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Compound Management Market Size Worth $885.9 Million In 2026: Grand View Research, Inc.
SAN FRANCISCO, Nov. 18, 2019 /PRNewswire/ -- The global compound management market size is expected to reach USD 885.9 million by the end of 2026, expanding at a CAGR of 16.7%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical industry and bio banking sector is fueling the market growth. The growth of translational research and personalized medicine is driving the market.
Efficient compound management is tremendously important for the success of drug discovery, where traceability, reliability, speed, and throughput are fundamental. Maintaining samples at the precise temperature, under nitrogen or dry air to prevent fluctuations of stock concentrations, and in a dark environment in order to avoid photo degradation, can help ensure consistency and longevity of samples.
Key suggestions from the report:
- The automated compound/sample storage systems segment was the largest in 2018 accounting for 45.2% of the market share. This is attributed to the fact that it eliminates or reduces error and saves time
- On the basis of sample type, chemical compounds dominated the market in 2018 with a largest share of 53.0% due to the increasing drug discovery activities, resulting in an increased demand for compounds and positively affecting thecompound management market growth
- The bio banking segment is anticipated to exhibit the fastest CAGR of 17.1% over the forecast period. There has been increase in the number of organizations involved in the collection and storage of human biomaterials in line with the increasing use of human biomaterials in research as a replacement to animal models. It is anticipated to support the market growth
- North America led the market owing to the presence of large biopharmaceutical companies engaged in drug discovery and require huge maintenance of chemical libraries. Thus, to maintain the productivity of such biologics and drugs, most of the leading biopharma and pharma companies have started building storage facilities
- Some of the players operating in the market are Tecan, Roche, Brooks Life Sciences, Evotec, Hamiltons, BioAscent, Titian Software Limited, AXXAM S.p.A., TTP Labtech, TCG Lifesciences Private Limited, WuXi AppTec, and HDC GmbH.
Read 120 page research report with ToC on "Compound Management Market Size, Share & Trends Analysis By Type (Product, Services), By Sample Type, By Application (Drug Discovery, Gene Synthesis), By End Use, By Region, And Segment Forecasts, 2019 - 2026'' at: https://www.grandviewresearch.com/industry-analysis/compound-management-market
Compounds of a high integrity lead to reliable results while locating drug candidates. Moreover, the collection, storage, and distribution of human biological samples supports the development of the R&D industry. In addition, it aids to understand the mechanisms of diseases as well as support the trend to provide personalized medicines.
Automated storage systems eliminate or reduce the risks and provide reliable and correct environmental conditions to protect samples from precipitation or degradation. A management system like Verso tracks sample data, including location and type, enables quick and easy finding of the sample. The fully automated systems improve the process of drug discovery by eliminating error-prone and time-consuming tasks.
North America dominated the market in 2018 owing to strong base of biotechnology and pharmaceutical companies in the region. These companies are involved in drug discovery activities, which, in turn, led to the growth of the market in the region. The Asia Pacific market is anticipated to grow fast over the forecast period. This is attributed to ongoing studies in private-public collaborations, drug discovery, and government initiatives in the region.
Grand View Research has segmented the global compound management market based on type, sample type, application, end use, and region:
- Compound Management Type Outlook (Revenue, USD Million, 2015 - 2026)
- Automated Compound/Sample Storage Systems
- Automated Liquid Handling Systems
- Other Compound/Sample Storage Systems
- Compound Management Sample Type Outlook (Revenue, USD Million, 2015 - 2026)
- Chemical Compounds
- Bio Samples
- Compound Management Application Outlook (Revenue, USD Million, 2015 - 2026)
- Drug Discovery
- Gene Synthesis
- Bio Banking
- Compound Management End Use Outlook (Revenue, USD Million, 2015 - 2026)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
- Others (Research and Academic Institutes)
- Compound Management Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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