Inspection Machines Market To Generate $1,058.2 Million Revenue by 2030

The global inspection machines market revenue is expected to reach USD 1,058.2 million by 2030, exhibiting a CAGR of 4.8% during 2024–2030. This is attributed to the rising requirement to ensure that the regulatory guidelines are met, increasing number of product launches and collaborations among top industry players, technological enhancements in the sector, and growing number of manufacturing facilities.

The rising cases of product recalls in different sectors across the world have led to the implementation of stringent quality and safety regulations by governments. This has, in turn, resulted in the increasing compliance pressure on the biotechnology, food, and pharmaceutical industries. In the fiscal year 2022, the Food and Drug Administration issued more than 60 warning letters and around 25 import alerts to pharmaceutical organizations.

Furthermore, the increasing number of product launches by the top players across the globe to gain a competitive edge is fueling the growth of the market. For instance, in January 2022, U.K.-based company Ishida Europe launched its next-generation dual energy X-ray inspection platform namely, IX-G2. The platform offers enhanced sensitivity for the identification of foreign and low-density particles. The machine consists of a new line sensor, which provides enhanced X-ray images, allowing QC teams to better detect contaminants.

In addition, in January 2021, U.S.-based Cognex Corporation launched the In-Sight 3D-L4000 Vision System with three-dimensional laser displacement technology, which enables engineers to rapidly, precisely, and economically carry out several kinds of inspections on automated production lines.

Pharmaceutical & Biotechnology Companies Category Dominates End User Segment

On the basis of end user, the pharmaceutical & biotechnology companies category led the market, with a share of 40%, in 2023. This is attributed to the rising need for regulatory compliance because of the increasing pressure on pharmaceutical and biotechnology firms to come up with quality products.

Inspection is a crucial procedure for pharmaceutical and biotechnology firms in order to prevent product contamination, which results in inevitable product recalls and, in turn, significant financial and credibility losses. Moreover, there has been a rising demand for biologics and conventional drugs due to the increasing burden of chronic ailments.

The presence of contaminants in therapeutics can have a negative effect on patients’ health, with the probability to increase the risk of long-term morbidity and mortality. It has, thus, become crucial for all biotechnology and pharmaceutical firms to produce apt-quality medicines. Therefore, product examination has become essential for life sciences companies, which, in turn, is significantly increasing the market growth potential.

Asia-Pacific To Exhibit Highest Growth Rate during Forecast Period

Asia-Pacific is expected to witness the highest growth rate during the projection period, as the region is a leading market for pharmaceuticals. This is because the rising expenditure on medical facilities, significant prevalence of cardiac ailments, and increasing geriatric population have increased the demand for biologic and pharmaceutical drugs. This increasing demand for medications has further propelled the need for inspection systems to ensure proper quality and avoid recalls.

In addition, the rising awareness among people regarding food product recalls due to the presence of contaminants in such products, such as heavy metals, pathogens, and toxic chemicals, is also resulting in the increasing demand for inspection machines.

Key players in the market are Thermo Fisher Scientific Inc., Robert Bosch GmbH, Cognex Corporation, Körber AG, Mettler-Toledo International Inc., OMRON Corporation, Sys-Tech Design Inc., Jekson Vision, and Loma Systems.