Global Compound Management Market Report, Industry Analysis and Forecast to 2029

The global Compound Management market was valued at USD 410.1 million in 2021 and is projected to reach USD 1,391.4 million in 2029, at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period 2022-2029.

Compound management, also known as compound control, alludes to the advanced management of chemical libraries and various biological samples used in drug discovery and development. It includes restoring outdated chemicals, managing robotics used to fetch chemicals, databases having the data, and storage environment quality control. Compound management ensures the wellbeing, purity, shelf life, and integrity of compounds, and also helps obtain precise outcomes in assays, tests, and high-throughput screening.

There are different types of compound management such as automated liquid handling systems, automated compounds, and other compounds. Global Compound Management Market by Sample type are Chemical Compounds Market and Bio Samples Market. Additionally, there are several applications such as Biopharma Companies, Biobank, Pharma Companies, CRO, and Others. This report emphasises the types and applications of Compound Management in different regions and countries over the forecast period.

Source: Marketlook Consulting

Global Compound Management Market Overview

The rising demand for outsourcing of chemical & biologics and growth in the biopharmaceuticals sector is expected to drive compound management in the market over the years. Furthermore, emphasis on job creation activities in CROs and CMOS has allowed numerous biotech and biopharma companies to focus on core functions. Companies are progressively undertaking collaborations and energy efficiency technologies, which are expected to push the compound management market. Growing partnerships between private or public organizations build drug discovery systems, mastery, and the growing investment in research & development are anticipated to fuel global demand.

Compound Management Market Dynamics

The pharmaceutical industry's fastest-growing subsegment is biopharmaceuticals. As the demand for sample management ascends because of increased biologic production, the expansion of this industry will also help that of the sample management market. Biologics demand is on the ascent, biosimilars are developing, biopharmaceutical companies are spending more on research and development, and chronic diseases are on the ascent. Moreover, by concentrating on outsourcing errands to CROs and CMOs, most of biotech and biopharma businesses can focus on their core competencies. For instance, in January 2022, pharmaceutical company AstraZeneca expanded its (AI)-powered drug discovery partnership with Benevolent AI to discover drugs for diseases such as systemic lupus erythematosus and heart failure. Such partnerships are probably lucrative for the market.

Additionally, Technological advancements in automated storage systems over the years are also projected to bolster the market growth. For instance, in order to save human work and boost overall laboratory productivity, Hamilton Storage has introduced the Verso Q50 and Verso Q75 Automated Sample Storage Systems which are very compact in Feb 2022. Moreover, the automated storage systems segment is expected to exhibit rewarding growth over the forecast period attributable to increasing demand for automation to deal with the compound and libraries.

Source: Marketlook Consulting

However, large capital investments are required to establish compound management facilities which might hamper the growth of the market over the forecast period.

Compound Management Market Report Outlook

The Compound Management market report focuses on different aspects regarding the type, sample types and across different applications of Compound Management, in the Healthcare sector. The research analyses the different types, and Applications of the product to obtain a better understanding of the growth and trends of the market since 2019 which also facilitates the estimation of the upcoming growth of the market in the next 7 years.

Compound Management Market Competitive Landscape

The report also holds competitive analysis which can be used to differentiate different types of products; technologies used in manufacturing the products; prices; innovation in R&D; organic and inorganic growth strategies; financial analysis to determine the revenue generation and other key aspects of the finance; new partnership, joint ventures, collaborations, and acquisitions; market share of the top competitors in the market; and understand the growth strategies being undertaken by these major players to analyse the future market trends.

Major companies such as on May 2021, Brooks Automation, Inc. announced its intention to split its business into two standalone companies with one focusing on life sciences and the other on semiconductor manufacturing industries. Additionally, starting in September 2021, Hamilton announces that it will add CO-RE II Technology to all currently available automated liquid handling products, establishing a new benchmark for liquid handling in all life science applications. CO-RE II Technology is the industry's answer to automated pipetting precision, sureness, and extended life. Moreover, In February 2021, SPT Labtech announced the acquisition of BioMicroLab, a robotics automation provider, to strengthen its capabilities in automatic sample management.

Other major players holding prominent shares in the Compound Management market include Azenta US, Inc., Tecan Trading AG, Titian Service Limited, Evotec, Beckman Coulter Inc., LiCONiC AG, AXXAM S.p.A., etc. There are several regional and local players in this market across the globe which are contributing to the revenue growth of the market and thus expected to flourish with new launches and expansion in the upcoming years.

Compound Management Market Regional Analysis

The market synopsis will also cover the regional dynamics and growth prospects which would include regions- North America, Asia Pacific, Europe, Latin America, Middle East and Africa. These regions will be analysed per country on the basis of market drivers, restraints, opportunities, and trends to get a closer view of the market studied.

Moreover, The North American region secured the largest revenue share in the compound management market in 2021 due to this region is home to numerous pharmaceutical and biotechnology companies which are engaged in the drug discovery process. Thus, there is a bringing need for services in this area. Moreover, expansion in illness-related morbidity and mortality, which has prompted the making of more medication candidates. Positive drug discovery and research endeavours by public entities are further propelling the growth of the Compound Management market over the forecast period.

Additionally, the Asia Pacific region is anticipated to witness the fastest growth over the forecast period. Attributable to the ongoing studies in government initiatives, private-public collaborations and the discovery of drugs are some of the other factors likely to boost the growth of the regional market. Japan contributed the biggest piece of the pie inferable from the favourable government support. The revised Pharmaceutical Affairs Law upholds research activities regarding tissue diagnostics and cancer in Japan, which is expected to drive the market for compound management in this country soon. Scrutinising these factors for the countries is expected to enhance the value chain of the Compound Management market and aid us with better insights about the same.

Compound Management Market In-depth Analysis Aspects

To mention certain other aspects which will include the Porter Five Forces, Pricing analysis, PESTEL Analysis, Export-Import data, and Industry Value Chain will also bind the analysis of the report.

Research Methodology

The study period of the market is considered to be 10 years (2019-2029) which will be analysed through the two major research techniques – Primary and Secondary Research methods. The primary research method includes the interviews of the key personnel in the industry considered as the industry experts, major distributors, suppliers, and consumer base sample survey to understand the direct perspective of the market. Additionally, these data are backed by the secondary research method which includes company overview through websites, annual reports, SEC filings, investor presentations, news, and databases. The growth trends are always measured on the basis of current and past scenarios considering any recent news which can drastically impact the growth rate of the market studied. Moreover, the consumption forecast depends on the company’s upcoming plans and revenue generation aspects.

Benefits of The Report

• The report is designed to understand the past, present and future market scenarios considering all the growth, restraining, and other factors influencing the market studied.
• The report is designed with the assistance of the industry experts for a better understanding of the market studied
• The market is analysed with an in-depth study of the company’s view on the market considering the present economical, political, social, geographical, and legal factors.
• To gain a clear insight for a better future perspective of the market studied in 360-degree synopsis.
• Understand the competition in the market is a part of the market or a new entrant in the market.
• Analyse the different aspects in different geographies influencing the growth of the market through a diverse consumer base.