The market for inspection machines is expected to grow at a CAGR of around 5.5% from 2020 to 2027 and expected to reach the market value of around US$ 978.5 Mn by 2027.
Inspection machines refer to the automatic or manual systems that are used to inspect products, packages, or packaging in order to ensure the compliance of the inspected product. The inspection done by the machines is the critical appraisal of materials, items, or systems particularly by involving testing, examination, and gauging. The advance features provided but the major players in inspection machines include advanced inspection, smooth handling, high efficiency, maximum flexibility, and excellent design.
The growing number of regulatory mandates to maintain compliance with Good Manufacturing Practice (GMP) in the healthcare industry is driving market growth. The increasing R&D expenditure in the pharmaceutical & biotechnology sector is bolstering the market growth. The growing product recalls are boosting need for the inspection across the industry verticals. The increasing number of inspection checkpoints throughout the production line in order to meet with the regulatory specification is additionally bolstering the demand for inspection machines in the global market. The growing medical devices industry which requires the proper inspection of every product and packaging is further propelling the market value. Furthermore, technological advancements, outsourcing of operations, and the growing number of manufacturing facilities in emerging economies are projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, the growing demand for refurbished equipment due to the high cost of inspection machines and lack of access in emerging and underdeveloped markets is hampering the growth in the global market.
Instance of Global Inspection Machines Market
North America accounted for the maximum revenue share in the global market
In 2019, North America is leading the market with maximum revenue share in the global market, and the region is followed by Europe. The US accounted for the maximum revenue share in the North America market and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The presence of major regulatory authorities such as the FDA is supporting the regional market value. The presence of major players in the region is supporting the regional market growth, those are continuously making possible efforts to provide a safe and well-sterilized product by maintaining proper hygiene to the end-users.
Asia Pacific is anticipated to exhibit fastest growth over the forecast period from 2020 to 2027
The Asia Pacific region is projected to exhibit the fastest growth on account of its major economies including Japan, China, and India. The developing industrial sector along with the increasing export and import activities that bring certain responsibility on the manufacturers for meeting the global as well as regional standards which are supporting and demand and usage of inspection machines in the regional market. The increasing investments by the major players along with growing demand in the market are accelerating the market growth.
Key Market Players
The players profiled in the report include BREVETTI CEA SPA, Cognex Corporation, General Inspection, Korber Medipak Systems AG, METTLER TOLEDO, Omron Corporation, Robert Bosch Packaging Technology GmbH, Sartorius AG, Teledyne Digital Imaging Inc, and Thermo Fisher Scientific Inc.
Market By Product
Vision Inspection Systems
Leak Detection Systems
X-ray Inspection Systems
Other Inspection Systems
Market By Type
Fully-automated Inspection Machines
Semi-automated Inspection Machines
Manual Inspection Machines
Market By Application
Ampoules & Vials
Other Packaging Types
Market By End User
Pharmaceutical & Biotechnology Companies
Medical Device Manufacturers
Food Processing & Packaging Companies
Market By Geography
Middle East & Africa
The market for inspection machines is expected to reach a market value of around US$ 978.5 Mn by 2027.
The inspection machines market is expected to grow at a CAGR of around 5.5% from 2020 to 2027.
Ampoules & vials, syringes, blister packaging, bottles, and other packaging types are the segments by application in the inspection machines market
The growing number of regulatory mandates to maintain compliance with Good Manufacturing Practice (GMP) in the healthcare industry, increasing R&D expenditure in pharmaceutical & biotechnology sector, growing product recalls, and increasing number of inspection checkpoints throughout the production line are some of the factors driving the market growth.
BREVETTI CEA SPA, Cognex Corporation, General Inspection, Korber Medipak Systems AG, METTLER TOLEDO, Omron Corporation, Robert Bosch Packaging Technology GmbH, Sartorius AG, Teledyne Digital Imaging Inc, and Thermo Fisher Scientific Inc. are some of the prominent players in the market.
North America held the highest market share in the inspection machines market
Asia Pacific is expected to be the fastest growing market over the forecast period