The global Compound Management Market size is expected to reach USD 1.49 billion by the end of 2030, expanding at a CAGR of 15.6%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical industry and biobanking 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 to avoid photodegradation, can help
ensure consistency and longevity of samples.
Compounds of high integrity lead to reliable results
while locating drug candidates. Moreover, the collection, storage, and
distribution of human biological samples support the development of the R&D
industry. In addition, it aids to understand the mechanisms of diseases as well
as supports 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, which enables the 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 a
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.
Related Press Release@ Compound Management Market Report
Compound Management
Market Report Highlights
- 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
- Based on sample type, chemical compounds dominated the market in
2018 with the largest share of 53.0% due to the increasing drug discovery
activities, resulting in an increased demand for compounds and positively
affecting the compound management market growth
- The biobanking segment is anticipated to exhibit the fastest CAGR
of 17.1% over the forecast period. There has been increasing 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 for 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., and TTP Labtech, TCG Lifesciences Private Limited,
WuXi AppTec, and HDC GmbH.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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