Market Trends of Stable Isotope Labeled Compounds Industry
This section covers the major market trends shaping the Stable Isotope Labeled Compounds Market according to our research experts:
Research and Development Segment is Dominating the Stable Isotope Labeled Compounds Market
The growth of the segment is attributed to the increase in R&D spending. Both government and major players are investing in product development. Stable isotope tracers can be safely governed simultaneously to the same subject without compromising future studies. The plasma volume which is needed from one sample to analyze the isotope enrichment is small, allowing even preterm infants to be studied.
The use of enriched stable isotopes and their applications as they are presently known emerges from early work with metabolites labeled with deuterium by Schoenheimer and Rittenberg in 1935. For the last two decades, enriched stable isotopes have offered substantial advantages to scientists and clinicians rapidly involved in the research on human body composition, pathogenies of several diseases, and understanding disease epidemiology. Increased awareness of the role played by the elements in human health and as etiologic factors in diseases (osteoporosis, heart disease, cancer, diabetes, kidney disease), as well as diagnostic and therapeutic adjuncts (obesity, inborn errors of metabolism, heart disease), has created an explosion in need for stable isotopes.
There is increasing activity among pharmaceutical companies in the isotope area. For instance, in August 2021, Fusion Pharmaceuticals Inc., a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, and TRIUMF, Canada's particle accelerator center, announced that the companies entered into the next phase of their collaboration agreement for the development, production, and supply of actinium-225. Additionally, in December 2021, AIkido Pharma Inc. announced that the company secured a strategic equity interest in ASP Isotopes Inc., which focuses on the non-nuclear supply of enriched isotopes. Hence, with such partnerships, the segment is expected to witness significant growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. The market growth is due to factors such as the presence of key players, the high prevalence of cancer in the region, and the established healthcare infrastructure. Furthermore, beneficial government initiatives and increased research partnerships are some of the drivers expected to propel market growth. The United States has the maximum share in this region due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
There has been growing funding for research and development in stable isotopes in the United States. For instance, in October 2022, the US Secretary of Energy visited Oak Ridge National Laboratory to attend a groundbreaking ceremony for the US Stable Isotope Production and Research Center. The facility is slated to receive USD 75 million in funding from the Inflation Reduction Act. With such huge funding for stable isotopes, the market studied is expected to witness significant growth in the forecast period.
Furthermore, as per the data from Frontiers Journal published in August 2021, researchers in the United States are studying the use of stable isotopes in treating pancreatic cancer. The research on stable isotopes in the country is propelling the demand for the same and is contributing significantly to the market growth. Additionally, there is a growing burden of cancers in the United States which is augmenting the market growth.
