The Asia Pacific Compound Management Market would witness market growth of 16.6% CAGR during the forecast period (2022-2028).
Compound Management or Compound Control is the term used to describe the management of these chemical libraries, which includes the replacement of out-of-date chemicals, databases comprising the information, robotics frequently used to retrieve chemicals and quality assurance of the storage environment. For one or more people who oversee a chemical collection at a research facility, compound management is frequently a considerable expense as well as a vocation.
Compound management is now a crucial technological element for chemical genomics and high-throughput screening. Compound management presents significant difficulties, but they are being overcome due to coordinated efforts in both the public and private spheres. Authors from the Chemical Genomics Center at the National Institutes of Health published a report in 2008 that demonstrated the need for a highly automated, dependable, and parallel compound management platform to support over 200,000 distinct compounds.
Emerging economies like China and India are anticipated to develop into significant manufacturing hubs for pharmaceutical and biotech products. Factors include low costs of labor and raw materials, increased life science research, government support, and technology advancements. Several Asian governments have allocated large sums of money to support biosciences research. To make India a leader in biotechnology research, the Department of Biotechnology (DBT) is working with government-funded organizations like the National Biotechnology Board (NBTB).
The China market dominated the Asia Pacific Compound Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $85 million by 2028. The Japan market is estimated to grow a CAGR of 15.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 17.3% during (2022 - 2028).
Based on Type, the market is segmented into Products (Automated Compound/Sample Storage Systems, Automated Liquid Handling Systems, and Others) and Services. Based on Application, the market is segmented into Drug Discovery, Gene Synthesis, Bio Banking, and Others. Based on Sample Type, the market is segmented into Chemical Compounds and Bio Samples. Based on End User, the market is segmented into Pharmaceutical Companies, Biopharmaceutical Companies, Contract Research Organizations, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Compound Management Market is Projected to reach USD 1.1 Billion by 2028, at a CAGR of 15.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danaher Corporation (Beckman Coulter), Azenta US, Inc., Hamilton Company, BioAscent, Evotec SE, SPT Labtech Ltd., Tecan Group Ltd., Titian Software, LiCONiC AG, and AXXAM S.p.A.
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