Market Size of Global Automated Sample Storage Systems Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | > 12.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Automated Sample Storage Systems Market Analysis
The Automated Sample Storage Systems Market is expected to register a CAGR of 12.0% over the forecast period (2022-2027).
COVID-19 has impacted the severely world and so had an impact on the automated sample storage systems market. The increasing incidence of COVID-19 cases leads to an increase in mass sample testing thereby, increasing the storage of samples. All types of laboratories need sample storage, irrespective of the type of sample being stored namely chemical or biological. Conventional freezers generally take up a large amount of highly valuable lab space, and present issues in ensuring sample quality, therefore automated sample storage is used to store the samples. The biological specimens of blood, saliva, urine, and others are collected for various purposes from patients and normal individuals for monitoring and conducting basic, clinical, and epidemiological research studies. On the other hand, compound storage refers to the storage of chemical libraries as well as bios samples that are used for clinical research and drug discovery purposes. The shift toward automation is leading to the growing prominence of automated biological sample storage systems. Automated freezer systems have enabled convenient storage as well as retrieval of samples.
With the increase in research and development activities and biobanking sectors, the market is expected to show significant growth over the forecast period. However, the requirement for consecutive electricity and high installation and maintenance costs may slow down the growth of the market. In recent years with advancements and the introduction of new drug molecules in the pharmaceutical market have led to an increase in R&D activities. Also, after the COVID-19 pandemic, many governments have initiated funding for pharmaceutical companies for the testing of new drug molecules to overcome the spread of this virus. For instance, the 2021 Thermo Fisher Scientific Inc. annual report, reported that the company's research and development expenses in 2021, were USD 1,406 million as compared to USD 1,181 million in 2020. The company's R&D expenses increased by 19% over a year. For another instance, in 2021, Agilent Technologies' annual report, reported that the company's R&D expenses were USD 246 million in 2021 as compared to USD 219 million in 2020. Thus, an increase in R&D expenses is driving the growth of this market. High investments in the R&D of advanced therapies, such as regenerative medicine, personalized medicine, and cancer genomic studies, are driving the growth of biobank sectors. Moreover, the onset of COVID-19 has put biobanks at the forefront of the pandemic control measures, resulting in the growth of the market.
Thus, due to the above-mentioned factors, the market is expected to show significant growth over the forecast period. However, the requirement for consecutive electricity and high installation and maintenance costs may slow down the growth of the market over the studied period.
Automated Sample Storage Systems Industry Segmentation
As per the scope of the report, automated sample storage systems are computer-controlled storage devices for the preservation of samples widely used in chemical, seed storage and management, medical material management, and life science domains. The automated sample storage systems market is segmented by Product Type (Automated Compound Storage Systems, Automated Liquid Handling Systems, and Other Products), Sample Type (Biological Samples, Chemical Compounds, and Other Sample Types), End-Users (Pharmaceutical and Biotech Companies, Chemical Industries, Private Biobanks, and Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
Products | |
Automated Compound Storage Systems | |
Automated Liquid Handling Systems | |
Other Products |
Sample Type | |
Biological Samples | |
Chemical Compounds | |
Other Sample Types |
End-Users | |
Pharmaceutical and Biotech Companies | |
Chemical Industries | |
Private Biobanks | |
Other End-Users |
Geography | ||||||||
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Global Automated Sample Storage Systems Market Size Summary
The automated sample storage systems market is poised for significant growth, driven by the increasing need for efficient sample management in laboratories across various sectors. The shift towards automation is becoming more prominent due to the limitations of conventional storage methods, such as freezers, which occupy valuable lab space and may compromise sample quality. Automated systems offer streamlined storage and retrieval processes, enhancing the efficiency of drug discovery workflows and reducing the risk of errors. The market is further bolstered by the rise in research and development activities, particularly in biobanking, personalized medicine, and cancer genomic studies, as well as the ongoing advancements in pharmaceutical research spurred by the COVID-19 pandemic. These factors collectively contribute to the growing demand for automated storage solutions, which are essential for managing the increasing volume of biological and chemical samples used in clinical research and drug development.
North America is expected to lead the automated sample storage systems market, supported by its advanced healthcare infrastructure, a robust network of suppliers, and a concentration of global biobanks and research institutions. The region's pharmaceutical sector advancements and the rapid growth of e-commerce are driving the demand for automated warehouses, further propelling market expansion. The presence of numerous biotechnology and pharmaceutical companies, along with private biobanks and academic research laboratories, underscores the region's pivotal role in the market's growth. The competitive landscape is characterized by a few key players, such as Brooks Automation, Thermo Fisher Scientific, and Hamilton Company, who are actively enhancing their offerings through strategic acquisitions and product innovations. These developments, coupled with the increasing need for standardized procedures in biobanking, are expected to sustain the market's upward trajectory in the coming years.
Global Automated Sample Storage Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Research Activities in Biopharmaceutical Industry and Bio Banking Sectors
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1.2.2 Reduced Labor Cost
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1.3 Market Restraints
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1.3.1 The Requirement for Consecutive Electricity
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1.3.2 High Installation and Maintenance Cost
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Products
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2.1.1 Automated Compound Storage Systems
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2.1.2 Automated Liquid Handling Systems
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2.1.3 Other Products
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2.2 Sample Type
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2.2.1 Biological Samples
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2.2.2 Chemical Compounds
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2.2.3 Other Sample Types
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2.3 End-Users
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2.3.1 Pharmaceutical and Biotech Companies
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2.3.2 Chemical Industries
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2.3.3 Private Biobanks
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2.3.4 Other End-Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United states
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Automated Sample Storage Systems Market Size FAQs
What is the current Global Automated Sample Storage Systems Market size?
The Global Automated Sample Storage Systems Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)
Who are the key players in Global Automated Sample Storage Systems Market?
Brooks Automation, Thermo Fisher Scientific, TTP LabTech, Hamilton Company and ASKION GmbH are the major companies operating in the Global Automated Sample Storage Systems Market.