The inspection machines market is projected to reach USD 905 million by 2027 from USD 721 million in 2022, at a CAGR of 4.7% during the forecast period. Factors such as the increasing issues in regulatory mandates by the government, the growing adoption of automated inspection systems in the pharmaceutical and biotechnology industries, and technological advancements in inspection systems leads to the growth of the market.
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The inspection machines market refers to the industry that produces and sells machinery and equipment designed for quality control, inspection, and testing of products across various industries.
Key factors driving the inspection machines market include:
Quality Assurance: In industries like pharmaceuticals and food, ensuring product quality and safety is paramount.
Increasing Automation: The demand for automation and Industry 4.0 initiatives has led to the adoption of advanced inspection machines that can perform tasks such as visual inspection, measurements, and data analysis with high precision and speed.
Regulatory Compliance: Stringent regulations and standards in various industries require companies to invest in inspection equipment to meet compliance requirements and avoid penalties.
Product Variability: As products become more complex and diverse, inspection machines need to adapt to handle various shapes, sizes, and materials.
Cost Reduction: Inspection machines can help companies reduce production costs by minimizing defects, waste, and rework.
Emerging Technologies: Innovations in machine vision, artificial intelligence (AI), and robotics have led to the development of more advanced and efficient inspection systems.
Globalization of Supply Chains: As supply chains become more global, the need for consistent quality control and inspection across multiple locations increases.
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Key Market Players
Thermo Fisher Scientific (US), Robert Bosch GmbH (Germany), OPTEL Group (Canada), Körber AG (Germany), Cognex Corporation (US), METTLER TOLEDO International Inc. (US), Teledyne Technologies Incorporated (US), ACG Group (India), OMRON Corporation (Japan), Antares Vision S.p.A. (Italy), Brevetti CEA SpA (Italy), Jekson Vision Private Limited (India), Mitsubishi Chemical Holdings Corporation (Japan), Shanghai Tofflon Science and Technology Co. Ltd. (China), Systech International (US), LOMA Systems (UK), Laetus GmbH (Germany), VITRONIC (Germany), WIPOTEC-OCS GmbH (Germany), SEA Vision S.r.l. (Italy), Proditec (France), Iris inspection machines (France), CMP Pharma SRL (Italy), General Inspection (US), and Minebea Intec GmBh.(Germany).
Robert Bosch GmbH held the leading position in the inspection machines market. Bosch Packaging Technology, a wholly owned subsidiary of Robert Bosch, provides inspection machines for the healthcare industry. The company offers a broad range of inspection machines.
Körber AG held the second position in the inspection machines market in 2021. The company’s wholly owned subsidiary Körber Medipak Systems AG (Switzerland), is engaged in providing software, materials, machines, and technologies to the pharmaceutical and biotech industry.
During the forecast period Asia Pacific is expected to account for the highest CAGR in the inspection machines market
During the forecast period 2022-2027, the Asia Pacific inspection machines market is expected to grow at the highest CAGR. Factors such as the significant economic development in emerging markets such as China and India, growth in the inspection machine market in Asia pacific region is expected to drive the growth of this market during the forecast period.
Inspection Machines Market Dynamics:
Drivers:
· Growing mandates to maintain GMP compliance
· Increasing pharmaceutical & biotechnology R&D expenditure
· Growing product recalls
· Increasing inspection checkpoints throughout production
· Growth in medical devices industry
Restraints:
· Growing demand for refurbished equipment due to high cost of inspection machines
· Lack of access in emerging markets
Opportunities:
· Technological advancements
· Rising outsourcing of manufacturing operations to emerging economies
Challenges:
· Complexities in integrating inspection machines
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