Compound Management Market Size Worth $885.9 Million In 2026

Grand View Research, Inc.

SAN FRANCISCO, Nov. 18, 2019 /PRNewswire/ -- 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.

Key suggestions from the report:

• 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.

Read 120 page research report with ToC on "Compound Management Market Size, Share & Trends Analysis By Type (Product, Services), By Sample Type, By Application (Drug Discovery, Gene Synthesis), By End Use, By Region, And Segment Forecasts, 2019 - 2026'' at: https://www.grandviewresearch.com/industry-analysis/compound-managemen ...