Automated Sample Storage Systems Market Size & Share, By Product (Automated Compound Storage Systems, Automated Liquid Handling Systems), Sample Type, End-user, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Automated Sample Storage Systems Market was over USD 1.02 Billion in 2023 and is likely to surpass USD 2.33 Billion by end of the year 2032, growing at over 11.4% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 1.02 Billion
• CAGR (2024-2032): 11.4%
• Forecast Year Value (2032): USD 2.33 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One major growth driver for the Automated Sample Storage Systems Market is the increasing demand for high-throughput screening in pharmaceutical and biotechnology companies. With the rising need for faster and more efficient processes in drug discovery and development, automated sample storage systems provide a solution for storing and retrieving large volumes of samples quickly and accurately. This demand is expected to drive the market growth significantly in the coming years.

Another important growth driver for the market is the growing adoption of personalized medicine and precision medicine approaches in healthcare. Automated sample storage systems play a crucial role in storing clinical samples and genetic material for personalized medicine applications. As the implementation of personalized medicine continues to expand, the demand for automated sample storage systems is expected to increase, driving market growth.

Furthermore, advancements in technology, such as robotics and automation, are driving the innovation and development of more efficient and reliable automated sample storage systems. These technological advancements enable increased sample capacity, improved sample management, and reduced human error, leading to greater adoption of automated sample storage systems in various research and testing laboratories.

Report Scope

Report Coverage	Details
Segments Covered	Product, Sample Type, End-User
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Thermo Fisher Scientific, Beckman Coulter, Hamilton Company, Azenta US, MEGAROBO, SPT Labtech., LiCONiC AG, MICRONIC, ASKION, Haier Biomedical

Industry Restraints:

One major restraint for the Automated Sample Storage Systems Market is the high initial investment required for setting up and maintaining automated sample storage systems. The cost of purchasing and installing automated sample storage systems can be significant, especially for small and medium-sized laboratories with limited budgets. This high initial investment may act as a barrier to entry for some potential customers, hindering market growth.

Another important restraint for the market is the lack of standardization in sample storage and retrieval protocols across different laboratories and research facilities. The lack of standardization can lead to compatibility issues between automated sample storage systems and other laboratory equipment, resulting in inefficiencies and delays in sample management processes.

Regional Forecast:

North America:

The North America region, comprising the United States and Canada, is expected to hold a prominent share in the automated sample storage systems market. The presence of established pharmaceutical and biotechnology companies, coupled with technological advancements in the healthcare sector, is anticipated to drive market growth in this region. Additionally, the increasing focus on personalized medicine and precision healthcare is likely to boost the demand for automated sample storage systems in North America.

Asia Pacific:

In the Asia Pacific region, countries such as China, Japan, and South Korea are expected to witness significant growth in the automated sample storage systems market. The increasing investment in research and development activities, along with the rising adoption of advanced healthcare technologies, is projected to drive market growth in this region. Furthermore, the growing prevalence of chronic diseases and the need for efficient sample management systems are likely to fuel the demand for automated sample storage systems in Asia Pacific.

Europe:

Europe, comprising countries such as the United Kingdom, Germany, and France, is expected to emerge as a key market for automated sample storage systems. The presence of a well-established healthcare infrastructure, coupled with the increasing adoption of automated solutions in laboratories and research facilities, is likely to propel market growth in this region. Moreover, stringent regulatory requirements and the need for accurate sample handling are anticipated to drive the demand for automated sample storage systems in Europe.

Segmentation Analysis:

In terms of segmentation, the global automated sample storage systems market is analyzed on the basis of Product, Sample Type, End-User.

1. Automated Compound Storage Systems:

Automated compound storage systems segment is expected to witness significant growth in the global market. The demand for automated compound storage systems is increasing due to the rising adoption of high-throughput screening technologies in research and drug discovery processes. These systems are used for storing and managing large libraries of chemical compounds efficiently, thereby driving their market growth. Moreover, the advancements in robotics and automation technologies are further enhancing the efficiency and accuracy of these systems, propelling their demand in the market.

2. Automated Liquid Handling Systems:

The automated liquid handling systems segment is anticipated to exhibit substantial growth in the Automated Sample Storage Systems market. These systems are widely used in laboratory settings to automate the process of dispensing liquids accurately and efficiently. With the increasing focus on enhancing workflow efficiency and reducing manual errors in sample handling, the demand for automated liquid handling systems is projected to increase. The integration of advanced technologies such as robotics and artificial intelligence in these systems is expected to drive their market growth further.

3. Sample Type Analysis:

In terms of sample type, the Automated Sample Storage Systems market can be segmented into biological samples, chemical compounds, and others. The biological samples segment is expected to hold a significant market share due to the growing adoption of automated sample storage systems in biobanking, clinical research, and pharmaceutical industries. The increasing need for efficient sample management and preservation of biological materials is driving the demand for automated sample storage systems in this segment. Moreover, the chemical compounds segment is also expected to witness steady growth owing to the rising demand for automated compound storage systems in drug discovery and development processes.

4. End-user Analysis:

The end-user segment of the Automated Sample Storage Systems market includes pharmaceutical and biotechnology companies, academic and research institutes, contract research organizations, and others. Among these, pharmaceutical and biotechnology companies are anticipated to account for a significant market share due to the high adoption of automated sample storage systems for drug discovery and development activities. The need for efficient sample management and retrieval systems in these organizations is boosting the demand for automated storage solutions. Additionally, academic and research institutes are also expected to contribute substantially to the market growth, driven by the increasing focus on high-throughput screening and research automation.

Competitive Landscape:

The competitive landscape in the Automated Sample Storage Systems Market is characterized by intense competition among key players striving to gain a larger market share through strategies such as product innovations, partnerships, mergers and acquisitions. The market is witnessing a growing demand for efficient and automated sample storage solutions, leading to the entry of several new players in the market. Additionally, advancements in technology such as robotics and artificial intelligence are driving the market growth further, increasing the competition among players to stay at the forefront of innovation and meet the evolving needs of customers.

Top Market Players:

1. Thermo Fisher Scientific Inc.

2. Brooks Life Sciences

3. Becton, Dickinson and Company

4. Hamilton Company

5. TTP Labtech Ltd.

6. LiCONiC Instruments AG

7. Angelantoni Life Science

8. ASKION GmbH

9. Tsubakimoto Chain Co.

10. Matrix Technologies GmbH