PUNE, India, August 15, 2018 /PRNewswire/ --
According to a new market research report "Compound Management Market by Product & Outsourcing Services (Instruments (Automated Storage, Decapper), Software), Sample (Chemical Compounds, Biological Samples), End User (Biopharma Companies, Biobank, Pharma Companies, CRO) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 424.5 million in 2023 from USD 215.3 million in 2018, at CAGR of 14.5%.
Browse 95 market data Tables and 24 Figures spread through 118 Pages and in-depth TOC on "Compound Management Market"
Early buyers will receive 10% customization on this report
Increasing drug discovery activities, the growing biopharmaceutical industry, and the rising trend in outsourcing compound/sample management are the major factors driving the growth of the market.
Based on product and service, the outsourcing services segment is expected to grow at the highest CAGR in the market during the forecast period
On the basis of product & service, the market is broadly segmented into products (instruments & software) and outsourcing services. The outsourcing service segment is expected to grow at the highest CAGR in the global Compound Management Market. This can be attributed to the shift in trend towards outsourcing compound management to third-party service providers. These companies are experts in compound management and provide various services to pharmaceuticals, biopharmaceuticals, and CROs with regard to their compound storage needs, and are reasonably priced.
Based on sample type, the chemical compounds segment is expected to account for the largest share of the market in 2018
On the basis of sample type, the global Compound Management Market is divided into chemical compounds and biosamples. In 2018, the chemical compounds segment is expected to account for the largest share of the Compound Management Market. The rising drug discovery activity is leading to an increased demand for compounds which is positively affecting the market growth.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=182172928
North America is expected to account for the largest share of the market in 2018
Among the four geographic regions, North America is expected to account for the largest share of the Compound Management Market in 2018, followed by Europe, APAC, and the RoW. 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 maintenance of huge chemical libraries. Moreover, to maintain productivity of such innovative drugs and biologics, most of the leading pharma and biopharma companies have started building compound management facilities.
The Compound Management Market is highly competitive due to the presence of a large number of players. Few companies that provide compound management systems are Brooks Life Sciences (US), Hamilton Company (US), TTP Group (UK), Labcyte (US), Biosero (US), and Tecan (Switzerland).
Know more about the Compound Management Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets