Compound Management Global Market Report 2024

The compound management market size has grown rapidly in recent years. It will grow from $0.45 billion in 2023 to $0.52 billion in 2024 at a compound annual growth rate (CAGR) of 16%. The growth during the historic period can be attributed to several factors, advances in high-throughput screening (HTS), increased demand for outsourcing of chemicals, heightened investment in research and development by pharmaceutical companies, automation and robotics, growing demand for compound management outsourcing services, and regulatory compliance.

The compound management market size is expected to see rapid growth in the next few years. It will grow to $0.95 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to several factors, increasing drug discovery and development activities, a rise in disease-related morbidity and mortality, the growing prevalence of chronic diseases, rising drug delivery projects, and the expansion of biobanks. Major trends expected during this period include increased automation, the growth of AI and machine learning applications, the proliferation of biobanks and biorepositories, the development of innovative solutions, and the adoption of cloud-based solutions.

The anticipated increase in pharmaceutical drug manufacturing is set to drive growth in the compound management market. Pharmaceutical drugs, utilized for preventing, treating, or diagnosing medical conditions in humans or animals, are witnessing a surge in manufacturing owing to several factors. These include the growing demand for innovative and efficacious medications, the rising prevalence of chronic diseases, supportive government policies and funding, and the increasing significance of personalized medicine. Compound management plays a pivotal role in pharmaceutical drug manufacturing by ensuring the efficient handling, storage, and tracking of chemical compounds vital for research, development, and production. For instance, as per the European Federation of Pharmaceutical Industries and Associations (EFPIA), pharmaceutical production in Europe reached $368.83 billion (€340,000 million) in 2022, marking a nearly 5% increase from the previous year's $351.42 billion (€323,950 million). Consequently, the upsurge in pharmaceutical drug manufacturing is fueling the growth of the compound management market.

Key players in the compound management market are concentrating on developing innovative solutions, such as web-based compound management, to streamline and enhance compound tracking, storage, and data management efficiency. Web-based compound management utilizes web technologies to manage the storage, tracking, and utilization of chemical compounds via a web interface. These systems, accessible through standard web browsers, offer convenient and flexible solutions for laboratories and research facilities. For example, BioAscent launched Compound Connect in December 2022, a web-based interface providing customers with secure access to a customized online inventory and ordering system for their compound libraries. This platform ensures up-to-date, trackable compound inventories that are easily accessible for ordering and delivery, allowing customers to manage their samples comprehensively, including storage, processing, and remote ordering.

In May 2023, eMolecules acquired Specs Compound Handling B.V. for undisclosed terms, aiming to broaden its geographical reach and enhance its global compound reformatting and management capabilities. Specs Compound Handling B.V., headquartered in the Netherlands, specializes in providing compound management services.

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.

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.

The countries covered in the compound management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Compound management is the systematic organization, storage, and tracking of chemical compounds in research and development processes. It involves implementing efficient protocols and technologies to ensure the integrity and accessibility of compound libraries, thereby facilitating discovery through the production of assay-ready compound plates for screening purposes.

The main types of compound management are categorized as products and services. Products encompass physical items or technologies used in the storage, handling, and management of chemical and biological samples. This includes chemical compounds and bio samples utilized in drug discovery, gene synthesis, bio banking, and other applications. These solutions find application in various sectors such as pharmaceuticals, biopharmaceuticals, contract research organizations, and others.

The compound management market research report is one of a series of new reports that provides compound management market statistics, including the compound management industry global market size, regional shares, competitors with compound management market share, detailed compound management market segments, market trends, and opportunities, and any further data you may need to thrive in the compound management industry. These compound management market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The compound management market consists of revenues earned by entities by providing services such as compound storage and logistics, compound library management, and high-throughput screening support. The market value includes the value of related goods sold by the service provider or included within the service offering. The compound management market also includes sales of automated storage systems, assay-ready plates, and dispensing systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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