02-Jan-2020 | Zion Market Research
Zion Market Research has published a new report titled “Compound Management Market by Type (Services and Products); by Sample Type (Bio Samples and Chemical Compounds); by Application (Bio Banking, Gene Synthesis, Drug Discovery and Other Applications); by End User (Contract Research Organizations, Biopharmaceutical Companies, Pharmaceutical Companies and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for compound management market was valued at approximately USD 248.4 million in 2018, and is expected to generate revenue of around USD 630.2 million by end of 2025, growing at a CAGR of around 14.3% between 2019 and 2025.
Browse the full “Compound Management Market: by Type (Services and Products); by Sample Type (Bio Samples and Chemical Compounds); by Application (Bio Banking, Gene Synthesis, Drug Discovery and Other Applications); by End User (Contract Research Organizations, Biopharmaceutical Companies, Pharmaceutical Companies and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2025” Report at https://www.zionmarketresearch.com/report/compound-management-market
Chemical libraries are crucial source of information during the drug discovery process for pharmaceutical companies. These chemical libraries have great importance in hit to lead process and are used in drug discovery process using high-throughput screening. Maintenance of the chemical libraries is strictly under controlled environmental conditions and libraries are regularly monitored for quantity, purity, shelf life, impurities and other such parameters. Proper management and maintenance is needed for the biological compounds like nucleic acids, peptides, monoclonal antibodies, purified proteins, enzymes etc. Management of these biologics and chemicals is usually referred as compound management and involves database preparation and maintenance, quality control of overall storage environment, renewal of outdated chemicals and other related activities. Significant expenses are involved in compound management along with strenuous process. A large number of automated systems are available for compound management that help efficient management of compound libraries.
The global compound management market growth is fueled by various factors such as increasing numbers of drug discovery projects across the globe, increasing R&D investments, technological advancements, increasing number of chemical libraries, increasing demand for outsourcing of biologics and chemicals and growth in biopharmaceutical industry. However, huge capital investment may restrain the market growth in the coming years. Emerging market with business expansion opportunities for major manufacturers may bring growth avenues for compound management market.
The compound management market is segmented based on sample type, end user, application, type, and region. Based on type, global market is segmented into products and services. Services segment is projected to witness rapid CAGR over the forecast period as a result of growing demand for outsourcing services. Products segment is sub categorized into automated compound/sample storage systems, automated liquid handling systems, software, and other compound/sample storage systems. Products segment held largest revenue share in 2018. This large share is attributed to availability of automated and technological advanced systems.
Based on sample type, global compound management market is categorized into chemical compounds and bio samples. Chemical compounds sample type segment dominated the market with largest revenue share in 2018. High cost of automated systems and large number of chemical compounds are attributing factors for the large share of chemical compounds. During the forecast period, bio sample segment is projected to register rapid CAGR owing to growing demand for biologics above chemical compounds.
Based on application, market is segmented into drug discovery, gene synthesis, bio banking, and other applications. Market was dominated by drug discovery application segment owing to growing number of drug discovery activities and surge in R&D investments. Gene synthesis segment is projected to grow at highest CAGR in the coming years.
Based on end users, global market for compound management is segmented into biopharmaceutical companies, contract research organizations, pharmaceutical companies, and other end users. Pharmaceutical companies dominated the market in 2018 with almost 40% market share. This large share is attributed to increasing drug discovery projects and availability of R&D infrastructure. Contract research organizations will witness fastest growth over the forecast period.
At regional level, global market for compound management was led by North in 2018. The large market share of North America is attributed to factor such as growing drug discovery projects, presence of developed R&D infrastructure, technological advancements in drug discovery and presence of key pharmaceutical and biopharmaceutical companies. Europe was second leading regional market. Availability of developed infrastructure, increasing demand for outsourcing services and increasing R&D spending for drug discovery projects are major factors that support market growth in this region. Latin America is estimated to witness modest growth during the forecast period. Asia Pacific region is estimated to be fastest growing market for compound management over the forecast period. Growth in pharmaceutical and biopharmaceutical industries, growing elderly population, increasing chronic disease burden, and increasing spending on infrastructure improvement and R&D are factors propelling compound management market growth in Asia Pacific. Lack of funds, awareness, and poor infrastructure may lead to sluggish growth in Middle East and Africa.
Major players included in the report are Wuxi Apptec, TCG Lifesciences, Evotec, Biosero, Icagen, TTP Group, Labcyte, Tecan, Hamilton Company, Frontier Scientific and Brooks Automation among others.
The report segment of global compound management market as follows:
Global Compound Management Market: By Type
Global Compound Management Market: By Sample Type
Global Compound Management Market: By Application
Global Compound Management Market: By End User
Global Compound Management Market: By Region
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