A solenoid valve is an electromechanically controlled valve, which control the rate of flow of fluid in systems. These devices convert electrical energy to mechanical energy, using a magnetic reaction, which occurs when an electric current passes through the wire in the solenoid.
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Usage of solenoid valves in the medical devices industry is increasing at a significant pace. Use of solenoid valves in the medical devices industry provides benefits such as efficiency, effective temperature control, improve product lifespan, and miniaturize components.
The global solenoid valves market in medical device industry is primarily driven by the increase in demand for reliable and cost-effective miniature valves with low leak rates. Furthermore, technological advancements and the trend of miniaturization of components are likely to drive the global market in the next few years. However, technical failures of solenoid valves such as presence of dirt particles, inaccurate flow and pressure, burning of coil, damaged seals, and product recalls are likely to hamper the global market during the forecast period. Increasing investment in R&D by major players and strategic alliances by leading companies are expected to create lucrative opportunities in the global market.
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In terms of valve type, the global solenoid valves market in medical device industry can be segmented into two-way, three-way, four-way, and others. The three-way segment held a dominant share of the global market in 2017, followed by the two-way segment. Based on material type, the global market can be categorized into plastic, stainless steel, and others. The stainless steel segment constituted a major share of the market in 2017 due to higher demand of stainless steel for manufacturing solenoid valves.
In terms of application, the global solenoid valves market in medical devices industry can be classified into anesthesia machines, respiratory devices, dialysis machines, drug delivery machines, pressure relieving devices, intensive care unit devices, dental chairs, and others (including massage equipment and hair removal devices). Based on end-user, the global solenoid valves market in medical device industry can be divided into medical device manufacturers, contract research organizations, and others.
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In terms of region, the global solenoid valves market in medical device industry can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe held large share of the global market in 2017 owing to strong research & development infrastructure, well-established health care system, presence of major players, and technological advancements in these regions. China and Japan held large share of the solenoid valves market in medical device industry in Asia Pacific in 2017.
The market in India is estimated to expand at a significant CAGR during the forecast period owing to the presence of well-established domestic players. An underdeveloped health care industry and lower technological progress are likely to hamper the market in Latin America and Middle East & Africa during the forecast period.
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Key manufacturers operating in the global solenoid valves market in medical device industry include Peter Paul Electronics Co., Inc., Parker Hannifin Corp, ASCO Valve, Inc., Fim Valvole s.r.l., Emerson, LISK IRELAND LIMITED, Kendrion, Humphrey Products Corporation, Bürkert Fluid Control Systems, and NSF Controls Ltd.
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