The global inspection machines market is projected to reach USD 396.4 Million by 2021, at a CAGR of 5.9% from 2016 to 2021.
The global inspection machines market is projected to reach USD 396.4 Million by 2021, at a CAGR of 5.9% from 2016 to 2021. The prominent drivers of this market are the growing number of regulatory mandates to maintain compliance with current Good Manufacturing Practices (cGMPs), increased product recalls, growing adoption of automated inspection systems, and rising number of inspection checkpoints in the production line. On the other hand, the sales of used and refurbished equipment encroaching on new unit business is a major restraint for market growth.
The global inspection machines market is mainly segmented on the basis of product, packaging type, machine type, end user, and region. On the basis of product, the market is segmented into seven segments vision inspection systems, leak detection systems, X-ray inspection systems, metal detectors, checkweighers, software, and other inspection systems (carbon dioxide, oxygen, and pressure/moisture inspection systems). In 2015, the vision inspection machines segment accounted for the largest share of the market. The high adoption rate of camera-based vision inspection machines by pharmaceutical & biotechnology companies and medical device manufactures is the primary reason behind the largest share of this segment. By machine type, the market is segmented into three segments fully, semi-automated, and manual inspection machines. By packaging type, the market is segmented into five segments—ampoules & vials, blisters, bottles, syringes, and others.
On the basis of end users, the global market is mainly segmented into three types, namely, pharmaceutical and biotechnology companies, medical device manufacturers, and other end users. In 2015, pharmaceutical & biotechnology companies are estimated to account for the largest share, owing to the rising number of regulatory mandates to maintain compliance with cGMPs.
Geographically, the Asia-Pacific region, especially Japan, China, and India, is expected to witness substantial growth owing to the large presence of major pharmaceutical manufacturers and the increasing number of regulatory mandates to comply with cGMPs in these emerging markets.
In order to maintain their market shares, major players focus on new product launches, product upgradation, expansion, partnerships, agreements, collaboration, and acquisition as key growth strategies. New product launches was the key strategy adopted by the major market players in 2013–2016. Some of the prominent players in the global inspection machines market are Robert Bosch GmbH (Germany), Cognex Corporation (U.S.), Omron Corporation (Japan), Mettler-Toledo International Inc. (U.S.), Teledyne Technologies Inc. (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), Sartorius AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Brevetti C.E.A. SPA (Italy) and Vitronic GmBH (Germany).
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