The growing number of regulatory mandates in the healthcare industry to comply with current Good Manufacturing Practices (cGMPs), the increasing adoption of automated inspection systems, and the increase in the number of product recalls and inspection checkpoints throughout the production line signal good news for the future of the global inspection machinery market.
A new MarketsAndMarkets research report predicts this equipment sector to reach US$396.4 million by 2021, up from estimated value of US$ 298.0 million this year, representing a Compound Annual Growth Rate of 5.9% during that timeframe.
A major restraint to the growth of this market, says the report, will be the sales of used and refurbished equipment, which cannibalizes the share of new equipment.
The 167-page report includes 108 market data tables. MarketsAndMarkets notes early buyers will receive 10% customization on this report.
The report segments the inspection machines market by product, type, packaging, end user, and region.
Based on products, the market is segmented into seven segments: vision inspection systems, leak detection systems, X-ray inspection systems, metal detectors, checkweighers, software, and other inspection systems (carbon dioxide, oxygen, pressure/moisture inspection systems).
In 2015, the vision inspection machines segment accounted for the largest share of the inspection machines market. The high adoption rate of camera-based vision inspection machines by pharmaceutical and biotechnology companies and medical device manufacturers is the primary reason behind the higher market share of this segment.
By type, the market is segmented into three segments: fully, semi-automated, and manual inspection machines. In 2015, the fully automated inspection machines segment accounted for the largest share of the inspection machines market due to the greater use of fully automatic inspection machines in pharmaceutical and biotechnology companies, as these machines detect flaws in quickly and accurately.
By packaging, the market is segmented into five segments: ampules and vials, blisters, bottles, syringes, and others (stick packs, cartridges, and pouches). In 2015, the ampules and vials packaging segment accounted for the largest share of the inspection machines market, primarily attributable to the wide use of inspection machines by pharmaceutical and biotechnology companies mainly to inspect ampule and vial integrity.
By end user, the inspection machines market is segmented into pharmaceutical and biotechnology companies, medical device manufacturers, and other end users (nutraceutical and cosmetics companies).
In 2015, the pharmaceutical and biotechnology companies were estimated to account for the largest share of the market. An increase in regulatory mandates to maintain compliance with current Good Manufacturing Practices (cGMPs) and increased product recalls and inspection checkpoints throughout the production line serve as major factors propelling the adoption of inspection machines among these end-user segments.
In 2015, North America was the largest regional segment in the global inspection machines market. The inspection machines market in the Asia-Pacific region is expected to offer significant growth opportunities through 2021.
Growth in this regional segment is majorly attributed to the growing number of pharmaceutical and biotechnology manufacturing facilities in this region. Specifically, emerging economies such as China and India provide significant growth opportunities for the inspection machines market.
