The inspection machines market is estimated to reach USD 764.5 million in 2023, which will rise to USD 1,058.2 million, with a 4.8% CAGR, by 2030.
The growth of this industry is because of the technological developments in inspection systems, rising acceptance of electronic inspection platforms, and surging count of strict regulatory guidelines.
In 2023, the vision inspection systems category, based on product, accounted for the largest share, of 25%. This can be because this system offers an inexpensive means to guarantee reliability and accuracy in manufacturing procedures. This removes the likelihood of human fault and, as a result, decreases the risk of lawsuits.
Moreover, the X-ray inspection systems category was also a significant contributor to the industry. This can be because X-rays are non-destructive and non-intrusive, which makes them a perfect option for product inspections across various sectors. After all, their rays don’t modify the quality of the products being inspected.
North America is leading the industry in 2023, with a 40% share. This is attributed to the execution of strict regulatory commands by the FDA as well as several other government institutions to uphold product quality.
For example, the FDA CFR instructs every pharmaceutical establishment to come up with written standard operating measures for every procedure, including production and process control.
APAC will advance at the highest CAGR during this decade, because of the existence of leading pharmaceutical companies. Moreover, the regional industry is also driven by the increasing spending on medical facilities and the mounting aging populace which have boosted the requirement for biologic and pharmaceutical medicines.
With the developments in inspection system technology and the growing implementation of electronic inspection platforms, the inspection machines industry will continue to progress in the coming years.
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