Market Size of Inspection Machines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Inspection Machines Market Analysis
The inspection machines market is projected to register a CAGR of 5.2% during the forecast period.
The COVID-19 pandemic had a significant impact on the growth of the inspection machines market. For instance, a research study published in Clinical Therapeutics, in December 2021, stated that the COVID-19 pandemic has affected the management and operation of regulatory agencies as well as the pharmaceutical industry around the world. However, the increased government restrictions to comply with good manufacturing (GMP) practices, resumed services and the growing product recalls across the globe have increased the demand for inspection machines. For instance, in January 2021, Stevanato Group collaborated with Microsoft Italy to meet the challenges that the pharmaceutical glass industry was experiencing during the COVID-19 pandemic. The company provides packaging and syringes for the major international anti-COVID-19 vaccine programs, as well as pharmaceutical inspection equipment. Thus, the studied market is anticipated to grow and regain its full potential over the forecast period.
Factors such as increasing regulatory compliance with good manufacturing practices (GMP) and product recalls are boosting market growth. For instance, in December 2022, Accord Healthcare, Inc. voluntarily recalled a single lot of Daptomycin for Injection 500 mg/vial, and Daptomycin for Injection 350 mg/vial product as they received a product complaint report from a hospital pharmacy that vials labeled as Daptomycin for Injection 500 mg/vial' were found in cartons labeled as 'Daptomycin for Injection 350 mg/vial'. Also, the lot and expiration date printed on the outer carton and inner vial are the same and correspond to 'Daptomycin for Injection 500 mg/vial'. Such instances are contributing to market growth.
Furthermore, new product launches are also anticipated to augment the market growth over the forecast period. For instance, in March 2022, EPIC Systems launched a new turnkey vision inspection product, matching label inspection and lid package verification that is designed to provide industry-leading vision inspection solutions for manufacturers. Also, in February 2022, Mettler Toledo introduced X34C X-ray, a fast and effective vertical X-ray inspection system optimized for contaminant detection of individual products within a defined application ste, blister packs, and sachets in the pharmaceutical industry.
Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. However, the growing demand for refurbished equipment is likely to hinder the growth of the inspection machines market over the forecast period.
Inspection Machines Industry Segmentation
As per the scope of the report, inspection machines provide a layer of quality assurance through the examination of products, packages, and material components to ensure they meet all specifications. The Inspection Machines Market is Segmented by Product (Vision Inspection System, X-ray Inspection System, Leak Detection System, Metal Detectors and Others), End User (Pharmaceutical and Biotech Companies, Medical Device Companies and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product | |
| Vision Inspection System | |
| X-ray Inspection System | |
| Leak Detection System | |
| Metal Detectors | |
| Others |
| By End User | |
| Pharmaceutical and Biotech Companies | |
| Medical Device Companies | |
| Others |
| Geography | ||||||||
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Inspection Machines Market Size Summary
The inspection machines market is poised for growth, driven by increasing regulatory compliance with good manufacturing practices and the rising incidence of product recalls. The market's expansion is further supported by the demand for advanced inspection systems to combat counterfeit drugs and ensure product safety in the pharmaceutical industry. The COVID-19 pandemic initially disrupted market growth, but subsequent collaborations and technological advancements have spurred demand. New product launches, such as vision inspection systems and X-ray inspection technologies, are expected to enhance market dynamics. These innovations are crucial for real-time tracking and authentication of drugs, addressing the challenges posed by substandard and falsified medical products.
North America is anticipated to experience significant market growth due to stringent regulatory measures and the adoption of GMP practices. The region's market is bolstered by the introduction of advanced inspection systems and the increasing frequency of product recalls. Key players in the market, including Robert Bosch GmbH, Cognex Corporation, and Mettler-Toledo International Inc, are actively engaging in collaborations and launching new products to maintain their competitive edge. The market remains partially fragmented, with opportunities arising from the development of technologically advanced inspection systems. These factors collectively contribute to the market's positive outlook over the forecast period.
Inspection Machines Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Regulatory Compliance With Good Manufacturing Practices
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1.2.2 Growing Product Recalls
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1.3 Market Restraints
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1.3.1 Growing Demand for Refurbished Equipment
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Vision Inspection System
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2.1.2 X-ray Inspection System
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2.1.3 Leak Detection System
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2.1.4 Metal Detectors
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2.1.5 Others
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2.2 By End User
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2.2.1 Pharmaceutical and Biotech Companies
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2.2.2 Medical Device Companies
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Inspection Machines Market Size FAQs
What is the current Global Inspection Machines Market size?
The Global Inspection Machines Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Global Inspection Machines Market?
Robert Bosch GmbH, Cognex Corporation, Mettler-Toledo International Inc, Jekson Vision and Körber AG are the major companies operating in the Global Inspection Machines Market.
