TOKYO, Aug. 29, 2022 (GLOBE NEWSWIRE) -- TOKYO, August 30, 2022 (GLOBE NEWSWIRE) – The Inspection Machines Market is expected to grow at a CAGR of around 5.5% from 2022 to 2030 and expected to reach the market value of around USD 1,179 Million by 2030.
Inspection Machines Market Report Key Highlights
- Global inspection machines market size was USD 736 million in 2021 and expected to grow at CAGR of 5.5% from 2022 to 2030
- North America inspection machines market is expected to lead with more than 35% market share
- Asia-Pacific inspection machines market is expected to grow with substantial CAGR during the forecast period from 2022 to 2030
- Among products, vision inspection systems occupied more than 28% of total market share
- By end-user, pharmaceutical & biotechnology companies conquered over 45% of the shares
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Report Coverage:
| Market | Inspection Machines Market | |
| Inspection Machines Market Size 2021 | USD 736 Million | |
| Inspection Machines Market Forecast 2030 | USD 1,179 Million | |
| Inspection Machines Market CAGR During 2022 - 2030 | 5.5% | |
| Inspection Machines Market Analysis Period | 2018 - 2030 | |
| Inspection Machines Market Base Year | 2021 | |
| Inspection Machines Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product, By Type, By Application, By End-use and By Geography | |
| Inspection Machines Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | 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. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Inspection machines are used to inspect the quality of the product in terms of packaging, packaging component, weight, leakage, and dimension particularly to maintain consistency throughout the production line. The rising focus on the quality of the product is primarily driving the market growth. The presence of major governmental and non-governmental authorities that are inspecting the final products deployed in the market by the manufacturers is bolstering the inspection machines market growth. For example, healthcare regulatory bodies including Healthcare Compliance Packaging Council (HCPC), the U.S. Food and Drug Administration (FDA), and the National Quality Forum (NQF) are making possible efforts to improve pharmaceutical packaging in the global market to prevent the contamination of drug and other medical products. Growth in the medical device industry and increasing spending on bio and pharma R&D are the leading factors boosting the inspection machines market size. Rising technological advancements and a growing number of inspection checkpoints throughout the production line are some of the recent inspection machine market trends driving the industry growth.
Some of the key observations regarding the inspection machines industry include:
• Antares Vision partnered with the IMA group in 2020. The companies have signed a five-year partnership which has made Antares the exclusive supplier of all inspection and tracking technologies. Whereas, IMA is a leader in the design & production of process automation and packaging machines for pharmaceutical & cosmetic products.
• ACG Inspection has opened a new Centre of Excellence in 2019. ACG is the only integrated pharmaceutical manufacturing and packaging Solutions Company that has opened a 'Centre of Excellence in Switzerland.
• Mettler-Toledo International Inc. has launched its Tablet-Pro metal detection in 2019. The new launch is anticipated to expand the company’s share in the market.
• Cognex Corporation has launched the DSMax32T laser displacement sensor in 2019. It’s a 3D displacement sensor for acquiring images and inspecting products in 3D.
• Robert Bosch GmbH has launched a leak detection system in 2017, particularly to expand its portfolio in the mid-range performance equipment segment. The company has also invested US$ 8.21 Bn in R&D to meet the changing needs of the end-user.
• Kober AG has acquired Systec and Services GmbH in 2017 particularly to strengthen the company's pharma business and this strategic acquisition has provided the ground for expansion in the global market.
COVID-19 Impact on the Global Inspection Machines Market Revenue
Since the beginning of 2020, the majority of nations worldwide locked down their borders and curtailed transportation in an attempt to contain the coronavirus (COVID-19) infection, therefore, creating barriers to international trade and transportation. Due to the uncertainties in the global economy and capital markets, this temporarily reduced demand for inspection equipment by upsetting the supply chains for the market. However, the growing number of medical devices developed during the COVD-19 pandemic created significant growth opportunities for the inspection machines market size. The Office of Regulatory Affairs, the Center for Drug Evaluation and Research, the Center for Drug Evaluation and Research, and the Center for Biologics Evaluation and Research are still fully capable of carrying out routine tasks like application reviews, facility evaluations, and specific inspection activities, as well as responding to the demands of the current COVID-19 public health emergency. FDA will continue to be adaptable and open because this issue is still developing and very dynamic.
Inspection Machines Market Dynamics
The increasing number of government organization mandates to maintain compliance with GMP in the healthcare industry is one of the major aspects driving the global inspection machines market growth. The growing base of pharmaceutical & biotechnology R&D expenditure is another factor that is boosting the inspection machines market value. However, the rising trend of refurbished equipment due to the high cost of inspection machines and lack of access in the emerging market would restrict the market from growing. Furthermore, growing product recalls, and an increasing number of manufacturing facilities in developing countries are likely to open up new growth opportunities for the market in the coming years.
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Inspection Machines Market Segmentation
The global inspection machines market is segmented based on product, type, application, end-user, and geography. Based on the product, the market is bifurcated into vision inspection systems, leak detection systems, x-ray inspection systems, combination systems, check weighers, metal detectors, software, and other inspection systems. According to our inspection machine industry analysis, the vision inspection systems dominated the market with the highest shares in 2021.
Based on type, the market is segmented into fully-automated inspection machines, semi-automated inspection machines, and manual inspection machines. Based on the inspection machines market forecast, the fully automated inspection machines sub-segment is expected to attain the fastest growth rate during the 2022 to 2030 period.
Additionally, inspection machines have applications across ampoules & vials, syringes, blister packaging, bottles, and other packaging types. Among them, ampoules & vials generated the largest inspection machines market share in 2021 and are likely to do so in the coming years.
Moreover, the end-users of inspection machines include pharmaceutical & biotechnology companies, medical device manufacturers, food processing & packaging companies, and others. Based on our analysis, the pharmaceutical & biotechnology companies sub-segment is anticipated to register a substantial growth rate during the forecast timeframe from 2022 to 2030.
Inspection Machines Market Regional Outlook
North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa are the regional categorizations of the inspection machines industry.
In 2021, North America held the major share (%) in terms of revenue in the global inspection machines market, and the region is also projected to maintain its dominance over the forecast timeframe from 2022 to 2030. The major economies of the region including the US and Canada are the major contributors to the regional market value. The region is followed by Europe.
Furthermore, Asia Pacific is anticipated to exhibit the fastest growth over the forecast period from 2022 to 2030. The major economies of the region including Japan, China, and India are the major contributors to the regional market growth. The increasing disposable income, rapid industrialization, and increasing per capita income are some of the major factors supporting the regional market growth during the forecast timeframe from 2022 to 2030.
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Inspection Machines Market Players
Some of the leading inspection machines companies are 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. Inspection machines companies have announced mergers and acquisitions, partnerships & collaborations and new product development to uplift their position in the inspection machines industry. Major players are also moving into new regions with their advanced technologies for gaining a competitive advantage.
Questions Answered By This Report
- What was the market size of Inspection Machines Market in 2021?
- What will be the CAGR of Inspection Machines Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Inspection Machines Market?
- Which region held the largest share in Inspection Machines Market in 2021?
- What are the key market drivers of Inspection Machines Market?
- Who is the largest end user of Inspection Machines Market?
- What will be the Inspection Machines Market value in 2030?
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