The global stable isotope labelled compounds market is likely to record a CAGR of 3.01 per cent between 2019 and 2026. The market was valued at USD 277.10 million in 2020 and is estimated to reach USD 331.07 million by 2026. The growth of the global stable isotope labelled compounds market is attributed majorly to the increase in research activities in the pharmaceutical and biotechnology sector, increasing proteomics research, as well as the rising prevalence of cancer. However, the high cost of stable isotope-labelled compounds is likely to slow the pace of the growth of this market during the forecast period.
In 2018, the global stable isotope labelled compounds market demand was highest from pharmaceutical & biotechnology companies. On the basis of end users, the global stable isotope labelled compounds market is segmented into pharmaceutical and biotechnology companies, hospitals & diagnostic centres, academic & research institutes, and other end users. Among these categories, the pharmaceutical and biotechnology companies segment accounted for the larger share of the market in 2018. The growth of the pharmaceutical & biotechnology segment is primarily attributed to the increase in research and development spending, which is likely to drive drug research activities in this industry.
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The global stable isotope labelled compounds market is segmented on the basis of type, application, end user, and geography. With respect to type, the market is sub-segmented as deuterium, carbon-13, oxygen-18, nitrogen-15, and other stable isotopes. With respect to application, the segment is further divided as research, clinical diagnostics, industrial and other applications.
According to geographical analysis, the North American market is projected to grow at the highest CAGR between 2019 and 2026. North America is anticipated to dominate the global stable isotope labelled compounds market due to the major factors including the growth of the pharmaceutical and biopharmaceutical industry, the developed nuclear industry in the US, the growth of the Canadian pharmaceutical industry, as well as the availability of funding in North American countries. The North American dominance of the global stable isotope labelled compounds market in forecast period is to be followed by Europe and APAC.
Some of the prominent players in the global stable isotope labelled compounds market include Cambridge Isotope Laboratories, Inc. (US), URENCO Limited (UK), IsoSciences, LLC (US), Medical Isotopes, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), PerkinElmer Inc. (US), Merck KGaA (Germany), Trace Sciences International (US), Alsachim (France), Omicron Biochemicals, Inc. (US), and Rotem Industries Israel Ltd. (Israel). These major players have focused on acquisitions, product launches, agreements, and partnerships to augment their shares in the global market.
Cambridge Isotope Laboratories (CIL) is one of the major organizations in the global stable isotope-labelled compounds market. The company offers a comprehensive portfolio of stable isotope-labelled compounds for laboratories-medical, government, and academic research centres; and healthcare facilities. Over the years, the company has extended its global footprint in four countries—the US, Canada, France, and Germany.
Check the report description at: Global Stable Isotope Labelled Compounds Market Size, Trends, Analysis - Forecasts to 2026