Automated Sample Storage Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Automated Sample Storage Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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.

Key Market TrendsThe Automated Compound Storage Systems Segment to Witness Significant Growth over the Forecast Period (2022-2027)

The automated storage solutions provide efficiencies in drug discovery workflows to eliminate the time-consuming hassle of manual reagent and compound management and the risk of mishandling or other errors. Technology and advancement are rapidly driving this segment. To meet the needs of the increasingly rapid and parallelized lead optimization process, a fully integrated local compound storage and liquid handling system were designed and implemented to automate the generation of assay-ready plates directly from newly submitted and cherry-picked compounds. A key feature of the system is the ability to create project- or assay-specific compound-handling methods, which provide flexibility for any combination of plate types, layouts, and plate bar codes. The adaptable 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.

Pharma and biotech laboratories performing high-throughput screening, high-content screening, and molecular cell biology are now benefiting from a series of new automated incubators and storage solutions that offer a large capacity, fast access, and wide temperature range while helping eliminate contamination issues in high-throughput environments. For instance, in 2021 Thermo Fisher Scientific Inc. introduced Cytomat 24 automated incubators and storage systems that bought the latest incubation technology to large capacity microplate incubation applications, with excellent temperature uniformity and stability that ensure reproducibility for cell culture applications. The system provides speedy delivery of microtiter plates through an advanced plate shuttle system to meet the needs of high-throughput laboratories and accelerate research.

Therefore, the automated compound storage systems segment is expected to witness significant growth over the forecast period due to the above-mentioned factors.

North America to Dominate the Automated Sample Storage Systems Market over the Forecast Period (2022-2027)

North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced products, well-established healthcare infrastructure, and a strong network of suppliers.

The presence of various leading global biobanks and research institutions is fostering growth for the automated sample storage market in North America. Ongoing research and development initiatives are fueling demand for the novel systems. Moreover, the advancements in the pharmaceutical sector are fueling the demand for advanced technologies in the region. A significant increase in the number of biobanks as well as contract research organizations is opening new avenues of growth for market participants. All these factors are together boosting the growth of this market in the North American region.

The rapid growth of e-commerce is driving the demand for automated warehouses in the region and steadily increasing labor costs are another contributing factor. Along with this increasing number of biotechnology and pharmaceutical companies, private biobanks, and academic research laboratories are some of the major users of automated sample storage systems. For instance, in March 2022 an article titled, "Biobanking Concepts Specific for Developing Countries" reported that the highest density of biobanks is reported in the North American region. The key mission of biobanks is to ensure that all activities and materials are managed according to standardized procedures and best practices to ensure and preserve sample integrity. When handling large numbers of biospecimens automation of sample handling and storage is often the method of choice to maintain and improve sample integrity. Thus, increasing biobanks reported in the region are leading to increasing storage of sample storage, thereby driving the market in the region.

Thus, due to the aforesaid mentioned reasons the automated sample storage systems market is expected to witness significant growth in the region.

Competitive Landscape

The automated sample storage systems market is consolidated in nature due to the presence of fewer companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as Brooks Automation, TTP LabTech, Thermo Fisher Scientific Inc., Hamilton Company, Angelantoni Life Science, Panasonic Healthcare, Biotron Healthcare, Haier BioMedical, ASKION GmbH, LiCONiC AG, and Tsubakimoto Chain.

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