[118 Pages Report] Compound management is the storage and management of chemical libraries and biosamples used for drug discovery research and clinical purposes. This process comprises multiple steps, including sample acquisition, storage, reformatting, assay plate preparation, and retrieval of a compound/sample.

The market is projected to reach USD 424.5 million in 2023 from USD 215.3 million in 2018, at a CAGR of 14.5% during the forecast period. The growth of the market can be attributed to increasing drug discovery activities, the growing biopharmaceutical industry, and the rising trend in outsourcing compound/sample management.

�By sample type, the chemical compounds segment to account for the largest share during the forecast period.�

The rising drug discovery activity is leading to an increased demand for compounds, which is positively affecting market growth.

�By product & service, the outsourcing services segment is expected to register the highest CAGR during the forecast period.�

The outsourcing services segment is projected to register the highest CAGR during the forecast period. This high growth is due to the shift in trend towards outsourcing compound management to third-party service providers. These companies are experts in compound management and provide various services to pharmaceuticals, biopharmaceuticals, and CROs with regard to their compound storage needs, and are reasonably priced.

�By end-user, the pharmaceutical companies segment to account for the largest share in the compound/sample management products market.�

The rising drug discovery activity, coupled with increasing pharmaceutical companies, is the major factor driving the growth of the segment.

�North America to account for the largest share of the compound management market during the forecast period.�

The large share of North America is attributed to the presence of the large pharmaceutical and biopharma industry. As a result, several companies in North America are engaged in drug discovery activities, which require the maintenance of substantial chemical libraries. Moreover, to maintain the productivity of such innovative drugs and biologics, most of the leading pharma and biopharma companies have started building compound management facilities or contracting external service providers.

Market Dynamics

Driver: Growth of the biopharmaceutical industry

Biopharmaceuticals form the fastest-growing segment of the pharmaceutical industry. The growth of this sector will also support that of the sample management market, as increased biologic production will spur the demand for sample management. The growth of the biopharmaceuticals market is attributed to the increasing demand for biologics, the emergence of biosimilars, and increasing R&D expenditure in biopharmaceutical companies, as well as the increasing prevalence of chronic diseases. In addition, a focus on outsourcing functions to CROs and CMOs has allowed most biotech and biopharma companies to focus on core functions.

Restraint: Large capital investments required to establish compound management facilities

High capital investments are required to build a compound/sample management facility, including investment in both hardware and software, such as the installation of new automated liquid compound storage systems linked to a robust inventory database. The average cost of a large automated storage system, for example, ranges between USD 1 million and USD 10 million. The high capital requirements for setting up such facilities may put them out of reach for small or medium-size pharmaceutical companies. Research institutes with limited budgets also find it difficult to afford such instruments. As a result, the use of manual storage systems is still preferred among these end-users.

Opportunity :Expansion of pharma & biopharma manufacturing in emerging markets

Emerging markets such as India and China are expected to emerge as key hubs for pharma and biotech manufacturing. This can mainly be attributed to their low labor and raw material costs, rising life science research, government support, and technological integration and advancements. Governments of various Asian countries have been allocating large budgets to encourage research in the life sciences industry.

For instance, in 2014, the Indian government announced investments of up to USD 5 billion each year over the next five years to boost the biotechnology sector in the country. The Department of Biotechnology (DBT) and government-funded institutions like the National Biotechnology Board (NBTB) are working together to transform India into a global hub for biotechnology research.

Scope of the Report

Report Metric Details Market size available for years 2016�2023 Base year considered 2017 Forecast period 2018�2023 Forecast units USD million Segments covered Product & Service, Sample Type, End User and Region Geographies covered North America, Europe, APAC, and Rest of the World (RoW) Companies covered Brooks Automation (US), Hamilton Company (US), TTP Group (US), Labcyte (US), Biosero (US), and Tecan (Switzerland) Evotec (Germany), Wuxi AppTec (China), Icagen (US), TCG Lifescience (India), and Frontier Scientific (US)

The research report categorizes the global compound management market into the following segments and sub segments:

Compound Management Market, by Product & Service

Products Instruments Software

Outsourcing Services

Compound Management Market, by Sample Type

Chemical Compounds

Biosamples

Compound Management Products Market, by End User

Products

Services

Compound Management Market, by Region

North America

Europe

Asia Pacific

Rest of the World (RoW)

Key Market Players

Brooks Automation (US), Hamilton Company (US), TTP Group (US), Labcyte (US), Biosero (US)

Recent Developments

In 2018, Brooks Automation partnered with the Cleveland Clinic to open a new biobanking facility for Cleveland Clinic by utilizing Brooks' sample storage solutions.

In 2018, Brooks Automation acquired BioSpeciMan Corporation to expand its consumer base, sample management services offering, and geographic footprint.

In 2018, Tecan collaborated with DiaSorin to deploy its Tecan's Fluent Laboratory Automation Solution into its nucleic acid extraction platform.

In 2017, Biosero completed the expansion of its new facility and relocated headquarters, its corporate office, R&D center, and production facilities in San Diego, CA.

In 2016, Evotec signed a multi-year compound management agreement with Pierre Fabre Laboratories. Under the terms of the agreement, Evotec gained exclusive rights to manage Pierre Fabre's compound collection and compound management facility based at Toulouse, France.

Critical questions the report answers:

Where will all these developments take the compound management market in the long term?

What are the upcoming trends for the compound management market?

Which segment in the compound management market provides the most opportunity for growth?

Who are the leading vendors operating in the market?

What are the opportunities for new market entrants in the compound management market?

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