What is the global market size of Inspection Machines Market?

Global Inspection Machines Market size was valued at USD 688.63 million in 2021 and is poised to grow from USD 721 million in 2022 to USD 1041.13 million by 2030, growing at a CAGR of 4.7% in the forecast period (2023-2030).

Inspection Machines Market Size, Share, Growth Analysis, By Product(Vision Inspection Systems, X-ray Inspection Systems, Checkweighers, Metal Detectors), By Packaging(Ampoules, Vials, Blisters, Bottles), By Type(Automatic, Manual), By End use(Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, Food Processing & Packaging Companies), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20I2069 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 119 | Figures: 77

Inspection Machines Market Regional Insights

The market for inspection machines is thought to be dominated by North America, followed by Europe. The dominance is due to the presence of numerous biotechnology, pharmaceutical, and medical device manufacturers in the area, stringent regulatory standards for healthcare providers, an increase in the number of manufacturing plant inspection checkpoints, and strictly regulated inspection standards and mandatory enforcement in the area. The US is a hub of competitiveness in the market for inspection machines because it also houses several major international players.

The highest CAGR is expected to be registered in the Asia-Pacific region. The region's expansion is primarily attributed to the Good Manufacturing Practices (GMP) regulations becoming more stringently enforced, and the expansion of the pharmaceutical and biotechnological industries is another factor influencing the growth of the Asia Pacific regions in the market for inspection machines. Japan will be the region with the quickest growth rate due to the advancement of developing technologies and innovation in the inspection and weighing business.

Inspection Machines Market Report Snapshots

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Inspection Machines Market size was valued at USD 688.63 million in 2019 and is poised to grow from USD 721 million in 2023 to USD 1041.13 million by 2031, growing at a CAGR of 4.7% in the forecast period (2024-2031).

The market share for inspection machines is anticipated to rise as producers seek to enhance their output and market share through various partnerships and new releases. In terms of pricing and product variety, the industry is also growing increasingly competitive among market participants. 'Bosch Packaging Technology', 'Cognex Corporation', 'Omron Corporation', 'Mettler-Toledo International Inc.', 'Teledyne Technologies Inc.', 'Sartorius AG', 'Jekson Vision Private Limited', 'Ametek, Inc.', 'Keyence Corporation', 'Anritsu Corporation', 'Mitsubishi Electric Corporation', 'Thermo Fisher Scientific Inc.', 'HEUFT SYSTEMTECHNIK GMBH', 'Körber Medipak Systems GmbH', 'Schneider Electric SE', 'Garvens Group', 'Brevetti C.E.A. Spa', 'Advanced Vision Technology Ltd.', 'InnospeXion ApS', 'Loma Systems'

Regulatory agencies, such as the Food and Drug Administration and the Pharmaceuticals and Medical Devices Agency, carefully monitor manufacturers' adherence to Current Good Manufacturing Practices (CGMP) rules to assure the quality of medications and medical devices. The minimum standards for the processes, settings, and controls used in their production, processing, and packaging are specified in CGMP regulations for drugs and medical devices.

The rise in the number of regulatory mandates to uphold GMP compliance in the healthcare industry and rising pharmaceutical & biotechnology R&D expenses are the main factors anticipated to propel the growth of the inspection machines market in the projected future. Additionally, it is projected that rising product recalls would further fuel the market for inspection machines. Additionally, it is predicted that the market for inspection equipment will expand more slowly due to the increasing number of inspection locations throughout the manufacturing line. On the other hand, it is anticipated that the rise in the demand for reconditioned equipment as a result of the rising cost of inspection machines will further restrain the market's expansion over the timeline.

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Inspection Machines Market Regional Insights

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