Global Inspection Machines Market to Reach USD 846.4 million by 2022Published On: May 4, 2017
The global inspection machines market will increase at a CAGR of 5.7% from 2017 to 2022 to USD 846.4 million by 2022, driven by growing aging population, increase in chronic and infectious diseases, increasing growth of pharmaceutical market, and various technical advancements. In addition, emergence of new application areas further provides significant opportunities for the various stakeholders in the global inspection machines market.However, the high cost of inspection machines and the growing adoption of refurbished machines is expected to hamper the growth of the market to some extent.
In the era of automation, technologically updated inspection equipment helped to overcome the problems associated with traditional approaches which used labour-intensive methods that resulted in the increase of manufacturing lead time and production cost. In addition, there is a significant delay in detecting an out of control limit. Thus, the products that are not conforming to the specified standards accrue to the additional cost of scrap and rework. Hence, to reduce the errors to great extent by automating the process, automated and semi-automated inspection machines are highly adopted in the pharmaceutical manufacturing plants.
The global inspection machines market is segmented by technology (fully automatic machines, semi-automatic machines), component (pharma/ biopharma products, medical devices, and packaging), and region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). North America holds the major share in the global inspection machines market followed by Europe and Asia-Pacific region. Asia Pacific region shows a substantial growth in the inspection machines market primarily due to the growing population, especially in India and China, rising awareness of healthcare, presence of large number of pharmaceutical manufacturers, and increasing growth of ageing population along with chronic and infectious diseases.
The leading companies have employed various strategies to expand their product and services offerings, global footprint, and augment their market share. The key strategies followed by most companies in the global inspection machines market were new products developments, agreements and collaborations, and expansions. New Product Launches/Enhancements was a most preferred growth strategy adopted by the key players, during the period of 2014-2017, enabling companies to expand their product offerings and ensure a competitive edge in the global inspection machines market. The key players in the global inspection machines market are ACG Worldwide, Brevetti C.E.A. Spa, NKP Pharma, Antares Vision S.r.l., Stevanato Group, Bausch + Ströbel, Robert Bosch GmbH, Jeckson Vision, Körber AG (Seidenader Maschinenbau GmbH, Medipak Systems), Optel Group, Sainty International Group, and Daiichi Jitsugyo Viswill Co., Ltd.
Key questions answered in the report-
- Which are the high growth market segments in terms of technology, component, regions and countries?
- What is the historical market for inspection machines market across the globe?
- What are the market forecasts and estimates from the period 2015-2022?
- What are the major drivers, restrains, threats, and opportunities in the global inspection machines market?
- What are the burning issues of the global inspection machines market?
- Who are the major players in the global inspection machines market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- What are the competitive landscapes and who are the market leaders by sub-region in the global inspection machines market?
- What are the recent developments in the global inspection machines market?
- What are the different strategies adopted by the major players in the global inspection machines market?
- What are the geographical trends and high growth regions/ countries?
- What are the local emerging players in the global inspection machines market and how do they compete with the global players?
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