Overview

Medical Cooling Systems Market is estimated to value over CAGR of over 4% during the forecast period 2022 to 2028.

The medical cooling systems are used for condensing the heat lead that is produced by various medical devices like medical imaging systems, medical lasers and others. These cooling systems are used for enhancing equipment life cycle with the reduction of heat load. Furthermore, these systems are used by various clinics, diagnostic centres and hospitals. Some of the advantages of these systems are reduction in the surface temperature of the device, faster rate of thermal cycling and increased medical device lifespan.
Surging rise in the number of hospitals in emerging countries and rise in the utilization of these cooling devices for cooling down instruments like lasers, MRI, etc. But the risk of corrosion of these systems and these systems being expensive is expected to impede the medical cooling systems market growth. The increasing emphasis of the governments of emerging nations towards improving the healthcare infrastructure is anticipated to create growth opportunities for the market over the coming years. Additionally, the rising affordability of these devices in emerging nations has increased the penetration of these devices in countries like China and India.

Market Segmentation:

By Product
• Medical Cooling Equipment
• Standard Cooling Equipment
• Customized Cooling Equipment
• Medical Cooling System Accessories

By Type
• Water Cooled Chillers
• Air Cooled Chillers

By Model
• Packaged Systems
• Modular Systems
• Split Systems

By Compressor Type
• Scroll
• Screw
• Centrifugal
• Reciprocating

By Application
• Imaging Applications
o Magnetic Resonance Imaging (MRI)
o Computed tomography (CT) Scan
o Linear Accelerators
o Positron-Emission tomography (PET) Scan
o Other Imaging Applications
• Cold Storage and Testing
• Dehumidification
• Laser Application

By End User
• Original Equipment Manufacturers (OEMs)
• Hospitals and Clinics Diagnostic
• Diagnostic Imaging Centers

By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The market is classified into type, application and region. The type segment is fragmented into liquid-based cooling and air-based cooling. The liquid-based cooling is predicted to hold the largest medical cooling systems market share during the forecast period. The application segment is divided into medical imaging system, medical lasers, analytical and laboratory equipment and others. The medical imaging systems is predicted to lead the market owing to the rising adoption of these devices like CT scan, MRI, etc.

Regional Analysis:

The North America region is expected to dominate the global market owing to the ease of availability of these cooling systems, a strong presence of key market players and increased prevalence of appalling diseases like cancer in the region. The Asia Pacific region, however, is predicted to grow at a faster rate owing to rising popularity, increased efficiency of healthcare infrastructure and implementation of these devices in a wide range of applications like analytical and lab equipment, medical imaging systems, etc.

Competitive Landscape:

The key market players associated are Lytron Inc., Filtrine Manufacturing Company, Carrier Corporation, Ecochillers Inc., Parker Hannifin Corporation, Legacy Chiller Systems Inc., Motivair Corporation, Cold Shot Chillers, American Chiller Service Inc., General Air Products Inc., Drake Refrigeration Inc., KKT chillers Inc., Glen Dimplex Group, Johnson Thermal Systems Inc., Whaley Products Inc.

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key market trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global medical cooling systems market by product, by type, by model, by compressor type, by application, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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