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 driven by growing concerns about regulatory obligations introduced by governments and regulators in the healthcare industry to maintain Good Manufacturing Practices (GMP) compliance as companies increasingly adopt inspection systems throughout their production lines.
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Key Market Players of Inspection Machines Market:
The prominent players in this market are Robert Bosch GmbH (Germany), Körber AG (Germany), METTLER-TOLEDO International Inc. (US), ACG Group (India), Cognex Corporation (US), OMRON Corporation (Japan), Teledyne Technologies Incorporated (US), Brevetti CEA SpA (Italy).
COVID-19 Impact on Global Inspection Machines Market
the majority of the countries worldwide shut down their borders and limited transportation in a bid to contain the coronavirus (COVID-19) outbreak, thus, creating impediments for international trade and transportation. This had disrupted the supply chains for the inspection machines market, temporarily leading to a fall in demand due to uncertainty in the global economy and capital markets.
Additionally, we are estimating that the major share of the medical devices industry that includes imaging devices, dental care devices, and surgical products, among others, contributes to 60-75% of the overall medical devices market. This will have a stagnant or deep fall in the growth rate in 2020 and in a couple of quarters from 2021. A new, USD 5-7 billion market opportunity (by 2021) is opening up in the medical devices industry, including critical care medical devices. On the other hand, the impact of the pandemic on the pharmaceutical industry has been positive, with a steady increase in the manufacturing of nasal drug delivery technologies and the increasing focus on developing a vaccine
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Opportunity: Outsourcing of operations and the growing number of manufacturing facilities in emerging economies
During the last decade, businesses in developed markets, such as the US and Europe, have increasingly outsourced their manufacturing and packaging operations to China, South Korea, Taiwan, and India to leverage the lower labor costs and less-stringent government regulations in these countries. Contract manufacturers have specialized teams that help understand customer expectations of quality and thus are a significant OEM asset. The importance of CROs and CMOs in manufacturing and packaging has also risen due to the potential for tightening time-frames while providing external validation and expertise.
Recent Developments
- Antares partnered with IMA; a company engaged in the design production of machines for process automation and packaging of pharmaceutical cosmetic products.
- METTLER-TOLEDO International Inc. launched their Tablet-Pro metal detection systems.
- Cognex Corporation launched the DSMax32T laser displacement 3D system.
- ACG Inspection opened a new Centre of Excellence in Switzerland.
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