Inspection Machine Market by Product (Vision Inspection, Checkweigher, Metal Detector, Software) Type (Automatic, Manual), Packaging (Ampoules, Vials, Blisters, Bottles), End User (Pharmaceutical, Medical Devices, Food)
Practices, increasing number of inspection checkpoints in production lines, growing number of product recalls, rising penetration of automated inspection systems in the pharmaceutical & biotechnology industries, and technological evolution in inspection systems are the major factors driving the growth of this market.
What the Market Looks Like?
Predicted to grow at a CAGR of 5.5% during the forecast period, the global inspection machine market is estimated to reach USD 774 million by 2024. North America is estimated to account for the largest share of the inspection machines market in 2019, closely followed by Europe. Factors such as the strong presence of numerous pharmaceutical & medical device manufacturers and the presence of stringent regulatory frameworks for these manufacturers (including an increase in the number of inspection checkpoints in the production line) and highly monitored inspection standards are driving the growth of the inspection machines market in North America.
Fully automated inspection machines segment to account for the largest share of the inspection machines market, by type, in 2019
The fully automated machines segment is expected dominate the inspection machines market, by type, in 2019. The large share of this segment can majorly be attributed to advantages offered by fully automated inspection machines (such as high-throughput, maximum inspection accuracy, high detection rate, and compliance with high-standard regulations), growing demand for quality requirements as part of the zero-error strategy, and the increasing adoption of automated machines by various end users.
Pharmaceutical & biotechnology companies are estimated to be the largest end users of inspection machines in 2019
Pharmaceutical & biotechnology companies are expected to account for the largest share of the inspection machines market, by end user, in 2019. The large share of this segment can majorly be attributed to stringent government regulations regarding packaging quality and the increasing need to combat counterfeit pharmaceutical products, product recalls, and the prevention of loss of business revenue.
Read More : Inspection Machines Market Worth $774 Million by 2024 in Healthcare
