Medical Equipment Cooling Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3679
Medical Equipment Cooling Market size is expected to grow significantly from 2019 to 2025.
Medical equipment cooling industry is projected to grow with a robust CAGR during the forecast timeline. The industry growth is attributable to technological advances that is evolving over the years and it includes digital data management. Moreover, the cooling solutions are developed close to heat transfer multi-phase technologies that further propels medical equipment cooling market growth. As these equipment provide efficient cooling, reliability coupled with safe cooling for imaging systems it encourages the customer preference of medical equipment cooling, thus favors business growth.
Furthermore, there are various advantages associated with medical equipment cooling that drives industry growth. Increasing prevalence of cancer and growing elderly population will render a positive impact on medical equipment cooling industry. Also, surging number of hospitals and diagnostic settings well-equipped with advanced systems is expected to boost business growth. Numerous initiatives undertaken by government for cancer cases and setting up diagnostic centers should upsurge the revenue size over the coming years. However, corrosion risk associated with medical equipment cooling may hamper industry growth.
Liquid-based cooling segment is expected to witness momentous growth during the forecast timeframe. The growth is attributable to benefits offered by liquid-based cooling such as energy efficient, undeviating cooling competences that avoids harm to subtle equipment and consistency.
Scroll compressors segment is anticipated to grow significantly over the coming years on an account of factors such as low hazard of refrigerant outflow related with the usage of screw compressors coupled with reduced vibration points.
Packaged systems of configuration segment accounted for substantial revenue share in 2018 and is estimated to grow with a robust CAGR during the forecast timeline. The growth is mainly attributable to packaged systems associated advantage that is components are assembled at workshop thus, eliminates the necessity to mount these systems.
Original equipment manufacturers segment held considerable revenue share in 2018 and is projected to grow significantly during the analysis period owing growing demand for diagnostic systems, lasers. Moreover, customizations provided by manufacturers for cooling solutions should render positive impact on segmental growth.
Europe medical equipment cooling industry will grow significantly during the forecast timeframe due to increasing healthcare expenditure, growing elderly population coupled with surging demand for early disease diagnosis. Rising adoption of advanced systems is expected to boost regional growth.
Few of the major business players operational in medical equipment cooling industry includes Cold Shot Chillers, American Chillers, Filtrine Manufacturing Company, Drake Refrigeration, Dimplex Thermal Solutions, Haskris,General Air Products, Johnson Thermal Systems, KKT Chillers, Laird Thermal Systems, Legacy Chiller Systems, Lytron, and Motivair. Prominent industry players adopt various strategies in order to capture more market share and sustain the competition. These companies emphasize on strategic initiatives such as collaboration, product enhancement, acquisitions, and merger. In April 2018, Laird Thermal Systems expanded its product offering of thermoelectric assembly (TEA). This strategy aimed at efficient cooling and heating of medical and analytical instrumentation.
Medical Equipment Cooling Market By Type, 2014-2025 (USD Million)
- Liquid-based Cooling
- Air-based Cooling
Medical Equipment Cooling Market By Compressor, 2014-2025 (USD Million)
- Screw Compressors
- Scroll Compressors
- Reciprocating Compressors
- Centrifugal Compressors
Medical Equipment Cooling Market By Configuration, 2014-2025 (USD Million)
- Modular Systems
- Packaged Systems
- Split Systems
Medical Equipment Cooling Market By Application, 2014-2025 (USD Million)
- Medical Devices
- Medical Imaging Systems
- Computed Tomography Scanners
- Magnetic Resonance Imaging Systems
- Positron Emission Tomography Scanners
- Medical Lasers
- Linear Accelerators
- Medical Imaging Systems
- Analytical & Laboratory Equipment
Medical Equipment Cooling Market By End-use, 2014-2025 (USD Million)
- Original Equipment Manufacturers (OEMs)
- Outpatient Clinics
- Diagnostic & Treatment Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- American Chillers
- Cold Shot Chillers
- Dimplex Thermal Solutions
- Drake Refrigeration, Inc.
- Filtrine Manufacturing Company
- General Air Products, Inc.
- Johnson Thermal Systems
- KKT Chillers
- Laird Thermal Systems
- Legacy Chiller Systems, Inc.
- Motivair Corporation
- Parker Hannifin Corp
- Whaley Products, Incorporated
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