The inspection machine market is expected to reach US$ 1,172.99 million by 2028 from US$ 821.66 million in 2021; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
Inspection machines provide the designers and engineers for processing of equipment, tools to assist in tasks such as sorting of syringes, blister packs, catheters, pills and high-speed inspection. These machines comprise systems such as metal detectors, oxygen and pressure/moisture inspection systems, and leak detection systems. The report offers an in-depth analysis of the inspection machine market, emphasizing on market trends, technological advancements, market dynamics, and competitive landscape (involving major market players across the world). It also includes the impact of the COVID-19 pandemic on the market across all the regions. The Inspection Machine market, by region, is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).
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Inspection Machine Market: Strategic Insights
Market Size Value in US$ 821.66 million in 2021 Market Size Value by US$ 1,172.99 million by 2028 Growth rate CAGR of 5.3% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Inspection Machine Market: Strategic Insights
Market Size Value in | US$ 821.66 million in 2021 |
Market Size Value by | US$ 1,172.99 million by 2028 |
Growth rate | CAGR of 5.3% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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North America held the largest market share in 2021. The growth of the market in North America is attributed to positive attitude toward the utilization of inspection machine among men and women, increasing number of online retails, and rising number of innovative product launches. Moreover, rising spending by sex technology companies is likely to fuel the North America inspection machine market growth during the forecast period.
Lucrative Regions for Inspection Machine Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Continuous Progress in Regulations Mandating GMP Compliance in Healthcare Sector
Healthcare compliance a crucial and rapidly expanding field as it is one of the highly regulated verticals. Various regulatory agencies focus on resolving public health concerns while introducing and implementing various public health and welfare programs. Many such entities work in coordination to preserve and regulate public health at all levels. Private organizations along with federal, state, and local governments contribute to the development and implementation of healthcare regulations. Regulatory agencies such as the US Food and Drug Administration (FDA), European Medicines Agency, and Pharmaceuticals and Medical Devices Agency (Japan) monitor manufacturers' compliance with current Good Manufacturing Practices (cGMP), as one of the important steps in the quality assurance of drugs and medical devices. The CGMP recommends minimal criteria for procedures, facilities, and controls necessary in the manufacturing, processing, and packing of pharmaceutical and medical products. Moreover, such restrictions also ensure that the respective products contain the specified ingredients and exhibit the promised strength.
The regulatory monitoring processes for medical innovations are being revamped in various countries. European Union (EU) has implemented the new Medical Device Regulation (MDR) that controls the manufacturing and distribution of medical devices in the region and takes a life-cycle approach to regulate products. Moreover, China published 36 "Opinions on Deepening the Reform of the Evaluation and Approval System and Encouraging the Innovation of Drugs and Medical Devices" in late 2017. Moreover, in June 2020, the US Food and Drug Administration (FDA) published a finalized guidance on the inspections of medical device establishments. Thus, continuous developments in regulatory standards for ensuring compliance in the healthcare sector is driving the inspection machine market growth.
Product-Based Insights
The inspection machine market, by product, is segmented into vision inspection systems, x-ray inspection systems checkweighers, metal detectors, software, and others. The vision inspection systems segment held the largest share of the market in 2021, and also anticipated to register the highest CAGR of 5.9% in the market during the forecast period.
Inspection Machine Market, by Product – 2021 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Type-Based Insights
The inspection machine market, by type, is bifurcated into automatic and manual. The automatic segment held a larger share of the market in 2021, and also anticipated to register a higher CAGR of 5.4% in the market during the forecast period.
Packaging -Based Insights
The inspection machine market, by packaging, is segmented into ampoules, vials, blisters, and bottles. The ampoules segment held the largest share of the market in 2021, and anticipated to register the highest CAGR of 6.0% in the market during the forecast period.
End-User-Based Insights
The inspection machine market, by end-user, is segmented into pharmaceutical & biotechnology companies, medical device manufacturers, and food processing & packaging companies. The pharmaceutical & biotechnology companies segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 5.4% of the market during the forecast period.
The inspection machine market players adopt organic strategies, such as product launch and expansion, to expand their footprint and product portfolio worldwide as well as to meet the growing demand.
By Product
- Vision Inspection Systems
- X-ray Inspection Systems
- Checkweighers
- Metal Detectors
- Software
- Others
By Packaging
- Ampoules
- Vials
- Blisters
- Bottles
By Type
- Automatic
- Manual
By End User
- Pharmaceutical & Biotechnology Companies
- Medical Device Manufacturers
- Food Processing & Packaging Companies
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- OMRON Corporation
- THERMO FISHER SCIENTIFIC INC.
- Cognex Corporation
- Syntegon Technology GmbH (Bosch Packaging Technology)
- METTLER TOLEDO
- Teledyne Technologies Incorporated
- General Inspection LLC
- BREVETTI CEA S.P.A
- Körber AG.
- Minebea Intec GmbH
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Type, Packaging, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Inspection machines provide the designers and engineers for processing of equipment, tools to assist in tasks such as sorting of syringes, blister packs, catheters, pills and high-speed inspection. These machines include systems such as metal detectors, oxygen and pressure/moisture inspection systems and leak detection systems..
The key factors that are driving the growth of market are continuous progress in regulations mandating GMP compliance in healthcare sector, benefits of high-tech inspection machines. However, the availability of growing demand of refurbished instruments may hamper the growth of the global inspection machine market in the forecast period.
The Inspection machines market is anticipated to grow around 6.3% CAGR amid the forecast period 2021-2028.
North America held highest market share in 2021.
Cognex Corporation and Syntegon Technology GmbH are the key players in the Inspection machines market
Vision inspection systems segment segment market provides the most opportunity for growth
The List of Companies - Inspection Machine Market
- OMRON Corporation
- THERMO FISHER SCIENTIFIC INC.
- Cognex Corporation
- Syntegon Technology GmbH (Bosch Packaging Technology)
- METTLER TOLEDO
- Teledyne Technologies Incorporated
- General Inspection LLC
- BREVETTI CEA S.P.A
- Körber AG.
- Minebea Intec GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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