The report covers forecast and analysis for the compound management market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the compound management market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the compound management market on a global as well as regional level.
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.
In order to give the users of this report a comprehensive view on the compound management market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the compound management market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the compound management market on global and regional basis.
The study provides a crucial view on the compound management by segmenting the market based on type, sample type, application, end user and region. All the segments of compound management market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Chemical libraries are critical source of information for pharmaceutical companies in the process of drug discovery. Chemical libraries are used in hit to lead process of drug discovery using high-throughput screening. The chemical libraries are maintained in strictly controlled environmental conditions with regular monitoring of purity, quantity, impurities, shelf life and other parameters. The biological compounds such as peptides, nucleic acids, purified proteins, monoclonal antibodies, enzymes etc. need proper management and maintenance. Compound management usually refers to management of these chemicals and biologics with database preparation and maintenance, renewal of outdated chemicals and quality control of overall storage environment and other related activities. Compound management is both laborious work and also includes significant expenses. Various automated systems are available in the market for compound management which manage compound libraries more efficiently.
The demand for compound management market is driven by increasing investments in R&D, growing drug discovery projects across the globe, surge in number of chemical libraries, technological advancements, growth in biopharmaceutical industry and increasing demand for outsourcing of chemicals and biologics. However, high initial capital investment may act as restraining factors for the market growth. Focus of major manufacturers on business expansion in emerging market may act as major opportunity of compound management market.
Based on type, global compound management market is bifurcated into services and products. Products segment is sub segmented into software, automated liquid handling systems, automated compound/sample storage systems and other compound/sample storage systems. The products segment accounted for largest market share in 2018 whereas services segment is expected to witness rapid CAGR over the forecast period due to increasing demand for outsourcing services. Technological advancements and availability of automated systems are factors that attribute to large market share of product segment.
Based on sample type market is segmented into bio samples and chemical compounds. Chemical compounds sample type segment held largest market share in 2018. High number of chemical compounds and high cost of automated systems are factors that attribute to the largest market share of chemical compounds. Bio sample segment will register highest growth during the forecast period owing to increasing demand for biologics over chemical compounds.
The application segment is divided into bio banking, gene synthesis, drug discovery and other applications. Drug discovery application segment held largest market share due to increasing number of drug discovery projects and increasing R&D investments. Gene synthesis application segment will grow at rapid CAGR over the forecast period.
Contract research organizations, biopharmaceutical companies, pharmaceutical companies, and others are end users of the compound management market. Pharmaceutical companies dominated the compound management market in 2018 with almost one third market share owing to availability of R&D infrastructure, and increasing drug discovery activities. Contract research organizations end user segment is expected to witness rapid growth over the forecast period.
North America dominated the global compound management market in 2018. Presence of developed R&D infrastructure, growing drug discovery projects, presence of major biopharmaceutical and pharmaceutical companies and technological advancements are factors driving the market in this region. Europe was second largest regional market. Rise in R&D spending, presence of developed infrastructure, and growing demand for outsourcing services are some of factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region will exhibit highest growth for compound management market in the coming years. Growing biopharmaceutical and pharmaceutical industries, increasing chronic disease burden, increasing geriatric population base, increasing R&D spending and focus on infrastructure improvement are factors promoting compound management market growth in Asia Pacific. Lack of awareness, funds and infrastructure may attribute to slower growth in Middle East and Africa.
Major players included in the report are TCG Lifesciences, Wuxi Apptec, Icagen, Evotec, Biosero, Labcyte, TTP Group, Hamilton Company, Tecan, Brooks Automation, and Frontier Scientific 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