Inspection Machine Market is expected to reach US$ 1,172.99 million by 2028 from US$ 821.66 million in 2021
NEW YORK, UNITED STATES, UNITED STATES, November 11, 2021 /EINPresswire.com/ — According The Insight Partners study on “Inspection Machine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Packaging, Type, End User,” The report highlights trends existing in the market, and drivers and hindrances pertaining to the market growth. Factors such as continuous progress in regulations mandating GMP compliance in the healthcare sector, benefits of high-tech inspection machines drives the market growth. However, the growing demand for refurbished instruments hampers the growth of the global inspection machine market.
Market Size Value in: US$ 821.66 million in 2021
Market Size Value by: US$ 1,172.99 million by 2028
Growth Rate: CAGR of 5.3% from 2021 to 2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 203
No. Tables: 111
Segments covered: Product, Type, Packaging, End User, and Geography
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Inspection machines provide the designers and engineers for processing of equipment, tools to assist in tasks such as sorting of syringes, blister packs, catheters, pills and high-speed inspection. These machines comprise systems such as metal detectors, oxygen and pressure/moisture inspection systems, and leak detection systems. The report offers an in-depth analysis of the inspection machine market, emphasizing on market trends, technological advancements, market dynamics, and competitive landscape (involving major market players across the world). It also includes the impact of the COVID-19 pandemic on the market across all the regions. The Inspection Machine market, by region, is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).
North America held the largest market share in 2021. The growth of the market in North America is attributed to positive attitude toward the utilization of inspection machine among men and women, increasing number of online retails, and rising number of innovative product launches. Moreover, rising spending by sex technology companies is likely to fuel the North America inspection machine market growth during the forecast period.
The smart, digital inspection for small and medium-size manufacturers and co-packers who value high performance. The M30 R-Series, built around the leading-edge SENSE software technology, brings new intelligence and sophistication levels to the mid-market metal detection field. Also, FT System’s ROBO QCS offers a fully automated in-line inspection without causing product damage or loss. These inspection devices inspect caps and bottles before they reach the filler or capper to remove any defects, which could impact line efficiencies. Furthermore, many companies are coming up with innovative inspection systems and equipment to keep up its pace with demand. For instance, the TapTone PRO Series Pouch Inspector system finds and rejects leaking and damaged pouches at production line speeds up to 200 feet per minute. Because of these factors, technical improvements in inspection machines are predicted to generate growth chances for the aforementioned market in the coming years.
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
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The inspection machine market, by product, is segmented into vision inspection systems, x-ray inspection systems checkweighers, metal detectors, software, and others. The vision inspection systems segment held the largest share of the market in 2021, and also anticipated to register the highest CAGR of 5.9% in the market during the forecast period.
The inspection machine market, by type, is bifurcated into automatic and manual. The automatic segment held a larger share of the market in 2021, and also anticipated to register a higher CAGR of 5.4% in the market during the forecast period.
Inspection Machine Market: Competitive Landscape and Key Developments
OMRON Corporation, THERMO FISHER SCIENTIFIC INC., Cognex Corporation, Syntegon Technology GmbH (Bosch Packaging Technology), METTLER TOLEDO, Teledyne Technologies Incorporated, General Inspection LLC, BREVETTI CEA S.P.A, Körber AG., and Minebea Intec GmbH are among the leading companies operating in the inspection machine market.
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Mettler-Toledo's new Global Centre of Excellence for X-ray opened in Hertfordshire, UK. It increased the UK manufacturing footprint for x-ray inspection technologies by 80% and helped facilitate company growth. The new site was twice as big as the old production site in Royston; the new building was engaged in R&D, manufacturing, logistics, final quality testing, and repair functions for the company's Safeline x-ray inspection systems.
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Source: EIN Presswire