Medical Equipment Cooling Market Size is anticipated to gain remarkable traction between 2022 and 2028. This is due to the growing reliance of medical technology manufacturers on intelligent cooling systems for laboratories and analysis, diagnostic imaging, and medical storage, among other applications. In addition, the increasing requirement of chillers for cooling medical components, such as CT scanners and MRI machines, to reduce thermal stresses will also boost the market growth in the upcoming years. Medical equipment chillers refer to machines designed for the cooling applications of highly sensitive medical equipment including Cyclotron. These applications require customized equipment with precise pressure, temperature, and flow control of cooling fluids.
Rising cases of chronic diseases like cancer worldwide are a major factor powering medical equipment cooling market trends through 2022-2028. As per the WHO’s data, breast cancer accounted for 2.26 million new cancer cases in 2020, which could drive the adoption of medical cooling machines for equipment used in medical imaging and other cancer diagnosis procedures. Furthermore, the deployment of innovative technologies such as AI in diagnostic imaging to capture better scans will also push the demand for medical cooling systems to reduce heat generated by equipment during the diagnostic procedures.
Medical equipment cooling market from the medical devices application segment will register a high revenue by 2028. Growth from the segment can be credited to the high risks among patients with cardiovascular diseases and neurological disorders worldwide. According to the American College of Cardiology, hypertensive heart diseases accounted for 1.16 million deaths in 2019. These aforesaid factors could spur segmental expansion, given the significant usage of positron emission tomography scanners and other imaging systems to help identify heart diseases as well as a variety of other health conditions like brain disorders.
From a regional perspective, the Asia Pacific medical equipment cooling market is poised to depict a strong growth rate through 2028, driven by the high incidence of chronic diseases among the burgeoning elderly population. As per the Report on Longitudinal Ageing Study of India Wave-1 issued by the Union Health Ministry, nearly 75% of older people in India are diagnosed with chronic diseases. Such a factor, alongside the high emphasis of the governments to boost public health spending, will also augment the deployment of medical cooling devices across healthcare settings in the years ahead.
Some of the prominent players in the medical equipment cooling market are Whaley Products, Inc., Parker-Hannifin Corp., Motivair, Lytron (Aavid Thermalloy, LLC), Legacy Chiller Systems, Laird Thermal Systems, KKT Chillers, Johnson Thermal Systems, General Air Products, Haskris, Dimplex Thermal Solutions, Drake Refrigeration, Filtrine Manufacturing Company, American Chiller Service, and Cold Shot Chillers, among others. These companies are implementing strategies such as new product launches, mergers, and acquisitions to strengthen their presence across the competitive market.
The ongoing coronavirus pandemic has drastically impacted cancer care across the globe, owing to the decline in access to preventive care, including cancer screening. Situations such as these may have hindered the medical equipment cooling industry dynamics, especially in the use of medical lasers and other devices that require cooling to treat cancer. Despite these disruptions across the oncology sector, the mounting deployment of medical imaging techniques amid the pandemic may aid industry recovery over the forthcoming years. The use of lung CT scans, for example, can help screen and monitor diagnosed cases of COVID-19 effectively, thus stimulating the need for cooling machines for CT scanners and other imaging devices.
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