Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "Global Compound Management Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.
According to this report, the global market for compound management is anticipated to exhibit a CAGR of 14.50% during the projected period of 2019-2028.
Factors such as an increase in R&D activities in pharmaceutical and biotech sectors, along with a rise in clinical trials, are driving the growth of the market. Moreover, the biobanking sector is also propelling the progress of the compound management market. The surge in demand for specialized testing services is another factor generating multiple opportunities for the market's development.
Furthermore, developing countries are also offering favorable opportunities for the market's development. However, the incompatibility with global systems, coupled with the shortage of skilled laborers, obstructs the growth of the compound management market worldwide.
The global compound management market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
Globally, North America holds the largest share in the compound management market, and is expected to continue its hold till 2028. The growth of the United States compound management market can be attributed to the increase in R&D activities by the pharmaceutical companies. They are concentrating on developing new leads to store a massive amount of samples with the third-party companies that are experts in compound management. This further helps them in reducing in-house R&D activities by outsourcing these studies through expert companies.
Further, the competition between biotechnology and pharmaceutical companies to reduce drug development costs is likely to boost the country's compound management market. In Canada, cancer is known as one of the primary causes of death. This has influenced several government institutes and societies to undertake research activities in the field of cancer treatments. For instance, the Ontario Institute for Cancer Research (OICR) conducts cross-disciplinary cancer research in multiple fields, including drug discovery and molecular pathology, with cohorts in the government sector. Hence, the government's investments in cancer research and drug discovery are expected to fuel the progress of the compound management market in Canada.
The key companies involved in the market include TCG Lifesciences Pvt Ltd, Beckman Coulter Inc, Axxam SpA, Brooks Life Sciences, SPT Labtech, Bioascent, Tecan Trading AG, Highres Biosolutions, Icagen Inc, Hamilton Company, Titian Software AG , Evotec , Liconic Systems, Biosero Inc, and WuXi AppTec.
Beckman Coulter Inc is a multinational company that develops, manufactures, and promotes diagnostic systems. It offers drug monitoring and detection, early sepsis indicator, and life science products. The Power Link Workcell, one of the company's products, helps minimize manual tasks, and reduces biohazard risks. The company has more than 275,000 systems that operate in diagnostics and life science laboratories worldwide.
Key Topics Covered:
1. Global Compound Management Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Growth in New Diseases Increases Need for R&D and Compound Management
2.2.2. Rise in Compound Management Market Consolidation
2.2.3. Increase in Personalized Medicine Creates Opportunities for Market
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Market Drivers
2.6.1. Increase in R&D Activities in Pharmaceutical and Biotech Sectors
2.6.2. Growth in Clinical Trials
2.6.3. Biobanking Sector Pushing Growth of Market
2.7. Market Restraints
2.7.1. Incompatibility with Global Systems
2.8. Market Opportunities
2.8.1. Growing Demand for Specialized Testing Services
2.8.2. Growth Opportunities in Developing Countries
2.9. Market Challenges
2.9.1. Dearth of Skilled Professionals
2.10. Impact of COVID-19 on Compound Management Market
3. Global Compound Management Market Outlook - by Offering
220.127.116.11. Automated Compound/Sample Storage Systems
18.104.22.168. Manual Compound/Sample Storage Systems
22.214.171.124. Automated Liquid Handling Systems
3.1.2. Software AG
4. Global Compound Management Market Outlook - by Sample Type
4.1. Chemical Compounds
5. Global Compound Management Market Outlook - by Application
5.1. Drug Discovery
5.2. Gene Synthesis
6. Global Compound Management Market Outlook - by End-User
6.1. Pharmaceutical Companies
6.2. Biopharmaceutical Companies
6.3. Contract Research Organisation
7. Global Compound Management Market - Regional Outlook
7.1. North America
7.4. Latin America
7.5. Middle East and Africa
8. Competitive Landscape
8.1. Axxam Spa
8.2. Beckman Coulter Inc
8.4. Biosero Inc
8.5. Brooks Life Sciences
8.7. Hamilton Company
8.8. Icagen Inc
8.9. Liconic Systems
8.10. TCG Lifesciences PVT Ltd
8.11. Tecan Trading Ag
8.12. Titian Software AG
8.13. SPT Labtech (Name Changed from TTP Labtech)
8.14. Wuxi Apptec
8.15. Highres Biosolutions
9. Methodology & Scope
9.1. Research Scope & Deliverables
9.2. Sources of Data
9.3. Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/z5xgie
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