Market Introduction
Asia Pacific inspection machine market consists of major economies such as, and China, India, Japan, South Korea, Australia, and Rest of APAC. China is the largest market for Asia Pacific inspection machine and the growth the market is primarily attributed to several pharma and biotech discoveries driven by research & development and the country's rising number of clinical trials. The market's growth is attributed to the increasing R&D activities, rising investments in the healthcare sector, and increasing cases of chronic diseases such as cancer. Moreover, China is among major suppliers for analytical consumables such as the reagents, biomarkers and others. For instance, in January 2020, PPD, Inc. expanded its China operations and leadership team to provide more international and Chinese biopharmaceutical companies with more extensive clinical development, laboratory supervision, research unit implementation, patient recruitment, and post-approval services. The rising in government programs and active investment for global investors are expected to drive inspection machine market growth in coming years.
Due to the COVID-19 pandemic the region is witnessing the supply chain disturbances and the tremendous demand for efficient treatments for the therapy of COVID-19 have put the healthcare research industry in a crucial situation. Prohibitive measures have been taken to control the spread of this pandemic. COVID-19 pandemic has broadly affected that economies in the Asia Pacific region. Countries such as India, China, Japan, and South Korea were adversely affected by the pandemic. The socioeconomics was severely affected, rising in negative inflation, GDPs, and a regional unemployment surge. Countries such as China, Japan, Singapore, and South Korea are seeing an increased interest in clinical trials. High costs in western countries are also contributing to the flow of medical affairs outsourcing to the Asia Pacific region. To expand sales to the Asian market, pharmaceutical companies are becoming aware of new and changing regulatory environments for drugs, devices, and in-vitro diagnostics. New or improved regulations are implemented frequently in Asia, including changes in GMP standards, drug price controls, and medical device regulatory systems. Third-party guidance and advice are required as part of any acquisition or any improvement of current standards. Increasingly, third-party outsourcing service providers are playing a more significant role in supporting the associated market in the Asia Pacific. However, the market has stabilized compared to the initial phases of the pandemic owing to the control procedures, awareness among people, availability of vaccinations, and supportive government policies of the business in the related market.
Market Overview and Dynamics
The inspection machine market in Asia Pacific is expected to grow US$ 185.36 million in 2021 to US$ 278.82 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028. Healthcare compliance a crucial and rapidly expanding field as it is one of the highly regulated verticals. Various regulatory agencies focus on resolving public health concerns while introducing and implementing various public health and welfare programs. Many such entities work in coordination to preserve and regulate public health at all levels. Private organizations along with federal, state, and local governments contribute to the development and implementation of healthcare regulations. Medical Devices Agency (Japan) monitor manufacturers' compliance with current Good Manufacturing Practices (cGMP), as one of the important steps in the quality assurance of drugs and medical devices. The CGMP recommends minimal criteria for procedures, facilities, and controls necessary in the manufacturing, processing, and packing of pharmaceutical and medical products. Moreover, such restrictions also ensure that the respective products contain the specified ingredients and exhibit the promised strength. The regulatory monitoring processes for medical innovations are being revamped in various countries. China published 36 "Opinions on Deepening the Reform of the Evaluation and Approval System and Encouraging the Innovation of Drugs and Medical Devices" in late 2017. Thus, continuous developments in regulatory standards for ensuring compliance in the healthcare sector is driving the inspection machine market growth.
Key Market Segments
In terms of product the vision inspection systems segment accounted for the largest share of the Asia Pacific inspection machine market in 2021. In terms of type the automatic segment accounted for the largest share of the Asia Pacific inspection machine market in 2021. In terms of packaging the ampoules segment accounted for the largest share of the Asia Pacific inspection machine market in 2021. In term of end user, pharmaceutical & biotechnology companies segment held a larger market share of the inspection machine market in 2021.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the inspection machine market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 among others.
Reasons to buy report
Asia Pacific Inspection Machine Market Segmentation
Asia Pacific Inspection Machine Market – By Product
Asia Pacific Inspection Machine Market – By Type
Asia Pacific Inspection Machine Market – By Packaging
Asia Pacific Inspection Machine Market – By End User
Asia Pacific Inspection Machine Market – By Country
Asia Pacific Inspection Machine Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 185.36 Million |
| Market Size by 2028 | US$ 278.82 Million |
| CAGR (2021 - 2028) | 6.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Inspection Machine Market is valued at US$ 185.36 Million in 2021, it is projected to reach US$ 278.82 Million by 2028.
As per our report Asia Pacific Inspection Machine Market, the market size is valued at US$ 185.36 Million in 2021, projecting it to reach US$ 278.82 Million by 2028. This translates to a CAGR of approximately 6.0% during the forecast period.
The Asia Pacific Inspection Machine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Inspection Machine Market report:
The Asia Pacific Inspection Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Inspection Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Inspection Machine Market value chain can benefit from the information contained in a comprehensive market report.
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