What Has Been the Progress and Growth of the Compound Management Market in Recent Years?
The compound management market has seen considerable growth due to a variety of factors.
• The compound management market has expanded rapidly in recent years. It is expected to grow from $0.52 billion in 2024 to $0.61 billion in 2025, at a compound annual growth rate (CAGR) of 16.5%.
The historical growth is due to advances in high-throughput screening (HTS), an increase in outsourcing of chemical processes, more investment in pharmaceutical research, and automation and robotics in compound management services.
What Is The Expected Growth In The Compound Management Market Size Evolve over the Forecast Period?
The compound management market is expected to maintain its strong growth trajectory in upcoming years.
• The compound management market is expected to grow to $1.11 billion by 2029, at a CAGR of 16.1%.
Growth is driven by drug discovery, disease prevalence, chronic disease rise, drug delivery projects, and biobank expansion. Trends include automation, AI/ML growth, biobank proliferation, innovative solutions, and cloud-based options.
What Main Forces Are Fueling Expansion In The Compound Management Market?
The growing pharmaceutical drug manufacturing is expected to drive the compound management market. The demand for pharmaceutical drugs is rising due to the increasing prevalence of chronic diseases and the need for personalized medicine. Compound management systems help manage and track the chemicals used in drug manufacturing. For instance, in June 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA) reported a 4.95% increase in pharmaceutical production in Europe in 2022, contributing to the growth of the compound management market.
What Are The Primary Segments In The Global Compound Management Market?
The compound management market covered in this report is segmented –
1) By Type: Product, Service
2) By Sample: Chemical Compound, Bio Samples
3) By Application: Drug Discovery, Gene Synthesis, Bio Banking, Other Applications
4) By End-Use: Pharmaceutical, Biopharmaceutical, Contract Research Organizations, Other End-Uses
Subsegments:
1) By Product: Compound Management Systems, Compound Libraries, High-Throughput Screening Products
2) By Service: Compound Sourcing and Procurement, Compound Storage And Handling, Compound Screening Services, Compound Distribution And Logistics
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What New Trends Are Influencing The Compound Management Market?
Companies in the compound management market are focusing on web-based solutions to streamline compound tracking, storage, and data management. Web-based compound management systems allow easy access through browsers, providing flexibility and convenience for laboratories and research facilities. For instance, in December 2022, BioAscent, a Scotland-based pharmaceutical company, launched Compound Connect, a web-based platform offering real-time access to customized compound inventories and ordering systems, ensuring efficient management across different stages of the compound lifecycle.
Who Are the Key Players In The Compound Management Market?
Major companies operating in the compound management market are:
• Thermo Fisher Scientific Inc.
• WuXi AppTec Co. Ltd.
• PerkinElmer
• Tecan Group Ltd.
• Beckman Coulter Life Sciences
• Evotec AG
• Azenta Inc.
• Hamilton Company
• Frontage Laboratories Inc.
• LabWare Inc.
• SPT Labtech
• BioStorage Technologies Inc.
• Genedata
• ChemAxon
• Highres Biosolutions Ltd.
• Sapio Sciences
• Axxam S.p.A
• Labcyte Inc.
• LiCONiC AG
• Titian Software Ltd.
• Biosero Inc.
• Zinsser Analytic GmbH
• TCG Lifesciences Pvt.
• BioAscent Discovery Ltd.
• Frontier Scientific Inc.
What Is The Most Dominant Region In The Compound Management Market?
North America was the largest region in the compound management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compound management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
