Medical Equipment Cooling Market Growing Steady at 3.8% CAGR and Projected to Reach US$ 233 Million by 2024

Growth in medical equipment cooling market is largely driven by factors such as the economic benefits offered by cooling systems, technological advancements in diagnostic imaging modalities, growing geriatric population, and rising incidence of cancer.

Pune, India - April 9, 2019 /MarketersMedia/ —

The global medical equipment cooling market is projected to reach US$ 233 Million by 2024 from US$ 193 million in 2019, at a CAGR of 3.8% dominated by air-based cooling segment is to witness higher growth in the medical equipment cooling market during the forecast period. The OEMs segment accounted for the largest share of the medical equipment cooling market in 2018.

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The major players in medical equipment cooling market include Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), and Filtrine Manufacturing Company, Inc. (US), Laird Technologies, Inc. (US), Cold Shot Chillers (US), KKT Chillers (Germany), General Air Products, Inc. (US), Drake Refrigeration, Inc. (US), Lytron, Inc. (US), Motivair Corporation (US), American Chillers (US), Parker Hannifin Corp (US), Whaley Products Inc. (US), Johnson Thermal Systems (US), and Haskris (US), among others.

The medical equipment cooling market is further categorized into screw, scroll, centrifugal, and reciprocating compressors. The scroll compressors segment is expected to grow at the highest growth rate during the forecast period owing to factors such as decreased vibration levels and the lower risk of refrigerant leakage associated with the use of screw compressors.

The large share of this segment can be attributed to the increasing usage and demand of devices such as diagnostic imaging systems, lasers, and LINAC to meet the increasing prevalence of chronic diseases. Furthermore, the availability of custom cooling solutions by manufacturers to suit the specific requirement of medical equipment manufacturers is adding significant growth opportunities to this end-user segment.

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Report studies medical equipment cooling market based on type, compressor, configuration, application, end user, and region. Report also studies factors such as drivers, restraints, and challenges that affect market growth. It analyzes opportunities and challenges in market and provides details of the competitive landscape for market leaders.
Based on end user, the medical equipment cooling market is segmented into original equipment manufacturers (OEMs); hospitals, laboratories, and outpatient clinics; independent diagnostic & treatment centers and laboratories, and other end users.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1- 25%, Tier 2 -30%, and Tier 3- 45%
• By Designation: C-level- 26%, Director-level - 30%, and Others- 44%
• By Region: North America - 34%, Europe-26%, APAC - 23%, and the RoW-17%

Know More “Medical Equipment Cooling Market by Type (Liquid & Air-based Cooling), Compressor (Scroll, Screw, Centrifugal, Reciprocating), Configuration (Packaged, Modular, Split), Application (MRI, CT, PET, LINAC, Medical Lasers), End User (OEMS, Hospitals & Labs, Diagnostic Treatment Centers & Laboratories) - Global Forecast to 2024” at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=2034572 .

The company manufactures and delivers a wide range of chillers and cooling solutions across the medical, food packaging, plastics, and semiconductor industries in the US and internationally. Glen Dimplex offers active and passive cooling solutions either in integrated or stand-alone modes, for a wide range of medical equipment such as CT, MRI, linear accelerators, and medical laser technology.

Recent Developments:
• In 2018, Laird Technologies (US) enhanced its Tunnel Series TEA which offers an expanded line of cooling capacities ranging up to 100 watts.
• In 2016, KKT Chillers (Germany) established a new service center in Shanghai, China, to meet the increasing demand for chillers in the region.

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