Inspection Machines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Inspection Machines Market is projected to register a CAGR of 5.2% during the forecast period (2022-2027).

The COVID-19 pandemic had a negative impact on the inspection machines market. Various research studies have been conducted on the covid impact on the studied market. For instance, in December 2021, a research study published titled "The Utility of Remote Inspections During the COVID-19 Health Emergency and in the Postpandemic Setting" stated that the COVID-19 pandemic has affected the management and operation of regulatory agencies and the pharmaceutical industry around the world. Hence, remote inspections are key to increasing reliability in the healthcare sector manufacturing. Furthermore, remote inspections undoubtedly come with some technical challenges. For instance, to facilitate the live remote monitoring of a manufacturing site, it is important to have a stable internet connection with sufficient bandwidth. The internet connection can be an issue for manufacturing sites located in areas that lack the required infrastructure to support a high-speed internet connection.

Factors such as increasing regulatory compliance with good manufacturing practices (GMP)and increasing product recalls are other factors for the growth of the market. Research studies have provided insight into the effect of GMP on manufacturing. For instance, in June 2020, a research study published titled "Good Manufacturing Practice (GMP) Compliance for Phage Therapy Medicinal Products" stated that during the production steps, the compliance with the Good Manufacturing Practice (GMP) represents the gold standard to ensure the quality, safety and efficacy of medicinal products, either investigational or approved. The implementation of GMP rules for phage therapy medicinal products benefits from the long history of vaccine development. Additionally, various regions and countries have mandated GMP. GMP requires that medicines are of consistently high quality, are appropriate for their intended use, and should meet the requirements of the marketing authorization or clinical trial authorization. Similarly, medical device recals are another factor for the growth of the market. For instance, in August 2021, an article published by the United States Food and Drug Administration stated that FDA uses the term “recall” when a manufacturer takes a correction or removal action to address a problem with a medical device that violates FDA law. Recalls occur when a medical device is defective, when it could be a risk to health, or when it is both defective and a risk to health. Various examples of the types of actions that may be considered recalls are for inspecting the device for problems, repairing the device, adjusting settings on the device, re-labeling the device, destroying device, notifying patients of a problem, and monitoring patients for health issues. The FDA maintains database for the year recalls of medical devices. For instance, in March 2022, Medtronic recalled TurboHawk Plus Directional Atherectomy System due to the risk of tip damage during the use. Additionally, in March 2022, Arrow International, LLC (Subsidiary of Teleflex Inc.) recalled the Arrow-Trerotola Percutaneous Thrombolytic Device due to the risk of tip damage during the use. Hence, the abovementioned factors are expected to drive the market growth.

However, growing demand for refurbished equipments would hinder the market growth.

Scope of the Report

As per the scope, inspection machines provide a layer of quality assurance through the examination of products, packages, and material components to ensure they meet all specifications. The Inspection Machines Market is Segmented by Product (Vision Inspection System, X-ray Inspection System, Leak Detection System, Metal Detectors, and Others), End User (Pharmaceutical & Biotech Companies, Medical Device Manufacturer, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

X-ray Inspection System Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Factors such as product development and launches by key market players coupled with various research studies are likely to increase the growth of the segment in the studied market. For instance, in November 2021, OMRON Corporation released a new VT-X750-V3 system, whic is considered to be fastest CT-type X-ray inspection device. The VT-X750-V3 delivers advanced, true 3D inspection of electronic substrates. Similarly, in September 2021, the Nordson TEST & INSPECTION division, part of the Nordson Corporation launched X-ray Technologies OEM product range for industrial & pre-clinical X-ray imaging systems. Such product launches increase the presence of more advanced and efficient products which increases the growth of the segment. The development of better technology to enhance the images are another factor on which various research studies have been published. For instance, in April 2020, a research study published titled "Development of a high resolution x-ray inspection system using a carbon nanotube based miniature x-ray tube" stated that a new concept for a non-destructive testing device using a novel carbon nanotube (CNT) based miniature x-ray tube is proposed. The device can be used for small-scale internal inspection of objects. Such advancement would increase the inspection of devices. Hence, due to the above-mentioned factors, the market is expected to increase in the future.

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