According to the new market research report “Inspection Machines Market by Product (Vision Inspection, Checkweigher, Metal Detector, Software) Type (Automatic, Manual), Packaging (Ampoules, Vials, Blisters, Bottles), End User (Pharmaceutical, Medical Devices, Food) – Global Forecast to 2024”, published by MarketsandMarkets™, the Global Inspection Machines Market is projected to reach USD 774 million by 2024 from USD 592 million in 2019, growing at a CAGR of 5.5% between 2019 and 2024.
Regulatory mandates in the healthcare industry to maintain compliance with Good Manufacturing Practices, increasing number of inspection checkpoints in production lines, growing number of product recalls, rising penetration of automated inspection systems in the pharmaceutical & biotechnology industries, and technological evolution in inspection systems are the major factors driving the growth of this market.
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Fully automated inspection machines segment to account for the largest share of the inspection machines market, by type, in 2019.
The fully automated machines segment is expected dominate the inspection machines market, by type, in 2019. The large share of this segment can majorly be attributed to advantages offered by fully automated inspection machines (such as high-throughput, maximum inspection accuracy, high detection rate, and compliance with high-standard regulations), growing demand for quality requirements as part of the zero-error strategy, and the increasing adoption of automated machines by various end users.
Pharmaceutical & biotechnology companies are estimated to be the largest end users of inspection machines in 2019
Pharmaceutical & biotechnology companies are expected to account for the largest share of the inspection machines market, by end user, in 2019. The large share of this segment can majorly be attributed to stringent government regulations regarding packaging quality and the increasing need to combat counterfeit pharmaceutical products, product recalls, and the prevention of loss of business revenue.
Geographical Region Covered
APAC market is estimated to grow at the highest CAGR during the forecast period.
The high growth in this regional market can be attributed to factors such as the increasing number of regulatory mandates to maintain compliance with Good Manufacturing Practices; growing number of pharmaceutical & biotechnology manufacturers; significant growth in the pharmaceutical, food processing & packaging, and medical device industries; and favorable government initiatives to promote the inspection of products in the pharmaceutical and biopharmaceutical industries in several Asia Pacific countries.
North America is estimated to be the largest regional market for inspection machines
North America is estimated to account for the largest share of the Inspection Machines Market in 2019, closely followed by Europe.
Factors such as the strong presence of numerous pharmaceutical & medical device manufacturers and the presence of stringent regulatory frameworks for these manufacturers (including an increase in the number of inspection checkpoints in the production line) and highly monitored inspection standards are driving the growth of the Inspection Machines Market in North America.
The prominent players operating in the global inspection machines market are ACG Worldwide (India). Körber AG (Germany), METTLER TOLEDO International Inc. (US), Brevetti C.E.A SPA (Italy), Teledyne Technologies (US), Cognex Corporation (US), Omron Corporation (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Jekson Vision Private Limited (India), Thermo Fisher Scientific (US), Antares Vision (Italy), OPTEL Group (Canada), and Robert Bosch GmbH (Germany).
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