CHICAGO, Jan. 8, 2021
CHICAGO, Jan. 8, 2021 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the Inspection machine market is projected to reach USD 871 million by 2025 from USD 671 million in 2020, at a CAGR of 5.4% during the forecast period.
Browse in-depth TOC on "Inspection Machines Market"
134 – Tables
46 – Figures
231 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81453085
The growth of this market is majorly driven as companies are now increasingly adopting inspection systems throughout their production lines due to the growing concerns to the regulatory mandates introduced by the government and regulatory bodies in the healthcare industry to maintain compliance with Good Manufacturing Practices (GMP). Furthermore, 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 growing demand for used and refurbished inspection systems is expected to restrain this market's growth to a certain extent. Also, the complexities of introducing inspection machines in a production line may hamper the market's growth to a certain extent.
Since the beginning of 2020, the majority of the countries worldwide shut down their borders and limited transportation in a bid to contain the coronavirus (COVID-19) outbreak, thus, creating impediments for international trade and transportation. This had disrupted the supply chains for the inspection machines market, temporarily leading to a fall in demand due to uncertainty in the global economy and capital markets.
The software segment is expected to grow at the highest CAGR during the forecast period
Based on product, the inspection machines market is segmented into vision inspection systems, leak detection systems, X-ray inspection systems, combination systems, checkweighers, metal detectors, software, and other inspection systems. The software segment is projected to witness the highest growth in the market during the forecast periods (2020-2025). Growth in this segment is driven mostly by the increasing demand for faster inspection of products in the manufacturing process and minimal human inspection leads to the growth of adopting digital solutions for better imaging and accuracy. Software integrated with such systems is improving the overall process efficiency.
The fully automated machines segment is expected to account for the largest share of the market
Based on type, the market is segmented into fully automated machines, semi-automated machines, and manual machines. The fully automated machines segment accounted for the largest share of the inspection machines market in 2019. 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 real-time defect tracking capability of these systems makes it a choice to avoid re-inspection, and are thus being adopted across various industries.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=81453085
Syringes segment is expected to grow at the highest rate during the forecast period
Based on application, the inspection machines market is segmented into ampoules & vials, syringes, blister packaging, bottles, and other packaging types. The syringes segment is expected to grow at the highest CAGR during the forecast period, primarily due to the increasing adoption of inspection machines being used to check pre-filled syringes as these syringes are witnessing a surge in adoption for injectable drug delivery and vaccines. Also, the benefits of reduced drug wastage increased product life span, and the easy self-administer of injectable drugs at home are expected to support market growth in this segment.
The pharmaceutical & biotechnology companies end-user segment is expected to account for the largest share of the market
The inspection machines market, by end-user, 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 accounted for the largest market share in 2019. 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.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=81453085
Asia Pacific is expected to account for the highest CAGR for players operating in the market
The Asia Pacific inspection machines market is expected to grow at the highest CAGR from 2020 to 2025. Factors such as the increasing number of regulatory mandates in the healthcare industry to maintain compliance with good manufacturing practices (GMP); the growing number of pharmaceutical & biotechnology manufacturers; significant economic development in emerging markets such as China and India; tremendous growth in the pharmaceutical, food processing & packaging, and medical device industries; and favorable government initiatives to promote the inspection of products in the pharmaceutical & biopharmaceutical industries are expected to drive the growth of this market during the forecast period.
The prominent players in this inspection machines market are Robert Bosch GmbH (Germany), Körber AG (Germany), METTLER-TOLEDO International Inc. (US), ACG Group (India), Cognex Corporation (US), OMRON Corporation (Japan), Teledyne Technologies Incorporated (US), Brevetti CEA SpA (Italy).
Browse Adjacent Markets: Pharmaceuticals Market Research Reports & Consulting
Browse Related Reports:
Pharmaceutical Packaging Equipment Market by Product (Aseptic Packaging, Blister, Strip, Bottle, Tube, Carton, Case Packer, Wrapping Machine, Palletizing, Labeling & Serialization), Type (Tablet, Powder, Cream, Syrup, Aerosol), Region - Global Forecast to 2025
Fluoroscopy Equipment Market
by Product (Fixed C-Arms, Fluoroscopy Systems (Remote Controlled, Patient Side), Mobile C-arms), and Application (Diagnostic (Cardio, Gastroenterology, Nephrology), Surgical (Ortho, Neuro, Cardio) - Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/inspection-machines-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/inspection-machines.asp