Increasing sample collection and storage, and drug discovery and development activities, and surging need for compound management outsourcing are expected to boost market growth.
Increasing sample collection and storage, and drug discovery and development activities, and surging need for compound management outsourcing are expected to boost market growth
The global compound management market size is expected to reach USD 1,212.9 million by 2028 and register a CAGR of 17% over the forecast period, according to a latest report by Reports and Data. Steady global market revenue growth is primarily attributed to increasing drug discovery and development programs worldwide, rise in sample storage and transportation activities, growing need for compound management outsourcing services, and expanding pharmaceutical and biotechnology sectors. Some other significant market growth-influencing factors are growing emphasis on outsourcing chemical and biological samples, increasing pharmaceutical R&D activities, rising focus on biobanking, and surge in research collaborations among universities and research institutes and pharmaceutical companies. However, inaccurate management and lack of expertise in compound management are some of the key factors expected to restrain global market revenue growth to some extent going ahead.
Download Report Sample PDF – https://www.reportsanddata.com/sample-enquiry-form/3959
Compound management, also known as compound control, refers to the advanced management of chemical libraries and various biological samples used in drug discovery and development. The key functions of compound management include collection, storage, monitoring, and quality preservation of compounds. Moreover, it renews outdated chemicals, manages robotics used to fetch chemicals, and maintains databases. Compound management ensures the safety, purity, shelf life, and integrity of compounds, and also helps obtain precise results in assays, experiments, and high-throughput screening. Surging adoption of automated compound management and storage systems and increased government funding for healthcare research & development activities are the other key factors driving market growth.
Some Key Highlights from the Report:
- Among the type segments, the products segment is expected to account for dominant revenue share contribution to the global compound management market over the forecast period. Rising demand for automated compound management and storage systems worldwide and optimal efficiency and reliability offered by these systems are some key factors fueling revenue growth of this segment.
- Among the application segments, the drug discovery segment accounted for dominant revenue share in the global compound management market in 2020. Robust revenue growth of this segment can be attributed to technological advancements in drug discovery and development techniques and considerable investments by governments worldwide in the pharmaceutical industry for drug discovery.
- The compound management market in Asia Pacific is projected to register the fastest revenue growth rate over the forecast period. Rise in drug development activities, rising prevalence of life-threatening and chronic diseases, increasing imports and exports of pharmaceutical drugs, and rising number of pharmaceutical and biotechnology companies in countries in the region are factors expected to drive Asia Pacific market growth.
- BioAscent, Beckman Coulter Inc., Evotec, Hamilton Company, Brooks Life Sciences, Titian Service Limited, LiCONiC Systems, TTP Labtech, AXXAM S.p.A., and Tecan are major companies operating in the global compound management
To know more about the report @ https://www.reportsanddata.com/report-detail/compound-management-market
For the purpose of this study, the global compound management market has been segmented based on type, sample type, application, end-use, and region:
By Type (Revenue, USD Million; 2018-2028)
- Products
- Automated Compound/Sample Storage Systems
- Automated Liquid Handling Systems
- Others
- Services
- Outsourcing Services
- Others
By Sample Type (Revenue, USD Million; 2018-2028)
- Chemical Compounds
- Biological Samples
- Others
By Application (Revenue, USD Million; 2018-2028)
- Drug Discovery
- BioBanking
- Gene Synthesis
- Others
By End-user (Revenue, USD Million; 2018-2028)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Research and Academic Institutes
- Contract Research Organizations (CROs)
- Others
Buy Premium Research Report @ https://www.reportsanddata.com/checkout-form/3959
By Region (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of the Middle East & Africa
Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/3959
Explore Latest Trending Research Reports By Reports and Data’s
Thoracic Stent Graft Market By Product Type (Hemodialysis Access Graft, Endovascular Stent Graft, Peripheral Vascular, Others), By Application (Cardiovascular Diseases, Cardiac Aneurysm, Kidney Failure, Others), and By Region Forecast to 2028
Phototherapy Equipment Market By Type (Conventional Phototherapy Equipment, Fiber-optic Phototherapy Equipment, LED-Based Phototherapy Equipment), By Application (Skin Disease Treatment, Neonatal Jaundice Management), By End-Use (Hospitals & Clinics, Home Users), and By Region Forecast to 2028
Latex Tourniquet Market Size, Share And Industry Analysis By Type (Manual and Pneumatic), By Application (Emergency Tourniquet and General Medical Tourniquet), and By Region Forecast to 2028
Syphilis Rapid Test Kit Market Size, Share And Industry Analysis By Type (Direct Bacteria Test and Serum Test), By End-Use (Diagnostic Centers, Home Use, and Hospitals), and By Region Forecast to 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-compound-management-market