Asia-Pacific Compound Management Market, By Product & Services (Compound/Sample Management Products, Outsourcing Services), Sample Type (Chemical Compounds, Biosamples), Process (High-Throughput Screening, Fragment Based Screening, Lead Optimization), Application (Drug Discovery, Preclinical Discovery, Gene Synthesis, Bio Banking, Others), Compound Library Size (Small & Medium Libraries, Large Libraries), End User (Pharmaceuticals Companies, Biopharmaceutical Companies, Contract Research Organizations, Research and Academic Institutes, Others), Distribution Channel (Direct Sales, Third Party Distributor), Country (Japan, China, Australia, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
The 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. Upgradation of the software driven compound management and trending biobanking scenario are expected to be the key drivers for the compound management market.
Compound management is a process of managing a large-small compound library including updating the outdated chemical, information databases, robotic automation involved in inventory management and quality control of the storage environment. It includes storing, tracking, logistics, compound dispensing and preparation of compounds to be tested and analysed in drug discovery processes. The improper management leads to entering the wrong compound for research and testing, non-repetitive compound concentration has become the major focus for pharma and biotech companies.
The number of companies involved in drug development is investing in the artificial intelligence for promoting drug discovery services. This involvement will raise the interest of the AI driven drug discovery and compound management services and is expected to act as driver in the compound management market. A huge investment is needed for the facilities of laboratory automation to screening of the compound which is expected to act as a restraint for the compound management market. The rising need for development of automated management of pharma and biotech companies can create opportunities for the compound management market. Technological advancement has augmented the biotech and pharma industry but it is also creating the gap between professionals and new automation services which is expected to be a challenge for the compound management market.
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.
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.
- 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 segment is 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 segment is 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 segment 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 segment is dominating 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 is dominating 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 segment is dominating 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 distributor. In 2021, direct sales segment is dominating 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 Level Analysis
The compound management market is analysed and market size information is provided by the country, product & services, sample type, process, application, compound library size, end user and distribution channel as referenced above.
The countries covered in the compound management market report are the Japan, China, India, South Korea, Australia, Singapore, Indonesia, Philippines, and Rest of Asia-Pacific.
Asia-Pacific is expected to grow with the highest CAGR in the forecast period as in the Asia-Pacific’s countries demand for compound management product is increasing very rapidly with the urbanization and laboratory automation. China is expected to dominate in the market as China is one of the leading countries to inculcate compound management market.
The country section of the 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.
Strategic Initiatives by Manufactures is Creating New Opportunities for Players in the Compound Management Market
The compound management market also provides you with detailed market analysis for every country growth in compound management product sales, impact of advancement in the compound management and changes in regulatory scenarios with their support for the compound management market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Compound Management Market Share Analysis
The 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 are Titian Software Limited, LiCONiC AG, 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, and WuXi AppTec among other domestic and global players. 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.
- In September 2020, BioAscent has invested an amount of USD 1.1 million for the expansion of its compound management and drug discovery in instrument and equipment’s. This will enhance the deliver the highest quality research, cost-effectively for the clients and increase the client attraction towards their compound management services.
- In January 2018, Genedata AG, HighRes Biosolutions, and Titian Software Limited announced to collaborate with their Cellario, Mosaic, and Gene Screener under a partnership which provides seamless solution that automates iterative drug discovery processes with designing, planning, testing, and analysis of data. . This partnership will drive the market for the product and help them in business expansion in future.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the compound management which also provides the benefit for organisation to improve their offering for compound management market.