April 28, 2021
According to a research report titled ‘Global Stable Isotope Labeled Compounds Market Size study, by Type (Hydrogen-2, Carbon-13, Oxygen-18, Nitrogen-15, Others), by Application (Research Applications, Clinical Diagnostics, Industrial Applications, Others), by End-User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Hospitals & Diagnostic Centers, Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global staple isotope labelled compounds market was valued at approximately USD 269 million in 2019, and is anticipated to grow at a rate of 3% during 2020-2027, reaching a valuation of USD 341 million by the end of the forecast timespan.
Research findings state that the widespread prevalence of cancer, increasing research activities in pharmaceutical and biotechnology sectors, and rapid developments in proteomics research are the major factors contributing to global stable isotope labeled compounds market growth.
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Citing an instance, the International Agency for Research on Cancer (IARC), reported 17 million new cases of cancer and 9.5 million deaths in 2018. Furthermore, 27.5 million new cancer cases and 16.3 million cancer deaths are anticipated to be recorded by 2040, owing to rapidly increasing geriatric population all over the world, in turn, will bolster the demand in global stable isotope labeled compounds market.
For the unversed, stable isotope-labeled compounds are non-radioactive chemical substances which are being increasingly adopted in metabolism-negotiated toxicity research. These compounds are highly preferred in mechanistic toxicity experiments, owing to their extensive contribution to drug delivery research across the world.
Based on application ambit, global stable isotope labeled compounds market is classified into clinical diagnostics, industrial applications, and research applications. By type the business vertical is arrayed into carbon-13, hydrogen-2, nitrogen-15 and oxygen-18.
On the basis of end-user spectrum, pharmaceutical & biotechnology companies, hospitals & diagnostic centers, and academic & research institutes define the market size.
On the regional front, Asia-pacific region currently accounts for majority of global stable isotope labeled compounds market share due to increased government funding and initiatives aimed at cancer prevention, and high concentration of product suppliers in the region.
Meanwhile, North America is expected to record a hefty growth rate in the ensuing years owing to the presence of advanced healthcare infrastructure and rapidly progressing pharmaceutical research activities in countries like the U.S and Canada.
Key contenders in global stable isotope labeled compounds market sphere are Merck Group, Omicron Biochemicals Inc., Aksachim SAS, Urenco Group, CortecNet, PerkinElmer Inc., Trace Sciences International, BOC Sciences, and Taiyo Nippon Sanso Corporation.