An object of the present invention is to provide an inspection apparatus and an inspection method for precisely detecting an amount of misalignment of a component mounted on a panel through an adhesive which contains conductive particles. An inspection apparatus according to an implementation of the present invention detects an amount of misalignment, from a predetermined mounting position, of a component mounted on a surface of a panel through an ACF. The inspection apparatus includes: an infrared light illuminator which illuminates with an infrared light a panel recognition mark and a component recognition mark, the panel recognition mark being formed on the surface of the panel, and the component recognition mark being formed on a surface of the component; an IR camera which is provided opposite the infrared light illuminator in relation to the panel, and captures an image of the panel recognition mark and an image of the component recognition mark which are illuminated with the infrared light; and an amount of misalignment calculation unit which calculates, using the images captured by the IR camera, an amount of misalignment in a positional relationship between the panel recognition mark and the component recognition mark from a predetermined positional relationship, and an optical axis of the infrared light illuminator is inclined with respect to a normal found on the surfaces of the panel or the component.