Compound Management Market Analysis, Size, Growth, Share, Trend, Forecast 2022 – 2030
Compound Management Market Growth & Trends
The global compound management market size is expected to reach USD 1.49 billion by the end of 2030, expanding at a CAGR of 15.6%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical industry and biobanking sector is fueling the market growth. The growth of translational research and personalized medicine is driving the market.
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.
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North America dominated the market in 2018 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.
Compound Management Market Report Highlights
The automated compound/sample storage systems segment was the largest in 2018 accounting for 45.2% of the market share. This is attributed to the fact that it eliminates or reduces error and saves time
Based on sample type, chemical compounds dominated the market in 2018 with the largest share of 53.0% due to the increasing drug discovery activities, resulting in an increased demand for compounds and positively affecting the compound management market growth
The biobanking segment is anticipated to exhibit the fastest CAGR of 17.1% over the forecast period. There has been increasing in the number of organizations involved in the collection and storage of human biomaterials in line with the increasing use of human biomaterials in research as a replacement for animal models. It is anticipated to support the market growth
North America led the market owing to the presence of large biopharmaceutical companies engaged in drug discovery and require huge maintenance of chemical libraries. Thus, to maintain the productivity of such biologics and drugs, most of the leading biopharma and pharma companies have started building storage facilities
Some of the players operating in the market are Tecan, Roche, Brooks Life Sciences, Evotec, Hamiltons, BioAscent, Titian Software Limited, AXXAM S.p.A., and TTP Labtech, TCG Lifesciences Private Limited, WuXi AppTec, and HDC GmbH.
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Compound Management Market Segmentation
GrandViewResearchhassegmentedtheglobalcompoundmanagementmarketbasedon type,sampletype,application,end-use,andregion:
Compound Management Type Outlook (Revenue, USD Million, 2018 - 2030)
Products
o AutomatedCompound/SampleStorageSystems
o AutomatedLiquidHandlingSystems
o OtherCompound/SampleStorageSystems
Compound Management Sample Type Outlook (Revenue, USD Million, 2018 - 2030)
ChemicalCompounds
BioSamples
Compound Management Application Outlook (Revenue, USD Million, 2018 - 2030)
DrugDiscovery
GeneSynthesis
BioBanking
Others
Compound Management End-use Outlook (Revenue, USD Million, 2018 - 2030)
PharmaceuticalCompanies
BiopharmaceuticalCompanies
ContractResearchOrganizations
Others(ResearchandAcademicInstitutes)
Compound Management Regional Outlook (Revenue, USD Million, 2018 - 2030)
NorthAmerica
o U.S.
o Canada
Europe
o U.K.
o Germany
o France
o Italy
o Spain
AsiaPacific
o Japan
o China
o India
o Australia
o SouthKorea
LatinAmerica
o Brazil
o Mexico
o Argentina
o Colombia
MiddleEast&Africa
o SouthAfrica
o SaudiArabia
o UAE
List Of Key Players in the Compound Management Market
AzentaUS,Inc.
TecanTradingAG
HamiltonCompany
BioAscent
TitianServiceLimited
Evotec
BeckmanCoulterInc.
LiCONiCAG
AXXAMS.p.A.
SPTLabtechLTD.
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Why Purchase this Report?
A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
The report provides a holistic view of the Compound Management Market.
The latest product launches, along with technological changes and developments, are included in the report.
The data analysis in the report will help you understand Compound Management Market dynamics projected from 2022 - 2030
The Report has a vast data store, so it can accommodate your custom needs as well.
Highlights Points of the Market:
The latest information on how the market is evolving to formulate their sales and marketing strategies. This Market report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth.
The market report covers the key challenges, competitive landscape, and demographic analysis that can help companies get insight into the country-specific variations.
The analysts also emphasize on the key trends and the future opportunities that can be explored in the region than can help companies in revenue expansion.
To gain competitive intelligence about leading companies with information about their market share and growth rates.
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Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.