Automated Storage And Retrieval Systems In Laboratories Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automated Storage And Retrieval Systems In Laboratories Market Analysis
The Automated Storage and Retrieval Systems in Laboratories Market are anticipated to grow at a CAGR of 12.6% during the forecast period. AS/RS has become one of the most innovative solutions in material handling equipment, primarily used in warehouses and distribution centers. Retailers of all sizes may shorten delivery times and stay competitive by bringing inventory and fulfillment closer to the consumer with the help of micro-fulfillment and auto-storage technology.
- Technology is crucial to managing a warehouse efficiently. It requires analytics, tracking, and intelligent bin systems. It also helps with efficient hospital delivery and reduces long-term costs by avoiding overstocking supplies and reducing expired supplies. Various healthcare centers are collaborating with hospitals to consolidate the medical supply warehouses.
- Hospitals are now using these methods to create "patient-centric" automated storage and retrieval systems that reduce inventory while preserving accurate and timely medication administration. Given how successful this way of cost-cutting has been, it is anticipated that the use of AS/RS in hospitals will increase significantly during the study.
- Due to inadequate supply chain management, stocking, and supplying, the COVID-19 pandemic has also increased supply waste. It is observed $935 billion of medical supplies are wasted annually. By automating the low-value and easily repeated inventory storage and retrieval task, AS/RS proves advantageous to the operations that utilize it. The conveyor buffering systems may be replaced or reduced by AS/RS, enabling a business to keep buffer products efficiently and retrieve them as needed.
- Even if deploying these automated storage systems is very beneficial, it poses some challenges. A huge cost is involved in installing and implementing automated storage and retrieval systems. AS/RS solutions may need to be more practical for companies needing a faster return on their investment. The large initial capital investment is often cost-prohibitive for smaller organizations.
Automated Storage And Retrieval Systems In Laboratories Market Trends
Increased Emphasis on Value of Development
- Businesses are under tremendous pressure to supply a large number of products in a short amount of time as a result of eCommerce sales. ASRS can automatically bring the product to the operator, eliminating picker travel time to retrieve items to fill orders. This way, warehouses, and distribution centers can maximize their available labor productivity.
- Storage systems are more adaptable than ever with the increase in SKUs thanks to increased software and machine control capabilities, and they can incorporate a variety of instruments like picking robotics.
- With technological advancement, ASRS provides inventory optimization by consolidating date codes and stage pre-picked orders, allowing the operator to run 24/7 without much-added support.
- Robotics has been widely adopted to facilitate automation in the lab. Renatus launched an automated robot warehouse system with 'One-Stop Pick & Pack' technology. Renatus enables a single worker to fulfill an order by picking, consolidating, and packing in one stop.
Asia Pacific to Dominate Automated Storage and Retrieval Market
- In Asia-Pacific, most warehouses rely on human labor to move ordered products for delivery, even as human assistance brings along errors and chances of delay. Warehouse automation improved the operational efficiency of the online pharmaceutical industry of India and boosted its growth in e-commerce by facilitating the smooth drug delivery and manufacturing process.
- Online buyers in India are expected to reach 220 million by 2025. Due to the increasing demand for same-day delivery, e-commerce businesses must establish warehouses in several cities and go for the automated workflow to meet customers' requirements and needs in time.
- November 2022 - Addverb, the warehouse automation solutions, collaborate with Element Logic, a warehouse optimization provider Storage and retrieval, unit fulfillment systems, and creating and implementing custom solutions that improve clients' workflow are Element Logic's areas of expertise. The partnership will develop use cases around AutoStore projects.
Automated Storage And Retrieval Systems In Laboratories Industry Overview
There is moderate competition in Automated Storage and Retrieval Systems in the Laboratories Market. Still, the service is expected to grow as vendors in this sector plan new product launches, partnerships, and acquisitions. The automation solutions provider design and integrate automated storage solutions across various industries and product handling needs. Some of the market leaders of this market are Thermo Fisher Scientific, Danaher Corp, Siemens Healthineers, and Roche Holding AG.
- August 2022 - Addverb Technologies, the warehouse automation solutions provider, launched an automated and highly dynamic shuttle system called Medius. The system is specifically designed for organizations wanting to expand their storage capacity or set up a scalable, flexible automation operation that can supply products quickly.
- July 2022 - At the 74th American Association for Clinical Chemistry Annual Scientific Conference and Clinical Laboratory Exposition (AACC 2022) held in Chicago, Thermofisher Scientific Inc. displayed its innovative clinical and research lab solutions. Clinical laboratories and researchers will benefit from more flexibility and certainty due to the new solution as they respond to new and ongoing diagnostic issues.
- October 2022 - Thermofisher Scientific Inc unveiled the Glacios 2 Cryo-Transmission Electron Microscope (Cryo-TEM). This powerful microscope has new automation and high-resolution imaging features intended to help cryo-electron microscopy (cryo-EM) researchers of various experience levels speed up structure-based drug discovery. Customers can quicken the pace of research for cancer and gene mutations and crippling conditions, including Alzheimer's, Parkinson's, and Huntington's illnesses.
Automated Storage And Retrieval Systems In Laboratories Market Leaders
Thermo Fisher Scientific
Danaher Corp
Roche Holding AG
Honeywell International
Siemens Healthineers
*Disclaimer: Major Players sorted in no particular order
Automated Storage And Retrieval Systems In Laboratories Market News
- February 2023 - Biosero, Inc., developer of laboratory automation solutions, signed an agreement with Analytik Jena to promote applications of their combined laboratory automation technologies that will enable customers to accelerate and optimize their scientific research. Analytik Jena offers innovative laboratory platforms like CyBioFeliX, famous for liquid handling in automated laboratory setups and suitable for applications such as screening preparation.
- January 2023 - Azenta, Inc launched EZ2 Connect MDx for diagnostic laboratory systems use. The systems will help diagnostics labs that have to deal with fluctuating sample numbers and a large variety of sample types and quality. High process safety is ensured with prefilled and sealed reagent cartridges and load checking through integrated cameras.
- October 2022 - The Gibco CTS DynaCellect Magnetic Separation System (DynaCellect), revealed by Thermofisher Scientific Inc., enables cell therapy researchers to swiftly transition from the process and clinical development to commercial manufacture. Manufacturers of cell therapies using DynaCellect technology will benefit from a productive workflow that consistently yields high-performing target cells.
Automated Storage & Retrieval Systems in Laboratories Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Product Innovation, Differentiation, and Branding
5.1.2 Rising Per Capita Income Positively Impacting Purchase Power
5.2 Market Restraints
5.2.1 Fluctuating Raw Material Prices
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Fixed Aisle System
6.1.2 Carousel
6.1.3 Vertical Lift Module
6.2 By Application
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Thermo Fisher Scientific Inc.
7.1.2 Danaher Corp
7.1.3 Hudson Robotics Inc
7.1.4 Becton Dickinson and Company
7.1.5 Synchron Lab Automation
7.1.6 Agilent Technologies Inc.
7.1.7 Siemens Healthineers
7.1.8 Tecan Group Ltd
7.1.9 PerkinElmer Inc.
7.1.10 Honeywell International Inc
7.1.11 BioRad Laboratories Inc
7.1.12 Roche Holding AG
7.1.13 Eppendorf AG
7.1.14 Shimadzu Corp
7.1.15 Aurora Biomed Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Automated Storage And Retrieval Systems In Laboratories Industry Segmentation
Objects that can be stored or retrieved using computer-aided technologies form the basis of Automated storage and retrieval systems (AS/RS). The system usually comprises predefined locations where machines can follow established routes to get items. These are logistics solutions in which the vast majority of movements and operations are carried out automatically, with the help of handling equipment such as stacker cranes, conveyors, and electrified monorails. Hospitals and other healthcare facilities are working together to combine the medical supply warehouses, which helps to reduce inventory while maintaining accurate and timely medication delivery.
The Market is segmented by Type (Discovery and Research Laboratories, In-House Laboratories, and Commercial Laboratories), Application, and Geography.
The market sizes and forecasts are provided in terms of value (USD million).
| By Product Type | |
| Fixed Aisle System | |
| Carousel | |
| Vertical Lift Module |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Automated Storage & Retrieval Systems in Laboratories Market Research FAQs
What is the current Automated Storage and Retrieval Systems in Laboratories Market size?
The Automated Storage and Retrieval Systems in Laboratories Market is projected to register a CAGR of 12.60% during the forecast period (2024-2029)
Who are the key players in Automated Storage and Retrieval Systems in Laboratories Market?
Thermo Fisher Scientific, Danaher Corp, Roche Holding AG, Honeywell International and Siemens Healthineers are the major companies operating in the Automated Storage and Retrieval Systems in Laboratories Market.
Which is the fastest growing region in Automated Storage and Retrieval Systems in Laboratories Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automated Storage and Retrieval Systems in Laboratories Market?
In 2024, the North America accounts for the largest market share in Automated Storage and Retrieval Systems in Laboratories Market.
What years does this Automated Storage and Retrieval Systems in Laboratories Market cover?
The report covers the Automated Storage and Retrieval Systems in Laboratories Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automated Storage and Retrieval Systems in Laboratories Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automated Storage and Retrieval Systems in Laboratories Industry Report
Statistics for the 2024 Automated Storage And Retrieval Systems In Laboratories market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automated Storage And Retrieval Systems In Laboratories analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
