The automated sample storage systems market is expected to grow at a CAGR of 20% during the forecast period of 2023 to 2030. The increasing amount of research and development activities taking place in the life science and pharmaceutical industries all over the world is the primary reason acting as a driving force behind the expansion of the automated sample storage systems market. Additionally, the advantages of cost-effectiveness on the ground of reducing labor expenses and improving the security environment also work as a propelling factor for the growth of the automated sample storage systems market. This market is expected to reach a value of over $1 billion by 2025. There is a high probability that the expansion of the automated sample storage systems market will be slowed down by the increasing number of research and development activities taking place in the biotechnology and pharmaceutical industries all over the world. Despite this, one of the primary reasons that are most likely to impede the growth of the automated sample storage systems market is the high installation and maintenance expenses works.
The increasing adoption of ASRS across a variety of business verticals is the primary factor driving the expansion of the market. The implementation of ASRS helps a variety of sectors improve the efficiency of their operations for storing materials and products and provides additional space in warehouses and manufacturing plants. It is anticipated that this will further reduce the possibility of mishaps occurring during the stacking of materials and will speed up the operation operations. Automated storage and retrieval systems are currently experiencing widespread adoption across a variety of industry verticals, including the food and beverage, aviation, and automotive sectors. For example, in August 2020, Swisslog Holding AG, a global leader in warehouse automation, successfully planned, installed, and implemented a fully-automated retrieval solution for Mai Dubai, a leading bottled drinking water company based in Dubai. This project was completed by Swisslog Holding AG.
Increasing Emphasis on R&D
During the forecast period, the market is anticipated to demonstrate considerable growth as a result of an increase in the number of research and development activities and biobanking sectors. Nevertheless, the demand for uninterrupted electricity as well as the high expenses of installation and maintenance may be able to slow down the expansion of the market. Recent years have seen a rise in research and development activity in the pharmaceutical industry as a direct result of technological developments and the introduction of novel medication compounds. In addition, as a direct response to the COVID-19 pandemic, many national governments have begun providing financial support to the pharmaceutical industry in order to encourage the development of novel medication compounds that can stop the virus from spreading. According to the annual report published by Thermo Fisher Scientific Inc. in 2021, the company's research and development expenses in 2021 totaled USD 1,406 million, which was an increase from the USD 1,181 million spent in 2020. Over the course of a year, the company's spending on research and development went up by 19%. Another illustration of this may be found in Agilent Technologies' annual report for the year 2021, which said that the company's expenditures on research and development had increased to USD 246 million in 2021 from USD 219 million in 2020. As a result, the expansion of this industry is being driven by an increase in the costs of R&D. The expansion of biobanking services is being fuelled by increased funding for research and development into cutting-edge therapeutic approaches like cancer genomics research, regenerative medicine, and customized medicine. In addition, the appearance of COVID-19 has positioned biobanks at the forefront of the pandemic control measures, which has led to the expansion of the market.
Need for Automation to Enhance Efficiency to Expand the Market
Automated storage solutions provide efficiencies in drug discovery workflows by eliminating the time-consuming hassle of manual reagent and compound management as well as the risk of mishandling or other errors. These efficiencies lead to a reduction in the overall amount of time spent on drug discovery. This market is being propelled forward at an accelerated rate by technological development. A fully integrated local compound storage and liquid handling system were designed and implemented in order to automate the generation of assay-ready plates directly from newly submitted and cherry-picked compounds. This was done in order to meet the demands of the increasingly rapid and parallelized lead optimization process. The capability of the system to generate project- or assay-specific compound-handling methods, which enable flexibility for any combination of plate types, layouts, and plate bar codes, is one of its most important features. These methods can be used to perform compound-handling tasks. The flexible and integrated combination of software and hardware provides a basis for reducing cycle time, fully automating compound processing, and ultimately increasing the rate at which accurate, biologically relevant results can be produced for compounds of interest in the lead optimization process. These goals can be accomplished by using the software and hardware in combination.
Advancing Features Remain in Key Demand
Pharmaceutical and biotechnology companies that conduct high-throughput screening, high-content screening, and molecular cell biology are now reaping the benefits of a new generation of automated incubators and storage solutions. These incubators and solutions offer a large capacity, quick access, and a wide temperature range. Additionally, they help eliminate contamination issues that can arise in high-throughput environments. For instance, in 2021, Thermo Fisher Scientific Inc. introduced Cytomat 24 automated incubators and storage systems. These systems brought the most recent technology for incubation to large-capacity microplate incubation applications, and they featured excellent temperature uniformity and stability, which ensured reproducibility for cell culture applications. In order to cater to the requirements of high-throughput laboratories and quicken the pace of research, the system is equipped with a sophisticated plate shuttle that allows for the rapid delivery of microtiter plates. As a result, the automated compound storage systems segment is anticipated to experience substantial expansion over the course of the forecast period as a consequence of the aspects that have been described above.
The need for Continuous Electricity and the High Cost of Installation is Key Market Barriers
As a result of the aforementioned factors, it is anticipated that the market would demonstrate considerable growth throughout the duration of the projection. However, because of the necessity of uninterrupted electricity as well as the high costs of installation and maintenance, the expansion of the market over time may be slowed down.
The Overall Market for Automated Storage and Retrieval Systems Is Expected to Be Led by The Unit-Load ASRs Segment
In terms of load, ASRs held the highest revenue share in the year 2021. The growing requirement to meet shipping deadlines at peak periods, the growing desire to boost business competency, and the expanding acceptance of unit-load automated storage systems are mostly to blame for this segment's substantial proportion of the market. It is anticipated that the introduction of cutting-edge technology into process handling and shipping operations, as well as an increasing desire to save costs associated with incineration, will drive the growth of this market.
In 2021, The Floor Robots Sector Dominated the Market
It is anticipated that the floor robots segment will account for the greatest proportion of the global automated storage and retrieval systems market in 2021. This is based on the fact that floor robots are the most common type. The increasing adoption of floor robots in the e-commerce industry, the growing demand for floor robots for effective order fulfillment operations, and the rising requirement to optimize supply chain management are the primary factors that are driving the big proportion of this segment's market. On the other hand, it is anticipated that the vertical lift modules sector would have the greatest CAGR throughout the course of the forecast period. The rapid growth of this segment can be attributed to a number of factors, including the increasing demand for VLM for storage and picking applications in the retail industry, the rising need for increased storage capacities, the growing demand for VLM for effective inventory management, and the increasing deployments of VLM by leading ASRS players.
Storage Segment Held the Largest Revenue Share
When considering applications, the storage sector held the highest proportion of global revenues in the year 2021. The rise in popularity of online shopping channels, the rising need for novel storage solutions, and the growing awareness of the importance of minimizing the risk of industrial accidents are the primary factors that have contributed to the substantial growth of this market sector. It is also anticipated that the increased need for automated cold chain storage for essential healthcare supplies would further support the quick expansion of this segment during the projected period.
Biological Sample Dominated the Sample Type Segment
In terms of sample type biological samples dominated the market in 2021. Because biobanks and research laboratories are increasingly turning to automated processes, the biological sample storage subsegment of the automated sample storage systems market accounted for the biggest share of the market.
Pharma & Biotech Companies Remain the Dominant End Users
Because of the rising demand for compound storage in drug discovery applications from pharmaceutical and biotech companies, these industries accounted for the largest market share of automated sample storage systems in 2021. This was due to the fact that these industries produced the most automated sample storage systems. It is therefore anticipated that the increased government support for drug discovery initiatives in developed economies in the Western world will continue to be a key driver for the worldwide automated sample storage systems market in the years to come.
Less than 100K Capacity Dominated the Capacity Segment
As a result of the significant demand for storage systems with limited capacities coming from biobanks and research laboratories, the sector of the automated sample storage systems market that deals with less than 100 thousand samples held the greatest share in 2021.
North America Remained the Market Leader with Highest Revenue Contribution in 2021
In the year 2021, the market for Automated Sample Storage Systems in the U.S. dominated the market due to a combination of factors including the ready availability of technologically advanced products, a robust network of suppliers, and established healthcare infrastructure. Growth in the automated sample storage market in North America is being fuelled in part by the presence of a number of the most prominent biobanks and research institutes from across the world. The need for innovative systems is being fuelled by ongoing research and development projects. Additionally, the developments that have been made in the pharmaceutical industry are helping to feed the demand for innovative technology in this region. New opportunities for expansion are becoming available to market participants as a direct result of the enormous development in the number of both biobanks and contract research firms. The expansion of this market in the North American region is being fuelled by the combined effects of all of these contributing factors.
The continually increasing cost of labor is one aspect that is contributing to the growing need for automated warehouses in the region. The rapid expansion of online retail is another factor that is contributing. Private biobanks and academic research laboratories are among the most common users of automated sample storage systems. This is in addition to the growing number of biotechnology and pharmaceutical corporations that are using such systems. For example, in March 2023, an article titled "Biobanking Concepts Specific for Developing Countries" reported that the region of North America had the highest density of biobanks reported worldwide. Biobanks have the primary responsibility of ensuring that all of their operations and materials are managed in accordance with standardized processes and best practices in order to protect and maintain the integrity of their samples. When working with a high number of biospecimens, automation of sample handling and storage is frequently the method of choice for maintaining and improving sample integrity. This is especially true when working with huge numbers of samples. The growing number of biobanks that have been reported in the region has consequently led to an increase in the amount of sample storage space, which is boosting the market in the region.
APAC Region Leads the Growth with China Holding the Largest Market Potential
China, the world's second-largest economy, is anticipated to grow at a CAGR of 21.3% during the forecast period of 2023 to 2030. Because contract research organizations, research laboratories, and biobanks in the Asia Pacific are increasingly adopting automated sample storage systems, the region is anticipated to have the highest growth rate over the course of the forecast period. The regional market is likely to have a projected CAGR of 19.4%, which is expected to propel the market.
R&D to Empower Companies to Enhance Market Ranking
The market remains consolidated by a few companies that are dominating the market. The key companies in this market include Brooks Automation, TTP LabTech, Thermo Fisher Scientific Inc., Hamilton Company, Angelantoni Life Science, Panasonic Healthcare, Biotron Healthcare, Haier BioMedical, ASKION GmbH, and LiCONiC AG, among others. Tsubakimoto Chain and others. The key companies are focusing on R&D initiatives to enhance their market presence. The strategic collaboration is also one of the key strategies adopted by tier-one market players.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automated Sample Storage Systems market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
