North America Compound Management Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: North America 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 from USD 409.98 million in 2020. 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Compound management is a process of managing a large-small compound library including updating the outdated chemical, information databases, robotic automation involved in inventory management and quality control of the storage environment.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 companies 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 market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

North America Compound Management Treatment Market Scope and Market Size

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 segment is 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 segment is 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 segment 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 segment is dominating 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 is dominating 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 segment is dominating 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 distributor. In 2021, direct sales segment is dominating 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 Treatment Market Country Level Analysis

The 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 compound management market report are the U.S., Canada and Mexico.

North America region holds the highest share in the compound management market and is expected to witness the CAGR during the forecast period due to increasing involvement of AI in drug development workflow, increase in outsourcing compound management, trending biobanking scenario among other factors. The U.S. has the highest household spending in the world and offers trade agreements with several countries making it the largest market for consumer products including compound management products.

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

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 2010 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 providing compound management are HighRes Biosolutions, Brooks Life Sciences, Tecan Trading AG, Evotec SE, Hamilton Company, Pharmaron, LABCYTE INC., AXXAM S.p.A HighRes Biosolutions, LiCONiC AG, Specs Compound Handling B.V., SPT Labtech, WuXi AppTech among others 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.

For instance,

• In January 2020, HighRes Biosolutions and Novo Nordisk A/S announced that the mutual agreement was to make robotic platform for characterisation of compound which were processed for high-throughput biologics engineering. This implementation of a -high-tech system robotics platform with the upgradation with highly sophisticated software by HighRes Biosolutions was to control the digital transformation and to give boost to novel discovery for Novo Nordisk’s peptide and large molecule therapeutics research and will in future increase the product portfolio for HighRes Biosolutions.
• In September 2017, AXXAM S.p.A announced that they came into a fruitful collaboration with Genedata AG, a leading software provider. This increased the data comparability, traceability, and quality of results and will help the company for expanding its business and market share.

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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