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(Health-NewsWire.Net, August 28, 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.
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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.
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).
Cambridge Isotope Laboratories (CIL) held the leading position in the stable isotope labeled compounds market in 2018. The company offers a comprehensive portfolio of stable isotope-labeled compounds for laboratories; medical, government, and academic research centers; and healthcare facilities. The company offers more than 15,000 products and has ISO 13485, ISO/IEC 17025, and ISO Guide 34 quality systems, along with cGMP production capabilities. Over the years, the company has extended its global footprint in four countries—the US, Canada, France, and Germany. The CIL group comprises five companies—Cambridge Isotope Laboratories, Inc. (CIL) (US), CIL Isotope Separations, LLC (CIS) (US), CIL Canada (Canada), Euriso-Top (France), and ABX GmbH (Germany). All these facilities are dedicated to various stages of stable isotope-labeled compound production. The company’s isotope separation facility located in Ohio (US) is the world’s largest C-13 and O-18 isotope separation facility and has the only commercial heavy enrichment columns in the world.
With the acquisition of Sigma-Aldrich Corporation (US), Merck KGaA secured the second position in the global stable isotope labeled compounds market in 2018. Sigma-Aldrich was one of the leading developers, manufacturers, and distributors of stable isotope-labeled compounds. Its acquisition made Merck a leader in the global life science industry, valued at more than USD 113 billion (EUR 100 billion). In addition, the acquisition considerably expanded Merck’s geographic footprint, especially in North America. Merck KGaA designs and manufactures products for academic research markets, applied testing customers, the pharmaceutical & biotechnology industry, and molecular diagnostics laboratories.
Merck operates in three business sectors—Healthcare, Life Sciences, and Performance Materials. The healthcare business unit comprises the Biopharma, Consumer Health, Allergopharma, and Biosimilars businesses. The company has an enormous product range of more than 300,000 life science products sold under the SAFC, BioReliance, Millipore, and Milli-Q brands, among others. Merck is present in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa, with ~50,000 employees working at 72 production locations across 66 countries. The firm has 130 global distribution centers. Acquisitions, collaborations, expansions, a broad product portfolio, and the presence of a strong distribution and sales network across the globe have enabled this company to secure a leading position in 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.
Based on application, the stable isotope labeled compounds market is segmented into research, clinical diagnostics, industrial applications, and other applications.
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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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