DUBLIN, June 3, 2019 /PRNewswire/ -- The "Inspection Machine Market by Product (Vision Inspection, Checkweigher, Metal Detector, Software) Type (Automatic, Manual), Packaging (Ampoules, Vials, Blisters, Bottles), End User (Pharmaceutical, Medical Devices, Food) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The inspection machines market is projected to reach USD 774 million by 2024 from USD 592 million in 2019, at a CAGR of 5.5%
The growth of the inspection machines market is primarily tied to the increasing number of regulatory mandates in the healthcare industry to maintain compliance with Good Manufacturing Practices and the increasing adoption of automated inspection systems in the applied industries.
Factors such as the growth in the number of product recalls, an increasing number of inspection checkpoints throughout the production line, and technological advancements in inspection systems are also expected to drive the growth of this market during the forecast period. However, the growing demand for used and refurbished inspection systems is expected to restrain the growth of this market to a certain extent during the forecast period.
Combination systems segment to witness the highest growth during the forecast period
The combination systems segment is estimated to grow at the highest CAGR during the forecast period. This can primarily be attributed to the advantages offered by combination systems (such as low time consumption and multiple inspection processes at a single checkpoint), technological advancements, increasing demand for inline product inspection, growing need to comply with GMP requirements, and the rising demand for the integration of innovative technologies.
Syringes segment to grow at the highest CAGR in the inspection machines market, by packaging type
The major factors driving the demand for syringe inspection machines are the growing focus on the safety of syringes, rising focus on ensuring compliance with cGMP standards, and the emergence of light transmission technology to inspect particulates in liquids and camera-based technologies to detect cosmetic container defects in syringes. The high possibility of contamination and defects during syringe packaging is another major factor supporting the adoption of syringe inspection machines in syringe production lines.
APAC market to witness the highest growth during the forecast period
The Asia Pacific is estimated to be the fastest-growing regional market for inspection machines during the forecast period. The increasing number of regulatory mandates to maintain compliance with Good Manufacturing Practices; growing number of pharmaceutical & biotechnology manufacturers; significant growth in the pharmaceutical, food processing & packaging, and medical device industries; and the implementation of favorable government initiatives for ensuring product safety in several Asia Pacific countries are some of the major factors driving the growth of this market.
- Growing Number of Regulatory Mandates in the Healthcare Industry to Maintain Compliance With Good Manufacturing Practices
- Increasing Adoption of Automated Inspection Systems in the Pharmaceutical and Biotechnology Industries
- Growth in the Number of Product Recalls
- Increasing Number of Inspection Checkpoints Throughout the Production Line
- Growth in the Medical Device Industry
- High Cost of Inspection Machines to Increase the Demand for Used and Refurbished Equipment
- Technological Advancements
- Growing Number of Manufacturing Facilities in Developing Countries
- Complexities in Integrating Inspection Machines
- Growing Demand for Combination Inspection Machine Systems
- Automatic Inspection Systems
- Shift to Smart Cameras
Global Pharmaceutical Inspection Machines Market: Penetration and Opportunity
- Pharmaceuticals & Biotechnology
- Food Processing & Packaging
- Medical Devices
- ACG Worldwide
- Antares Vision
- Brevetti C.E.A. SPA
- Cognex Corporation
- Jekson Vision Private Limited
- Krber AG
- Mitsubishi Chemical Holdings Corporation
- Omron Corporation
- OPTEL Group
- Robert Bosch GmbH
- Teledyne Technologies Incorporated
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/alu140
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