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

Medical Equipment Cooling Market Size

The global medical equipment cooling market size was valued at USD 445.9 million in 2023 and is estimated to grow at 3.8% CAGR from 2024 to 2032. Medical equipment cooling refers to the processes and technologies used to manage the temperature of medical devices and equipment to ensure optimal performance and longevity. Proper cooling is critical in various medical contexts, including the operation of imaging machines, laboratory instruments, and other electronic devices that generate heat during use.

The market growth is primarily fueled by the growing prevalence of chronic diseases and an aging population base, leading to increased demand for diagnostic imaging tests. For instance, in March 2023, NHS England reported a 2.2% rise in imaging tests to 45 million. Common procedures such as plain radiography (22.0 million), diagnostic ultrasonography (10.3 million), CT scans (7.1 million), and MRI (4.1 million) contribute significantly.
 

The heat generated by imaging devices such as CT and MRI during the procedures underscores the need for effective cooling solutions to sustain equipment performance and durability. Therefore, as patient numbers and testing volumes surge, there is a heightened requirement for advanced imaging equipment, thus driving the necessity for cooling systems.
 

Moreover, ongoing investments in R&D are yielding more efficient, reliable, and environmentally friendly cooling technologies, further bolstering market expansion. These combined factors ensure a robust growth trajectory for the market in the foreseeable future.
 

Medical Equipment Cooling Market Trends

• The medical equipment cooling industry is propelled by rapid technological advancements. Innovations such as miniature cooling systems, thermoelectric cooling, and advanced heat exchangers are revolutionizing the industry. For instance, the adoption of thermoelectric coolers in MRI systems ensures precise temperature control, enhancing diagnostic accuracy while minimizing energy consumption.
   
• Further, energy-efficient and sustainable cooling solutions are gaining momentum in the medical equipment sector, aligning with global efforts to reduce carbon footprint. Manufacturers are investing in R&D to develop systems that minimize energy consumption while maximizing performance. For instance, advancements in liquid cooling technologies are particularly noteworthy, not only enhancing equipment efficiency but also aiding environmental conservation by lowering greenhouse gas emissions.
   
• The integration of smart cooling technologies is poised to transform the medical equipment cooling landscape. IoT-enabled cooling systems equipped with sensors and data analytics capabilities offer real-time monitoring and predictive maintenance, ensuring uninterrupted equipment operation. By leveraging data insights, healthcare facilities can optimize cooling processes, extend equipment lifespan, and reduce operational costs.
   

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.
 

• Liquid-based cooling systems are favored for their advantages, such as improved energy efficiency, consistent cooling, and protection of sensitive equipment. These systems utilize circulating coolants or chilled fluids to efficiently remove heat, ensuring optimal thermal management in medical equipment. They offer uniform and stable cooling, crucial for maintaining the reliability of advanced medical devices.
   
• For instance, the WL1500, a liquid-to-air heat exchanger by Laird Thermal Systems, features a cooling capacity of 1,500 W, operates at a nominal flow rate of 6.0 L/min at 6.4 Bar, and is compatible with various coolant types. With a thermal conductance of 103.3 to 125.3 W/°C and a temperature difference of 3.6°C to 4.1°C at the specified flow rate, the WL1500 is compact and durable, suitable for diverse applications.
   
• Moreover, liquid cooling tends to be quieter than air-based alternatives, which is beneficial in medical environments where minimizing noise is important for patient comfort and focus. Furthermore, the reliability and precision of liquid cooling systems also contribute to their preference in the market.
   

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, with fewer moving parts, minimizes energy loss and boosts performance, which is vital for precise temperature control in sensitive medical devices such as imaging and laser equipment.
   
• Moreover, their quiet operation is beneficial in medical environments, where reducing noise is important for the comfort of both patients and healthcare providers, making them perfect for use in hospitals and clinics.
   
• An example of such a compressor is Daikin Industries' air-cooled scroll compressor chiller, which uses low-GWP (Global Warming Potential) R32 refrigerant. This chiller reduces its footprint by 33% and its weight by 10%, operating efficiently 95% of the time and offering 10% greater capacity and efficiency.
   
• Therefore, the aforementioned factors are expected to significantly boost the growth of the segment over the forecast period.
   

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 compact, self-contained units that integrate essential components such as compressors, condensers, evaporators, and controls, which simplifies installation and maintenance. They are favored in medical facilities with limited space due to their lower upfront and operational costs compared to custom-built solutions.
   
• Standardized manufacturing reduces prices, and easy installation lowers labor costs. Altogether, these factors make packaged cooling systems a highly attractive option for medical facilities, stimulating their substantial market share and positioning them for significant future growth.
   
• Therefore, the aforementioned factors are expected to significantly boost the growth of the segment in the coming years.
   

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

• The rising incidence of chronic diseases such as cancer, cardiovascular ailments, and neurological disorders globally has spurred an increased demand for diagnostic imaging and therapeutic devices. These devices often necessitate continuous and effective cooling for optimal functioning, thus amplifying the requirement for medical equipment cooling systems.
   
• For instance, cardiovascular diseases (CVDs) are the leading cause of global mortality, accounting for approximately 17.9 million deaths annually, as reported by the World Health Organization (WHO). Heart attacks and strokes contribute to over 80% of these fatalities, with a significant portion occurring prematurely in individuals under 70 years old.
   
• In addressing this pervasive health challenge, various cardiac imaging modalities, including echocardiography, nuclear scintigraphy for myocardial perfusion imaging, MRI, and CT, have become indispensable tools in modern cardiovascular medicine.
   

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.
 

• OEMs constantly strive to innovate and enhance the performance of medical equipment. As technology evolves, it leads to a growing demand for more efficient and reliable cooling solutions to maintain optimal operating conditions for sensitive medical devices. OEMs invest in research and development to integrate advanced cooling systems into their products, thereby driving market growth.
   
• Further, in emerging markets, healthcare infrastructure is rapidly expanding due to rising healthcare expenditure and government initiatives aimed at enhancing healthcare accessibility. With the establishment of new hospitals, clinics, and diagnostic centers, there is a corresponding need for advanced medical equipment featuring efficient cooling systems. This creates favorable opportunities for OEMs to broaden their market presence and capitalize on the growing demand for high-quality medical devices.
   

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.
 

• The surge in chronic diseases such as cancer, cardiovascular issues, and neurological disorders across North America has led to a growing demand for diagnostic imaging services, necessitating advanced cooling systems to uphold equipment reliability and precision.
   
• Further, as per data from the National Institute of Health (NIH), around 795,000 individuals in the U.S. suffer strokes annually, resulting in 137,000 fatalities. Among these cases, 610,000 represent first-time strokes, while 185,000 survivors confront the risk of recurrence within five years. Ischemic strokes make up roughly 87% of all strokes, leaving hemorrhagic strokes to account for the remaining 13%.
   
• Diagnostic imaging is pivotal for accurate diagnosis, continual monitoring, and effective treatment of these ailments, mandating stable temperatures for optimal imaging quality.
   
• Therefore, the aforementioned factors are expected to boost market growth in the region over the coming years.
   

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

• The United Kingdom's government and private sector are expanding investments in healthcare infrastructure and technology. This increase in healthcare expenditure supports the acquisition of advanced medical equipment, consequently driving the demand for cooling systems that ensure the reliability and efficiency of these devices.
   
• UK healthcare regulatory bodies, including the Medicines and Healthcare products Regulatory Agency (MHRA), enforce stringent guidelines for medical device operation and maintenance. Compliance with these regulations often necessitates effective cooling solutions to ensure equipment operates within safe temperature ranges, further stimulating demand for these systems.
   
• Hence, the increasing awareness and government programs are expected to significantly boost the market growth in the region over the coming years.
   

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

• Japan's healthcare sector is increasingly prioritizing energy efficiency and sustainability. Medical facilities are adopting energy-efficient cooling solutions to reduce operational costs and adhere to environmental regulations. This trend has spurred the development of innovative cooling systems that minimize energy consumption while maintaining optimal temperatures for medical devices.
   
• Additionally, the continuous expansion and upgrading of Japan's healthcare infrastructure, including hospitals, clinics, and diagnostic centers, is driving demand for medical equipment cooling solutions. As new facilities are constructed and existing ones renovated, there is a growing need for modern cooling systems to support advanced technologies and ensure optimal operational efficiency.
   
• 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.
 

• Saudi Arabia is significantly investing in expanding and upgrading its healthcare infrastructure as part of its Vision 2030 initiative. This expansion encompasses the construction of new hospitals, clinics, and diagnostic centers, all requiring advanced medical equipment. These facilities need robust cooling systems to maintain optimal operating conditions for sensitive medical devices.
   
• The growing population and increasing prevalence of chronic diseases in Saudi Arabia are fueling demand for diagnostic imaging services. This trend drives the need for advanced imaging equipment and, consequently, sophisticated cooling systems to ensure equipment performance and reliability. As healthcare facilities expand their diagnostic capabilities, the market for medical equipment cooling systems is expected to grow in tandem.
   
• Therefore, the aforementioned factors are expected to boost market growth in the region over the coming years.
   

Medical Equipment Cooling Market Share

The medical equipment cooling industry is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A key aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprints amidst evolving regulatory landscapes.
 

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
   

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 like 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 & 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 & 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