The global compound management market size is expected to reach USD 1,212.9 million by 2028 and register a CAGR of 17% over the forecast period, according to the latest report by Reports and Data. Steady global market revenue growth is primarily attributed to increasing drug discovery and development programs worldwide, rise in sample storage and transportation activities, growing need for compound management outsourcing services, and expanding pharmaceutical and biotechnology sectors. Some other significant market growth-influencing factors are growing emphasis on outsourcing chemical and biological samples, increasing pharmaceutical RD activities, rising focus on biobanking, and surge in research collaborations among universities and research institutes, and pharmaceutical companies. However, inaccurate management and lack of expertise in compound management are some of the key factors expected to restrain global market revenue growth to some extent going ahead.
Compound management, also known as compound control, refers to the advanced management of chemical libraries and various biological samples used in drug discovery and development. The key functions of compound management include collection, storage, monitoring, and quality preservation of compounds. Moreover, it renews outdated chemicals, manages robotics used to fetch chemicals, and maintains databases. Compound management ensures the safety, purity, shelf life, and integrity of compounds, and also helps obtain precise results in assays, experiments, and high-throughput screening. Surging adoption of automated compound management and storage systems and increased government funding for healthcare research development activities are the other key factors driving the market growth.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviors are shifting in a variety of ways, from the growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Key Players covered in this report are:
BioAscent, Beckman Coulter Inc., Evotec, Hamilton Company, Brooks Life Sciences, Titian Service Limited, LiCONiC Systems, TTP Labtech, AXXAM S.p.A., and Tecan
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-user (Revenue, USD Million; 2018-2028)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Research and Academic Institutes
- Contract Research Organizations (CROs)
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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Major Points covered in this report are as below:
• The Compound Management industry development trends and marketing channels are analyzed. The feasibility of new investment projects is assessed and overall research conclusions are offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes, and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue, and gross margins.
• The Compound Management Market report provides key statistics on the market status of the Compound Management manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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