Compound Management Market is Estimated to Reach at USD 1237.41 Million at a CAGR of 14.9% During the Forecast Period 2028

A worldwide Compound Management Market research report is a verified and reliable source of information that gives a telescopic view of the existing market trends, emerging products, situations, and opportunities that drives the business toward success. This global market research report is organized by collecting market research data from different corners of the globe with an experienced team of language resources. The report serves the clients to tackle every strategic aspect including product development, product specification, exploring niche growth opportunities, application modelling, and new geographical markets. The universal market report also provides company profiles and contact information of the key market players in the key manufacturer's section.

Compound management market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 14.9% in the forecast period of 2021 to 2028 and is expected to reach USD 1,237.41 million by 2028 from USD 409.98 million in 2020. Increasing involvement of AI in drug development workflow, trending biobanking scenario, and increase in outsourcing compound management are the key drivers of the market for global compound management market.

Compound management is a service that provides secure compound storage and aggregation, rapid delivery of hits, and leads to the pharmaceutical, biopharmaceutical, and other contract research organization with quality control and inventory management. Compounds that are used for research purpose start their journey from the collection then they are stored, then processed and finally reaches to the research labs for drug development.

The demand for the compound management market has been increased in both developed as well as in developing countries and the reason behind this is the increase in research and development across the globe for which compound management is used to increase the pace of workflow and overcome the bottle neck of the drug development process. The compound management market is growing due to the up-gradation of software driven compound management, increase in outsourcing compound management and rising disposable income. The market will grow in the forecasted period due to the exploration of emerging markets, a strategic initiative to promote a compound management system and increasing automated pharmaceutical workflow.

The compound management market report provides details of market share, new developments, and impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the compound management market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Global Compound Management Market Scope and Market Size

Compound management market is categorized into seven notable segments which are based on product & services, sample type, process, application, compound library size, end user and distribution channel.

On the basis of product & services, the compound management market is segmented into compound/sample management products and outsourcing services. In 2021, compound/sample management products are dominating in the compound management market because they are crucial assets for compound management and needed for various functions. Moreover, most companies prefer in-house equipment for research purposes. Although, laboratory automation and storage devices are the strongest contributing factors, a large number of compound management products are required in research workflow and development processes.

On the basis of sample type, the compound management market is segmented into chemical compounds and biosamples. In 2021, chemical compounds are dominating the market because they constitute significant share in all kinds of drug discovery including biopharmaceuticals. The chemicals are used as reagents or in reactions for development workflow irrespective of the field of research. The involvement of chemical samples attribute to the high percent of using chemical compounds in the compound management market.

On the basis of process, the compound management market is segmented into high-throughput screening, fragment based screening and lead optimization. In 2021, high throughput screening is dominating the market as it has been the leading model of small molecule drug discovery for the biopharmaceutical industry. Companies have invested more than one million compounds in hardware (liquid storage, robotics and read-out technologies), process automation, and large compound collections in over two to three decades.

On the basis of application, the compound management market is segmented into drug discovery, preclinical discovery, gene synthesis, bio banking and others. In 2021, drug discovery dominates the market as most companies are focused on investing the highest amount of capital in drug discovery as compared to other applications as it involves the identification of hits and lead candidates, chemical synthesis, characterization of the leads compound, screening, and assays for therapeutic efficacy of the final developed compound.

On the basis of compound library size, the compound management market is segmented into small & medium libraries and large libraries. In 2021, large libraries segment dominates the market as they have more resources when it comes to identifying the compounds for screening and capital to invest on compound management equipment and services. Moreover, small libraries have limited need for automation, prefer traditional methods and have the small number of compound present for screening and development which do not need large automation.

On the basis of end user, the compound management market is segmented into pharmaceuticals companies, biopharmaceutical companies, contract research organizations, research and academic institutes and others. In 2021, pharmaceuticals companies dominates the market as this segment is focused on drug discovery and have to increase the pace work process for bringing the drugs to clinical trials pipelines for which they need laboratory and inventory automation which is provide by the compound management for support workflow in drug development.

On the basis of distribution channel, the compound management market is segmented into direct sales and third party distribution. In 2021, direct sales segment dominates the market as it is the most preferred mode and cost effective with the large product portfolio available on the company website and marketing pattern of the company.

Compound Management Market Country Analysis

The compound management market is categorized into seven notable segments which are based on the product & services, sample type, process, application, compound library size, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

The countries covered in the compound management market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Switzerland, Netherlands, Belgium, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Israel, Egypt and Rest of Middle East and Africa.

North America is expected to dominate the market due to the presence of the largest consumer market with high GDP. The North America region holds the majority of the share in the compound management market and is expected to witness the CAGR during the forecast period due to increasing involvement of AI in drug development workflow, increase in outsourcing compound management, trending bio banking scenario among other factors. China is expected to dominate in the market in the Asia-Pacific market. China is one of the leading countries in the world with rapidly increasing product usage and advancement in technology for automation and compound management. Europe is expected to grow with the most promising growth rate in the forecast period of 2021 to 2028 with increase in R&D activities in pharma and biotech sectors. Middle East and Africa is expected to grow with the substantial growth rate in the forecast period of 2021 to 2028 as Middle East and Africa counties are rising due to trend in software upgradation and biobanking in the region.

The country section of the compound management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

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Competitive Landscape and Compound Management Market Share Analysis

Compound management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to compound management market.

The major companies providing compound management market are HighRes Biosolutions, BioAscent, Titian Software Limited, LiCONiC AG, AXXAM S.p.A., SPT Labtech, TCG Lifesciences Private Limited, Specs Compound Handling B.V., Brooks Life Sciences (A division of Brooks Automation, Inc.), Tecan Trading AG, Hamilton Company, Evotec SE, Pharmaron, WuXi AppTec, and LABCYTE INC. among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately. Many product launch and agreement are also initiated by the companies' worldwide which are also accelerating the compound management market.

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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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