The North America compound management market is expected to reach US$ 275.04 Mn in 2027 from US$ 89.75 Mn in 2018. The market is estimated to grow with a CAGR of 13.9% from 2019-2027.
Research and development (R&D) is a significant part of the company’s business. Pharmaceutical and biotech companies focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical as well as commercial potential. Companies invest majorly on the R&Ds to deliver comparatively innovative products in the market. R&D investment made by biopharmaceutical companies has increased over the years. As per a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015.
The US is expected to lead the market in the North America region to the rapidly increasing expenditure of research and development by pharmaceutical companies. Moreover, various pharmaceutical companies are focusing on the development of new leads and storing the enormous amount of how samples to third-party companies who are expertise in compound management. This helps to reduce the in-house R&D activities by outsourcing these studies through third party companies’ expertise in compound management. Therefore, considering the factors mentioned above, growth of the market in the US is likely to contribute the most significant share in the North America region during the forecast period.
Market Challenges:
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Shortage of Skilled Professionals:
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The lack of skilled professionals in the region could slow down market growth, as compound management requires specialized expertise.
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Market Segmentation:
The North America compound management market is segmented based on product & services, sample type, application, and end user:
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By Product & Services:
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Compound/Sample Management Products and Services
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By Sample Type:
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Chemical Compounds
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Biosamples
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By Application:
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Drug Discovery
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Gene Synthesis
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Biobanking
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By End User:
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Pharmaceutical Companies
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Biopharmaceutical Companies
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Contract Research Organizations (CROs)
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Regional Insights:
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The US is expected to dominate the North America compound management market due to its high R&D expenditures and the presence of major pharmaceutical and biotech companies.
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The trend of outsourcing compound management to third-party providers is particularly strong in the US, further driving market growth.
North America Compound Management Regional Insights
The geographic scope of the North America Compound Management refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Companies Profiled:
The market includes several prominent players offering compound management solutions:
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Biosero Inc.
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Meridian Bioscience
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Evotec
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Icagen, Inc.
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TCG Lifesciences Pvt. Ltd.
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TTP Labtech
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Frontier Scientific Services
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Hamilton Company
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Tecan Trading AG
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Brooks Life Sciences
Conclusion:
The North America compound management market is set for robust growth, driven by increasing R&D investments, outsourcing trends, and the rise in clinical trials. However, the shortage of skilled professionals remains a challenge. The US is expected to lead the market, supported by its strong pharmaceutical and biotech sectors. Companies specializing in compound management are well-positioned to capitalize on these growth opportunities.
