(PharmaNewsWire.Com, November 18, 2021 ) According to the new market research report Stable Isotope Labeled Compounds Market is projected to grow at a CAGR of 3.0% during the forecast period to reach USD 312 million by 2024 from USD 269 million in 2019.
The growth of this market is driven majorly by the increase in research activities in the pharmaceutical and biotechnology sector, the rising prevalence of cancer, and rising proteomics research. However, the high cost of stable isotope-labeled compounds is expected to restrain the growth of this market during the forecast period.
Premium Insights > Stable Isotope-Labeled Compounds Market Overview > North America: Stable Isotope-Labeled Compounds Market, By Application (2018) > Geographical Snapshot of the Stable Isotope-Labeled Compounds Market
Based on application, the Stable Isotope Labeled Compound Market is segmented into research, clinical diagnostics, industrial applications, and other applications. The research segment accounted for the largest share of the stable isotope-labeled compounds market in 2019, owing to rising research activities in the biomedical, pharmaceutical, environmental & ecological, and agricultural sectors.
Based on type, the stable isotope labeled compounds industry is segmented into C-13, N-15, O-18, H-2 (deuterium), and other isotopes. The H-2 labeled compounds segment accounted for the largest share of the stable isotope-labeled compounds market in 2019. The large share of this segment can be attributed to the increasing pharmaceutical research conducted using deuterium and the growing nuclear industry. This growth in this segment is driven primarily by increasing drug research in the pharmaceutical industry and the rising availability of deuterium-labeled compounds.
The prominent players in the stable isotope labeled compounds market include PerkinElmer Inc. (US), Merck KGaA (Germany), Cambridge Isotope Laboratories, Inc. (US), URENCO Limited (UK), IsoSciences, LLC (US), Medical Isotopes, Inc. (US), Omicron Biochemicals, Inc. (US), Trace Sciences International (US), Alsachim (France), Taiyo Nippon Sanso Corporation (Japan), and Rotem Industries Israel Ltd. (Israel). Major players have focused on acquisitions, product launches, agreements, and partnerships to increase their shares in the global market.
North America is expected to dominate the stable isotope labeled compounds market. The major factors driving the growth of this market include the growth of the pharmaceutical and biopharmaceutical industry, the large nuclear industry in the US, the growth of the Canadian pharmaceutical industry, and the availability of funding in North American countries. North America is also expected to register the highest CAGR during the forecast period.
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