Medical Equipment Cooling Market - By Product, By Compressor, By Configuration, By Application, By End Use - Global Forecast, 2024 to 2032

Medical Equipment Cooling Market Size

The global medical equipment cooling market size was valued at around USD 445.9 million in 2023 and is estimated to grow at 3.8% CAGR from 2024 to 2032. The set of operations and technologies applied to medical devices and equipment to control temperatures are termed ‘medical equipment cooling’ and are focused towards enhancing performance and lifespan. Effective cooling of medical imaging machines, laboratory devices, and all other electronic gadgets is vital owing to the amount of heat produced during operation.
 

The economic growth in this market is supported by the increasing prevalence of some chronic diseases alongside a growing geriatric population that results into high demand for such devices. For instance, NHS England recorded an increase of 2.2% and reported that the total number of tests done increased to 45 million in March 2023. Among others, conventional radiography is performed most (22 million), followed by diagnostic ultrasound (10.3 million), CT (7.1 million), and MRI (4.1 million), which is why this field is liquid.

The amount of heat emitted by imaging devices such as CT and MRI during procedures raises attention toward effective cooling solutions that will preserve equipment quality and effective lifespan. Therefore, an increase in patient numbers and number of tests performed automatically raises the need for sophisticated advanced imaging devices and consequently influences positively the magnitude of cooling system usage.
 

Moreover, the continued investment in research and development is providing more effective, accurate, and eco-friendly cooling technologies which, in turn, contributes to market growth. These factors support the long-term growth of the medical equipment cooling market.
 

Medical Equipment Cooling Market Trends

• The growth of the market is due to the rapid development of new technologies. Development of new products like micro cooling systems, thermoelectric coolers, and modern heat exchangers are changing the landscape of the industry. For instance, thermoelectric coolers integration in MRI systems are capable of maintaining the requisite temperature for efficient energy use, which greatly improves the diagnostic effectiveness of the system.
   

• In addition, global initiatives to cut carbon emissions are quickly being adopted in the medical equipment industry with these new environmentally friendly cooling measures. They are truly investing in R&D to build systems that can perform at peak while conserving the most energy possible. For instance, the improvements in liquid cooling methods are particularly impressive because they not only improve the efficiency of the equipment but also increase efforts to decrease greenhouse gas emissions.
   

• Thus, as equipment for the medical industry is expected to shift, the incorporation of advanced smart cooling solutions should do the trick. IoT-enabled cooling systems with sensors and data analytics ensure equipment is operational all the time with real-time monitoring and predictive maintenance. This way, healthcare facilities can use data insights to improve cooling processes, save costs, and prolong the lifetime of the equipment.
   

Medical Equipment Cooling Market Analysis

Based on product type, the market is bifurcated into liquid-based cooling and air-based cooling. The liquid-based cooling segment dominated the market with the largest revenue of USD 244.1 million in 2023.
 

• The protection of sensitive equipment whereby improved energy efficiency and constant cooling are achieved makes liquid-based cooling systems the favorable choice. Through thermal management utilizing a circulating coolant or chilled fluids, heat can be efficiently removed from medical equipment. Chilled fluids or circulating coolants are utilized in these systems to offer dependable and favorable cooling which is essential for optimum functionality of sophisticated medical apparatuses.
   
• For instance, WL1500 liquid to air heat exchanger manufactured by Laird Thermal Systems has a chilling capacity of 1500 W, works with a coolant flow rate of 6.0 L/min at a pressure of 6.4 Bar, and is compatible with many other liquid types of coolant. The WL1500 is compact and robust, suitable for a variety of applications with a thermal conductance range of 103.3 to 125.3 W/°C and at the specific flow rate, the thermometer shows a difference of 3.6 to 4.1 degrees celsius.
   
• In addition, in comparison to air-cooled types, liquid cooling is relatively silent, which may be an advantage in the medical sector where patient noise level has to be considered. Also, the trustworthiness and accuracy of the cooled equipment makes liquid systems preferred in the medical market cooling equipment.

Based on compressor, the medical equipment cooling market is segmented into reciprocating compressors, scroll compressors, screw compressors, and centrifugal compressors. The scroll compressors segment dominated the market with the largest revenue share of 32.8% in 2023.
 

• The design of scroll compressors makes them better as high energy efficiency is attained by minimizing the number of moving parts, which in turn enhances performance. This is highly needed for sensitive medical devices such as imaging and laser equipment where temperature control is critical.
   
• Moreover, their near-silent functioning is an asset in medical settings, where noise should be minimized to promote productivity of both users and patients alike, which makes them appropriate for hospitals and clinics.
   
• For instance, a Daikin Industries air-cooled scroll compressor chiller, is a low GWP R32 refrigerant chiller. This chiller saves 33% of its footprint and 10% of its weight, while 95% of the time the unit is able to operate efficiently and provide 10% more capacity and efficiency than what is standard.
   
• Hence, the factors above are envisioned to greatly accelerate the growth of the segment business during the projected years.
   

The medical equipment cooling market is segmented into packaged systems, modular systems, and split systems based on configuration. The packaged systems segment is projected to reach USD 314.2 million by 2032.
 

• Packaged cooling systems are small and self-contained systems that integrate all the basic components alongside the controls, which makes installation and maintenance easier. In medical places where space is a constraint, they are preferred because they are less expensive than tailor-made systems.
   
• Moreover, easy installation and bulk manufacturing decrease prices while increasing packaged cooling systems' appeal, making it a go-to for medical facilities. This appeal boosts the market share and indicates the potential for robust growth in the future.
   

The medical equipment cooling market is segmented by application into medical devices, cold storage and testing, dehumidification, and analytical and laboratory equipment. In 2023, the medical devices segment was valued at USD 155.8 million.
 

• The use of diagnostic imaging and therapeutic devices has significantly risen with malignant tumors, cardiovascular disease, and even neurological diseases becoming more frequent on a global scale. For these types of devices, effective and continuous cooling is crucial to maintain performance, which in turn increases the need for medical equipment cooling systems.
   
• For instance, the Word Health Organization’s data shows that heart and other cardiovascular diseases account for 17.9 million deaths annually, resulting in CVD being the leading cause of death globally. Over 80% of these deaths occur through heart attacks and strokes, and most of the patients are less than 70 years old.
   
• In addition, to overcome this significant global health issue, political action and business approaches by medical device manufacturers toward providing innovative equipment has become advanced and well-integrated, specifically with echocardiography, nuclear, cardiac blood flow SPECT, MRI, and CT application in cardiovascular medicine settings.
   

The medical equipment cooling market is segmented by end use into original equipment manufacturers (OEMs), hospitals, diagnostic laboratories, and other end-users. In 2023, the original equipment manufacturers (OEMs) segment was valued at USD 218.2 million.
 

• The massive productivity by original equipment manufacturers (OEMs) and their business associates has shifted from just producing medical equipment to business-driven product development. In the process, the manufacturers have become more responsive to the demand in the market.
   
• In well-developed regions, this means providing technologies that are more efficient and reliable in cooling sensitive medical devices such as CT14 and MRI. The advanced cooling systems integrated into these devices enable medical practitioners to get accurate diagnoses. Therefore, many OEMs fall into the global market category.
   
• Also, in the new markets, there is rapid growth of the healthcare system due to increased expenditure on health and government efforts to improve healthcare services. Because of new hospitals, clinics, and diagnostic centers opening, there is also a higher demand for advanced medical devices with better cooling systems.
   
• Thus, the scenario provides a good opportunity for OEMs to increase their share in the market and meet the increased need for quality medical equipment.

The North America medical equipment cooling market was valued at USD 154.4 million in 2023 and is expected to grow at a CAGR of 3.5% over the forecast period.
 

• As medical imaging services are increasingly sought after increasing the incidence of chronic diseases in cancer, cardiovascular, and other neurological problems in North America, there is also a strong relationship with advanced cooling technology to maintain the accuracy and dependability of the machines.
   
• For instance, data from the National Institute of Health (NIH) suggests that in the USA, 795,000 strokes are reported every year, with 137,000 deaths caused by it. Of these cases, 610,000 are first strokes, with 185,000 making it out alive but having chances of restroke within the next 5 years, which is concerning news for them. Ischemic stroke, which almost always accounts for 87% of all cases, is mostly suffered while the rest are 13% hemorrhagic strokes.
   
• Thus, the market is expected to rise in the forecast period owing to the increasing diseases in the region.
   

The medical equipment cooling market in the UK is expected to experience significant growth from 2024 to 2032.
 

• The UK's government alongside the private sector are investing more in healthcare infrastructure and technology. This healthcare spending growth also facilitates the purchase of modern medical devices which, in turn, increases the need for cooling systems that maintain the effectiveness and efficiency of the medical equipment.
   
• Moreover, in the UK, healthcare system regulators such as the Medicines and Healthcare Products Regulatory Agency (MHRA) have great control in the way medical devices are used and their operations. The nature of these requirements dictates that devices have cooling systems incorporated to help them work at safe temperature ranges within which the equipment should function, which also increases the need for these systems.
   
• For that reason, the growing concern and government initiatives are likely to drive market growth in the forecast period.
   

The Japan medical equipment cooling market is anticipated to witness substantial growth between 2024 – 2032.
 

• Japan's healthcare sector increasingly emphasizes energy efficiency and sustainability. Medical institutions are using energy-efficient cooling systems to lower expenses and comply with laws concerning the environment. This has resulted in the creation of new types of cooling equipment that operate at lower temperatures while using less energy than traditional ones.
   
• Additionally, the ongoing development and improvement of hospitals, clinics, and diagnostic centers in Japan is increasing the need for medical equipment cooling solutions. With the construction of new facilities and the renovation of old ones, the need for novel cooling systems has increased to support advanced technologies and ensure efficient operations.
   
• Therefore, the following factors are expected to bolster market growth in the region over the forecast period.
   

The medical equipment cooling market in Saudi Arabia is expected to experience significant growth from 2024 to 2032.
 

• As part of the Vision 2030 program, Saudi Arabia is making notable investments toward enhancing their healthcare system. This expansion includes building new hospitals, clinics, and diagnostic centers, all of which require sophisticated medical devices. To protect sensitive medical devices, these facilities will need powerful cooling systems.
   
• Moreover, the increasing population combined with the high prevalence of chronic diseases in Saudi Arabia is increasing the need for diagnostic imaging. This trend increases the demand for scientific and advanced imaging equipment which, in turn, requires sophisticated cooling systems to ensure equipment performance and reliability. The medical equipment cooling systems market is also expected to grow as healthcare facilities expand their diagnostic capabilities.
   
• Thus, because of these factors as stated above, it is predicted that market growth in this region will increase during the upcoming years.
   

Medical Equipment Cooling Market Share

This industry is characterized by competitive rivalry with both large conglomerates and small to medium firms participating in the market. A vital element of market strategy is staying ahead by continuously launching new products built with new technologies. The aforementioned factors apply above as well, where large firms have strong power in this fluid environment, and they tend to push innovations by investing heavily in research and development. Moreover, joint ventures, purchase of companies, and incorporation all tend to strengthen a company's market position and increase coverage in various parts of the world with different political environments.
 

Medical Equipment Cooling Market Companies

Some of the eminent market participants operating in the medical equipment cooling industry include:

• American Chillers
• Atlas Copco
• Copeland
• Daikin Industries
• Drake Refrigeration
• Ecochillers
• ELGi Equipments Limited
• Filtrine
• General Air Products
• Glen Dimplex Group
• Haskris
• Ingersoll Rand
• Johnson Thermal Systems
• KKT chillers
• Laird Thermal Systems
• Legacy Chillers
• Lytron Chillers
• Motivair Corporation
• Thermal Care
   

USPs for Top Players:

• Daikin Industries offers innovative and energy-efficient cooling technologies specific for medical equipment applications.
   
• Lytron is known for providing bespoke cooling solutions for specialized imaging and diagnostic devices.
   
• American Chillers develops and builds powerful and rugged cooling systems specific to a healthcare facility’s requirements.
   

Medical Equipment Cooling Market Industry News

• In May 2024, Enhanced Innovations announced the launch of a portable, battery-powered cooling device designed for the transportation and storage of medical supplies, including vaccines and diagnostic samples. The device was capable of being powered by solar energy as well as by connecting to automobile chargers, thereby eliminating its reliance on conventional grid energy. This feature made it particularly useful for deployment in remote areas.
   
• In October 2024, Smart Joules, a leading energy company in India, signed a cooling-as-a-service contract with KIMS Hospitals in Kondapur, Hyderabad. This innovative model, previously implemented in projects such as KIMS Soul Space Hospital, emphasized convenience, quality, and cost-effectiveness while reducing environmental impact. Under the JouleCOOL model, Smart Joules provided comprehensive cooling services for 12 years, covering project design, execution, operations, maintenance, and energy performance assurance. This integrated solution ensured KIMS Hospitals received tailored cooling systems and services, significantly lowering costs.
   

The medical equipment cooling market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product Type

• Liquid-based cooling
• Air-based cooling

Market, By Compressor

• Reciprocating compressors
• Scroll compressors
• Screw compressors
• Centrifugal compressors

Market, By Configuration

• Packaged systems
• Modular systems
• Split systems

Market, By Application

• Medical devices
  • Medical imaging systems
    • Magnetic resonance imaging systems (MRI)
    • Computed tomography scanners (CT)
    • Positron emission tomograph systems (PET)
  • Medical lasers
  • Linear accelerators 
• Cold storage and testing
• Dehumidification
• Analytical and laboratory equipment

Market, By End Use

• Original equipment manufacturers (OEMs)
• Hospitals
• Diagnostic laboratories
• Other end users

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy 
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America 
  • Brazil
  • Mexico
  • Argentina 
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE