Compound Management Market Expected to Reach US$ 691.41 Mn in 2027 from US$ 220.19 Mn in 2018.

The global Compound management market is expected to reach US$ 691.41 Mn in 2027 from US$ 220.19 Mn in 2018. The market is estimated to grow with a CAGR of 14.2% from 2019-2027.

Europe is the second largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed several government funding for drug discovery, collaboration between companies for use of artificial intelligence (AI) in the field of drug discovery. The growth is driven by factors such as the rising growth in biobanking segment.

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Research & development expenses compared to the methods of exploring, examining, and producing innovative products, upfront payments, and milestones, enhancing products, and exhibiting product efficiency and regulatory compliance before launch. Thus, the high research investment by investors, biopharmaceutical, and biotechnology industries are expected to propel the growth of the compound management market over the forecast years

Company Profiles:-

• Tecan Trading AGHamilton Company
• TTP Labtech
• Frontier Scientific Services
• Biosero Inc.
• Evotec
• Icagen, Inc.
• Wuxi Apptec
• TCG Lifesciences Pvt. Ltd
• BioAscent

Market Insights:-

Rising Drug Discovery Activity

Development of the drug is a complicated, long, and costly process, embedded with a high degree of improbability that a drug will succeed. Various advanced techniques are used to check the drug discovery processes. High Throughput Screening (HTS) is used in drug discovery for the screening of a large number of compounds with a biological target. The data on activity against the target is collected for a representative sample of compounds selected from an extensive library. Drug discovery aims to relate the operation of a compound to its chemical structure and therefore is used to identify more active compounds.

The process of drug development in areas such as chemical development, high-throughput screening, formulation development, drug delivery, and assay development is being sought when it truly adds value. Such rising drug discovery activity is expected to create a demand for compound management around the world.

Developing Biopharmaceutical Industries
In recent years, the biopharmaceutical industry is developing at an extraordinarily rapid speed. Manufacturers are confronting to the various healthcare difficulties through the latest medicines, progressing digitalization, therapy forms, and continuously changing the management. According to a survey report published by Torreya Economical Model 2017, the pharmaceutical industry is 30% larger than its previous estimations till 2017 and contributes to one of the top five sectors increasing global economic value. As per the statistics from the World Health Organization (WHO), the population around the globe is rising by 1.2% per annum, leading to growth in population in the elderly class.

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COMPOUND MANAGEMENT – MARKET SEGMENTATION

Global Compound Management Market – By Product & Services

• Compound/Sample Management Products
• Instruments

o Automated Compound/Sample Storage Systems
o Manual Compound/Sample Storage Systems
o Automated Liquid Handling Systems
• Software
• Services

Global Compound Management Market – By Sample Type
• Chemical Compounds
• Biosamples

Global Compound Management Market – By Application
• Drug Discovery
• Gene Synthesis
• Biobanking

Global Compound Management Market – By End User
• Pharmaceutical Companies
• Biopharmaceutical Companies
• Contract Research Organizations (CROs)
• Others

By Geography
• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South America (SAM)

Product and services Insights:-

The global compound management market by product and services was led by automated compound/sample storage systems. In 2018, the segment held the largest market share in the compound management market, by instrument. The segment is also expected to witness growth at a significant rate during the forecast period as the system can handle a broad range of labware types, which include vials, tubes, and plates, for accommodating current and future workflows also system can be run day and night without any supervision.

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This release was published on openPR.