Middle East and Africa 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 (South Africa, Saudi Arabia, UAE, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Compound Management Market
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 from USD 409.98 million in 2020.
Upgradation of the software driven compound management and trending biobanking scenario are the key drivers of the market for global compound management market.
Compound management is a process of managing a large-small compound library, including updating the outdated chemical, information databases, robotic automation involve in inventory management, and quality control of the storage environment.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 analyzed 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.
Automated liquid handling instruments, sample storage, compound dispensation system, compound quality control, weighing system, software, and outsourcing services are the most commonly used compound management and services. The increasing involvement of artificial intelligence (AI), increase in research and development activity in the pharma and biotech sector, rise in outsourcing compound management, trending bio banking scenarios are expected to drive the compound management market growth.
The demand for the compound management market has been increased in both developed as well as in developing countries and the reason behind this is the increase in research and development across the globe for which compound management is used to increase the pace of workflow and overcome the bottle neck of the drug development process. The compound management market is growing due to the up-gradation of software driven compound management, increase in outsourcing compound management and rising disposable income. The market will grow in the forecasted period due to the exploration of emerging markets, a strategic initiative to promote a compound management system and increasing automated pharmaceutical workflow.
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 market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Compound Management Market Scope and Market Size
Global compound management market is categorized into seven notable segments which are based on product & services, sample type, process, application, compound library size, end user and distribution channel.
- 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 are dominating in the compound management market because they are crucial assets for compound management and needed for various functions. Moreover, most companies prefer in-house equipment for research purposes. Although, laboratory automation and storage devices are the strongest contributing factors, a large number of compound management products are required in research workflow and development processes.
- On the basis of sample type, the compound management market is segmented into chemical compounds and biosamples. In 2021, chemical compounds are dominating the market because they constitute significant share in all kinds of drug discovery including biopharmaceuticals. The chemicals are used as reagents or in reactions for development workflow irrespective of the field of research. The involvement of chemical samples attribute to the high percent of using chemical compounds in the compound management market.
- 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 is dominating the market as it has been the leading model of small molecule drug discovery for the biopharmaceutical industry. Companies have invested more than one million compounds in hardware (liquid storage, robotics and read-out technologies), process automation, and large compound collections in over two to three decades.
- 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 dominates the market as most 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 dominates the market as they have more resources when it comes to identifying the compounds for screening and capital to invest on compound management equipment and services. Moreover, small libraries have limited need for automation, prefer traditional methods and have the small number of compound present for screening and development which do not need large automation.
- 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 dominates the market 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 provide 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 distribution. In 2021, direct sales segment dominates the market 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.
Compound Management Market Country Level Analysis
The compound management market is analysed and market size information is provided by product & services, sample type, process, application, compound library size, end user and distribution channel.
The countries covered in the compound management market report are the South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa.
South Africa is expected to dominate in the market in the Middle East and Africa market. Middle East and Africa is expected to grow with the substantial growth rate in the forecast period of 2021 to 2028 as Middle East and Africa counties are major developing countries and focus on increasing R&D activities in pharma and biotech sector and increase outsourcing services.
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 global 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 manufactures is Creating New Opportunities for Players in the Compound Management Market
Compound management market also provides you with detailed market analysis for every country growth in compound management product sales, impact of advancement in the research and development with 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
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 approvals, patents, product width and breath, 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 providing compound management are Hamilton Company and WuXi AppTech, among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the compound management market.
- In February 2018, LABCYTE INC., with the collaboration with AstraZeneca partnered with the Brooks Life Sciences for the development and product launch for FluidX Acosutic X Sample tube. The partnership with these major players will increase company’s global presence and will be added as an achievement for LABCYTE INC. and help it in future expansion and trading.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the compound management market which also provides the benefit for organisation to improve their offering for compound management.
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