Compound management is the storage and management of chemical libraries and biosamples used for drug discovery research and clinical purposes. This process comprises multiple steps, including sample acquisition, storage, reformatting, assay plate preparation, and retrieval of a compound/sample.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=182172928
According to the new market research report by MarketsandMarkets, The market is projected to reach USD 424.5 million in 2023 from USD 215.3 million in 2018, at a CAGR of 14.5% during the forecast period. The growth of the market can be attributed to increasing drug discovery activities, the growing biopharmaceutical industry, and the rising trend in outsourcing compound/sample management.
The Compound Management market has been classified based on product & service, sample type, and end user. Based on product and service, the compound management market is segmented into product (instruments and software) & outsourcing services. In 2018, the products segment is expected to account for the largest share of the market. The outsourcing service segment is projected to grow at the highest rate during the forecast period. This high growth is attributed to the shift in trend towards outsourcing compound management to third-party service providers.
Browse and in-depth TOC on “Compound Management Market”
95 – Tables
24 – Figures
118 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/compound-management-market-182172928.html
Based on product and service, the outsourcing services segment is expected to grow at the highest CAGR in the market during the forecast period
On the basis of product & service, the market is broadly segmented into products (instruments & software) and outsourcing services. The outsourcing service segment is expected to grow at the highest CAGR in the global compound management market. This can be attributed to the shift in trend towards outsourcing compound management to third-party service providers. These companies are experts in compound management and provide various services to pharmaceuticals, biopharmaceuticals, and CROs with regard to their compound storage needs, and are reasonably priced.
Based on sample type, the chemical compounds segment is expected to account for the largest share of the market in 2018
On the basis of sample type, the global compound management market is divided into chemical compounds and biosamples. In 2018, the chemical compounds segment is expected to account for the largest share of the compound management market. The rising drug discovery activity is leading to an increased demand for compounds which is positively affecting the market growth.
One of the major factors restraining market growth is the high capital investments required to build a compound/sample management facility, including investment in both hardware and software, such as the installation of new automated liquid compound storage systems linked to a powerful inventory database. Due to this requirements, setting up such facilities may 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. However, growth in the services market may alleviate problems of high capital investment.
Request for sample pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=182172928
Objectives of the Study
To define, describe, and forecast the compound management market on the basis of product & service, sample type, end user, and region
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
To profile the key players in the market and comprehensively analyze their market positions and core competencies
To track and analyze competitive developments such as partnerships, agreements, and joint ventures; mergers and acquisitions; product development; and research and development activities in the compound management market