INSPECTION MACHINES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The vision inspection system is anticipated to witness significant growth in the inspection machines market owing to the factors such as the rising number of counterfeit drugs and increasing product recalls as well as the adoption of GMP practices and novel inspection systems by the pharmaceutical industry.

The increasingly stringent regulatory measures in maintaining a secure drug supply in the wake of rising counterfeit drugs, and the introduction of technological advanced products have increased the adoption of innovative inspection systems for the real-time tracking, tracing, and authentication of drugs in the pharmaceutical industry. These factors are projected to increase segment growth over the forecast period. For instance, according to the WHO report, there has been an increase in the number of cases of substandard and falsified (SF) medical items by 52% in 2021 as compared to the previous year. Similarly, in 2021, WHO’s worldwide surveillance and monitoring system for substandard and counterfeit medical products discovered fraudulent versions of the COVID-19 vaccine Covishield in India and Uganda. Thus, such cases of counterfeit drugs are likely to raise the demand for inspection machines thereby supporting market growth.

The inspection machines market is projected to register a CAGR of 5.2% during the forecast period.

The COVID-19 pandemic had a significant impact on the growth of the inspection machines market. For instance, a research study published in Clinical Therapeutics, in December 2021, stated that the COVID-19 pandemic has affected the management and operation of regulatory agencies as well as the pharmaceutical industry around the world. However, the increased government restrictions to comply with good manufacturing (GMP) practices, resumed services and the growing product recalls across the globe have increased the demand for inspection machines. For instance, in January 2021, Stevanato Group collaborated with Microsoft Italy to meet the challenges that the pharmaceutical glass industry was experiencing during the COVID-19 pandemic. The company provides packaging and syringes for the major international anti-COVID-19 vaccine programs, as well as pharmaceutical inspection equipment. Thus, the studied market is anticipated to grow and regain its full potential over the forecast period.

Read Full Market Report

Comments

Post a Comment

Popular posts from this blog

Shipping Containers Market Projected to Reach USD 12.77 Billion by 2030, Driven by E-commerce Growth and Cold-Chain Expansion

  Introduction   The global shipping containers market is experiencing steady growth, with projections indicating an increase from USD 10.27 billion in 2025 to USD 12.77 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.46%. According to Mordor Intelligence Shipping Containers Market Report , this expansion is primarily fueled by the surge in e-commerce activities, the need for efficient cold-chain solutions, and advancements in intermodal transportation.   Key Trends   E-commerce Fulfillment   The rapid growth of e-commerce has significantly impacted on the shipping containers market. The demand for faster and more efficient delivery systems has led to increased use of standardized containers, particularly 40-foot units, which accounted for 52.64% of the market share in 2024.   Cold-Chain Expansion   The pharmaceutical and food industries' need for temperature-controlled transportation has driven the demand for refrigerated c...
Read more

DATA CENTER POWER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

  The IT industry requires on-premise private data storage and hyper-scale data centres for its operations, depending on the size of the organization. Additionally, the adoption of cloud storage has increased over the years due to growth among SaaS providers, enabling cloud storage providers to expand their capacities. Hence, the increasing data load requires more power. This creates a requirement for efficient power solutions in IT applications. According to the Data Center Survey recently published by Vertiv, 98% of the participants voted for IT utilization to be above 20% by 2025. This indicates that IT companies are focusing on deploying an efficient power source for their data centres and increasing their utilization rate. Cloud storage providers, like AWS, Microsoft, and Google, are expanding their storage capabilities to offer more efficient workflows in the cloud. These companies are making investments in hyperscale deals. For instance, in June last year, Amazon Web Service...
Read more

Second Hand Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 The Off-the-Shelf Second Hand Furniture Market is segmented into the distribution channel, which is further segmented into online and offline, out of which the offline segment, with a larger market share in 2021, is anticipated to have the largest share during the forecast period. However, with the rise of an increasing number of smartphone users and increasing penetration of internet users, the market share for the online segment is expected to grow at a higher rate over the forecast period. The Asia Pacific is expected to account for a larger share in terms of revenue during the forecast period. The increasing size of the online marketplace for second-hand goods is anticipated to drive the growth of the Asia Pacific regional market.  The Off-The-Shelf Second Hand Furniture Market size is estimated at USD 21.30 billion in 2023, and is expected to reach USD 29.28 billion by 2028, growing at a CAGR of 6.57% during the forecast period (2023-2028). The market is increasi...
Read more