Global Compound Management Market

Global Compound Management Market

Global Compound Management Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031

Compound Management, also referred to as compound control, is defined as the management of chemical libraries, including renewal of outdated chemicals, databases containing the information, robotics often involved in fetching chemicals, and quality control of the storage environment.

Market Dynamics: Drivers & Restraints

Rise in demand for drug discovery activities

The drug pipeline has experienced a significant surge in recent years due to growth in drug discovery activities, pharmaceutical and biotechnology industries, and increasing demand for outsourcing services.

According to the Pharma R&D Annual Review 2022, the R&D pipeline consisted of 17,737 drugs in 2020, while in 2022, the number of drugs in the pipeline rose to 20,109. The growing drug pipeline is expected to create opportunities for the market. During the COVID-19 pandemic, most vaccines and drugs were in the pipeline. However, according to the Pharma R & D Annual Review 2022, biotechnology and anticancer drugs were the major ones in the pipeline.

Furthermore, global compound management is also driven by various other factors like growth in the biopharmaceutical industry, technological advancements, favourable reimbursement and others helping the market to grow during the forecast period.

Loss of data due to illegible labels

Data loss due to illegible labels can halt research progress, leading to reduced throughput, increased costs, and potentially the disposal of precious material. Additionally, sample databases may be incomplete or in worse case scenarios non-existent, meaning projects cannot be actively revised or repurposed as full compound traceability has been lost.

Segment Analysis

The global compound management market is segmented based on product & service, sample type, end-user and region.

The automated compound/sample storage systems from the product & service segment accounted for approximately 54.3% of the Compound Management market share

The automated compound/sample storage systems from the product & service segment accounted for approximately 54.3%. Automated storage systems improve overall efficiency and reliability, allowing users to focus on high-value activities. Many updated processes include the complete integration of storage systems with sample processing workstations that include pipetting robots. Smaller businesses can also benefit from system integration thanks to novel systems. The Verso automated storage system, for example, offers a variety of adjustable configurations to meet the changing needs of compound storage.

For instance, in November 2023, Sygnature Discovery unveiled its latest investment in a state-of-the-art Azenta compound management storage system, which also provides the opportunity to store customer libraries.

Geographical Analysis

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to the factors like large number of pharmaceutical and biotechnology firms involved in drug discovery in the region. As a result, there is an increasing demand for services in this region. Furthermore, the rise in disease-related morbidity and mortality has resulted in the identification of more drug candidates, fueling growth in this region.

For instance, in May 2023, eMolecules, Inc., an industry-leading chemical compound search-and-fulfilment platform for early discovery chemistry research, today announced the acquisition of Specs Compound Handling B.V. (""Specs"").

Specs offer chemical compound management services to the life sciences industry, particularly in the European pharmaceutical, biotechnology and academic sectors, driving time and cost efficiencies for customers' large-scale drug candidate screening programs.

Moreover, Evotec has five compound management teams in Europe and the United States. Evotec's global compound management sites can store over 13 million compounds at different temperatures and process and deliver more than 45 million compounds annually.

Covid 19 Impact Analysis

During the COVID-19 pandemic, most vaccines and drugs were in the pipeline. COVID-19 vaccines gained considerable importance even after the decline in cases. The fear of the emergence of a new variant of COVID-19 increased the demand for vaccines. Thus, a significant number of drug manufacturers began developing COVID-19 vaccines. According to Clinicaltrials.gov, as of May 31, 2022, over 1,112 vaccines were under development for COVID-19. This is likely to improve the demand for compound management for COVID-19 vaccines.

Market Segmentation

By Product & Service
• Automated Compound/Sample Storage Systems
• Automated Liquid Handling Systems
• Others

By Sample Type
• Chemical Compounds
• Bio Samples

By End-User
• Biopharmaceutical Companies
• Contract Research Organizations
• Pharmaceutical Companies
• Biobanks
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Biosero, Evotec, Hamilton Company, HighRes Biosolutions, TCG Lifesciences, Tecan, SPT Labtech, Wuxi Apptec, Bioascent, Liconic AG and among others.

Key Developments

In November 2022, BioAscent, a provider of integrated drug discovery services, introduced a new web-based interface for customers using its compound management services. The compound connect interface provides customers with a secure online inventory, ordering and tracking system for compound libraries managed by BioAscent at its state-of-the-art facility in Newhouse, UK.

Why Purchase the Report?
• To visualize the global compound management market segmentation based on product & service, sample type, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analysing trends and co-development.
• Excel data sheet with numerous data points of compound management market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global compound management market report would provide approximately 64 tables, 61 figures and 186 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies