The global compound management market size was exhibited at USD 474.08 million in 2022 and is projected to hit around USD 2020.35 million by 2032, growing at a CAGR of 15.6% during the forecast period 2023 to 2032.
Key Pointers:
- The products segment dominated the market with a revenue share of over 61.7% in 2022.
- The service segment is expected to expand at the fastest rate of 17.9% across the forecast period.
- Drug discovery held the largest revenue share of over 36.0% in 2022
- The biobanking segment is anticipated to register a lucrative CAGR of 17.9% across the forecast period
- The pharmaceutical companies segment held the largest revenue share of over 31.2% in 2022
- The biopharmaceutical companies segment is anticipated to exhibit the highest CAGR of 16.9% over the forecast period.
- The chemical compounds segment held the largest revenue share of over 51.2% in 2021.
- The biosamples segment is anticipated to exhibit the fastest CAGR of 16.9% over the forecast period.
- North America dominated the market for compound management with a revenue share of over 41.4% in 2022.
- Asia Pacific is expected to register the fastest growth rate of 18.9% over the forecast period.
Compound Management Market Report Scope
Increasing drug discovery activities; growth in the pharmaceutical and biotechnology industries; and increasing demand for outsourcing these services are some of the key factors driving the market. The drug pipeline has seen a visible surge in recent years. According to Pharma R&D annual review 2022, the R&D pipeline consisted of 17,737 drugs in 2020, while in 2022, the number of drugs in the pipeline rose to 20,109. The growing drug pipeline is expected to create opportunities for the market. During the COVID-19 pandemic, the majority of COVID-19 vaccines and drugs were in the pipeline. However, in 2022, biotechnology and anticancer drugs were the major drugs in the pipeline, as per Pharma R & D annual review 2022. The pipeline for these drugs is expected to improve in the coming years due to the high demand for biotechnology and anticancer drugs globally. This is expected to increase the demand for compound management of biotechnology and anticancer drugs in the post-pandemic period.
Efficient compound management is tremendously important for the success of drug discovery, where traceability, reliability, speed, and throughput are fundamental. Maintaining samples at the precise temperature, under nitrogen or dry air to prevent fluctuations of stock concentrations, and in a dark environment to avoid photodegradation, can help ensure consistency and longevity of samples.
Compounds of high integrity lead to reliable results while locating drug candidates. Moreover, the collection, storage, and distribution of human biological samples support the development of the R&D industry. In addition, it aids to understand the mechanisms of diseases as well as supports the trend to provide personalized medicines.
Automated storage systems eliminate or reduce the risks and provide reliable and correct environmental conditions to protect samples from precipitation or degradation. A management system like Verso tracks sample data, including location and type, which enables the quick and easy finding of the sample. The fully automated systems improve the process of drug discovery by eliminating error-prone and time-consuming tasks.
North America dominated the market in 2021 owing to a strong base of biotechnology and pharmaceutical companies in the region. These companies are involved in drug discovery activities, which, in turn, led to the growth of the market in the region. The Asia Pacific market is anticipated to grow fast over the forecast period. This is attributed to ongoing studies in private-public collaborations, drug discovery, and government initiatives in the region.
Some of the prominent players in the Compound Management Market include:
- Azenta US, Inc.
- Tecan Trading AG
- Hamilton Company
- BioAscent
- Titian Service Limited
- Evotec
- Beckman Coulter Inc.
- LiCONiC AG
- AXXAM S.p.A.
- SPT Labtech LTD.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global compound management market.
By Type
- Products
- Automated Compound/Sample Storage Systems
- Automated Liquid Handling Systems
- Other Compound/Sample Storage Systems
- Service
By Sample Type
- Chemical Compounds
- Bio Samples
- By Application
- Drug Discovery
- Gene Synthesis
- Bio Banking
- Others
By End-use
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
- Others (Research and Academic Institutes)
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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