The Compound Management Market is Anticipated to Grow at a Rate of 16.5% within the Forecast Period

The Compound Management Market is anticipated to grow from USD 355.5 Million in 2021 to USD 897.1 Million by 2028, at a rate of Compound Annual Growth Rate (CAGR) 16.5% in the forecast period of 2022-2028. Compound Management is a service that provides secure integrated storage and integration, rapid delivery of hits, and leads to a medical, biopharmaceutical organization, and other contract research organization with quality control and asset management. Ingredients used for research purposes begin their journey from the collection and are stored, then processed, and finally reached into research labs for drug development.

Biopharmaceuticals form the fastest-growing segment in the pharmaceutical industry. The growth of this sector will also support that of the compound management market, as the increase in biologic production will increase the need for compound management. In addition, the focus on job creation activities in CROs and CMOS has allowed many biotech and biopharma companies to focus on core functions. Companies are increasingly developing collaborations and energy efficiency technologies, which are expected to advance the integrated management market. Growing partnerships between private or public organizations create drug discovery systems, which, in turn, increase global demand. However, the high cost of managing integrated assets could hamper future business growth.

The compound management market is segmented based on Product & Service, Sample Type, and End User. Based on product and service, the market is classified into products which are further classified into instruments and software and outsourcing services. Based on sample type, the market is classified into Chemical Compounds and Bio samples. Based on end-user, it is classified into products and services.

North America is expected to dominate the market due to the presence of a large consumer market with high GDP. The North American region holds a large share of the market share compound management and is expected to include the Compound Annual Growth Rate (CAGR) in the forecast period due to increased AI involvement in drug performance improvement, increased external component management, biobank status among other things. China is expected to dominate the Asia-Pacific market. China is one of the world's leading countries with rapid growth in product use and advances in automated technology and integrated management. Europe is expected to grow at a very promising rate of growth in the forecast period 2021 to 2028 with an increase in R&D activities in the pharmaceutical and biotech sectors. The Middle East and Africa are expected to grow at a high rate of growth in the forecast period 2021 to 2028 as the Middle East African regions grow due to the trend of software development and biobanking in the region.

The major players included in Global Compound Management Market are Brooks Life Sciences (US), Titian Software Limited (UK), Beckman Coulter Inc (US), Hamilton Company (US) , Evotec (Germany).