The global compound management market size was valued at USD 258.3 million in 2018 and is anticipated to witness a CAGR of 16.7% over the forecast period. Increasing drug discovery activities, growth in the pharmaceutical and biotechnology industry as well as increasing demand for outsourcing these services are some of the factors driving the market.
Automated storage systems manage collections of compounds more efficiently, maximize sample integrity as well as improve turnaround times while sourcing samples. Additionally, new automated technology for sample management has led to the introduction of innovations that support novel approaches for high-throughput screening. Fully automated systems include preparation of assay plate, weighing and dissolution of the compound, and library maintenance that completely improve workflows of drug discovery by eliminating time-consuming and error-prone tasks.
With the increasing number, variety as well as size of the sample collections around the world, the need for software management tools also increases. Earlier, numerous organizations preferred to set up and maintain their own software systems for sample management. But this has often proven costly. Hence, many have now switched to outsourced solutions. For instance, Titan Software Limited supplied its Mosaic sample management system to various consumers ranging from CROs to biotech start-ups and large pharmaceutical companies.
Companies are increasingly undertaking collaborations and leveraging expertise, which is expected to drive the compound management market. Organizations are undertaking and extending existing strategic partnerships with many academic institutions, venture capitalists for funding, and other private or public companies to exploit any patented technology and molecules. Rising partnerships between public or private entities accelerate drug discovery processes, which in turn, increase the global demand.
In May 2017, Eisai, Inc., a U.S. subsidiary of Japan-based Eisai Co. Ltd., and John Hopkins University extended their drug discovery partnership via a license agreement for small molecule compounds recognized by collaborated study of John Hopkins University and Eisai's Andover Innovative Medicines (AiM) Institute.
Based on type, the market is segmented into products and service. The product segment is segmented into automated compound/sample storage systems, automated liquid handling systems, and other compounds/sample storage systems which includes capper/decapper systems.
The product segment dominated the market for compound management with a share of 65.1% in 2018. It is anticipated to lead the market owing to increasing demand for automation to manage the compound and libraries. Plates, tubes, and vials can be managed by an automated liquid handler and automated compound store equipment to permit plate stamping compound tracking and reformatting.
Automated storage systems enhance overall efficiency as well as reliability thus allowing users to focus attention on high-value activities. Many updated processes comprise of complete integration of storage systems with workstations of sample processing that contains pipetting robots. Novel systems are also providing the flexibility required for smaller companies to benefit from the integration of the system. For instance, the Verso automated storage system offers a range of adaptable configurations, comprising an entry-level Verso SE series to suit the changing needs of compound storage.
Based on sample, the market is divided into chemical compounds and bio samples. The chemical compound segment was identified as largest segment accounting for 53.0% of entire market share. This is largely due to large number of small molecule compounds being screened and assayed during the process of drug discovery.
The bio sample segment is anticipated to exhibit the fastest CAGR of 17.1% over the forecast period. The increasing demand for personalized medicines is fueling market growth. Biological samples are the vital assets of medical research. Different bio specimens stored at biobanks are observing significant demand due to the developments in cell-based research activities. As per the FDA recommendations discovery and development of biomarker is essential for biotechnology and pharmaceutical companies in the process of R&D.
Based on application, the global market for compound management is segmented into drug discovery, gene synthesis, bio banking, and others, which includes forensic science. Drug discovery is projected to grow significantly over the forecast period. Developing a drug is a costly, lengthy, and complicated process and requires various advanced techniques to check its process.
High Throughput Screening is used to screen a large number of compounds with a biological target. The data on activity against the target is collected from a broad library. Drug Discovery is used to identify more active compounds. Hence, an increase in the activity of drug discovery is anticipated to create a huge demand.
The bio banking segment is also anticipated to grow rapidly owing to increasing number of organizations involved in the collection and storage of the biomaterials. Also, increasing emphasis on personalized medicines is driving the need for bio banking. Besides, the need for quality bio specimens that are used to support research is expected to increase. Thus, the abovementioned factors are anticipated to support the growth of the segment.
Based on end use, the global market for compound management is segmented into pharmaceutical companies, biopharmaceutical companies, contract research organizations (CROs), and others which includes government, research, and academic institutes. The pharmaceutical companies segment is anticipated to lead the market with a share of 34.2% owing to the increasing drug discovery activity that is leading to an increased demand for the compounds, thereby positively affecting the market growth.
The biopharmaceutical segment is anticipated to exhibit a highest CAGR over the forecast period. Increased biologic production and emergence of biosimilars is anticipated to propel segment’s growth over the forecast period. In addition, rising R&D investments in biopharmaceutical companies and growing prevalence of chronic diseases will drive the segment.
Based on geography, North America dominated the market for compound management in 2018 with a market share of 42.0%. This is due to the strong base of pharmaceutical and biotechnology companies that are involved in drug discovery activity. Thus, there is an increasing demand for services in this region. Moreover, the increase in disease-related morbidity and mortality has led to the discovery of more drug candidates, thereby driving the growth in this region.
The Asia Pacific is expected to witness the fastest growth over the forecast period. Ongoing studies in drug discovery, private-public collaborations, and government initiatives are some of the other factors likely to propel the growth of the regional market. Japan contributed to the largest market share owing to favorable government support. The revised Pharmaceutical Affairs Law supports research activities regarding tissue diagnostics and cancer in Japan, which is expected to drive the market for compound management in this country in the near future.
Some of the players operating in this market are Brooks Life Sciences; Tecan; Hamilton Company; BioAscent; Titian Service Limited; Evotec; Beckman Coulter, Inc.; LiCONiC systems; AXXAM S.p.A.; and TTP Labtech. Product launch, merger and acquisitions, and collaborations are the key strategies undertaken by the market players. For instance, In January 2019, Beckman Coulter Life Sciences announced the acquisition of Labcyte, which is a liquid handling company based in California, with an aim to expand laboratory automation business.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2026
Revenue in USD Million and CAGR from 2019 to 2026
North America, Europe, Asia Pacific, Latin America, MEA
U.S., Canada, U.K., Germany, France, Italy, Spain, China, India, Japan, Australia, South Korea, Mexico, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE
Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analysts working days)
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global compound management market report on the basis of type, sample type, application, end use, and region:
Type Outlook (Revenue, USD Million, 2015 - 2026)
Automated Compound/Sample Storage Systems
Automated Liquid Handling Systems
Other Compound/Sample Storage Systems
Sample Type Outlook (Revenue, USD Million, 2015 - 2026)
Application Outlook (Revenue, USD Million, 2015 - 2026)
End Use Outlook (Revenue, USD Million, 2015 - 2026)
Contract Research Organizations
Others (Research and Academic Institutes)
Regional Outlook (Revenue, USD Million, 2015 - 2026)
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