LOS ANGELES, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Global Inspection Machines Market is expected to grow at a CAGR of around 5.5% from 2020 to 2027 and reach the market value of over US$ 978.5 Mn by 2027.
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Inspection machines are used to inspect the quality of the product in terms of packaging, packaging component, weight, leakage, and dimension particularly to maintain consistency throughout the production line. The rising focus on the quality of the product is primarily driving the market growth. The presence of major governmental and non-governmental authorities that are inspecting the final products deploying in the market by the manufacturers is bolstering the inspection machines market growth. For example, healthcare regulatory bodies including Healthcare Compliance Packaging Council (HCPC), the U.S. Food and Drug Administration (FDA), and the National Quality Forum (NQF) are making possible efforts to improve pharmaceutical packaging in the global market to prevent the contamination of drug and other medical products.
The global inspection machines market is segmented based on the product, type, application, end-user, and geography. Based on the product, the market is bifurcated into vision inspection systems, leak detection systems, x-ray inspection systems, combination systems, check weighers, metal detectors, software, and other inspection systems. Based on type, the market is segmented into fully-automated inspection machines, semi-automated inspection machines, and manual inspection machines. Additionally, inspection machines have applications across ampoules & vials, syringes, blister packaging, bottles, and other packaging types. Moreover, the end-users of inspection machines include pharmaceutical & biotechnology companies, medical device manufacturers, food processing & packaging companies, and others.
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In 2019, North America held the major share (%) in terms of revenue in the global inspection machines market, and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The major economies of the region including the US and Canada are the major contributors to the regional market value. The region is followed by Europe.
Furthermore, Asia Pacific is anticipated to exhibit the fastest growth over the forecast period from 2020 to 2027. The major economies of the region including Japan, China, and India are the major contributors to the regional market growth. The increasing disposable income, rapid industrialization, and increasing per capita income are some of the major factors supporting the regional market growth during the forecast timeframe from 2020 to 2027.
Some of the leading competitors are BREVETTI CEA SPA, Cognex Corporation, General Inspection, Korber Medipak Systems AG, METTLER TOLEDO, Omron Corporation, Robert Bosch Packaging Technology GmbH, Sartorius AG, Teledyne Digital Imaging Inc, and Thermo Fisher Scientific Inc. Inspection Machines companies have announced mergers and acquisitions, partnerships & collaborations and new product development to uplift their position in the inspection machines industry. Major players are also moving into new regions with their advanced technologies for gaining a competitive advantage.
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Some of the key observations regarding the inspection machines industry include:
- Antares Vision has partnered with the IMA group in 2020. The companies have signed a five-year partnership which has made Antares the exclusive supplier of all inspection and tracking technologies. Whereas, IMA is a leader in the design & production for process automation and packaging machines of pharmaceutical & cosmetic products.
- ACG Inspection has opened a new Centre of Excellence in 2019. ACG is the only integrated pharmaceutical manufacturing and packaging Solutions Company that has opened a 'Centre of Excellence' in Switzerland.
- Mettler-Toledo International Inc. has launched its Tablet-Pro metal detection in 2019. The new launch is anticipated to expand the company’s share in the market.
- Cognex Corporation has launched the DSMax32T laser displacement sensor in 2019. It’s a 3D displacement sensor for acquiring images and inspecting products in 3D.
- Robert Bosch GmbH has launched a leak detection system in 2017, particularly to expand its portfolio in the mid-range performance equipment segment. The company has also invested US$ 8.21 Bn in R&D to meet the changing needs of the end-user.
- Kober AG has acquired Systec and Services GmbH in 2017 particularly to strengthen the company's pharma business and this strategic acquisition has provided the ground for expansion in the global market.
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