Credit: Shutterstock photoParker-Hannifin Corporation'sPH business unit Parker Precision Fluidics, which specializes in miniature, low power, light weight and fluidic products, recently launched its latest highly advanced valve that will aid a large number of specialized medical applications. A miniature high flow proportional valve, VSO MAX HP, will consume 25% less power compared to its peers.
This product was introduced close on the heels of the launch of VSO LowPro , reflecting the company's strategy to bolster its competitive position in the fluidic products market. While VSO LowPro was engineered to meet client's need for small portable devices where installation space is limited, VSO MAX HP has been designed for medical applications in which pressure and volume control issues are paramount.
Suited for a host of medical applications including ventilators, insufflators and anesthesia delivery machines, the VSO MAX HP valve can offer flows as high as 200 SLPM at 45 psi using power as low as 2 watts. Capable of achieving an operating pressure of up to 120 psi (8.27 bar), the latest valve from VSO proportional family renders the need for an inlet regulator unnecessary. VSO MAX HP's other diligent features include repeatable flow performance, ability to comply with REACH and RoHS regulations and oxygen service use that will likely enhance the product's overall performance.
Meanwhile, market reports suggest that the global micro fluidic devices market has solid prospects, driven by the constant mutation of the medical applications market, and is forecasted to have a compounded annual growth of 25.7% from 2015-2020. Complex chemical and biological analyses in contemporary medical tests are fuelling growth of these devices, which is expected to result in increased market traction of VSO MAX HP.
As a matter of fact, Parker-Hannifin has been introducing new products and services to gain a higher market share. This in turn is rooted in its core business method - "Win Strategy" - which focuses to maximize growth by pursuing three strategies like engaging with people, improving premier customer experience and achieving robust profitable growth and financial performance. In fact, the company believes that these goals can help deliver a compound annual growth rate in earnings per share of 8% over the next five years.
Parker-Hannifin currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Sun Hydraulics Corp. SNHY , Graco Inc. GGG and Nordson Corp. NDSN . While Sun Hydraulics sports a Zacks Rank #1 (Strong Buy), Graco and Nordson carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
