Automated Storage and Retrieval Systems in Laboratories Market Outlook with Expected 12.58% CAGR 2018 – 2023 | Global Key Players – THERMO FISHER SCIENTIFIC, BECTON, DICKINSON AND COMPANY, AGILENT TECHNOLOGIES, SIEMENS HEALTHCARE

The automated storage and retrieval systems (ASRS) in laboratories market is expected to witness a CAGR of 12.58% over the forecast period (2018 - 2023). Automated storage and retrieval systems (ASRS) is a computer-enhanced mechanism for automatically placing and retrieving loads from defined storage locations. It is beneficial in enhancing the efficiency of a laboratory by providing operators with increased inventory control and tracking, including greater flexibility to address changing needs of the laboratory and business conditions. These systems also help reduce labor costs, workforce requirements, and increase workplace safety.

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Apart from reducing mundane tasks, ASRS installations in laboratories are also driven by the need for consistency in quality as the cost of an error is very high in laboratory processes. Even a reasonably low error rate can have a profound impact on the conclusions. It is believed that taking out the human element from the equation, helps in achieving more consistency. This one of the primary reasons why both the commercial and in-house laboratories are including ASRS equipment in their automation strategies increasingly.

Key Developments in the Market
December 2017 - Thermo Fisher Scientific Inc., acquired MTI GlobalStem at USD 6 million to strengthen their Life Sciences Solutions segment. MTI GlobalStem is well known for its reagents which had special applications in cell transfection, neurobiology, and stem cell research. This shows a clear strategy of the company of investing in the sector with the highest growth.

The major players include –
THERMO FISHER SCIENTIFIC INC., BECTON, DICKINSON AND COMPANY, SYNCHRON LAB AUTOMATION, AGILENT TECHNOLOGIES INC., SIEMENS HEALTHCARE, and HONEYWELL INTERNATIONAL INC., amongst others.

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Increasing Rate of Laboratory Automation to Create Huge Demand for ASRS
Automation is used in a wide variety of life science applications ranging from proteomics to systems biology. Automation is a dominant feature in the diagnostics market, followed by the discovery and research labs. In clinical diagnostics, where profits are based on the number of samples, high throughput is the core driving factor. Total automation is generally preferred in such labs and manufacturing setups. Research labs and academic institutions are generally opting for modular automation, wherein they reduce the human intervention in tedious and repetitive tasks. On the other hand, increase in the number of commercial laboratories is creating a huge demand for lab automation solutions. According to American Hospital Association, there are more than 98 million medical enrollees in 2016, just in the United States.
This high number of enrollees and additional samples/specimen form pickup services that go to the patients and collect samples/specimen leading to a large number of samples transported to the commercial laboratories every day. This scenario is exceptionally high in the Asian countries where most of the medical establishments are not equipped with in-house labs. According to a study conducted by University of Utah School of Medicine and ARUP Laboratories, an average clinical laboratory receives more than 5000 specimens per day (most of them arriving between 21:00 hrs and 3:00 hrs) that are brought to and fro in 162 containers involving 320 separate tracing and shipment slips. Traditionally, such high number of specimen leads to a high rate of laboratory errors due to human intervention. However, with the use of ASRS systems, many pre-analytical and post-analytical errors could be eliminated leading to faster results for the patients and higher throughputs to the lab owners.

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