Compound management refers to systematically organizing, storing, and tracking chemical compounds in research and development processes. It involves the implementation of efficient protocols and technologies to ensure the integrity and accessibility of compound libraries. Compound management is an essential discipline that facilitates discovery by producing assay-ready compound plates for screening purposes.
Sizing and Forecast
The compound management market size has grown rapidly in recent years. It will grow
from $0.45 billion in 2023 to $0.52 billion in 2024 at a compound annual growth
rate (CAGR) of 16.0%. The growth in the
historic period can be attributed to advances in high-throughput screening
(HTS), increased demand for outsourcing of chemicals, increased investment in
research and development by pharmaceuticals, automation, and robotics, growing
demand for compound management outsourcing services, and regulatory compliance.
The compound management market size is expected to see rapid growth in the next
few years. It will grow to $0.95 billion in 2028 at a compound annual growth
rate (CAGR) of 16.2%. The growth in the
forecast period can be attributed to increasing drug discovery and development
activities, a rise in disease-related morbidity and mortality, the rising
prevalence of chronic diseases, rising drug delivery projects, and the
expansion of biobank. Major trends in the forecast period include increased
automation, growth of AI and machine learning, the proliferation of biobanks
and biorepositories, innovative solutions, and cloud-based solutions.
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Segmentation & Regional Insights
The compound management market covered in this report is segmented –
1) By Type: Product, Service
2) By Sample: Chemical Compound, Bio Samples
3) By Application: Drug Discovery, Gene Synthesis, Bio Banking, Other
Applications
4) By End-Use: Pharmaceutical, Biopharmaceutical, Contract Research
Organizations, Other End-Uses
North America was the largest region in the compound management market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the compound management market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the manufacturing of pharmaceutical drugs is expected to propel
the growth of the compound management market going forward. Pharmaceutical
drugs refer to medications or substances used to prevent, treat, or diagnose
medical conditions in humans or animals. The surge in pharmaceutical drug
manufacturing can be attributed to increasing demand for innovative and
effective medications, the rising prevalence of chronic diseases, supportive
government policies and funding, and the growing importance of personalized
medicine. Compound management is used in pharmaceutical drug manufacturing to
ensure the efficient handling, storage, and tracking of chemical compounds
crucial for research, development, and production. For instance, in June 2023,
according to the European Federation of Pharmaceutical Industries and
Associations (EFPIA), a Belgium-based trade association representing the
pharmaceutical industry, the total pharmaceutical production in Europe accounted
for $368,832 million (€340,000 million) in 2022, an increase of approximately
4.95% from $351,420 million (€323,950 million) in 2021. Therefore, the rise in
the manufacturing of pharmaceutical drugs is driving the growth of the compound
management market.
Key Industry Players
Major companies operating in the compound management market are Thermo Fisher
Scientific Inc., WuXi AppTec Co. Ltd., PerkinElmer, Tecan Group Ltd., Beckman
Coulter Life Sciences, Evotec AG, Azenta Inc., Hamilton Company, Frontage Laboratories
Inc., LabWare Inc., SPT Labtech, BioStorage Technologies Inc., Genedata,
ChemAxon, Highres Biosolutions Ltd, Sapio Sciences, Axxam S.p.A, Labcyte Inc.,
LiCONiC AG, Titian Software Ltd, Biosero Inc, Zinsser Analytic GmbH, TCG
Lifesciences Pvt., BioAscent Discovery Ltd, Frontier Scientific Inc.
The compound management market report table of contents includes:
1. Executive Summary
2. Compound
Management Market Characteristics
3. Compound
Management Market Trends And Strategies
4. Compound
Management Market - Macro Economic Scenario
5. Global
Compound Management Market Size and Growth
.
32. Global
Compound Management Market Competitive Benchmarking
33. Global
Compound Management Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Compound Management Market
35.
Compound Management Market Future Outlook and Potential Analysis
36.
Appendix
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