(I-BusinessNews.Com, September 24, 2020 ) The Factors such as the increase in research activities in the pharmaceutical and biotechnology sector, rising proteomics research, and the rising prevalence of cancer.
According to the new market research report Stable Isotope Labeling 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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Â 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.
Â Based on application, the Stable Isotope Labeling 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.
Cambridge Isotope Laboratories (CIL) (US), Merck KGaA (Germany), and URENCO (UK) are the key players operating in the Stable Isotope Labeling 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 Labeling 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 countriesÂthe US, Canada, France, and Germany. The CIL group comprises five companiesÂCambridge Isotope Laboratories, Inc. (CIL) (US), CIL Isotope Separations, LLC (CIS) (US), CIL Canada (Canada), Euriso-Top (France), and ABX GmbH (Germany).
With the acquisition of Sigma-Aldrich Corporation (US), Merck KGaA secured the second position in the global Stable Isotope Labeling 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 MerckÂs 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 sectorsÂHealthcare, Life Sciences, and Performance Materials. The healthcare business unit comprises the Biopharma, Consumer Health, Allergopharma, and Biosimilars businesses.
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In 2019, North America dominated the Stable Isotope Labeling 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.
Mr. Aashish Mehra
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Mr. Aashish Mehra