According to the new market research report “Inspection Machines Market by Type (Full Automated, Semi-automated, Manual), Product (Leak Detectors, Vision Machine), Packaging (Ampoules, Blisters, Syringes, Vials), End user (Pharmaceutical, Medical device) – Global Forecast to 2021″, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
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The global inspection machines market is expected to reach USD 396.4 Million by 2021. This market is estimated to be valued at USD 298.0 Million in 2016 and grow at a CAGR of 5.9% from 2016 to 2021.
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The global inspection machines market is projected to reach USD 396.4 Million by 2021, at a CAGR of 5.9% from 2016 to 2021. The prominent drivers of this market are the growing number of regulatory mandates to maintain compliance with current Good Manufacturing Practices (cGMPs), increased product recalls, growing adoption of automated inspection systems, and rising number of inspection checkpoints in the production line. On the other hand, the sales of used and refurbished equipment encroaching on new unit business is a major restraint for market growth.
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The Asia-Pacific region, on the other hand, represents the fastest-growing market for the inspection machines market. The high growth rate in this market is primarily attributed to the growing number of pharmaceutical & biotechnology manufacturers and increased number of regulatory mandates to comply with cGMPs in these emerging markets.
Major players focus on new product launches, product upgradation, expansion, partnerships, agreements, collaboration, and acquisition as key growth strategies. New product launches was the key strategy adopted by the major market players in 2013–2016.
Key Players:
Some of the prominent players in the global inspection machines market are Robert Bosch GmbH (Germany), Cognex Corporation (U.S.), Omron Corporation (Japan), Mettler-Toledo International Inc. (U.S.), Teledyne Technologies Inc. (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), Sartorius AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Brevetti C.E.A. SPA (Italy) and Vitronic GmBH (Germany).
Further breakdown of the Latin American market into Brazil, Argentina, and the Rest of Latin America