Market Introduction
South America region for the estimating the market for the inspection machine consist of countries such as Brazil, Argentina, and rest of SAM. Brazil is the fifth largest country in the world both by area and by population and experiencing the fastest demographic aging worldwide. In Brazil, the aging population is at a rapid pace and in a context of regional and historical socioeconomic inequalities. According to the study conducted in Brazil, the community of women estimated at the vast majority with 16.9 million (56%) of elderly persons, whereas older adults estimated approx. 13.3 million (44%). The growing aging population leads to several chronic conditions such as cancer, orthopedic conditions, neurodegenerative disorders, and diabetes amongst others. Such growing conditions are likely to drive the adoption of medical devices, which will eventually drive the Brazil inspection machine market during the forecast period.
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.
Market Overview and Dynamics
The inspection machine market in South America is expected to grow US$ 74.46 million in 2021 to US$ 99.15 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. Manufacturers, along with local governments, are increasingly seeking new approaches to address the challenge of a continuously surging drug and vaccine demands. To fill the demand–supply gap, many biopharmaceutical companies, research institutes, contract research organizations (CROs), and contract development and manufacturing company (CDMOs) are automating their laboratory processes for attaining high precision and low turnaround time. Automated inspection machines can help enterprises enhance overall product quality while lowering manufacturing costs, thus providing them an edge over their competitors. Many organizations are employing automated inspection systems in their facilities as machine vision inspection cameras and laser gauging sensors have become more cost-effective. By practically eliminating human errors, an automated inspection equipment increases product quality. Companies that use automated inspection systems usually showcase them during customer visits to indicate their processes are technologically updated. Automated inspection systems require one-time investments, and these high-speed machines can be used 24 ×7 with little to no extra expense. Companies can monitor the inspection information and instantaneously correct the corresponding processes causing discards, significantly lowering scrap and enhancing line efficiency. Automated inspection also helps companies cut the costs of containment and re-inspection that typically results from audit-only inspections, machine, or operator errors. Furthermore, the increasing product recalls in pharmaceuticals and medical device manufacturing industries, growth in number of inspection spot checks across the production line, and demand for high precision in inspection to manufacture products with zero error are propelling the growth of the inspection machine market.
Key Market Segments
In terms of product the vision inspection systems segment accounted for the largest share of the South America inspection machine market in 2021. In terms of type the automatic segment accounted for the largest share of the South America inspection machine market in 2021. In terms of packaging the ampoules segment accounted for the largest share of the South America 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 South America 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
South America Inspection Machine Market Segmentation
South America Inspection Machine Market – By Product
South America Inspection Machine Market – By Type
South America Inspection Machine Market – By Packaging
South America Inspection Machine Market – By End User
South America Inspection Machine Market – By Country
South America Inspection Machine Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 74.46 Million |
| Market Size by 2028 | US$ 99.15 Million |
| CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Inspection Machine Market is valued at US$ 74.46 Million in 2021, it is projected to reach US$ 99.15 Million by 2028.
As per our report South America Inspection Machine Market, the market size is valued at US$ 74.46 Million in 2021, projecting it to reach US$ 99.15 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The South America 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 South America Inspection Machine Market report:
The South America Inspection Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Inspection Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Inspection Machine Market value chain can benefit from the information contained in a comprehensive market report.
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