Stable Isotope Labeled Compounds Market Growth: Trends and Opportunities
The global stable isotope labeled compounds market size is projected to reach USD 312 million by 2024 from USD 269 million in 2019, at a CAGR of 3.0% between 2019 and 2024. 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.
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The H-2 labeled compounds segment accounted for the largest share of the stable isotope labeled compounds market.
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 research segment accounted for the largest share of the stable isotope labeled compounds market in 2019.
Based on application, the stable isotope labeled compounds 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.
North America market of the stable isotope labeled compounds industry is expected to grow at the highest CAGR during the forecast period
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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Cambridge Isotope Laboratories (CIL) (US), Merck KGaA (Germany), and URENCO (UK) are the key players operating in the stable isotope labeled compounds market. Other prominent players in the market include 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).
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