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(MoneyNewsWire.Net, May 01, 2018 ) The global stable isotope labeling market is expected to reach USD 294.2 Million by 2022 from USD 254.6 Million in 2017, at a CAGR of 2.94%. The growth of this market is majorly driven by the increasing research activities in the pharmaceutical and biotechnology sector, growing proteomics research, and rising cancer prevalence. However, the high cost of these compounds may hinder the growth of the market to a certain extent.
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The report analyzes the market on the basis of type, application, end user, and region. Based on type, the market is segmented into Carbon-13, Deuterium, Oxygen-18, Nitrogen-15, and other isotopes. The Deuterium (H-2) segment is expected to account for the largest share of the market in 2017, owing to its increased use in various research processes. By application, the market is segmented into research, clinical diagnostics, industrial, and other applications. The research segment is expected to account for the largest share of the market in 2017. Based on end user, the stable isotope labeling market is segmented into pharmaceutical and biotechnology companies, research & academic institutes, hospitals & diagnostic centers, and others. In 2017, pharmaceutical and biotechnology companies are expected to account for the largest share of the market and are also projected to grow at the highest CAGR during the forecast period.
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In 2017, North America is estimated to account for the largest share of the global market, followed by Europe. Factors such as the growing pharmaceutical and biopharmaceutical industry, isotope production and distribution program fund, and the presence of a large nuclear industry in the U.S.; the growing Canadian pharmaceutical industry and rising adoption of PET imaging in Canada are supporting the growth of the North American stable isotope labelling market. This region is also expected to register the highest CAGR during the forecast period.
In 2017, Cambridge Isotopes Laboratories, Inc. (U.S.) and Merck KGaA (Germany) dominated the global stable isotope-labeled compounds market. Some of the other players competing in the market are URENCO (U.K.), IsoSciences, LLC (U.S.), Medical Isotopes, Inc. (U.S.), Omicron Biochemicals, Inc. (U.S.), Nordion (Canada) Inc., Trace Sciences International (U.S.), Alsachim (France), Taiyo Nippon Sanso Corporation (Japan), PerkinElmer Inc. (U.S.), and Rotem Industries Israel, Ltd. (Israel).
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