Compound Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 14.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Compound Management Market Analysis
The compound management market is expected to register a CAGR of nearly 14.7% during the forecast period.
During the COVID-19 pandemic, most vaccines and drugs were in the pipeline. COVID-19 vaccines gained considerable importance even after the decline in cases. The fear of the emergence of a new variant of COVID-19 increased the demand for vaccines. Thus, a significant number of drug manufacturers began developing COVID-19 vaccines. According to Clinicaltrials.gov, as of May 31, 2022, over 1,112 vaccines were under development for COVID-19. This is likely to improve the demand for compound management for COVID-19 vaccines.
Increasing drug discovery activities, growth in the pharmaceutical and biotechnology industries, and increasing demand for outsourcing these services are key factors driving the market. The drug pipeline has seen a visible surge in the last few years. According to Pharma R&D annual review 2022, the R&D pipeline consisted of 17,737 drugs in 2020, while in 2022, the number of drugs in the pipeline rose to 20,109. The growing drug pipeline is expected to create opportunities for the market. During the COVID-19 pandemic, most vaccines and drugs were in the pipeline. However, according to the Pharma R & D annual review 2022, biotechnology and anticancer drugs were the major ones in the pipeline. The pipeline for these drugs is expected to improve during the forecast period due to the high demand for biotechnology and anticancer drugs globally. This is expected to increase the demand for compound management of biotechnology and anticancer drugs during the forecast period.
Companies are collaborating and leveraging expertise more frequently, which is expected to drive the market. Organizations are forming and expanding strategic alliances with numerous academic institutions, venture capitalists, and other private or public companies to support drug discovery. Growing drug discovery collaborations between public and private entities are expected to boost the global demand for compound management services. For instance, in January 2022, the pharmaceutical company AstraZeneca expanded its AI-powered drug discovery partnership with BenevolentAI to discover drugs for diseases such as systemic lupus erythematosus and heart failure. Such partnerships are likely to be profitable for the market. However, the high cost of compound management may hamper business growth in the forecast period.
Compound Management Market Trends
This section covers the major market trends shaping the Compound Management Market according to our research experts:
The Automated Storage Systems Segment is Expected to Dominate the Market Over the Forecast Period.
The automated storage systems segment is expected to exhibit lucrative growth over the forecast period owing to increasing demand for automation to manage compounds and libraries. Benefits offered by this product, such as enhanced overall reliability and efficiency, allow users to focus on high-value activities. Novel systems also provide the flexibility required for smaller companies to benefit from the integration of the system, eventually increasing the market for automated storage systems. Technological advancements in automated storage systems are also projected to bolster market growth. For instance, the Verso automated storage system offers a range of adaptable configurations, comprising an entry-level Verso SE series to suit the changing needs of compound storage.
Plate stamping, compound tracking, and reformatting can all be accomplished using an automated liquid handler and compound store equipment. As per the National Library of Medicine, in September 2021, automated storage systems improved overall efficiency and reliability, allowing users to focus on high-value activities. Many updated processes include the complete integration of storage systems with sample processing workstations that have pipetting robots. Smaller businesses can also benefit from system integration with novel systems. The Verso automated storage system, for example, offers a variety of adjustable configurations to meet the changing needs of compound storage.
The North American Region Dominates the Market and is Expected to Continue the Same During the Forecast Period.
North America dominates the global compound management market in terms of revenue share due to the strong base of biotechnology and pharmaceutical companies that are involved in drug discovery activity. Thus, there is an increasing demand for products and services in this region. Moreover, the increase in disease-related mortality and morbidity has led to the discovery of more drug candidates, thereby augmenting the growth in this region. Approximately 5,000-10,000 chemical compounds in the US undergo laboratory screening before being used on humans. Out of these compounds, about 250 enter preclinical testing, and five begin with the clinical trial. Such rising drug discovery activities are expected to create a demand for compound management products worldwide. For instance, Evotec has five compound management teams in Europe and the United States. Together, Evotec's global compound management sites can store over 13 million compounds at different temperatures and process and deliver more than 45 million compounds annually.
NExT Diversity Libraries contain chemical scaffolds across ten commercial suppliers and compounds selected to fall within the boundaries of drug-like chemical space (e.g., Lipinski's rule of five, high QED scores). They mainly were identified as novel modulators for the drug target application. Commercially available chemical libraries help validate HTS-amenable assays and identify potential small molecule controls. They are used in assay validation and control compound identification.
Compound Management Industry Overview
The compound management market is moderately competitive in nature. Various companies are striving to gain market share by adopting competitive strategies such as joint ventures and research partnerships. Some key players operating in the market include Brooks Life Sciences, Tecan, Hamilton Company, BioAscent, Titian Service Limited, Evotec, Beckman Coulter Inc., LiCONiC systems, AXXAM SpA, and TTP Labtech.
Compound Management Market Leaders
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Brooks Life Sciences
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Titian Software Limited
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Beckman Coulter, Inc
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Hamilton Company
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Evotec
*Disclaimer: Major Players sorted in no particular order
Compound Management Market News
- February 2021: SPT Labtech announced the acquisition of BioMicroLab, a robotics automation provider, to strengthen its capabilities in automatic sample management.
- December 2020: 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.
Compound Management Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Drug Discovery Activities
- 4.2.2 Growth in the Bio-pharmaceutical Industry
- 4.2.3 Technological Advancement and Favorable Reimbursement
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4.3 Market Restraints
- 4.3.1 High Cost Associated with Compound Management
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Product
- 5.1.1.1 Automated Compounds/Sample Storage Systems
- 5.1.1.2 Automated Liquid Handling Systems
- 5.1.1.3 Other Compounds/Sample Storage Systems
- 5.1.2 Service
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5.2 By Sample Type
- 5.2.1 Chemical Compounds
- 5.2.2 Bio Samples
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5.3 By Application
- 5.3.1 Drug Discovery
- 5.3.2 Gene Synthesis
- 5.3.3 Bio Banking
- 5.3.4 Other Applications
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 AXXAM SpA
- 6.1.2 Beckman Coulter Inc.
- 6.1.3 BioAscent
- 6.1.4 Brooks Life Sciences
- 6.1.5 Evotec
- 6.1.6 Hamilton Company
- 6.1.7 LiCONiC AG
- 6.1.8 SPT Labtech
- 6.1.9 Tecan Trading AG
- 6.1.10 Titian Software Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Compound Management Industry Segmentation
Compound management, also referred to as compound control, is defined as the management of chemical libraries, including renewal of outdated chemicals, databases containing the information, robotics often involved in fetching chemicals, and quality control of the storage environment.
The Compound Management Market is Segmented by Type (Product (Automated Compounds/Sample Storage Systems, Automated Liquid Handling Systems, Other Compounds/Sample Storage Systems), Service), Sample Type (Chemical Compounds, Bio Samples), Application (Drug Discovery, Gene Synthesis, Bio Banking, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The study also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value in USD million for the above segments.
| By Type | Product | Automated Compounds/Sample Storage Systems |
| Automated Liquid Handling Systems | ||
| Other Compounds/Sample Storage Systems | ||
| By Type | Service | |
| By Sample Type | Chemical Compounds | |
| Bio Samples | ||
| By Application | Drug Discovery | |
| Gene Synthesis | ||
| Bio Banking | ||
| Other Applications | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Compound Management Market Research FAQs
What is the current Compound Management Market size?
The Compound Management Market is projected to register a CAGR of 14.70% during the forecast period (2024-2029)
Who are the key players in Compound Management Market?
Brooks Life Sciences , Titian Software Limited , Beckman Coulter, Inc , Hamilton Company and Evotec are the major companies operating in the Compound Management Market.
Which is the fastest growing region in Compound Management Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Compound Management Market?
In 2024, the North America accounts for the largest market share in Compound Management Market.
What years does this Compound Management Market cover?
The report covers the Compound Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Compound Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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