CHICAGO, Jan. 14, 2020 /PRNewswire/ -- According to the new market research report "Stable Isotope Labeled Compounds Market by Type (Carbon 13, D, Oxygen 18, N15), Application (Research, Clinical Diagnostics, Industrial), End User (Pharmaceutical & Biopharmaceutical Companies, Academic institute), Region – Global Forecast to 2024", published by MarketsandMarkets™, the 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 Factors such as the increase in research activities in the pharmaceutical and biotechnology sector, rising proteomics research, and the rising prevalence of cancer.
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 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.
North America to dominate the stable isotope labeled compounds systems industry during the forecast period
In 2019, North America dominated the Stable Isotope Labeled Compounds Market, followed by Europe. 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.
The prominent players in this 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).
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