Dublin, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The "Automated Sample Storage Systems Market Size, Share & Trends Analysis Report By Product (Automated Compound Storage Systems, Automated Liquid Handling Systems, Others), By Sample Type, By End-user, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global automated sample storage systems market size is expected to reach USD 2.12 billion by 2030. The market is estimated to register a CAGR of 11.2% from 2023 to 2030. In recent years, the application of advanced sample storage devices has increased significantly in the biotechnology, pharmaceutical, food & beverage, and chemical industries, which is fueling market growth. In addition, growing research activities for novel therapeutics development, coupled with several benefits associated with automation, are further driving industry growth. 
The growing demand for biobanks for the storage of specimens is projected to support industry growth. Biobanks play a crucial role in medical research and drug discovery by storing large quantities of biological samples. Thus, automated sample storage devices have higher demand in biobanks as they ensure proper sample preservation, retrieval, and tracking, which is necessary for maintaining sample quality and integrity. As per the journal of Biopreservation and Biobanking, the UK had more than 143 active biobanks in 2022. Thus, the rising number of biobanks is likely to fuel global market growth.
Moreover, the rising demand for novel therapeutics owing to the increasing burden of chronic disorders such as cancer and autoimmune diseases is anticipated to create significant demand for automation-based liquid handlers. According to the CDC, the U.S. reported over 1.6 million new cancer cases with 602, 347 deaths in 2020. Thus, the higher disease burden has created an extensive need for research activities and given significant growth momentum to the market.
Furthermore, the growing trend of automation is pushing manufacturers to introduce novel and efficient solutions into the market. In addition, the presence of a large number of market participants and various developments by them is another potential factor accelerating market uptake. For instance, in February 2023, Biosero, Inc. and AltemisLab collaborated to streamline automated sample management workflows. In addition, in February 2021, Hamilton Company announced that its Hamilton BiOS, an automated sample storage system, had been selected for the new Health Sciences Research Building-II at Emory University.
Automated Sample Storage Systems Market Report Highlights
- The automated compound storage system segment dominated the industry in 2022 with a revenue share of 48.9%; the high demand is attributed to the rising need from end-user industries such as pharmaceuticals and food
- Compound sample was the dominant segment in the market for automated sample storage systems in 2022, whereas the biological sample segment is expected to exhibit the fastest growth rate throughout the forecast period
- In the end-user segment, pharmaceutical and biotech companies dominated the market with a revenue share of 41.6%. The higher revenue growth is attributed to the strong demand for automation across pharmaceutical and biotech companies
- North America dominated the global market in 2022 with a revenue share of 36.74%. The substantial contribution is owing to the high number of biobanks in the region and various strategic initiatives undertaken by localized industry participants
Market Dynamics
Market Driver Analysis
- Increasing demand for automation across end-users
- Increasing demand for bio-banking and compound management
- Technological advancements
Market Restraint Analysis
- High cost of automated sample storage systems instruments
- Stringent government policies and regulations
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $914.1 Million |
| Forecasted Market Value (USD) by 2030 | $2120 Million |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing demand for automation across end-users
3.2.1.2. Increasing demand for bio-banking and compound management
3.2.1.3. Technological advancements
3.2.2. Market Restraint Analysis
3.2.2.1. High cost of automated sample storage systems instruments
3.2.2.2. Stringent government policies and regulations
3.3. Industry Analysis Tools
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Product Business Analysis
4.1. Automated Sample Storage Systems Market: Product Movement Analysis
4.2. Automated Compound Storage System
4.3. Automated Liquid Handling Systems
Chapter 5. Sample Type Business Analysis
5.1. Automated Sample Storage Systems Market: Sample Type Movement Analysis
5.2. Biological Samples
5.3. Compound Samples
Chapter 6. End User Business Analysis
6.1. Automated Sample Storage Systems Market: End User Movement Analysis
6.2. Pharmaceutical and Biotech Companies
6.3. Academic and Research Institutions
6.4. Biobanks
Chapter 7. Regional Business Analysis
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Strategy Mapping
8.3. Company Market Position Analysis, 2022
8.4. Company Profiles/Listing
- Thermo Fisher Scientific, Inc
- Beckman Coulter
- Hamilton
- Azenta US
- MEGAROBO
- SPT Labtech
- LiCONiC
- MICRONIC
- ASKION GmbH
- Haier Biomedical
For more information about this report visit https://www.researchandmarkets.com/r/tt63pb
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