Compound Management Market Size to Reach USD 1,212.9 Million in 2028 | Reports And Data

Increasing drug development activities worldwide, coupled with rising need to outsource chemical and biological samples are factors expected to bolster market growth

New York, April 15, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 353.8 million in 2020, Market Growth – at a CAGR of 17%, Market Trends – Rise in adoption of automated systems for compound storage and management

The global compound management market size is expected to reach USD 1,212.9 million in 2028 and register a CAGR of 17% over the forecast period, according to a latest report by Reports and Data. Some key factors driving market revenue growth including robustly expanding pharmaceutical and biotechnology sectors, consistently increasing drug discovery and development activities globally, expansion in sample collection and storage activities, and rising focus on adopting compound management outsourcing services. Other major revenue driving factors are increasing biopharmaceutical research & development activities, expanding biobanking sector, surging need for chemical and biological sample outsourcing, and increasing research collaborations between academic research institutions and leading pharmaceutical companies.

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Compound management involves efficiently managing chemical libraries and biological samples and plays a vital role in enhancing the purity, safety, shelf life, and other significant parameters of samples. Compound management in the pharmaceutical industry has significantly transformed drug discovery, development, and high-throughput screening. The process mainly involves the collection, storage, monitoring, processing, and quality control of pharmaceutical compounds and samples. Inventory management is a key component of compound management and helps monitor biologics and molecules widely utilized in assays, experiments, and high-throughput screening. Hence, compound management helps maintain the integrity and quality of these compounds and, therefore, facilitates the entire drug discovery and development workflow. Rising adoption of automated compound storage and management systems and substantial government investments in R&D activities is further propelling market revenue growth. However, unfavorable consequences of improper compound management are a significant factor predicted to impede market growth in the coming years.

Compound Management Market, By Type (Automated Compound/Sample Storage Systems, Automated Liquid Handling Systems, Outsourcing Services, Others), By Sample Type (Chemical Compounds, Biological Samples, Others), By Application (Drug Discovery, BioBanking, Gene Synthesis, Others), By End-use (Pharmaceutical Companies, Biopharmaceutical Companies, Research and Academic Institutes, Contract Research Organizations (CROs), Others), and By Region Forecast to 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/compound-management-market

Key Highlights From the Report:

• Based on type, the products segment is projected to lead in terms of revenue share of around 70% among the other type segments in the market over the forecast period. The high growth of this segment is primarily supported by increasing adoption of automated compound management systems and growing awareness of superior features such as robust efficiency and reliability.

• Among the application segments, the drug discovery segment accounted for largest revenue share in 2020. Revenue from this segment is expected to increase significantly over the forecast period, owing to a major surge in drug discovery and development activities globally and increased government funding and support across pharmaceutical and biotechnology sectors.

• Among the regions, the North America compound management market accounted for the largest revenue share of 44.2% in 2020. Increasing drug discovery and development programs and activities, rising prevalence of acute and chronic diseases, increasing research collaborations between pharmaceutical companies and academic institutions, and robust presence of major market players are some major factors attributable for the steady revenue growth of the North America market. Asia Pacific is expected to register the fastest revenue CAGR over the forecast period, augmented by increasing government investment in drug discovery and development initiatives, and increasing pharmaceutical import and export activities across the region.

• Major companies operating in the global compound management market are Brooks Life Sciences, Beckman Coulter Inc., LiCONiC Systems, Hamilton Company, BioAscent, Tecan, Evotec, Titian Service Limited, TTP Labtech, and AXXAM S.p.A.
  
  

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For the purpose of this study, the global compound management market has been segmented based on type, sample type, application, end-use, and region:

By Type (Revenue, USD Million; 2018-2028)

• Products

  • Automated Compound/Sample Storage Systems

  • Automated Liquid Handling Systems

  • Others

• Services

• Outsourcing Services

• Others

By Sample Type (Revenue, USD Million; 2018-2028)

• Chemical Compounds

• Biological Samples

• Others

By Application (Revenue, USD Million; 2018-2028)

• Drug Discovery

• BioBanking

• Gene Synthesis

• Others

By End-use (Revenue, USD Million; 2018-2028)

• Pharmaceutical Companies

• Biopharmaceutical Companies

• Research and Academic Institutes

• Contract Research Organizations (CROs)

• Others

By Region (Revenue, USD Million; 2018-2028)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • BENELUX

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Rest of the Asia Pacific

• Latin America

  • Brazil

  • Rest of Latin America

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

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