Compound Management Market Forecast and Growth 2031

Compound Management Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product & Services (Compound/Sample Management Products and Services), Sample Type (Chemical Compounds and Biosamples), Application (Drug Discovery, Gene Synthesis, and Biobanking), and End User (Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations (CROs), and Others), and Geography

  • Report Code : TIPRE00004479
  • Category : Biotechnology
  • No. of Pages : 150

Compound Management Market | Size and Share [2021-2031]

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The Compound Management Market size is projected to reach US$ 950.14 million by 2031 from US$ 369.1 million in 2023. The market is expected to register a CAGR of 14.20% in 2023–2031. Increasing outsourcing activities related to compound management and the growing biobanking or biopharmaceutical industry are fueling the compound management market. The management of chemical libraries, includes databases and restoring outdated chemicals, updating chemical information etc is in high demand. Compound management also involves effectively maintaining chemical libraries and biological samples to improve the overall safety, purity, shelf life, and other critical aspects of samples which is a boosting factor for market growth.

Compound Management Market Analysis

Increasing R&D activities related to compound management is one of the major factors driving market growth. Rising research and development (R&D) efforts and increasing number of R&D pipeline is another key propelling factor. For instance,  the R&D pipeline includes 22,000 drugs in 2023, while in 2022, the number of drugs in the pipeline was approximately 20,109 as per the data retrieved from Pharma Annual Review 2022. Additionally, compound libraries (collections of various chemical compounds) are in higher demand in the pharmaceutical and biotechnology industries due to rising R&D activities. These libraries offer tools for screening and identifying prospective drug candidates. Hence, with rising R&D and adoption of compound libraries market growth of compound management is further expected to augment in the near future.

Compound Management Market Overview

North America is the largest market for Compound Management market growth with the US holding the largest market share followed by Canada. The North American compound management market is driven by the large pharmaceutical and biopharma industry. North American pharmaceutical companies are engaged in drug discovery activities, and it need maintenance of huge chemical libraries. Therefore, to maintain the productivity of advanced drugs and biologics, major pharma and biopharma companies have started building compound management facilities. Thus, this factor is anticipated to fuel the overall market growth.

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Compound Management Market: Strategic Insights

Compound Management Market
  • CAGR
    CAGR (2023 - 2031)
    14.20%
  • Market Size 2023
    US$ 369.1 Million
  • Market Size 2031
    US$ 950.14 Million

Market Dynamics

GROWTH DRIVERS
  • Growing drug discovery activities globally
FUTURE TRENDS
  • Rising biobanking sector
OPPORTUNITIES
  • Increasing demand for outsourcing compound management services

Key Players

  • WuXiAppTec
  • Evotec
  • Icagen
  • TCG Life Sciences
  • TTP LabTech
  • Hamilton Company
  • Tecan Trading
  • Brooks Life Sciences

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentProduct & Services
  • Compound/Sample Management Products
  • Services
Market SegmentSample Type
  • Chemical Compounds and Biosamples
Market SegmentApplication
  • Drug Discovery
  • Gene Synthesis
  • Biobanking
Market SegmentEnd User
  • Pharmaceutical Companies
  • Biopharmaceutical Companies
  • Contract Research Organizations
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Compound Management Market Drivers and Opportunities

Rising Demand for Biologics and Accelerating Drug Discovery Favors the Market

Robust pharmacovigilance systems are critical to address the complexity of safety data and challenges in detecting Adverse Drug Reaction (ADRs), for both innovator biologics and biosimilars. Additionally, drug discovery process and development of a compound is a costly, lengthy, and complicated process and requires various advanced techniques. Screening process such as High throughput screening is screens a large number of compounds with a biological target. Hence, rising drug discovery activities is further expected to boost the market growth of compound management.

Expanding Biopharma and Pharma Companies in Developing Countries– An Opportunity in the Compound Management Market

Developing countries serves as a key hub for Pharmaceutical and biotechnology companies as these countries offers low labor cost and raw material cost. There has been increasing demand for compound management in Asian countries due to the above mentioned factors. Moreover, rising funding and budgests from these companies focused on compound management. Low cost outsourcing compound management services in the developing countries coupled with rising prevalence of chronic and infectious diseases iis further creating an opportunity for market to grow over the forecast period.

Compound Management Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Compound Management market analysis are product and services, sample type, application, and end user.

  • Product & Services (Compound/Sample Management Products and Services), Sample Type (Chemical Compounds and Biosamples), Application (Drug Discovery, Gene Synthesis, and Biobanking), and End User (Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations (CROs), and Others)
  • Based on the product and services, the Compound Management market is segmented into Services and Compound/Sample Management Products. The Compound/Sample Management Products held a larger market share in 2023.
  • By application, the market is segmented into Drug Discovery, Gene Synthesis, and Biobanking. The drug discovery held the major market share in the year 2023.
  • Based on end users, the market is segmented into Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations (CROs), and Others. The pharmaceutical companies held the major market share in the year 2023.

Compound Management Market Share Analysis by Geography

The geographic scope of the Compound Management Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America dominated the Compound Management Market. The market growth of compound management can be attributed to increasing efforts in R&D activities by pharmaceutical companies as well as the presence of biopharma and pharmaceutical companies operating in the market. In addition, technological advancements in the drug discovery process are likely to be a major growth stimulator for the compound management market in North America.

Compound Management  Market Report Scope

Report Attribute Details
Market size in 2023 US$ 369.1 Million
Market Size by 2031 US$ 950.14 Million
Global CAGR (2023 - 2031) 14.20%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Product & Services
  • Compound/Sample Management Products
  • Services
By Sample Type
  • Chemical Compounds and Biosamples
By Application
  • Drug Discovery
  • Gene Synthesis
  • Biobanking
By End User
  • Pharmaceutical Companies
  • Biopharmaceutical Companies
  • Contract Research Organizations
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • WuXiAppTec
  • Evotec
  • Icagen
  • TCG Life Sciences
  • TTP LabTech
  • Hamilton Company
  • Tecan Trading
  • Brooks Life Sciences
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Compound Management Market News and Recent Developments

The Compound Management Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Compound Management:

  • SPT Labtech announced the acquisition of BioMicroLab, a robotics automation provider, to strengthen its capabilities in automatic sample management. (Source: SPT Labtech, Press Release/Company Website/Newsletter, February 2021)
  • Ziath, a leading sample/compound management solutions provider, introduced a new software called Datapaq 3.18 that runs the Acoustix module on a Cube, Mirage, or Express tube, reader. The product is compatible with Labcyte Echo, the latest generation of acoustic dispensers. It offers higher speed and efficiency than many other tube readers available. (Source: Ziath, Press Release/Company Website/Newsletter, December 2020)
  • A leading software company for automated processes and laboratory connection Biosero was acquired by BICO. BICO spends up to $20 million over three years to accelerate Biosero’s commercial agenda to expand into new geographical markets and fully maximize on current order pipeline. (Source: Bico, Press Release/Company Website/Newsletter, December 2020)

 

Compound Management Market Report Coverage and Deliverables

The “Compound Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Market dynamics such as drivers, restraints, and key opportunities
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
  • Detailed company profiles
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Product & Services, Sample Type, Application, and End User

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

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