Surge in Demand from Biopharmaceutical Sector to Bolster Market Growth
The healthcare sector around the world has progressed at a rapid pace over the past couple of decades, owing to brisk advancements in technology, increasing focus on research and development, and overall improvement in the manufacturing infrastructure of medical devices. The biopharmaceutical sector primarily relies on hygienic diaphragm valves for various process applications that typically require high levels of hygiene due to which, the global demand for hygienic diaphragm valves in biopharma market is on the rise. Although the basic design of hygienic diaphragm valves in biopharma market has remained untouched in the past three to four decades, market players involved in the current market landscape are expected to innovate, explore the possibility of using new materials, and invest resources to gain an edge in the product development phase.
As more number of facilities around the world are increasingly focusing on minimizing downtime with preventive maintenance, the demand for hygienic diaphragm valves in biopharma market is on the rise. The growing emphasis on curating maintenance programs to improve productivity and early detection of diaphragm failure is another factor that is likely to augment the demand for hygienic diaphragm valves in biopharma market. At the back of these factors, along with stringent international regulations pertaining to hazardous fluid leakages, entry of Industry 4.0, and increasing collaboration with biopharma industry players, the hygienic diaphragm valves in biopharma market is expected to surpass the value of US$ 415 Mn by the end of 2030.
Want to know the obstructions to your company’s growth in future? Request a brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=80158
Market Players Focus on Optimizing Diaphragm Valves to Enhance Bioprocess Reliability
In the current market landscape, the pharmaceutical sector is under immense pressure to optimize production, minimize maintenance costs, and control the manufacturing process. The increasing adoption of hygienic diaphragm valves in biopharma market for bioprocessing and applications that require high level of sterility are some of the key factors that are likely to augment the demand for hygienic diaphragm valves in biopharma market during the assessment period. In addition, the adoption of diaphragm valves in stainless steel systems is a trend that is expected to continue during the forecast period. Moreover, as hygienic diaphragm valves have emerged as the cleanest and one of the most drainable valve solutions for a number of applications in the pharmaceutical sector, the demand continues to grow at a steady pace. Companies involved in the current hygienic diaphragm valves in biopharma market landscape are increasingly focusing on the production of hygienic diaphragm valves that are resistant to a range of chemicals, temperatures, pressures, and compounds.
In the current scenario, players operating in the current market landscape are expected to leverage the benefits of new technologies, ensure a smooth production line with minimum downtime, and focus on the maintenance of hygienic diaphragm to gain a competitive edge.
Market Players Focus on Launch of New Products and Technologies
The players involved in the current hygienic diaphragm valves in biopharma market are increasingly focusing on leveraging new research findings and technologies to introduce innovative products. In May 2020, ITT Engineered Valve announced the launch of an integrated sensing platform (ISP) that primarily monitors the position of the hygienic diaphragm. With the launch of the new ISP, the company is on course to merge its valve expertise with network communication and position sensing technology. Similarly, in February 2020, Burkert announced the launch of a valve positioner that complies with the Industry 4.0 requirements. While leaning toward innovative technologies is likely to remain the next step for several top tier market players, along with it expanding the product portfolio is expected to gain momentum. For instance, in November 2019, Holland Applied Technologies announced the launch of the BioviZion diaphragm valve.
Looking for exclusive market insights from business experts? Request a Custom Report
Economic Slowdown Caused by COVID-19 Pandemic Could Hinder Market Growth
The outbreak of the COVID-19 pandemic is anticipated to hinder the growth of the global hygienic diaphragm valves in biopharma market in 2020, as governments of several countries announced stringent lockdowns and closure of non-essential industries. A considerable decline in the production volume of raw materials coupled with supply chain challenges due to restrictions on cross-border trade and transportation has slowed down the growth of the hygienic diaphragm valves in biopharma market in 2020.