Compound Management Market Business Strategies 2030

Written by Harsh » Updated on: November 13th, 2024

According to the Market Statsville Group (MSG), the Global Compound Management Market size is expected to grow from USD 498.8 million in 2022 to USD 2,388.0 million by 2033, at a CAGR of 15.3% from 2023 to 2033.

Compound Management is defined as the management of chemical libraries. It includes restoring obsolete chemicals, databases containing data, robotic technology frequently engaged in retrieving chemicals, and quality control related to the storage environment. The chemicals are physically stored in a chemical library or libraries, frequently assembled from outside vendors and internal chemical synthesis efforts. Each chemical in the storage bank and its banked location must be monitored for shelf life, quantity, purity, and other parameters. Compounds used in research begin their journey in the collection, then are stored, processed, and finally reach the research labs for drug development.

Global Compound Management Market Definition

Compound management is expected to drive the market in the coming years due to rising demand for chemical and biologic outsourcing and growth in the biobanking sector. In addition, rising drug delivery projects and drug discovery activities are expected to boost the market in the coming years. Furthermore, rising market expertise collaboration and acquisition and rising investment in compound management research and development are expected to fuel the market during the forecasted period. Certain constraints and challenges can impede the market growth. High investment costs and a scarcity of skilled professionals are likely to act as market restraints.

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Global Compound Management Market Dynamics

Drivers: Growth of The Biopharmaceutical Industry

The growth of this industry will also help the sample management market since the demand for sample management will rise as biological output rises. The market for biopharmaceuticals is expanding due to an increase in the demand for biologics, the development of biosimilars, rising R&D spending by biopharmaceutical companies, and an increase in the prevalence of chronic diseases. Furthermore, most biotech and biopharma companies have concentrated on core activities by outsourcing tasks to CROs and CMOs.

Scope of the Global Compound Management Market

The study categorizes the compound management market based on product & service, sample type and end-user at regional and global levels.

By Product & Service Outlook (Sales, USD Million, 2019-2033)

Products

Instruments

Software

Outsourcing Services

By Sample Type Outlook (Sales, USD Million, 2019-2033)

Chemical Compounds

Biosamples

By End-User Outlook (Sales, USD Million, 2019-2033)

Pharmaceutical Companies

Biopharmaceutical Companies

Contract Research Organizations

Others

By Region Outlook (Sales, USD Million, 2019-2033)

North America

Canada

Mexico

Europe

Germany

Italy

France

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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North America accounts for the largest market share by Region

Based on the regions, the global compound management market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America will have the largest market share due to the presence of a large pharmaceutical and biopharma industry. Leading pharmaceutical and biopharma companies have started to construct compound management facilities to maintain the productivity of novel drugs and biologics. As a result, such market trends are likely to assist North America is dominating the overall market.

Competitive Landscape - Global Compound Management Market

The global compound management market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global compound management market are:

Beckman Coulter Inc

Brooks Life Sciences

Evotec

Icagen Inc

TCG Lifesciences Pvt Limited

SPT Labtech

Company 7

Company 8

Company 9

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