Overview

Medical equipment cooling market is estimated to value at a CAGR of over 4% from the forecast period 2022-2028.

Factors driving the growth of the market are the economic benefits offered by cooling systems, rising incidence of cancer, and rising geriatric population. Increase in diagnostic centers, hospitals, and ambulatory units is expanding the market. Technological advancements in diagnostic imaging coupled with fiscal benefit offers by medical equipment cooling are spurring the market. Favorable government programs along with technological advancements in medical chillers are positively influencing the market.
The market is bifurcated into by type, by compressor, by configuration, by application, by end-user and region. Based on the configuration, packaged systems are expected to hold a vast share of the market. Packaged systems offer assembled components at the factory thus eliminating the need to need to install the system manually. It also reduces time by removing the need to design, owing to these factors there has been a huge demand for packaged systems.
In terms of type, liquid-based cooling holds a vast share of the market. The liquid-based cooling system when compared to air-based cooling, offers better lifespan. It also offers reduced noise. Owing to these factors, there has been a spike in the demand of liquid-based cooling, thus burgeoning the market.
Based on compressor, scrolls are expected to showcase the highest growth. Scrolls are available at a lower cost and reduce the vibration noise. It also lessens the refrigerant leak risk with the usage of screw compressors.
Based on the application, medical devices are expected to control the growth of the market. The growing use of MRI systems in diagnostic imaging coupled with technological advancements in the field of computed tomography is stimulating the market. Moreover, the growing use of pet scanners has positively influenced the market. The economic benefits offered by the optimal device is also boosting the market.
Based on end-users, hospital laboratories and outpatient clinics are expected to dictate the market growth. The rapid expansion of hospitals alongside a rise in healthcare expenditure has bolstered the market. The growing number of the diagnostic imaging procedure coupled with rising demand and usage of LINAC and lasers is fueling the growth of the market.
In terms of region, the Asia-Pacific region is expected to witness immense growth owing to the rise in healthcare expenditure, especially in emerging economies like China, Japan, and India. The growing awareness of optimal thermal management and rising cases of chronic diseases and ailments is boosting the presence of the market in the region. North America is the global leader of the market owing to the presence of major players and well-established healthcare systems in countries like the US and Canada. The growing adoption of the latest and advanced technologies is also driving the market in the region.

Major players of the market are:
• Glen Dimplex Group
• Drake Refrigeration, Inc.
• General Air Products, Inc.
• Filtrine Manufacturing Company, Inc.
• Legacy Chiller Systems Inc
• Parker Hannifin Corp
• American Chillers
• Haskris
• Johnson Thermal Systems
• Motivair Corporation
• Whaley Products Inc.
(Note: The list of the major players will be updated with the latest market scenario and trends)

Competitive Landscape:
● KKT Chillers established it's new center in China, in order to meet the growing demand of chillers in the Asia-Pacific region
● Laird Technologies upgraded its Tunnel Series TEA. Tunnel Series TEA offers a prolonged line of cooling capacities up to 100 watts
● Glen Dimplex offers passive cooling solution in stand-alone and integrated models for medical equipment such as MRI, linear accelerators and CT. The company is present across China, Ireland, Germany and the US

Medical Equipment Cooling Market Segmentation:
By Type
• Liquid-based Cooling
o Liquid-Liquid Configuration
o Liquid-Air Heat Transfer Configuration
o Compressor-Based Recirculating Configuration
• Air-based Cooling
o Direct-To-Air Configuration
o Air-To-Air Configuration
By Compressor
• Scroll Compressors
• Screw Compressors
• Centrifugal Compressors
• Reciprocating Compressors
By Configuration
• Packaged Systems
• Modular Systems
• Split Systems
By Application
• Medical Devices
• Medical Imaging Systems
o Magnetic Resonance Imaging Systems
o Computed Tomography Scanners
o Positron Emission Tomography Scanners
• Medical Lasers
• Linear Accelerators

By End-User
• Original Equipment Manufacturers
• Hospital, Laboratories and Outpatient Clinics
• Independent Diagnostics & Treatment Centers and Laboratories
• Analytical & Laboratory Equipment

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
FutureWise Key Takeaways
• Growth Prospects
• SWOT Analysis
• Key Trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global medical equipment cooling market by type, by compressor, by configuration, 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 & Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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