According to a new market research study titled ‘Compound Management Market to 2027 – Global Analysis and Forecasts by Product & Services, Sample Type, Application and End User.’ The global Compound management market is expected to reach US$ 691.41 Mn in 2027 from US$ 220.19 Mn in 2018. The market is estimated to grow with a CAGR of 14.2% from 2019-2027. The report highlights the trends prevalent in the global compound management market and the factors driving the market along with those that act as deterrents to its growth.
Global compound management market, based on the end user, was segmented as, pharmaceutical companies, biopharmaceutical companies and contract research organizations (CROs). In 2018, pharmaceutical companies held the largest share of the market, by end user. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The increase in funds in R&D activities for the industries and academia and government financing for research activities, these factors are anticipated to lead to the growth of the segment during the forecast period.
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The market for compound management is expected to grow, owing to factors such as extensive usage of the products for the management of compound used in drug discovery, genetic studies are rising at a fast speed In addition, growth of bio banking sector and rapid development in biopharmaceutical industry is likely to have a positive impact on the growth of the market in the coming years.
The major players operating in the compound management market include, Tecan Trading AG, Hamilton Company, TTP Labtech, Frontier Scientific Services, Biosero Inc., Evotec, Icagen, Inc., Wuxi Apptec, TCG Lifesciences Pvt. Ltd and BioAscent. The market has witnessed various organic as well as inorganic developments during recent years in the compound management market. During November 2018, Brooks Automation has Acquired GENEWIZ Group a leading global genomics service provider that enable research scientists to advance their discoveries within the pharmaceutical, academic, biotechnology, agriculture and other markets
The report segments the Global Compound Management Market as follows:
Global Compound Management Market – By Product & Services
- Compound/Sample Management Products
- Automated Compound/Sample Storage Systems
- Manual Compound/Sample Storage Systems
- Automated Liquid Handling Systems
Global Compound Management Market – By Sample Type
- Chemical Compounds
Global Compound Management Market – By End User
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations (CRO’s
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This post was originally published on The Picayune Current