Increase in R&D Activities in the Pharmaceutical and Biotech Sectors drives the demand for Compound Management Market

The world is changing with the availability of large number of options for treatment of diseases. This aspect is also getting benefited with the help of extensive research and development processes. The biotech and pharmaceutical companies are involved in testing, discovering, and developing new products. This drug development is a costly and time-consuming process for biotech and pharma firms. Compound management aids in advancing the R&D process by introducing chemical libraries with the amount of available material at a given place which will create an opportunity for the growth of the market.

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Data Bridge Market Research analyses that the compound management market is expected to reach USD 1644.23 million by 2030 from USD 541.26 million in 2022 growing with the healthy CAGR of 14.90% in the forecast period of 2023 to 2030. An increase in outsourcing compound management and strategic initiative to promote compound management system aids to increase the investment in compound management will expected to provide potential opportunities for the compound management market growth in the forecast period.

Compound Management Market

Increasing involvement of AI in drug development workflow is expected to drive the market's growth rate

The development of new drugs requires to follow a procedure of testing compounds that are often available in millions and involved in drug discovery set-ups. The cycle starts from the screening, automated compound management, onto lead development, which is also vital and has been on an evolutionary path.

The R&D process for a new drug has an achievement rate of 10% because it is extremely long, costly and challenging. Each drug discovery process takes an average of 10 to 15 years. Compound management in the field of drug development is the monitoring and management of several compound libraries to make the stage of high-throughput screening effective and feasible for lead identification. These compound management can be managed by involving artificial intelligence (AI) to drug discovery workflow, which can ease the drug development workflow.

 Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2021

Historic Years

2020 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product & Services (Compound/Sample Management Products and Outsourcing Services), Sample Type (Chemical Compounds and Biosamples), Process (High-Throughput Screening, Fragment Based Screening and Lead Optimization), Application (Drug Discovery, Preclinical Discovery, Gene Synthesis, Bio Banking and Others, Compound Library Size (Small & Medium Libraries and Large Libraries), End User (Pharmaceuticals Companies, Biopharmaceutical Companies, Contract Research Organizations, Research and Academic Institutes and Others), Distribution Channel (Direct Sales and Third Party Distribution)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

HighRes Biosolutions (U.S.), BioAscent (U.K.), Titian Software Limited (U.K.), LiCONiC AG (Germany), AXXAM S.p.A. (Italy), SPT Labtech (U.S.), TCG Lifesciences Private Limited (India), Specs Compound Handling B.V. (Netherland), Brooks Life Sciences (U.S.), Tecan Trading AG (Switzerland), Hamilton Company (U.S.), Evotec SE (Germany), Pharmaron (China), WuXi AppTec, (China) and LABCYTE INC (U.S.).

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

The compound management market is segmented on the basis of 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 2022, the compound/sample management segment of product & services segment is anticipated to dominate the compound management market

 Compound/sample management products segment is expected to dominate the market and is expected to reach USD 902.00 million by 2028 from USD 405.39million in 2022 because they are important assets for compound management and required for several functions. Furthermore, many companies prefer in-house equipment for research purposes. While, storage devices and laboratory automation are the strongest contributing factors because large number of compound management products are required in development processes and research workflow.

  • On the basis of sample type, the compound management market is segmented into chemical compounds and biosamples. Chemical compounds is expected to dominate the market and is expected to reach USD 307.94 million in 2022 because these constitutes have significant share in all type of drug discovery comprising biopharmaceuticals. The chemical compounds are used as reagents in reactions for development of workflow irrespective of the field of research. The contribution of chemical samples attribute to the usage of high percent of 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. High-throughput screening is expected to dominate the market and is expected to reach USD 410.12 million in 2022 because it has been the important model of small molecule drug discovery for the biopharmaceutical sector. Companies have capitalized more than one million compounds in process automation, hardware 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. Drug discovery is expected to dominate the market and is expected to reach USD 364.56 million in 2022. Most of the companies are concentrated on investing high amount of capital in drug discovery as compared to other applications because it involves the identification of hits and lead candidates, characterization of the leads compound, chemical synthesis, assays and screening 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. Large libraries is expected to dominate the market and is expected to reach USD 922.62 million by 2028 from USD 412.51 million in 2022 because they have more resources when it comes to classifying the compounds for screening and capital to invest on compound management services and equipment.
  • 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 2022, the pharmaceuticals companies segment of end user segment is anticipated to dominate the compound management market

Pharmaceuticals companies is expected to dominate the market and is expected to reach USD 212.10 million in 2022 because  this segment is highly focused on drug discovery and have to upsurge the pace work process for bringing the drugs to clinical trials pipelines. As a result, they need inventory and laboratory automation which provides 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. Direct sales segment is expected to dominate the market and is expected to reach USD 438.28 million in 2022 because  it is the most recommended mode and cost effective with the huge product portfolio which is available on the company website and also the marketing pattern of the company.

Major Players

Data Bridge Market Research recognizes the following companies as the major compound management (BPaaS) market players in compound management market HighRes Biosolutions (U.S.), BioAscent (U.K.), Titian Software Limited (U.K.), LiCONiC AG (Germany), AXXAM S.p.A. (Italy), SPT Labtech (U.S.), TCG Lifesciences Private Limited (India), Specs Compound Handling B.V. (Netherland), Brooks Life Sciences (U.S.).

Compound Management Market

Market Development

  • In November 2020, Pharmaron announced that it has acquired 100% of the equity of Absorption system, which is a leading medical service provider and biotech company. It surges the market share of the China-based company in the U.S. region using the laboratory facility of the acquired company and increases their company’s share and global presence of the company.

Regional Analysis

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

As per Data Bridge Market Research analysis:

North America is the dominant region in compound management market during the forecast period 2023 to 2030

North America dominates the compound management market due to the large number of biotechnology and pharmaceutical firms are involved in drug discovery in this region. Furthermore, the growing involvement of artificial intelligence (AI) in drug development workflow, rise in outsourcing compound management, trending bio banking scenario are some of the major factors which will likely to boost the growth rate of the market.

Asia-Pacific is estimated to be the fastest-growing region in compound management market the forecast period 2023 to 2030

Asia-Pacific is expected to grow from 2023 to 2030 due to the low cost of outsourcing compound management services and the high prevalence of infectious and chronic diseases in this region. Furthermore, China is anticipated to dominate in the Asia-Pacific market because China is one of the leading countries in the Asia-Pacific with rapidly growing advancement in technology and product usage for automation and compound management.

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