Compound Management Market
PUBLISHED: 2023 ID: SMRC22367
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Compound Management Market

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

4.9 (91 reviews)
4.9 (91 reviews)
Published: 2023 ID: SMRC22367

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $431.68 MN

Projected Year Value (2028)

US $1101.66 MN

CAGR (2022 - 2028)

16.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America

 

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also referred to as compound control, is defined as the management of chemical libraries, including renewal of outdated chemicals, databases containing the information, robotics often involved in fetching chemicals, and quality control of the storage environment.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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o 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)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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