The anticipated size of the Automated Sample Storage Systems Market in 2022 was USD 1004.7 million and is estimated to be USD 1100 million in 2023 exhibiting a CAGR of 11.6%.
Automated sample storage systems consist of various factors like benefits performed by appropriateness through laboratories, and quantity of managing huge volumes of fragments are projected for expanding and supporting the market.
Fundamental benefits of automated systems are high efficiency, enhanced sample security, improved sample integrity, and reduction in technician costs. Moreover, an increase in research and development activities and investments made by pharmaceutical companies, and improvements in robotics and automation technologies are other factors expediting market growth ahead.
Future Market Insights has mentioned in its reports that the automated sample storage systems market is projected to expand at a CAGR of 11.6% between 2023 and 2033, totaling around USD 3298.7 million by 2033.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2022) | USD 1004.7 million |
| Projected Forecast Value (2023) | USD 1100 million |
| Projected Forecast Value (2033) | USD 3298.7 million |
| Growth rate | 11.6% CAGR |
| Forecast period | 2023 to 2033 |
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The global automated sample storage systems market grew at a CAGR of 9.4% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 11.6% between 2023 and 2033.
The increasing number of research and development actions in the life science and pharmaceutical industries is expected to benefit the market during the forecast period. Benefits like cost-effectiveness on the ground of reduced labor expenses and an improvising security environment are other factors augmenting the market size in the forecast period. Moreover, sample storage systems are relatively simple and small storage operating devices, which can significantly boost their demand in the market during the forecast period.
Growing initiatives by players to launch novel products are anticipated to widen the market size in the forecast period. For example, in February 2022, Hamilton Storage expanded the Verso Q-Series Automated Sample Storage Systems. New Verso Q50 and Verso Q75 Automated Sample Systems are likely to offer compact walkaway sample storage, and access to decrease manual labor and enhance overall laboratory efficiency. Further, these factors are expected to drive market growth during the forecast period.
Growth in Research and Development
The global automated sample storage systems market is expected to be notably driven by the growing research and development activities across sectors such as the biotechnology sector and pharmaceutical. Moreover, benefits offered by automated sample storage systems like complete control over environmental conditions, reduced labor cost, a better workplace, and real-time traceability are other vital factors driving the market in the forecast period.
The launch of new products is anticipated to widen the market size in the forecast period. For instance, in November 2018, Oxford Instruments announced the launch of their new sample automation system MQ-Auto, which is specifically designed for the MQC+ range of benchtop NMR analyzers where this system boosts productivity and can be used without any experts. Such factors are expected to benefit the market during the forecast period.
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High Expenses Involved in Training of Personnel
High costs associated with automated sample storage systems are expected to hamper the market growth during the forecast period. Also, the demand for continuous electric supply and expenses involved in the training of personnel are other factors hindering the market growth in the forthcoming period.
The ongoing development and launch of new products in the market are projected to act as a significant counter to the market in the forecast period. For instance, in February 2018, Brooks Automation, Inc. announced the launch of the FluidX AcoustiX Sample tube for enhanced efficiency and optimization of high-throughput compound management, developed in a strategic collaboration with Labcyte, Inc, and AstraZeneca. Owing to such factors, the market is anticipated to develop in the forecast period.
The Presence of Giant Players in the United States Market is Raising the Demand in the Global Automated Sample Storage Systems Market
The global automated sample storage systems market is anticipated to be dominated by North America where the region secured 42.1% of the global market share in 2022.
The United States of America is anticipated to make a significant contribution to developing the market holding a key part of the market share consisting of 37.8%.
Moreover, the domination of the market can be attributed to the presence of giant players making a notable contribution to developing the regional market. For instance, in May 2017, Brooks Automation, Inc. announced the launch of BioStore IIIv, the industry’s first 80-degree LN2 Automated Storage System for storing biological samples.
Increasing efforts to expand players’ reach is another factor that can propel market growth in the forecast period. For instance, in February 2021, Hamilton Storage announced that Hamilton BioOS ® automated sample storage system will be installed as a part of a shared biorepository for storing biological material at Emory University’s new Woodruff Health Sciences Center Health Sciences Research Building (HSRB)-II. Such initiatives are expected to benefit the regional market during the forecast period.
Rise in the Number of Biobanks and Contract Research Organisations
The market in Europe is expected to be the second most flourishing, across the globe. The region procured about 34.2% of the global market share in 2022. The United Kingdom is anticipated to make the dominant position and its contribution to developing the market in the forthcoming period is said to expand at a CAGR of 10.1%.
The growth of the regional market can be attributed to ongoing research and development. Further, the increasing number of biobanks, as well as contract research organizations, are expected to offer growth opportunities in the forecast period. Owing to such factors, the market in Europe is anticipated to develop significantly in the coming time.
Government-led Research and Development Initiatives are Taken
Germany’s automated sample storage systems market accounted for a growth share at a CAGR of 10.6% in 2022. The dominant position of Germany in the market can be characterized due to the availability of key market players and important government-led research and development initiatives in this market region.
The Presence of Developed and Advanced Technologies
Japan itself is one of the most developed nations and has its presence for various developed and advanced technologies that might help in the robust demand of the automated sample storage systems market thus witnessing a market share of 2.4%
Costs for Automated Sample Storage Systems in India’s Market are Reasonable
The automated sample storage systems market in India is considered to be a great choice as the cost of such storage system parts are feasible in India and people can easily repair them whenever a problem is arising, thus raising and dominating the market at a CAGR of 16.6%
Economic Growth Helps China to Hold a Leading Position in the Market
Growth in the economy for the automated sample storage systems market has led to enormous growth in China market holding a leading position at a CAGR of 17.6%
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Biopharmaceutical Industries are Said to Dominate the Market
Biopharmaceutical companies accounted for the most dominant market share for automated sample storage systems due to the rise in demand for compound storage in drug discovery applications having a value of market share of 47.90%.
System Unit is Said to Grow in the Market
The system unit segment dominates the global automated sample storage systems market, accounting for the significant growth in the market share during the forecast period owing to the rise in demand and approval of automated sample storage systems globally holding a market share of 67.30%.
Competitive Analysis
Some of the prominent players working in the global market are:
Some of the Important Developments of the Key Players in the Market
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.6% from 2023 to 2033 |
| Market value in 2023 | USD 1100 million |
| Market value in 2033 | USD 3298.7 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Country, By Type, By End-user |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Hamilton Company; Exact Sciences; Thermo Fisher Scientific; Brooks Automation; TTP Labtech; Swisslog; Angelantoni Life Science; Panasonic Healthcare; Haier Biomedical; Liconic AG |
| Customisation Scope | Available on Request |
The market is slated to reach USD 3298.7 million by 2023.
The market is anticipated to reach 11.6% CAGR by 2033.
Historically, the market advanced at a CAGR of 9.4%.
High costs may restrict the growth of the market.
Research and development activities and investments to influence market growth.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. System Unit 5.2. Reagents and Consumables 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 6.1. Hospitals 6.2. Diagnostic Labs 6.3. Chemical Industries 6.4. Biopharmaceutical Industries 6.5. Research Laboratories 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Hamilton Company 17.2. Exact Sciences 17.3. Thermo Fisher Scientific 17.4. Brooks Automation 17.5. TTP Labtech 17.6. Swisslog 17.7. Angelantoni Life Science 17.8. Panasonic Healthcare 17.9. Haier Biomedical 17.10. Liconic AG 18. Assumptions & Acronyms Used 19. Research Methodology
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Automated Sample Storage Systems Market
