Compound Management Market Set for Explosive Growth : Brooks Life Sciences,

Published Via 11Press : According to HTF MI, “Global Compound Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Compound Management Market is anticipated to grow at a compound annual growth rate (CAGR) of 15.8% from 2023 to 2028, reaching USD 4.8 Billion in 2023 and USD 7.6 Billion by 2028.

The management of chemical libraries is referred to as compound management. It entails the replacement of out-of-date chemical substances, databases with the data, robotic technology frequently used to retrieve the chemicals, and the manager of the best related to the storage environment. In a chemical library or libraries, which are commonly built from both backyard carriers and inside chemical synthesis operations, the chemical compounds are preserved as physical components. Compound administration is expected to face pressure in the market over the upcoming years due to rising demand for outsourced chemicals and biologics and the expansion of the biobanking industry.

Additionally, the market is expected to rise in the upcoming years due to the expanding medication discovery and transport duties. For the duration of the anticipated era, it is also anticipated that increasing collaboration and acquisition with the assistance of market knowledge and growing funding in the search & innovation of compound administration will fuel the market.

There are undoubtedly obstacles and limitations that can stop the market from expanding. Market limitations may be caused by variables including high funding costs and a lack of qualified professionals. Pharmaceutical R&D and new drug improvement initiatives are progressing, pharmaceutical pattern collection, storage, and transportation activities are expanding, demand for compound administration outsourcing services is growing, the use of compound administration structures in biobanking is expanding, and global educational research institutions and major pharmaceutical corporations are increasingly collaborating on research projects.

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Key and developing players who have been highlighted as part of the coverage

• Brooks Life Sciences (United States),
• Tecan (Switzerland),
• Hamilton Company (United States),
• TTP Group (UK),
• Labcyte (United States),
• Biosero (United States),
• Evotec (Germany).

Increased demand for new medications, the expansion of biopharmaceuticals, and technological improvements have all been identified as major drivers of compound management market growth. The discovery of novel drugs has been facilitated by the increasing importance of biopharmaceuticals, such as antibodies and recombinant proteins, in the pharmaceutical business. The creation of novel medications is a time-consuming, costly process that necessitates access to huge libraries of chemicals.

The market for compound management is anticipated to expand as the need for new medications rises, however, this rise in demand has been fueled by rising R&D spending. Automated compound management systems have been developed as a result of technological advancements. This can quickly and accurately process a huge number of samples, which frequently lowers costs and also boosts efficiency; hence, these reasons are the main factors driving the growth of the compound management market. There is a clear market trend at the global level. The important factors driving the growth of the compound management market are the rising use of automation and robots, the integration of artificial intelligence and cloud-based solutions, as well as the growing emphasis on sustainability.

Major Developments Activities in the Market: 

• The acquisition of Aim Lab Automation Technologies Pty by Brooks Automation US, which was announced in March 2023, further extends Brooks’ involvement in the clinical diagnostics sector beyond drug discovery.
• Together with PreciseFlexTM, Aim Lab will provide its clients with a wider range of capabilities. Following the completion of the acquisition of Rigenerand in July 2022, the Medolla, Italy-based cell technology company with a competitive edge in the cGMP manufacturing of cell treatments will now conduct business as Evotec (Modena) Srl.

Market Drivers

• Compound management market growth has been primarily fueled by rising demand for novel medications, the expansion of biopharmaceuticals, and technological advancements. The discovery of novel drugs has been facilitated by the increasing importance of biopharmaceuticals, such as antibodies and recombinant proteins, in the pharmaceutical business.
• The creation of novel medications is a time-consuming, costly process that necessitates access to…