Europe Compound Management Market, By Product & Services (Compound/Sample Management Products, Outsourcing Services), Sample Type (Chemical Compounds, Biosamples), Process (High-Throughput Screening, Fragment Based Screening, Lead Optimization), Application (Drug Discovery, Preclinical Discovery, Gene Synthesis, Bio Banking, Others), Compound Library Size (Small & Medium Libraries, Large Libraries), End User (Pharmaceuticals Companies, Biopharmaceutical Companies, Contract Research Organizations, Research and Academic Institutes, Others), Distribution Channel (Direct Sales, Third Party Distributor), Country (Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe) Industry Trends and Forecast to 2028
Market Analysis and Insights: Europe Compound Management Market
The compound management market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 14.9% in the forecast period of 2021 to 2028 and is expected to reach USD 1,237.41 million by 2028. Upgradation of the software driven compound management and trending biobanking scenario are expected to be the key drivers for the compound management market.
Compound management is a process of managing a large-small compound library including updating the outdated chemical, information databases, robotic automation involved in inventory management and quality control of the storage environment. It includes storing, tracking, logistics, compound dispensing and preparation of compounds to be tested and analysed in drug discovery processes. The improper management leads to entering the wrong compound for research and testing, non-repetitive compound concentration has become the major focus for pharma and biotech companies.
The number of companies involved in drug development is investing in the artificial intelligence for promoting drug discovery services. This involvement will raise the interest of the AI driven drug discovery and compound management services and is expected to act as driver in the compound management market. A huge investment is needed for the facilities of laboratory automation to screening of the compound which is expected to act as a restraint for the compound management market. The rising need for development of automated management of pharma and biotech company can create opportunities for the compound management market. Technological advancement has augmented the biotech and pharma industry but it is also creating the gap between professionals and new automation services which is expected to be a challenge for the compound management market.
The compound management market report provides details of market share, new developments, and impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the compound management market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Compound Management Market Scope and Market Size
The compound management market is categorized into seven notable segments which are based on the product & services, sample type, process, application, compound library size, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product & services, the compound management market is segmented into compound/sample management products and outsourcing services. In 2021, compound/sample management products segment is dominating because they are crucial assets for compound management and needed for various functions.
- On the basis of sample type, the compound management market is segmented into chemical compounds and biosamples. In 2021, chemical compounds segment is dominating because they constitute significant share in all kinds of drug discovery including biopharmaceuticals.
- On the basis of process, the compound management market is segmented into high-throughput screening, fragment based screening and lead optimization. In 2021, high throughput screening segment is dominating as it has been the leading model of small molecule drug discovery for the biopharmaceutical industry.
- On the basis of application, the compound management market is segmented into drug discovery, preclinical discovery, gene synthesis, bio banking and others. In 2021, drug discovery segment is dominating as most of the companies are focused on investing the highest amount of capital in drug discovery as compared to other applications as it involves the identification of hits and lead candidates, chemical synthesis, characterization of the leads compound, screening, and assays for therapeutic efficacy of the final developed compound.
- On the basis of compound library size, the compound management market is segmented into small & medium libraries and large libraries. In 2021, large libraries segment is dominating as they have more resources when it comes to identifying the compounds for screening and capital to invest on compound management equipment and services.
- On the basis of end user, the compound management market is segmented into pharmaceuticals companies, biopharmaceutical companies, contract research organizations, research and academic institutes and others. In 2021, pharmaceuticals companies segment is dominating as this segment is focused on drug discovery and have to increase the pace work process for bringing the drugs to clinical trials pipelines for which they need laboratory and inventory automation which is provided by the compound management for support workflow in drug development.
- On the basis of distribution channel, the compound management market is segmented into direct sales and third party distributor. In 2021, direct sales segment is dominating as it is the most preferred mode and cost effective with the large product portfolio available on the company website and marketing pattern of the company.
Europe Compound Management Market Country Level Analysis
Europe compound management market is analysed and market size information is provided by the country, product & services, sample type, process, application, compound library size, end user and distribution channel as referenced above.
The countries covered in the Europe compound management market report are the Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium and rest of Europe.
Europe is expected to grow with the significant CAGR in the forecast period due to the growing R&D activities in pharma and biotech sector. Germany is expected to dominate in the Europe compound management market as Germany is one of the leading countries in automation with increasing number of upgradation of the software driven compound management.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Initiatives by Manufacturers is creating new opportunities for Players in the Compound Management Market
The compound management market also provides you with detailed market analysis for every country growth in compound management product sales, impact of advancement in the compound management and changes in regulatory scenarios with their support for the compound management market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Compound Management Market Share Analysis
The compound management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to compound management market.
The major companies which are dealing in the Europe compound management market report are Brooks Life Sciences (a division of Brooks Automation, Inc.), Tecan Trading AG, Evotec SE, Hamilton Company, Pharmaron, AXXAM S.p.A, BioAscent, HighRes Biosolutions, LiCONiC AG, Specs Compound Handling B.V., SPT Labtech, Titian Software Limited, WuXi AppTech among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the compound management market.
For instance,
- In Septemer 2020, SPT Labtech announced that they have acquired LBD Life Sciences, a leader in supplying instrument for drug discovery in China. With this collaboration, SPT Labtech extends its commercial reach into the rapidly growing Chinese life sciences research market.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the compound management which also provides the benefit for organisation to improve their offering for compound management market.
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