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).
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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
Industry Overview:
The Inspection machines market is projected to reach USD 871 million by 2025 from USD 671 million in 2020, at a CAGR of 5.4% during the forecast period. 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).
Market Segmentation
Inspection Machines Market by Product (Vision Inspection, Checkweigher, Metal Detector, Software), Type (Manual, Automatic), Packaging Type (Vials, Syringes, Blisters), End User (Pharmaceutical, Medical Device), COVID-19 Impact - Global Forecast to 2025. North America accounted for the largest share of the inspection machines market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be attributed to the significant growth opportunities for players operating in the inspection machines market owing to the presence of a large number of pharmaceutical and biotechnology companies & medical device manufacturers in the region
The global inspection machines market is consolidated at the top, with a large number of leading market players based in developed countries. The prominent players in this market are Robert Bosch GmbH (Germany), Brevetti C.E.A SPA (Italy), Körber AG (Germany), METTLER TOLEDO International Inc. (US), Teledyne Technologies (US), OMRON Corporation (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Cognex Corporation (US), Jekson Vision Private Limited (India), Thermo Fisher Scientific (US), Antares Vision (Italy), OPTEL Group (Canada), and ACG Worldwide
Robert Bosch GmbH held the leading position in the inspection machines market. Bosch Packaging Technology, a wholly-owned subsidiary of Robert Bosch, provides inspection machines for the healthcare industry. The company offers a broad range of inspection machines.
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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.