Compound Management Market Worth USD 424.5 Million : Growth Of The Biobanking Sector

Major Growth Boosters:

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 rising drug discovery activity is leading to an increased demand for compounds, which is positively affecting market growth.

What This Report Will Provide?

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.

Expected Revenue Growth:

The Compound management 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

Recent Developments

  • In 2018, Brooks Automation partnered with the Cleveland Clinic to open a new biobanking facility for Cleveland Clinic by utilizing Brooks’ sample storage solutions.
  • In 2018, Brooks Automation acquired BioSpeciMan Corporation to expand its consumer base, sample management services offering, and geographic footprint.
  • In 2018, Tecan collaborated with DiaSorin to deploy its Tecan’s Fluent Laboratory Automation Solution into its nucleic acid extraction platform.
  • In 2017, Biosero completed the expansion of its new facility and relocated headquarters, its corporate office, R&D center, and production facilities in San Diego, CA.
  • In 2016, Evotec signed a multi-year compound management agreement with Pierre Fabre Laboratories. Under the terms of the agreement, Evotec gained exclusive rights to manage Pierre Fabre’s compound collection and compound management facility based at Toulouse, France.

Key Questions Addressed in The Report:

  • Where will all these developments take the compound management market in the long term?
  • What are the upcoming trends for the compound management market?
  • Which segment in the compound management market provides the most opportunity for growth?
  • Who are the leading vendors operating in the market?
  • What are the opportunities for new market entrants in the compound management market?

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Growth of the biopharmaceutical industry

Biopharmaceuticals form the fastest-growing segment of the pharmaceutical industry. The growth of this sector will also support that of the sample management market, as increased biologic production will spur the demand for sample management. The growth of the biopharmaceuticals market is attributed to the increasing demand for biologics, the emergence of biosimilars, and increasing R&D expenditure in biopharmaceutical companies, as well as the increasing prevalence of chronic diseases.

Regional Growth Analysis:

The large share of North America is attributed to the presence of the large pharmaceutical and biopharma industry. As a result, several companies in North America are engaged in drug discovery activities, which require the maintenance of substantial chemical libraries. Moreover, to maintain the productivity of such innovative drugs and biologics, most of the leading pharma and biopharma companies have started building compound management facilities or contracting external service providers.

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