Inspection Machines Market Worth 396.4 Million USD by 2021
PUNE, India, August 15, 2016 /PRNewswire/ --
According to a new market research report " Inspection Machines Market by Type (Full Automated, Semi-automated, Manual), Product (Leak Detectors, Vision Machine), Packaging (Ampoules, Blisters, Syringes, Vials), End user (Pharmaceutical, Medical device) - Global Forecast to 2021", published by MarketsandMarkets, The global market is expected to reach USD 396.4 Million by 2021. This market is estimated to be valued at USD 298.0 Million in 2016 and grow at a CAGR of 5.9% from 2016 to 2021.
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Market growth can be attributed to the growing number of regulatory mandates in the healthcare industry to comply with current Good Manufacturing Practices (cGMPs), increasing adoption of automated inspection systems, and the increase in the number of product recalls and inspection checkpoints throughout the production line.
On the other hand, the major restraint to the growth of this market would be the sales of used and refurbished equipment, which cannibalizes the share of new equipment.
The inspection machines market is segmented based on product, type, packaging, end user, and region. Based on products, 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, pressure/moisture inspection systems). In 2015, the vision inspection machines segment accounted for the largest share of the inspection machines market. The high adoption rate of camera-based vision inspection machines by pharmaceutical & biotechnology companies and medical device manufacturers is the primary reason behind the higher market share of this segment.
By type, the market is segmented into three segments fully, semi-automated, and manual inspection machines. In 2015, the fully automated inspection machines segment accounted for the largest share of the inspection machines market due to the greater use of fully automatic inspection machines in pharmaceutical & biotechnology companies, as these machines detect flaws in quickly and accurately.
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By packaging, the market is segmented into five segments ampoules & vials, blisters, bottles, syringes, and others (stick packs, cartridges, and pouches). In 2015, the ampoules & vials packaging segment accounted for the largest share of the inspection machines market. Its large share is primarily attributed to the wide use of inspection machines by pharmaceutical and biotechnology companies mainly to inspect ampoule & vial integrity.
By end user, the inspection machines market is segmented into pharmaceutical & biotechnology companies, medical device manufacturers, and other end users (nutraceutical and cosmetics companies). In 2015, the pharmaceutical & biotechnology companies are estimated to account for the largest share of the market. Growing number of regulatory mandates to maintain compliance with current Good Manufacturing Practices (cGMPs) and increased product recalls and inspection checkpoints throughout the production line are some of the major factors propelling the adoption of inspection machines among these end-user segments.
In 2015, North America was the largest regional segment in the global inspection machines market. The inspection machines market in the Asia-Pacific region is expected to offer significant growth opportunities for market players during the forecast period. Growth in this regional segment is majorly attributed to the growing number of pharmaceutical and biotechnology manufacturing facilities in this region. Further, emerging economies such as China and India provide significant growth opportunities for the inspection machines market.
The key players in the global inspection machines market include 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 Körber Medipak Systems AG (Switzerland).
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