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Compound Management Market Size to Reach USD 826.2 Million in 2028 | Emergen Research

October 25th, 2021 Emergen Research Releases

Increasing need for compound management to streamline and accelerate drug discovery process and automate storage of chemicals to enhance efficiency of research workflow and growing investment for high-throughput research and development activities are key factors expected to drive market growth

According to Emergen Research, the global compound management market size was USD 285.6 million in 2020 and is expected to reach USD 826.2 million in 2028 and register a revenue CAGR of 14.1% during the forecast period, 2021-2028.

Market Dynamics:

Compound management refers to the collection, processing, organization, and storage of different chemicals that are crucial for drug discovery and biomedical research. Compound management needs to be efficiently handled to prevent interference or hindrances that could disrupt the release of effective and viable therapeutics. Pharmaceutical and biotechnology companies have increased their focus on compound management to avoid the negative impact of entering wrong or inaccurate compound for testing. Increasing demand for efficient inventory management of crucial compounds and small molecules, ensuring quicker identification, and provision of high integrity compounds during research and drug discovery workflows are key factors expected to drive market revenue growth over the forecast period.

Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/634

Compound management offers a robust infrastructure and logistics for efficient management of research compounds and supports drug discovery hit to lead process. Different chemicals used in drug discovery and research processes are stored as physical quantities in chemical library or libraries that are extensively used in high-throughput screening in drug discovery process. The chemical compounds are often stored in environmentally-controlled conditions in small or large containers and are labelled with codes that are added into the database. These chemical libraries play a crucial role in the drug discovery and development process in large pharmaceutical and biotechnology companies. Compound management covers the management of these libraries, renewing outdated chemicals, information databases, and quality control of the storage environment. Compound management requires significant expenses and robust infrastructure such as space, robotics, IT support, and analytical support, among others. This has led to increasing number of companies outsourcing this function to companies that specialize in compound management.

Advancements in research facilities such as availability of fully automated, state-of-the-art laboratory robotic systems, rapid compound sourcing and aggregation, up-to-date visibility of all samples, and rapid delivery of compounds in screen-ready microtiter plates have been further contributing to the growing trend of outsourcing compound management. In addition, cost-effective and transparent pricing and rapid adoption of compound management in pharmaceutical organizations of all sizes such as from start-up to big pharma are some other key factors expected to contribute to revenue growth of the market going ahead.

COVID-19 Impact Analysis

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Outsourcing Services Segment to Register Robust Revenue Growth:

Outsourcing services segment is expected to register robust revenue growth over the forecast period attributable to increasing number of pharmaceutical and biotechnology companies outsourcing compound management to companies specializing in this area due to high expenses, requirement of standard infrastructure, and complexity of compound management.

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Chemical Compounds Segment Accounted for a Significantly Large Revenue Share in 2020:

Chemical compounds segment accounted for a significantly large revenue share in 2020 owing to growing demand for different chemicals for drug discovery and research activities and increasing application of compound management for storage and management of chemical libraries.

Drug Discovery Segment to Account for Largest Revenue Share:

Compound management is an integral part of drug discovery and development and is widely used in high-throughput screening in drug discovery hit-to-lead processes. This has significantly contributed to revenue growth of the drug discovery segment and is expected to continue to do so going ahead.

North America to Dominate Other Markets in Terms of Revenue Share:

North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to increasing need for efficient compound management due to large number of clinical trials and drug discovery processes, presence of numerous small and big pharmaceutical companies, increasing investment to accelerate biomedical R&D activities, and presence of key players in the region.

Major Companies in the Market Include:

  • Brooks Automation
  • Hamilton Company
  • TTP Group
  • Labcyte
  • Biosero
  • Tecan
  • Evotec
  • Wuxi AppTec
  • Icagen
  • TCG Lifescience

For the purpose of this report, Emergen Research has segmented the global compound management market based on solution, sample type, application, end-use, and region:

Solution Outlook (Revenue, USD Million; 2018–2028)

  • Products
    • Software
    • Instruments
  • Outsourcing Services

Sample Type Outlook (Revenue, USD Million; 2018–2028)

  • Chemical Compounds
  • Biosamples

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

  • Drug Discovery
  • Gene Synthesis
  • Biobanking
  • Others

End-Use Outlook (Revenue, USD Million; 2018–2028)

  • Biopharma Companies
  • Pharma Companies
  • Biobank
  • CRO

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends:  https://www.emergenresearch.com/industry-report/compound-management-market

Regional Outlook (Revenue, USD Million; 2018–2028)

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • K.
    • BENELUX
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of MEA

Look Over transcripts provided by Emergen Research

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