The Europe Compound Management Market would witness market growth of 14.8% CAGR during the forecast period (2022-2028).
The methods by which numerous distinct compounds are tested for their activity are essential to drug discovery. These substances are kept in physical form in one or more chemical libraries, frequently put together using materials from external suppliers and in-house chemical synthesis projects. High-throughput screening is carried out using these chemical libraries as a hit-to-lead drug discovery process.
More giant pharmaceutical corporations' chemical libraries play a crucial role in the discovery process. These compounds are kept in small or big containers under environmental control, frequently tagged with codes that connect to databases. Every chemical in the storage bank needs to have its shelf life, amount, purity, and other attributes as well as its storage location maintained. In some businesses, biological substances like purified proteins or nucleic acids may also be included in the chemicals.
In 2008, German pharmaceutical firms created medications with a EUR 27.1 billion market value. This is an increase of roughly 4% over 2007 output levels. In the triad region, Germany is the fourth-largest pharmaceutical producer, and its share of total triad medication production in 2008 was about 8%. Germany is Europe's major manufacturer of biopharmaceuticals, with the second-largest fermenter capacity behind the United States. Drugs made by genetic engineering are becoming more prevalent: In 2009, the German biopharmaceutical market reported sales of EUR 4.7 billion, up 5.4% from the year before.
The Germany market dominated the Europe Compound Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $71.9 million by 2028. The UK market is anticipated to grow at a CAGR of 13.8% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 15.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Compound Management Market will Hit $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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