The report "Compound Management Market by Product &
Outsourcing Services (Instruments (Automated Storage, Decapper), Software),
Sample (Chemical Compounds, Biological Samples), End User (Biopharma Companies,
Biobank, Pharma Companies, CRO) - Global Forecast to 2023", The global
compound management market is projected to reach USD 424.5 million in 2023 from
USD 215.3 million in 2018, at CAGR of 14.5%. Increasing drug discovery
activities, the growing biopharmaceutical industry, and the rising trend in
outsourcing compound/sample management are the major factors driving the growth
of the market.
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Based on product and service, the outsourcing services
segment is expected to grow at the highest CAGR in the market during the
forecast period
On the basis of product & service, the market is broadly
segmented into products (instruments & software) and outsourcing services.
The outsourcing service segment is expected to grow at the highest CAGR in the
global compound management market. This can be attributed to the shift in trend
towards outsourcing compound management to third-party service providers. These
companies are experts in compound management and provide various services to
pharmaceuticals, biopharmaceuticals, and CROs with regard to their compound
storage needs, and are reasonably priced.
Based on sample type, the chemical compounds segment is
expected to account for the largest share of the market in 2018
On the basis of sample type, the global compound management
market is divided into chemical compounds and biosamples. In 2018, the chemical
compounds segment is expected to account for the largest share of the compound
management market. The rising drug discovery activity is leading to an
increased demand for compounds which is positively affecting the market growth.
North America is expected to account for the largest
share of the market in 2018
Among the four geographic regions, North America is expected
to account for the largest share of the compound management market in 2018,
followed by Europe, APAC, and the RoW. The large share of North America is
attributed to the presence of the large pharmaceutical and biopharma industry.
As a result, several companies in North America are engaged in drug discovery
activities, which require maintenance of huge chemical libraries. Moreover, to
maintain productivity of such innovative drugs and biologics, most of the
leading pharma and biopharma companies have started building compound
management facilities.
Market Players
The compound management market is highly competitive due to
the presence of a large number of players. Few companies that provide compound
management systems are Brooks Life Sciences (US), Hamilton Company (US), TTP
Group (UK), Labcyte (US), Biosero (US), and Tecan (Switzerland).
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