The automated sample storage systems market is expected to rise at a CAGR of 20% during the forecast period of 2023 to 2030. Increasing R&D in the life science and pharmaceutical industries worldwide is driving the automated sample storage systems market. Cost-effectiveness in decreasing labour costs and boosting security also drives the automated sample storage systems industry. This market might reach $1 billion by 2025. Increasing R&D in the biotechnology and pharmaceutical industries will likely slow the growth of the automated sample storage systems market. High installation and maintenance costs may hinder the growth of the automated sample storage systems market.
Increasing ASRS use across business sectors is driving the market growth. ASRS helps increase the efficiency of storing resources and products in warehouses and industrial plants. This should decrease accidents during material stacking and speed up processes. Food and beverage, aviation, and automotive industries are using automated storage and retrieval systems. Swisslog Holding AG, a global pioneer in warehouse automation, developed, constructed, and implemented a fully-automated retrieval system for Mai Dubai in 2020.
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The industry is expected to grow because of an increase in R&D and biobanking. Uninterrupted electricity and expensive installation and maintenance costs may hinder the market growth. Technological advances and the introduction of novel drug ingredients have boosted pharmaceutical R&D in recent years. As a direct response to the COVID-19 pandemic, numerous national governments have begun supporting the pharmaceutical sector to create novel drug ingredients that can stop the virus from spreading. Thermo Fisher Scientific Inc.'s R&D spending in 2021 was USD 1,406 million, up from USD 1,181 million in 2020. The company's R&D investment rose 19% last year. Agilent Technologies 2021 annual report shows that the company's R&D spending climbed to USD 246 million from USD 219 million in 2020. Increasing R&D spending is fuelling this industry's growth. Increased financing for cancer genomics research, regenerative medicine, and tailored medicine are fuelling the growth of biobanking services. COVID-19 has placed biobanks at the forefront of pandemic control measures, expanding the market.
Automated storage systems improve drug discovery workflows by reducing the time-consuming headache of manual reagents and compound management. These efficiencies cut drug discovery time. Technology is accelerating this market's growth. Fully integrated local compound storage and liquid handling system designed to automate the creation of assay-ready plates from newly submitted and cherry-picked compounds. This was done to fulfil the demands of the rapidly parallelizing lead optimization process. The system's capacity to build project- or assay-specific compound-handling procedures allow for flexibility in plate types, layouts, and bar codes. These methods handle compounds. The versatile and integrated combination of software and hardware reduces cycle time, fully automates compound processing, and increases the pace of accurate, biologically relevant lead optimization findings. Software and hardware can achieve these goals.
Pharmaceutical and biotechnology businesses that do high-throughput screening, high-content screening, and molecular cell biology are now using automated incubators and storage solutions. These incubators and solutions are large, quick to reach, and temperature-controlled. In high-throughput environments, they reduce contamination. Thermo Fisher Scientific Inc. released Cytomat 24 incubators in 2021. These systems applied the latest incubation technology to large microplate incubation applications, ensuring consistency for cell culture applications. The system includes a plate shuttle to meet the needs of high-throughput labs and speed up research. Due to the above-mentioned factors, the automated compound storage systems segment is expected to grow substantially throughout the projection period. Due to the above factors, the market is expected to grow throughout the projection. However, the need for uninterrupted electricity and hefty installation and maintenance expenses may restrict market growth over time.
2021 ASRs had the highest load revenue share. This segment's large market share is due to the increased need to satisfy shipping deadlines during peak periods, the desire to improve business competency, and the acceptance of unit-load automated storage systems. Cutting-edge technology in process handling and shipping operations, as well as a growing desire to save on incineration expenses, will fuel market expansion.
The global automated storage and retrieval systems market will be dominated by floor robots in 2021. Floor robots are the most common. Increasing acceptance of floor robots in the e-commerce industry need for floor robots for effective order fulfilment, and the need to optimise supply chain management are boosting this segment's market. Vertical lift modules should have the highest CAGR during the projection period. The significant expansion of this market is due to the increasing need for VLM for retail storage and picking applications, the rising requirement for expanded storage capacity, the growing demand for VLM for effective inventory management, and the increasing deployments of VLM by leading ASRS companies.
2021 storage applications generated the most global revenue. The rise of online shopping channels, the necessity for creative storage solutions, and the need of minimising industrial accident risk have all contributed to the growth of this market segment. Increased demand for automated cold chain storage for key healthcare supplies is expected to boost this segment's growth over the forecast period.
Pharmaceutical and biotech firms accounted for the greatest market share of automated sample storage systems in 2021. Due to their automated sample storage techniques, these industries dominated. Increased government support for drug development activities in developed economies will drive the global automated sample storage systems market in the coming years. Due to demand from biobanks and research labs for storage systems with modest capacity, the segment of the automated sample storage systems market that handles less than 100,000 samples held the largest share in 2021.
In 2021, the U.S. dominated the market for Automated Sample Storage Systems because of the availability of innovative products, a robust network of suppliers, and established healthcare infrastructure. Several of the world's most important biobanks and research organisations are boosting the automated sample storage industry in North America. Ongoing R&D fuels the need for novel systems. Pharmaceutical industry advances are also fuelling demand for innovative technology in this region. As biobanks and contract research organisations proliferate, market actors have new expansion prospects. These reasons are fuelling the market's growth in North America. Increasing labour costs are driving demand for automated warehouses in the region. Online retail's quick growth also helps. Private biobanks and academic labs utilise automated sample storage systems. Biotechnology and pharmaceutical companies also use such systems. "Biobanking Concepts Specific for Developing Countries" announced in March 2023 that North America has the most biobanks worldwide. Biobanks must manage their operations and materials according to established methods and best practices to protect and preserve their samples. Automation of sample handling and storage is often used to improve sample integrity when working with several biospecimens. This is especially true with many samples. The region's expanding number of biobanks has increased sample storage capacity, strengthening the market. China's economy is expected to rise by 21.3% from 2023 to 2030. The Asia Pacific is expected to have the fastest growth rate throughout the projection period because CROs, labs, and biobanks are embracing automated sample storage systems. The APAC market is expected to grow at a CAGR of 19.4% during the forecast period.
The market is consolidated with few firms dominating the market. Brooks Automation, TTP LabTech, Thermo Fisher Scientific Inc., Hamilton Company, Angelantoni Life Science, Panasonic Healthcare, Biotron Healthcare, Haier BioMedical, ASKION GmbH, and LiCONiC AG are among the industry leaders. Tsubakimoto Chain. Key companies focus on R&D to boost their market presence. Tier one market players often collaborate strategically.
