Report : South America Inspection Machine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Vision Inspection Systems, X-ray Inspection Systems, Checkweigher, Metal Detector, Software, and Others), Type (Automatic and Manual), Packaging (Ampoules, Vials, Blisters, and Bottles), and End User (Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, and Food Processing & Packaging Companies)
Vision Inspection Systems Segment to dominate South America Inspection Machine Market during 2021–2028
According to a new market research study on “South America Inspection Machine Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Packaging, Type and End User,” is expected to reach US$ 99.15 million by 2028 from US$ 74.46 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the South America inspection machine market along with the drivers and restraints pertaining to the market growth. Surging R&D expenditure in pharmaceuticals and biotechnology industries, ramping technological advancements, and gains of high-tech inspection machines are the major factor driving the growth of the South America inspection machine market. However, burgeoning demand of refurbished instruments hinder the growth of South America inspection machine market.
COVID-19 cases are on the rise in South America; the rising number of cases in Brazil, Peru, Chile, Ecuador, and Venezuela is anticipated to have a negative impact on the market. According to the International Council of Nurses, due to high virus transmission, the number of mortalities among health professionals in Brazil is higher than in other nations. As Brazil has many populated areas and regions with small houses with 6-7 people per house, the virus spreads like wildfire. Currently, the countries in South America region are speedily increasing their clinical programs to fight against the covid-19. In this scenario, the pharmaceutical and biopharmaceutical companies are emphasizing on developing novel treatment therapies for the treatment of covid-19 which is ultimately giving a negative impact on market growth. Furthermore, due to lockdown imposed on several regions of South America the supply of blood and related products also diminished as people cannot step outside from their homes to donate. As the supply of blood diminished it has adversely affected plasma processing companies. Thus, because of above mentioned factors the covid-19 is likely to have negative impact on the market growth.
The South America inspection machine market is segmented on the basis of product, packaging, type, end user, and country. Based on product, the market is segmented into vision inspection systems, x-ray inspection systems, checkweighers, metal detectors, software, and others. In 2021, vision inspection systems segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on type, the market is bifurcated into automatic and manual. In 2021, automatic segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on packaging, the market is segmented into ampoules, vials, blisters, and bottles. In 2021, ampoules segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on end user, the market is segmented into pharmaceutical & biotechnology companies, medical device manufacturers, and food processing & packaging companies. In 2021, pharmaceutical & biotechnology companies segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Similarly Based on country the market is segmented into the Brazil, Argentina, and Rest of SAM. In 2021, Brazil held the largest share in the market and it is also expected to be the fastest growing country during the forecast period.
OMRON Corporation; Thermo Fisher Scientific, Inc.; Cognex Corporation; Syntegon Technology GmbH; METTLER TOLEDO; Teledyne Technologies, Inc.; General Inspection LLC; BREVETTI CEA S.P.A; and Minebea Intec GmbH are among the leading companies in the South America inspection machine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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