Global Inspection Machine Markets, 2021-2028: Technological Advancements & Increasing R&D Expenditure in Pharmaceuticals and Biotechnology Industries - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Inspection Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
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.
Manufacturers, along with local governments, are increasingly seeking new approaches to address the challenge of a continuously surging drug and vaccine demands. To fill the demand-supply gap, many biopharmaceutical companies, research institutes, contract research organizations (CROs), and contract development and manufacturing company (CDMOs) are automating their laboratory processes for attaining high precision and low turnaround time.
Automated inspection machines can help enterprises enhance overall product quality while lowering manufacturing costs, thus providing them an edge over their competitors. Many organizations are employing automated inspection systems in their facilities as machine vision inspection cameras and laser gauging sensors have become more cost-effective.
By practically eliminating human errors, an automated inspection equipment increases product quality. Companies that use automated inspection systems usually showcase them during customer visits to indicate their processes are technologically updated. Automated inspection systems require one-time investments, and these high-speed machines can be used 24 7 with little to no extra expense.
Companies can monitor the inspection information and instantaneously correct the corresponding processes causing discards, significantly lowering scrap and enhancing line efficiency. Automated inspection also helps companies cut the costs of containment and re-inspection that typically results from audit-only inspections, machine, or operator errors.
Furthermore, the increasing product recalls in pharmaceuticals and medical device manufacturing industries, growth in number of inspection spot checks across the production line, and demand for high precision in inspection to manufacture products with zero error are propelling the growth of the inspection machine market.
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.
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.
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.
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.
Key Market Dynamics
- Continuous Progress in Regulations Mandating GMP Compliance in Healthcare Sector
- Benefits of High-Tech Inspection Machines
- Growing Demand of Refurbished Instruments
- Increasing R&D Expenditure in Pharmaceuticals and Biotechnology Industries
- Technological Advancements
- 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
- Korber AG.
- Minebea Intec GmbH
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