Medical Equipment Cooling Market: Moving Towards Brighter Future

Posted by Donald Rooney on October 10th, 2019

Medical equipment requires internal cooling to ensure their smooth and efficient functioning. Proper cooling of equipments is required to ensure precise readings and results. Various equipments including X-Rays, MRI’s require combination of cooling, refrigeration and humidification to ensure its accurate and reliable readings with liquid-based or air-based methods. Global medical equipment cooling market is expected to rise from to an estimated value of USD 249.02 million by 2026 registering a steady CAGR in the forecast period of 2019-2026. Key players profiled in this report are: GLEN DIMPLEX GROUP., Legacy Chiller Systems, Inc., American Chillers, General Air Products, Advanced Cooling Technologies, Inc., Aspen Systems Inc., Filtrine Manufacturing Company, Laird Thermal Systems, Air Products and Chemicals, Inc., Drake Refrigeration Inc., Pelonis Technologies, inc., Peter Huber Kältemaschinenbau AG, TITAN Technology Limited, METRUM CRYOFLEX Sp. z o.o., Sp. k., Lytron, Motivair Corporation

Market Drivers

•          Increasing ageing population would foster the growth of this market, as old people are more prone to diseases such as diabetes, CAD etc
•          Rising number of diagnostic centers and hospitals globally would foster the growth of this market
•          Financial advantage received by medical equipment cooling would drive the growth of this market
•          Rising demand of medical imaging system and minimally invasive treatments boosts the growth

Market Restraints

•          Risk of corrosion of cooling system hinders the growth of this market
•          Presence of strict regulations and compliances regarding the approval of these equipments is expected to restrain the growth of the market

Key Developments in the Market:

•          In May, 2019 Atlas Copco announced that they had agreed to acquire Eurochiller S.r.l. With this acquisition, Atlas Copco would be expanding their product portfolio to include cooling equipments. Thus, with Atlas Corpo’s efficiency and quality in production it would bring about new and innovative cooling equipments, enhancing the growth of the cooling equipment market.
•          In November 2017, Laird Thermal Systems extended its product line of thermoelectric assembly (TEA) products with the introduction of a new, innovative and technologically advanced range of products for critical medical equipments. It has enhanced its product features and the cooling capacities to cater to medical equipment needs.
•          In May 2016, KKT chillers expanded its service capabilities by opening a new service center in Shanghai, China. This expansion was done in order to cater to the rising demand for chiller and equipment coolers by the various end-use industries.

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Primary Respondents

•          Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
•          Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

Competitive Analysis:

Global medical equipment cooling market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical equipment cooling market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Customization of the Report:

•          All segmentation provided above in this report is represented at country level
•          All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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