Global Automated Compound Storage and Retrieval Market: Snapshot
With substantial strides in medical technology alongside the deployment of the Internet of Things (IoT) across the healthcare sector, the infrastructural growth of the developed and developing nations has paved the way for the expansion of the global market for automated compound storage and retrieval. The market is primarily being driven by increasing investment volumes in research and development, government encouragement, and expanding healthcare expenditures across the globe. Academics, researchers, genomics, and pharmaceuticals have been exhibiting escalating demand for automated compound storage and retrieval
Several firms operating in the global market for automated compound storage and retrieval have been establishing partnerships and collaborations with other market participants, with a view to ramp up their revenues. While mergers and acquisitions are also being undertaken by numerous active players, product innovation can be recognized as a key technique for giving themselves a leg up in the global automated compound storage and retrieval market.
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For example, in May 2017, Brooks Life Science Systems announced that the world’s first ever – 80°C LN2 automated storage system designed for biological samples, BioStore IIIv, has been launched in the global market for automated compound storage and retrieval. With the proven superior productivity of its Chart® Vario™ LN2 freezers and the new automated storage system, Brooks Life Sciences is likely to emerge as a key market player over the oncoming period. The system is apt at providing high protection to the most sensitive biological samples, apart from its capacity to automatically retrieve biological samples merely with a few taps on the screen.
Global Automated Compound Storage and Retrieval Market: Overview
Major biotechnology, pharmaceutical, and research organizations maintain a library of millions of compounds to facilitate their drug discovery and development processes. However, the delivery of the correct compound in the right concentration at the right place at low cost has been one of the major challenges for most companies. This is because traditional methods of compound management are insufficient to fulfill modern processes.
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Automated compound storage and retrieval (ACSR) is an efficient system for storage of compounds, microorganisms, DNA, RNA, and other biological materials in a controlled environment. The system also safeguards compound integrity and optimum retrieval of biological and chemical samples as needed. Typically, samples are stored under liquid nitrogen or dry air in airtight chambers at temperatures ranging from -20ºC to -80ºC depending on the physical and biochemical characteristics of the sample, type of solvent, and stability of the compound. Moreover, the capacity of ACSR system can be easily augmented to cope with research requirement as sample library expands.
Global Automated Compound Storage and Retrieval Market: Drivers and Restraints
The efficient processing of sample compounds, improved coherence of compound library, standardized storage format, reduced time in sample preparation, and a reduced number of storage plates are some of the major factors driving the growth of the ACSR market. The increasing scope of high-throughput screening (HTS), automated screening in drug discovery processes, and high-content screening are also aiding the market’s growth. Moreover, the growing application of ACSR in protein crystallography and DNA storage is also supporting the growth of this market. Top pharmaceutical companies such as Abbot Laboratories, Pfizer, and Bristol-Myers Squibb are extending their R&D capabilities by including ACSR systems, in order to tap the opportunities for the increasing demand for novel pharmaceutical products.
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However, factors such as deterioration in the quality of stored compounds after repeated freeze/ defrost cycles in ACSR systems is detrimental to the market’s growth. The need to store and handle compounds in liquid solutions in ACSR systems, which has chances of spillage in sample compounds is also holding back the market’s growth.
Global Automated Compound Storage and Retrieval Market: Regional Outlook
The global automated compound storage and retrieval market is divided into the regional segments of North America, Asia Pacific, Europe, and Rest of the World (RoW). Amongst these, North America is the leading market followed by Europe in the global market. The leading positions of these regions are due to the presence of a large number of pharmaceutical companies, rising interest for high-throughput screening and ultra high-throughput screening services by pharmaceutical companies, high expenditure on drug discovery processes, and academic and industrial collaboration for pre-clinical research. Asia Pacific and Rest of the World regions are also expected to display significant growth due to a surging number of research organizations and an increasing number of contract research organizations in these regions.
Major Companies Mentioned in Report
The key players operating in the global automated compound storage and retrieval market are MatriCal Inc., LabCyte Inc., TTP Labtech Ltd., Tecan AG, Beckman Coulter, Corning Life Sciences, Brooks Automation Inc., TAP Biosystems, Hamilton Storage Technologies, BD Biosciences, Biophile Inc., and Jouan Robotics S.A.
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