significant spending on R&D activities are also boosting the market. However, most of the growth in the market is expected from emerging countries across Asia Pacific. During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market. Factors such as increasing government efforts to increase awareness about early disease detection, rising healthcare expenditure, growing R&D activity in key markets such as India, China, and Japan, low labor costs, and the favorable regulatory environment in the region are also driving the market growth.
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The global lipid nanoparticles market is consolidated, with Avanti Polar Lipids (Croda International plc) (US), Merck KGaA (Germany), NOF CORPORATION (Japan), and Nippon Fine Chemical (Japan), accounting for the 70-75% of the market share globally.
Avanti Polar Lipids (Croda International plc) (US) founded in 1967 in Alabaster, Alabama, produces high-purity lipids for use in biochemistry, molecular biology, and pharmaceutical research. Croda International subsidiary Avanti markets phospholipids, sphingolipids, sterols and custom synthesis. The company offers extensive portfolio of lipid nanoparticles, which allows them to cater to various customer applications. Avanti also provides custom lipid synthesis services, enabling them to meet specific requirements of customers. Avanti invests heavily in research and development and also collaborates with academic and research institutes to develop new lipid formulations and technologies.
Merck KGaA (Germany) is a healthcare & life sciences company that involved in development, manufacturing, and marketing of pharmaceutical and biopharmaceutical products, specialty chemicals, high-tech materials, and life science research and diagnostic tools. The company sells a variety of lipid nanoparticles items covering several research, bioprocessing, reagents, kits, assays, software, catering to diverse research, and uses in clinical medicine. Merck has a diverse network and has developed ties with pharmaceutical, biotech, and research labs, businesses all across the globe. Merck has focussed on building its CDMO capabilities in the RNA production space to offer end-to-end solutions. For example, a biotech contract develops and Merck has agreed to purchase production company Exelead for about USD780.0 million dollars in cash.
NOF CORPORATION (Japan) is a well-known chemical manufacturer that makes a large range of produce. Furthermore, the company expanded by collaborating with key players. For instance,in April 2024, NOF CORPORATION collaborated with Phosphorex to supply lipid nanoparticle formulations by utilizing NOF's proprietary ionizable lipid, which is known as the COATSOME® SA Series. These lipids complex nucleic acids, such as mRNA, siRNA, and pDNA, into cells efficiently with controlled targeting to organs—the liver, spleen, and lymph nodes—with low toxicity. NOF's COATSOME® SS Series strengthens its position in lipid nanoparticles-based drug delivery solutions. In addition, NOF synthesizes high-purity lipid derivatives supporting lipid nanoparticles formulation of nucleic acid and gene therapy drugs, as well as liposome and emulsion formulations of small molecule drugs. Phosphorex will serve as a drug delivery-focused CDMO partner with NOF to provide one-stop services in lipid nanoparticles materials development, formulation, and scale-up manufacturing.
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