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CST: 17/09/2019 15:40:13   

Automated Sample Storage Systems Market to cross US$1,950 million by 2025 - TMR

103 Days ago

Rising Demand for Automation from Numerous Industries Propels Automated Sample Storage Systems Market

Albany, New York, June 06, 2019 (GLOBE NEWSWIRE) -- The automated sample storage systems improve space utilization coupled with increasing storage density. Rising need for these systems is driving the growth of the global automated sample storage systems market. Additionally, requirement samples from automated sample storage systems for almost every research laboratories as it reduces the need for installing devices separately in laboratories are augmenting growth of the automated sample storage systems market. This is expected to elevate the investments in the market, which is expected to offer opportunities for growth in the coming future. Thanks to this, the global automated sample storage systems market stood at US$617 mn in 2016 and is expected to exhibit 15.5% CAGR during the forecast period 2025 end. With this CAGR, the market is expected to grab a value of US$1,950 million by the forecast period.

Automated sample storage systems are the controlled storage devices primarily used for the sample preservation of chemical compounds and biological samples. These systems facilitate store and retrieve samples to the laboratories when required. The demand for automated sample storage systems market from the Europe region led to dominate the market in 2016. The market in Europe is likely to exhibit a growth rate of 15.3% CAGR during the forecast period from 2017 to 2025 to expand from a valuation of US$210 mn in 2017.

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Rising Adoption of Automated Technology Boosts Market Growth

The demand for sample storage systems is changed from manual to automate controlled, as they are effective and easy to handle coupled with large computer controlled automated storage devices. Additionally, automation in the sample storage systems has lowered labor costs coupled with lower essential workforce requirements, which is fuelling growth of the global automated sample storage systems market.

Increased Support of Governments to Biobanks to Drive Market

The steady expansion of the global pharmaceuticals sector in the past few years has significantly helped the global automated sample storage market pick pace. Demand from the sector accounts for a large share in the revenue of the overall market and an increasing number of pharma companies are shifting to automated solutions so as to boost their throughput and bring down the number of errors that are incurred due to manual handling of critical samples. This scenario is likely to remain one of the key drivers of the market over the report’s forecast period as well.

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The market is also benefitting from the increased support of government bodies towards the automation of biobanks. The usage of automation tools in biobanks can lead to benefits such as reduction in errors presented through manual handling of samples, preservation of sample integrity, and energy and cost savings. The rise in funds for the development and effective management of biobanks is expected to provide a massive push to the overall development of the global automated sample storage market.

Some of the other prominent players in the automated sample storage systems market include Thermo Fisher Scientific, Inc., TTP LabTech, Angelantoni Life Science, Panasonic Healthcare Co., Ltd., LiCONiC AG, Biotron Healthcare, ASKION, Haier BioMedical (Haier Group), and Tsubakimoto Chain Co. The key players such as Brooks Automation, Inc. dominated the global automated sample storage systems market in 2016.

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This assessment of the global automated sample storage systems market is based on a recent market research report by Transparency Market Research, titled “Automated Sample Storage Systems Market (Product Type - System Units and Reagents and Consumables; Application - Biological Sample Storage and Compound Storage; Capacity - Less Than 100K Samples, 100K - 500K Samples, 500K - 2M Samples, and More Than 2M Samples; End User - Pharma and Biotech Companies, Academic Research Labs, and Private Biobanks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

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