Immunoassay Market 1 14

Inspection Machines Market Size to Worth Around USD  980 Million by 2027

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New York: The Report on Inspection Machines Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Inspection Machines Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors. The global Inspection Machines market gathered revenue around USD 773 million in 2020 and market is set to grow USD 980 million by the end of 2027 and is estimated to expand at a modest CAGR of 7.6% during the prediction period 2021 to 2027.

Overview of Inspection Machines Market Study

Inspection Machines market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

The growth of this market is majorly driven as companies are now increasingly adopting inspection systems throughout their production lines due to the growing concerns to the regulatory mandates introduced by the government and regulatory bodies in the healthcare industry to maintain compliance with Good Manufacturing Practices (GMP).

Furthermore, the increasing adoption of automated inspection systems in the pharmaceutical and biotechnology industries, growth in the number of product recalls, an increasing number of inspection checkpoints throughout the production line, and technological advancements in inspection systems support the growth of the market. However, the growing demand for used and refurbished inspection systems is expected to restrain this market’s growth to a certain extent. Also, the complexities of introducing inspection machines in a production line may hamper the market’s growth to a certain extent.

Inspection Machines Market Dynamics
Driver: Growing number of regulatory mandates to maintain compliance with GMP in the healthcare industry

Regulatory agencies, such as the Food and Drug Administration (US), European Medicines Agency, and the Pharmaceuticals and Medical Devices Agency (Japan), ensure the quality of drugs and medical devices by carefully monitoring the compliance of manufacturers with Current Good Manufacturing Practice (CGMP) regulations. CGMP regulations for drugs and medical devices contain minimum requirements for the methods, facilities, and controls used in manufacturing, processing, and packing them. The regulations that have been implemented ensure that products are safe for use and have the ingredients and strength they claim to have.

Restraint: Lack of access in emerging markets

Emerging markets will play a vital role in the growth of the market in the future. Increasing population and attractive demographics serve as growth drivers for the pharmaceutical industry in various regions. This provides high growth opportunities for leading pharmaceutical companies experiencing issues related to the stagnancy of markets, stringent regulatory policies, and patent expiry. However, poverty, lack of proper infrastructure, and prevalence of unorganized healthcare systems in emerging markets are restraining the growth of the market.

Opportunity: Outsourcing of operations and the growing number of manufacturing facilities in emerging economies

During the last decade, businesses in developed markets, such as the US and Europe, have increasingly outsourced their manufacturing and packaging operations to China, South Korea, Taiwan, and India to leverage the lower labor costs and less-stringent government regulations in these countries. Contract manufacturers have specialized teams that help understand customer expectations of quality and thus are a significant OEM asset. The importance of CROs and CMOs in manufacturing and packaging has also risen due to the potential for tightening time-frames while providing external validation and expertise.

Challenge: Complexities in integrating inspection machines

Inspections remain an indispensable tool of modern manufacturing to prevent equipment failures, process deviations, and quality defects. If performed properly, inspections can directly support both the top line and bottom line by maintaining the condition and reliability of facilities & equipment, ensuring product quality, reducing downtime, rework, and even driving continuous improvement. However, the integration of inspection machines into the production and packaging line is challenging, considering the complexity of the machines and different end-user requirements. There is a significant need to simplify the integration process for the different components of inspection machines and the production line at the application site. For instance, the assembly instructions for the integration of machines are often significantly outdated and seldom reflect active quality alerts or engineering change orders.

Restraint: Lack of access in emerging markets

Emerging markets will play a vital role in the growth of the market in the future. Increasing population and attractive demographics serve as growth drivers for the pharmaceutical industry in various regions. This provides high growth opportunities for leading pharmaceutical companies experiencing issues related to the stagnancy of markets, stringent regulatory policies, and patent expiry. However, poverty, lack of proper infrastructure, and prevalence of unorganized healthcare systems in emerging markets are restraining the growth of the market.

Opportunity: Outsourcing of operations and the growing number of manufacturing facilities in emerging economies

During the last decade, businesses in developed markets, such as the US and Europe, have increasingly outsourced their manufacturing and packaging operations to China, South Korea, Taiwan, and India to leverage the lower labor costs and less-stringent government regulations in these countries. Contract manufacturers have specialized teams that help understand customer expectations of quality and thus are a significant OEM asset. The importance of CROs and CMOs in manufacturing and packaging has also risen due to the potential for tightening time-frames while providing external validation and expertise.

Challenge: Complexities in integrating inspection machines

Inspections remain an indispensable tool of modern manufacturing to prevent equipment failures, process deviations, and quality defects. If performed properly, inspections can directly support both the top line and bottom line by maintaining the condition and reliability of facilities & equipment, ensuring product quality, reducing downtime, rework, and even driving continuous improvement. However, the integration of inspection machines into the production and packaging line is challenging, considering the complexity of the machines and different end-user requirements. There is a significant need to simplify the integration process for the different components of inspection machines and the production line at the application site. For instance, the assembly instructions for the integration of machines are often significantly outdated and seldom reflect active quality alerts or engineering change orders.

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COVID-19 Impact on Inspection Machines Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Inspection Machines market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Inspection Machines market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Inspection Machines market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Inspection Machines market include:

Thermo Fisher Scientific (US), Robert Bosch GmbH (Germany), OPTEL Group (Canada), Körber AG (Germany), Cognex Corporation (US), METTLER-TOLEDO International Inc. (US), Teledyne Technologies Incorporated (US), ACG Group (India), OMRON Corporation (Japan), Antares Vision S.p.A. (Italy), Brevetti CEA SpA (Italy), Jekson Vision Private Limited (India), Mitsubishi Chemical Holdings Corporation (Japan), Shanghai Tofflon Science and Technology Co. Ltd. (China), Systech International (US), LOMA Systems (UK), Laetus GmbH (Germany), VITRONIC (Germany), WIPOTEC-OCS GmbH (Germany), and SEA Vision S.r.l. (Italy)

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global Inspection Machines Market, by Product

  • Vision Inspection Systems
  • Leak Detection Systems
  • X-ray Inspection Systems
  • Combination Systems
  • Checkweighers
  • Metal Detectors
  • Software
  • Other Inspection Systems

Global Inspection Machines Market, by Type

  • Fully-automated Inspection Machines
  • Semi-automated Inspection Machines
  • Manual Inspection Machines

Global Inspection Machines Market, by Application

  • Ampoules & Vials
  • Syringes
  • Blister Packaging
  • Bottles
  • Other Packaging Types

Global Inspection Machines Market, by End User

  • Pharmaceutical & Biotechnology Companies
  • Medical Device Manufacturers
  • Food Processing & Packaging Companies
  • Other End Users

Why Buy this Report?

The purpose of Nova one advisor’s Inspection Machines market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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James Root have over 6+ years of experience working in business development, and customer retention. I’ve gained my experience through serving higher education, healthcare, automotive, aerospace, manufacturing, local government and hospitality businesses with technical solutions.

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