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.
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
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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.
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Market Players Covered
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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.).
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Data Points Covered in the Report
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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.
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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.
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.
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.
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.).
Market Development
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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Global Compound Management Market – Industry Trends and Forecast to 2028
Asia-Pacific Compound Management Market – Industry Trends and Forecast to 2028
Europe Compound Management Market – Industry Trends and Forecast to 2028
Middle East and Africa Compound Management Market – Industry Trends and Forecast to 2028
North America Compound Management Market – Industry Trends and Forecast to 2028