The global compound management market size is expected to reach USD 885.9 million by the end of 2026, expanding at a CAGR of 16.7%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical industry and bio banking sector is fueling the market growth.The growth of translational research and personalized medicine is driving the market.
Efficient
compound management is tremendously important for the success of drug
discovery, where traceability, reliability, speed, and throughput are
fundamental. Maintaining samples at the precise temperature, under nitrogen or
dry air to prevent fluctuations of stock concentrations, and in a dark
environment in order to avoid photo degradation, can help ensure consistency
and longevity of samples.
Compounds
of a high integrity lead to reliable results while locating drug candidates.
Moreover, the collection, storage, and distribution of human biological samples
supports the development of the R&D industry. In addition, it aids to
understand the mechanisms of diseases as well as support the trend to provide
personalized medicines.
Automated
storage systems eliminate or reduce the risks and provide reliable and correct
environmental conditions to protect samples from precipitation or degradation.
A management system like Verso tracks sample data, including location and type,
enables quick and easy finding of the sample. The fully automated systems
improve the process of drug discovery by eliminating error-prone and
time-consuming tasks.
North
America dominated the market in 2018 owing to strong base of biotechnology and
pharmaceutical companies in the region. These companies are involved in drug
discovery activities, which, in turn, led to the growth of the market in the
region. The Asia Pacific market is anticipated to grow fast over the forecast
period. This is attributed to ongoing studies in private-public collaborations,
drug discovery, and government initiatives in the region.
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Compound
Management Market Report Highlights
- The automated
compound/sample storage systems segment was the largest in 2018 accounting
for 45.2% of the market share. This is attributed to the fact that it
eliminates or reduces error and saves time
- On the basis
of sample type, chemical compounds dominated the market in 2018 with a
largest share of 53.0% due to the increasing drug discovery activities,
resulting in an increased demand for compounds and positively affecting
thecompound management market growth
- The bio
banking segment is anticipated to exhibit the fastest CAGR of 17.1% over
the forecast period. There has been increase in the number of
organizations involved in the collection and storage of human biomaterials
in line with the increasing use of human biomaterials in research as a
replacement to animal models. It is anticipated to support the market
growth
- North America
led the market owing to the presence of large biopharmaceutical companies
engaged in drug discovery and require huge maintenance of chemical
libraries. Thus, to maintain the productivity of such biologics and drugs,
most of the leading biopharma and pharma companies have started building
storage facilities
- Some of the
players operating in the market are Tecan, Roche, Brooks Life Sciences,
Evotec, Hamiltons, BioAscent, Titian Software Limited, AXXAM S.p.A., TTP
Labtech, TCG Lifesciences Private Limited, WuXi AppTec, and HDC GmbH.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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