The global compound management market size was USD 353.8 million in 2021 and is expected to register a CAGR of 17% during the forecast period. Steady market revenue growth is primarily attributed to rapidly expanding pharmaceutical and biotechnology industries, rise in drug discovery & development activities, surging demand for compound management outsourcing services, and increasing activities of sample collection, storage, and transportation.
Increasing need for outsourcing of chemical and biological samples, growing biobanking sector, surge in pharmaceutical research & development activities, and rising collaborations among academic research institutes and pharmaceutical giants worldwide are other crucial factors supporting revenue growth of the global compound management market. Increasing adoption of automated storage systems, which enable efficient management of collection and storage of compounds, maximizes sample integrity, and enhances the sample sourcing process is another factor bolstering market growth. Furthermore, rising demand for advanced software tools for compound management, increasing need for newer approaches to drug development, and increased government investments in healthcare R&D programs are factors expected to continue to support global market growth going ahead.
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Preserving the integrity of compound collection and providing high-quality materials for drug discovery efficiently and in a cost-effective manner are among some major challenges in various medical and chemical sectors. Compound management refers to the management of chemical libraries and biological samples such as nucleic acid or purified proteins, which find significant use in drug discovery and high-throughput screening. Also known as compound control, compound management involves the collection, processing, storage, monitoring, and quality control of compounds, and it also renews outdated chemicals, updates databases, and manage robotics used in transporting chemicals throughout the storage facility. Compound management plays a significant role in ensuring the safety, purity, quantity, shelf life, and various other parameters. Compound management involves inventory control of biologics and molecules used in experiments, assays, and high-throughput screening. It helps preserve the quality and integrity of compounds, and in maintaining the accuracy of assay results. Therefore, compound management is significantly vital to drug discovery workflow and enhances reliability, speed, and traceability of drug discovery processes.
A major factor that has been driving need for automated sample management are bottlenecks in drug discovery. Hardware and software are used to determine how efficiently samples can be stored and used in small molecule discovery. Automation opens up options to cover a wide range of platform sizes and throughput capabilities, as well as adds the advantage of flexibility. Sample collections range in the millions and these require to be retrieved and processed for high-throughput screening or secondary screening. These screening processes created the major slowdowns in drug discovery in the past, and technological advancements over the past two decades have enabled overcoming some of the major challenges faced in the process of drug discovery. The earlier bottlenecks have now been shifted from screening to compound management. Automation in compound-management workflow retrieves sample from storage, which it then processes to the required tubes or plates with liquid handling. From here it is moved along for high-throughput or high-content screening. This, as well as various other steps of the processes have been vastly streamlined, and this is a major factor driving popularity of compound management solutions in recent times, and the trend is expected to continue with further advancements in technology.
Global Compound Management Market: Dynamics
Drivers: Rising adoption of automated storage systems is among some of the key market growth driving factors
Over recent years, technological advancements in compound management systems have led to the development of automated storage systems. These systems have been gaining rapid traction, which is expected to further stimulate market growth to a significant extent in the coming years. Such advanced systems aid in eliminating risks of precipitation or degradation associated with environmental conditions and enable efficient tracking of sample data, type, and location. These systems provides effective inventory management solutions, along with fully automated processes such as library maintenance, compound weighing, and assay plate preparation.
Restraints: Inefficient management could result in unfavorable consequences, thereby hampering market growth
One of the major restraining factors for global compound management market growth is improper compound management, which could potentially lead to various unfavorable consequences in the healthcare research sector. Inadequate compound management leads to loss or spoilage of samples, unwanted expenditure, and various other bottlenecks that hamper the drug research and development process.
Global Compound Management Market: Type Outlook
Based on type, the global compound management market is segmented into products and services. The products segment is expected to maintain a dominant position among the other type segments over the forecast period. This segment is further sub-segmented into automated liquid handling systems, automated compound/sample storage systems, and others. Rising demand for automated compound storage systems owing to higher efficiency and reliability than available conventional compound management systems are among some major factors expected to boost revenue growth of this segment in the future.
Global Compound Management Market: Application Outlook
In terms of application, the global compound management market is broadly segmented into drug discovery, biobanking, gene synthesis, and others. The drug discovery segment is the leading application segment, accounting for largest revenue share in the market in 2021. Rising adoption of advanced drug discovery and development processes and techniques, and increasing government investments in pharmaceutical and biopharmaceutical industries for drug development are some key factors supporting revenue growth of this segment.
Global Compound Management Market: Regional Outlook
The global compound management market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North America compound management market accounted for largest revenue share of 44.2% in 2021. Revenue growth of the market in North America is majorly supported by increasing drug discovery and development activities, robust presence of leading market players in the region, rising prevalence of chronic and acute diseases, and rise in research collaborations among academic institutions and pharmaceutical companies. The Asia Pacific compound management market is expected to account for highest revenue growth rate over the forecast period, driven primarily by increased government funding and support for drug discovery, rise in imports and exports of pharmaceuticals, and growing number of pharmaceutical companies in Asia Pacific region.
Companies Profiled in the Report:
Some of the major companies operating in the global compound management market include Brooks Life Sciences, Tecan, Hamilton Company, BioAscent, Titian Service Limited, Evotec, Beckman Coulter Inc., LiCONiC Systems, AXXAM S.p.A., and TTP Labtech.
- In December 2021, Ziath, which is a leading sample/compound management solutions provider, introduced a new software called Datapaq 3.18 that runs the Acoustix module on a Cube, Mirage, or Express tube reader. The new product is compatible with Labcyte Echo, which is the latest generation of acoustic dispensers. The product offers higher speed and efficiency than many other tube readers available currently.
Global Compound Management Market Segmentation:
For the purpose of this study, the global compound management market has been segmented based on type, sample type, application, end-use, and region:
Compound Management Market Report Scope
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered By Type Outlook,Sample Type, Application, End-use, Regional Outlook
By Type Outlook
Automated Compound/Sample Storage Systems
Automated Liquid Handling Systems
By Sample Type
Research and Academic Institutes
Contract Research Organizations (CROs)
Middle East & Africa
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