PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218831
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218831
Compound Management Market Forecasts to 2028 - Global Analysis By Type (Products and Services), Sample Type (Bio Samples and Chemical Compounds), Application(Gene Synthesis, Bio Banking and Drug Discovery), End User and By Geography
According to Stratistics MRC, the Global Compound Management Market is accounted for $431.68 million in 2022 and is expected to reach $1101.66 million by 2028 growing at a CAGR of 16.8% during the forecast period. Compound management, also referred to as compound control, is defined as the management of chemical libraries, including renewal of outdated chemicals, databases containing the information, robotics often involved in fetching chemicals, and quality control of the storage environment. It provides the infrastructure and logistics that aid in managing research compounds. It aids in the development of new drugs, and entails the logistics of storing, preparing, and evaluating compounds for testing as well as dispensing them during the drug discovery process.
According to Pharma R&D annual review, the pipeline consisted of 17,737 drugs in 2020, now the number of drugs in the pipeline rose to 20,109. According to FDA recommendations, biotechnology and pharmaceutical companies depend significantly on the discovery and development of biomarkers in R&D processes.
Market Dynamics:
Driver:
Technological Advancements
Technological advancements such as introduction of artificial intelligence and robotic technology in the field of compound management is a major factor driving the market growth. Large pharmaceutical companies automate compound management process with the help of robotics technology for handling the duties of adding and removing compound samples from storage and electronic barcodes facilitate record keeping. Hence, these are the factors fueling the growth of the market.
Restraint:
Huge Investments
The requirement for compound management presents significant problems, which are being overcome by coordinated efforts. A compound management facility requires significant financial outlays for both hardware and software, including the construction of new automated liquid compound storage systems connected to a substantial inventory database. Thus, these aspects are restraining the growth of the market.
Opportunity:
Maintaining speed and accuracy
An effective compound management system must strike a balance between speed and accuracy. Most compound handling systems aim to reduce human handling because it is the source of the vast majority of problems. Racks, carousels, and robotic arms are frequently used in automated compound backup and recovery systems to store and transfer compounds. Therefore, these are the factors boosting the market growth.
Threat:
Inefficient management
Improper compound management could potentially lead to various unfavourable consequences in the healthcare research sector. Inadequate compound management leads to loss or spoilage of samples, unwanted expenditure, and various other bottlenecks that hamper the drug research and development process. Hence, these factors are hindering the expansion of the market.
COVID-19 Impact
Various healthcare facilities were affected due to the outbreak of COVID-19. There was a huge impact on Compound Management Market as well. Lockdowns disrupted logistics and transportation. An integral part of healthcare reforms in near future will be technological progress, cost containment, and increased access. The front liners are digital health and telehealth. The importance of remote diagnosis, care, and consultation is re-emphasized due to the pandemic. However, many healthcare workers are working on telephone calls and video conferencing, this segment growth will increase. Online consultation of patients with moderate symptoms has greatly reduced the burden on hospitals already swamped by counts of the patients.
The service segment is expected to be the largest during the forecast period
The service segment is estimated to have a lucrative growth, due to the rise in drug discovery activities, the growing need to manage the compound management services, and the increasing need to save costs associated with drug discovery. A significant number of small and medium-sized companies lacking infrastructure is further expected to improve the demand and thus is likely to have a positive impact on the segment growth.
The bio banking segment is expected to have the highest CAGR during the forecast period
The bio banking segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing number of organizations involved in the collection and storage of biomaterials. In addition, an increasing emphasis on personalized medicine is driving the need for bio banking. Besides, the need for quality bio specimens that are used to support research is expected to increase. Thus, the abovementioned factors are anticipated to support the growth of the segment.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to continuous research in regional government initiatives, pharmaceutical discovery, and private-public collaborations. Furthermore, the low cost of outsourcing compound management services and the high prevalence of chronic and infectious diseases in the region are driving the demand for research, thus contributing to the regional market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to rising outsourcing of compound management, increasing use of AI in drug development workflow, and the current trend of biobanking. Furthermore, the rise in disease-related morbidity and mortality has resulted in the identification of more drug candidates, fueling growth in this region.
Key players in the market
Some of the key players profiled in the Compound Management Market include BioAscent, Brooks Life Sciences, Hamilton Company, Titian Software Limited, LiCONiC AG, Evotec, Azenta US, Inc., Tecan Trading AG, Beckman Coulter, Inc, SPT Labtech LTD., AXXAM S.p.A., Labcyte , Biosero, Wuxi Apptec, TTP Group, Frontier Scientific and Icagen, Inc.
Key Developments:
In June 2022, TTP Europe's leading technology and product development company and Ionomr Innovations Inc., designer and manufacturer of next-generation ion-exchange membranes and polymers for clean energy, announced they are joining forces to demonstrate a new green hydrogen electrolyzer designed for mass production.
In February 2021, SPT Labtech announced the acquisition of BioMicroLab, a robotics automation provider, to strengthen its capabilities in automatic sample management.
Types Covered:
- Products
- Services
Sample Types Covered:
- Bio Samples
- Chemical Compounds
Applications Covered:
- Gene Synthesis
- Bio Banking
- Drug Discovery
End Users Covered:
- Biopharmaceutical
- Pharmaceutical
- Contract Research Organizations (CROs)
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Compound Management Market, By Type
- 5.1 Introduction
- 5.2 Products
- 5.2.1 Automated Liquid Handling Systems
- 5.2.2 Automated Compound Systems
- 5.3 Services
6 Global Compound Management Market, By Sample Type
- 6.1 Introduction
- 6.2 Bio Samples
- 6.3 Chemical Compounds
7 Global Compound Management Market, By Application
- 7.1 Introduction
- 7.2 Gene Synthesis
- 7.3 Bio Banking
- 7.4 Drug Discovery
8 Global Compound Management Market, By End User
- 8.1 Introduction
- 8.2 Biopharmaceutical
- 8.3 Pharmaceutical
- 8.4 Contract Research Organizations (CROs)
9 Global Compound Management Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 BioAscent
- 11.2 Brooks Life Sciences
- 11.3 Hamilton Company
- 11.4 Titian Software Limited
- 11.5 LiCONiC AG
- 11.6 Evotec
- 11.7 Azenta US, Inc.
- 11.8 Tecan Trading AG
- 11.9 Beckman Coulter, Inc
- 11.10 SPT Labtech LTD.
- 11.11 ACompound ManagementAM S.p.A.
- 11.12 Labcyte
- 11.13 Biosero
- 11.14 Wuxi Apptec
- 11.15 TTP Group
- 11.16 Frontier Scientific
- 11.17 Icagen, Inc
List of Tables
- 1 Global Compound Management Market Outlook, By Region (2020-2028) ($MN)
- 2 Global Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 3 Global Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 4 Global Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 5 Global Compound Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 6 Global Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 7 Global Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 8 Global Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 9 Global Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 10 Global Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 11 Global Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 12 Global Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 13 Global Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 14 Global Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 15 Global Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 16 Global Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 17 Global Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
- 18 North America Compound Management Market Outlook, By Country (2020-2028) ($MN)
- 19 North America Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 20 North America Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 21 North America Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 22 North America Compound Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 23 North America Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 24 North America Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 25 North America Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 26 North America Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 27 North America Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 28 North America Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 29 North America Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 30 North America Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 31 North America Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 32 North America Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 33 North America Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 34 North America Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
- 35 Europe Compound Management Market Outlook, By Country (2020-2028) ($MN)
- 36 Europe Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 37 Europe Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 38 Europe Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 39 Europe Compound Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 40 Europe Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 41 Europe Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 42 Europe Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 43 Europe Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 44 Europe Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 45 Europe Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 46 Europe Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 47 Europe Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 48 Europe Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 49 Europe Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 50 Europe Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 51 Europe Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
- 52 Asia-Pacific Compound Management Market Outlook, By Country (2020-2028) ($MN)
- 53 Asia-Pacific Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 54 Asia-Pacific Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 55 Asia-Pacific Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 56 Asia-Pacific Compound Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 57 Asia-Pacific Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 58 Asia-Pacific Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 59 Asia-Pacific Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 60 Asia-Pacific Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 61 Asia-Pacific Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 62 Asia-Pacific Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 63 Asia-Pacific Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 64 Asia-Pacific Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 65 Asia-Pacific Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 66 Asia-Pacific Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 67 Asia-Pacific Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 68 Asia-Pacific Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
- 69 South America Compound Management Market Outlook, By Country (2020-2028) ($MN)
- 70 South America Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 71 South America Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 72 South America Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 73 South America Compound Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 74 South America Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 75 South America Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 76 South America Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 77 South America Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 78 South America Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 79 South America Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 80 South America Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 81 South America Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 82 South America Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 83 South America Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 84 South America Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 85 South America Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
- 86 Middle East and Africa Compound Management Market Outlook, By Country (2020-2028) ($MN)
- 87 Middle East and Africa Compound Management Market Outlook, By Type (2020-2028) ($MN)
- 88 Middle East and Africa Compound Management Market Outlook, By Products (2020-2028) ($MN)
- 89 Middle East and Africa Compound Management Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
- 90 Middle East and Africa Management Market Outlook, By Automated Compound Systems (2020-2028) ($MN)
- 91 Middle East and Africa Compound Management Market Outlook, By Services (2020-2028) ($MN)
- 92 Middle East and Africa Compound Management Market Outlook, By Sample Type (2020-2028) ($MN)
- 93 Middle East and Africa Compound Management Market Outlook, By Bio Samples (2020-2028) ($MN)
- 94 Middle East and Africa Compound Management Market Outlook, By Chemical Compounds (2020-2028) ($MN)
- 95 Middle East and Africa Compound Management Market Outlook, By Application (2020-2028) ($MN)
- 96 Middle East and Africa Compound Management Market Outlook, By Gene Synthesis (2020-2028) ($MN)
- 97 Middle East and Africa Compound Management Market Outlook, By Bio Banking (2020-2028) ($MN)
- 98 Middle East and Africa Compound Management Market Outlook, By Drug Discovery (2020-2028) ($MN)
- 99 Middle East and Africa Compound Management Market Outlook, By End User (2020-2028) ($MN)
- 100 Middle East and Africa Compound Management Market Outlook, By Biopharmaceutical (2020-2028) ($MN)
- 101 Middle East and Africa Compound Management Market Outlook, By Pharmaceutical (2020-2028) ($MN)
- 102 Middle East and Africa Compound Management Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
