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(IT-NEWSWIRE.COM, January 06, 2021 ) Regulatory mandates in the healthcare industry to maintain compliance with Good Manufacturing Practices, increasing number of inspection checkpoints in production lines, growing number of product recalls, rising penetration of automated inspection systems in the pharmaceutical & biotechnology industries, and technological evolution in inspection systems are the major factors driving the growth of this market.
What This Report Will Provide:
This study involved the extensive use of primary and secondary sources and involved an in-depth analysis of the various factors affecting the growth of the global inspection machines market. Both primary and secondary research were used to identify the segmentation types, trends, key players, key market dynamics, and key player strategies as well as derive the competitive leadership mapping and competitive landscape in this market.
The global inspection machines market is projected to reach USD 774 million by 2024 from USD 592 million in 2019, at a CAGR of 5.5%.
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End Users:
Pharmaceutical & biotechnology companies are expected to account for the largest share of the inspection machines market, by end user, in 2019. The large share of this segment can majorly be attributed to stringent government regulations regarding packaging quality and the increasing need to combat counterfeit pharmaceutical products, product recalls, and the prevention of loss of business revenue.
Geographical Growth:
APAC market is estimated to grow at the highest CAGR during the forecast period
The inspection machines market in the APAC is estimated to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to factors such as the increasing number of regulatory mandates to maintain compliance with Good Manufacturing Practices; growing number of pharmaceutical & biotechnology manufacturers; significant growth in the pharmaceutical, food processing & packaging, and medical device industries; and favorable government initiatives to promote the inspection of products in the pharmaceutical and biopharmaceutical industries in several Asia Pacific countries .
Fully automated inspection machines segment to account for the largest share of the inspection machines market, by type, in 2019
The fully automated machines segment is expected dominate the inspection machines market, by type, in 2019. The large share of this segment can majorly be attributed to advantages offered by fully automated inspection machines (such as high-throughput, maximum inspection accuracy, high detection rate, and compliance with high-standard regulations), growing demand for quality requirements as part of the zero-error strategy, and the increasing adoption of automated machines by various end users.
Global Leaders:
The prominent players operating in the global inspection machines market are ACG Worldwide (India). Körber AG (Germany), METTLER TOLEDO International Inc. (US), Brevetti C.E.A SPA (Italy), Teledyne Technologies (US), Cognex Corporation (US), Omron Corporation (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Jekson Vision Private Limited (India), Thermo Fisher Scientific (US), Antares Vision (Italy), OPTEL Group (Canada), and Robert Bosch GmbH (Germany).
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
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