WASHINGTON, March 10, 2022 (GLOBE NEWSWIRE) -- In recent years many biopharmaceutical companies are investing heavily in the development of novel drugs and medicines, this requires streamlined management tools and hence is expected to generate revenue from the Compound Management Market. Also, rising outsourcing activities related to management is fueling the growth of the market. Owing to these on-going enhancements Compound Management Market is expected to flourish in near future, states Vantage Market Research, in a report, titled “Compound Management Market by Type (Product, Service), by Sample Type (Chemical Compounds, Bio Samples), by Application (Drug Discovery, Gene Synthesis, Bio Banking, Others), by End User (Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
The market size stood at USD 355.5 Million in the year 2021. The Global Compound Management Market size is expected to reach USD 897.1 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period.
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List of Prominent Players in the Compound Management Market:
- Brooks Life Sciences (US)
- Titian Software Limited (UK)
- Beckman Coulter Inc (US)
- Hamilton Company (US)
- Evotec (Germany)
The report on Compound Management Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Market Overview:
Driver: Growth in the Biopharmaceutical Industry
Biopharmaceutical industry is the fastest-growing pharmaceutical industry currently evaluated for the development of the Compound Management Market. The growth of this sector will also support that of the [[keyword}} Market, as increased biologic production will spur the demand for sample management. The growth of the biopharmaceuticals market is attributed to the increasing demand for biologics, the emergence of bio-similar and increasing Research and Development (R&D) expenditure in biopharmaceutical companies, as well as the increasing prevalence of chronic diseases. In addition, a focus on outsourcing functions to CROs and CMOs has allowed most biotech and bio-pharmacy companies to focus on core functions.
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Huge Amount of Funds to Establish Compound Management Facilities is Expected to hinder the Compound Management Market Growth
High capital investments are required to build a compound management facility, tis includes investment in both hardware and software. The estimated cost of a large automated storage system, for example, ranges between USD 8 million and USD 15 million. The huge capital requirements for this infrastructure are expected to put them out of reach for small or medium-size pharmaceutical companies. Research institutes with limited budgets also find it difficult to afford such instruments. Owing to this short comes the market is expected to slow down in coming years.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various healthcare facilities worldwide. The Compound Management Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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Regional Analysis:
Increasing Growth of Compound Management Market in North America
The Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the prevalence for increase in number of well-established compound management facilities and technical institutes in the US and Canada. Also, large number of on-going research studies and growth of the overall pharmaceutical sector are among the few factors expected to contribute to the growth of this market in this region. Key players are spending huge funds in development which is also one of the factors that are booming the development of Compound Management Market in this region.
For instance, in 2018, Brooks Automation partnered with the Cleveland Clinic to open a new biobanking facility for Cleveland Clinic by utilizing Brooks' sample storage solutions.
In 2018, Brooks Automation acquired Bio Speci Man Corporation to expand its consumer base, sample management services offering, and geographic footprint.
In 2018, Tecan collaborated with Dia Sorin to deploy its Tecan's Fluent Laboratory Automation Solution into its nucleic acid extraction platform.
North America is anticipated to showcase largest growth over the forecast period. Moreover, to maintain the productivity of such innovative drugs and biologics, most of the leading pharmaceutical Industries and bio-pharmaceutical companies have started building compound management facilities or contracting external service providers.
Browse market data Tables and Figures spread through 155 Pages and in-depth TOC on "Compound Management Market by Type (Product, Service), by Sample Type (Chemical Compounds, Bio Samples), by Application (Drug Discovery, Gene Synthesis, BioBanking, Others), by End User (Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/compound-management-market-412306
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Compound Management Market?
- How will the Compound Management Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Compound Management Market?
- What is the Compound Management market drivers and restrictions?
- What will be the CAGR and size of the Compound Management Market throughout the forecast period?
This market titled “Compound Management Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 355.5 Million |
| Projected Market Size in 2028 | USD 897.1 Million |
| CAGR Growth Rate | CAGR of 16.5% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type • Product • Service Sample Type • Chemical Compounds • Bio Samples By Application • Drug Discovery • Gene Synthesis • BioBanking • Others End User • Pharmaceutical Companies • Biopharmaceutical Companies • Contract Research Organizations • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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