DUBLIN–(BUSINESS WIRE)–Jan 28, 2021–
The " Inspection Machines Market by Product (Vision Inspection, Checkweigher, Metal Detector, Software), Type (Manual, Automatic), Packaging Type (Vials, Syringes, Blisters), End User (Pharmaceutical, Medical Device), COVID-19 Impact – Global Forecast to 2025 " report has been added to ResearchAndMarkets.com’s offering.
The Inspection Machines Market is Projected to Reach USD 871 Million by 2025 from USD 671 Million in 2020, at a CAGR of 5.4%
Growth in this market is primarily driven by the increasing adoption of inspection systems throughout their production lines due to the growing concerns about the regulatory mandates introduced by the government and regulatory bodies in the healthcare industry to maintain compliance with Good Manufacturing Practices (GMP).
Also, the increasing adoption of automated inspection systems in the pharmaceutical and biotechnology industries, growth in the number of product recalls, an increasing number of inspection checkpoints throughout the production line, and technological advancements in inspection systems support the growth of the market. However, the complexities of introducing inspection machines in a production line may hamper the market’s growth to a certain extent.
Based on product, the vision inspection systems segment holds the largest market share during the forecast period.
Based on product, the inspection machines market is segmented into vision inspection systems, X-ray inspection systems, leak detection systems, metal detectors, combination systems, check weighers, software, and other inspection systems. The vision inspection systems segment accounted for the larger market share in 2019.
The large share of this segment can be attributed to the high adoption of vision inspection systems in the pharmaceutical, biotechnology, medical device, cosmetic, and food industries compared to other systems due to their ease of use, easy adaptability, and high performance.
Based on type, the fully automated inspection machines segment is expected to register the highest CAGR during the forecast period.
Based on type, the fully automated machines segment commanded the largest share in 2019, followed by semi-automated and manual machines. The large share of the fully automated machines segment can be attributed to these systems’ benefits, such as high throughput rate, maximum inspection accuracy, high detection rate, and compliance with high standard regulations compared to the other systems.
The growing demand for quality requirements as part of the zero-error strategy, increasing need to reduce particles and cosmetic defects, and technological advancements in this segment will continue to drive market growth.
Based on packaging type, the ampoules & vials segment holds the largest market share during the forecast period.
Based on packaging type, the inspection machines market is segmented into ampoules & vials, syringes, blister packaging, bottles, and other packaging types based on packaging type. In 2019, the ampoules & vials segment dominated the inspection machines market, by packaging type. The large share of the ampoules & vials segment can be attributed to its rising adoption in the pharmaceutical industry for biopharmaceutical and vaccine delivery, which leads to the increasing adoption of inspection systems.
Based on end user, the pharmaceutical & biotechnology companies segment is expected to register the highest CAGR during the forecast period.
Based on end users, the inspection machines market is segmented into pharmaceutical & biotechnology companies, medical device manufacturers, food processing & packaging companies, and other end users (nutraceuticals and cosmetic companies). The pharmaceutical & biotechnology companies segment is projected to witness the highest growth during the forecast period. Inspection machines are widely used in pharmaceutical & biotechnology companies for quality checks and quality assurance, which is a major factor in driving the market growth.
Furthermore, a growing number of pharmaceutical & biotechnology companies are utilizing inspection machines owing to factors such as the increasing compliance to GMP guidelines and the increasing number of inspection checkpoints in the production & packaging lines, stringent government regulations, the increasing need to combat counterfeit pharmaceutical products, product recalls, and the prevention of loss of business revenue due to the deployment of inspection machines.
North America is expected to account for the largest share of the inspection machines market in 2019.
In 2019, North America accounted for the largest share of the inspection machines market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be attributed to the presence of a large number of pharmaceutical and biotechnology companies & medical device manufacturers in the region, stringent regulatory mandates for healthcare manufacturers, an increasing number of inspection checkpoints in the production line, and highly regulated inspection standards & obligatory compliance in the region. Moreover, several major global players are based in the US, owing to which the US is a center for innovation in the inspection machines market.
Market Dynamics
Market Drivers
- Growing Number of Regulatory Mandates to Maintain Compliance with GMP in the Healthcare Industry
- Increasing Pharmaceutical & Biotechnology R&D Expenditure
- Growing Product Recalls
- The Increasing Number of Inspection Checkpoints Throughout the Production Line
- Growth in the Medical Devices Industry
Market Restraints
- Growing Demand for Refurbished Equipment due to the High Cost of Inspection Machines
- Lack of Access in Emerging Markets
Market Opportunities
- Technological Advancements
- Outsourcing of Operations and the Growing Number of Manufacturing Facilities in Emerging Economies
Market Challenges
- Complexities in Integrating Inspection Machines
Companies Mentioned
- Acg Group
- Antares Vision S.P.A.
- Brevetti Cea Spa
- Cognex Corporation
- Jekson Vision Private Limited
- Korber Ag
- Laetus GmbH
- Loma Systems
- Mettler-Toledo International Inc.
- Mitsubishi Chemical Holdings Corporation
- Omron Corporation
- Optel Group
- Robert Bosch GmbH
- Sea Vision S.R.L.
- Shanghai Tofflon Science and Technology Co. Ltd.
- Systech International
- Teledyne Technologies Incorporated
- Thermo Fisher Scientific Inc.
- Vitronic
- Wipotec-Ocs GmbH
For more information about this report visit https://www.researchandmarkets.com/r/rgy61
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KEYWORD:
INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL DEVICES HEALTH PHARMACEUTICAL MEDICAL SUPPLIES
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 01/28/2021 10:00 AM/DISC: 01/28/2021 10:01 AM
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