Medical Equipment Cooling Market Size, Share & Growth Report 2032

Medical Equipment Cooling Market: Industry Perspective

The global medical equipment cooling market size was worth around USD 234.87 million in 2023 and is predicted to grow to around USD 355.1 million by 2032 with a compound annual growth rate (CAGR) of roughly 4.70% between 2024 and 2032.

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Global Medical Equipment Cooling Market: Overview

The medical cooling equipment demand will incessantly increase across the medical sector. Thermal management finds a spectrum of applications in patient core management, medical cooling devices, skin cooling, and lab equipment cooling. Medical cooling equipment is utilized for diminishing heat produced by medical devices at the time of diagnostic processes. Through this, the medical cooling device can retain the lifespan of the imaging device and assist in achieving the objective of offering high-quality care to the patients.

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Global Medical Equipment Cooling Market: Growth Factors

The growth in the medical equipment cooling market is mainly influenced by the financial advantages offered by cooling equipment, the high frequency of cancer cases and other diseases, and the inflating aging population base. Additionally, the rise in diagnostic centers, ambulatory units, and hospitals will also contribute remarkably towards medical equipment cooling market size over the next few years. A fiscal benefit provided by medical equipment cooling and technological breakthroughs in diagnostic imaging is set to offer new horizons of development for the firms of the medical equipment cooling market. However, the rusting risk associated with the cooling equipment is likely to pose a threat to the market surge during the estimated time.

Nonetheless, reliable patient care and economic advantages provided by medical chillers, technical innovations embedded in medical chillers, and favorable government programs along with the massive incidence of chronic ailments are expected to lift the market trends.

Global Medical Equipment Cooling Market: Segmentation

The medical equipment cooling market can be classified into type, configuration, application, compressor, and end user.

By Type, the medical equipment cooling market is sectored into liquid & air-based cooling. Compressor wise, the market is divided into Scroll, Screw, Centrifugal, and Reciprocating. Configuration-wise, the market is classified into packaged, modular, and split.

Based on Application, the market is segmented into MRI, CT, PET, LINAC, and medical lasers. Based on the end user, the market is divided into hospitals & labs, OEMs, and diagnostic treatment centers & laboratories.

Medical Equipment Cooling Market: Report Scope

Global Medical Equipment Cooling Market: Regional Analysis

Based on region, the medical equipment cooling market can be divided into five main regions: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. North America is likely to contribute majorly towards overall medical equipment cooling market in the near future. The growth can be mainly credited to the well-established healthcare system in the region, greater adoption of advanced technologies, growing prevalence of non-communicable diseases, and presence of key players. It is likely to be followed by Europe and APAC in terms of growth.

The market in Asia Pacific will gain traction over the coming decade due to accelerated economic development along with massive government focus & emphasis on the healthcare sector. Additionally, rising cases of chronic diseases and an increasing old-age population are more susceptible to chronic ailment which will further contribute towards regional growth.

Medical Equipment Cooling Market: Competitive Analysis

The global medical equipment cooling market is dominated by players like:

• Parker Hannifin (U.S.)
• SKF (U.S.)
• Trelleborg AB (Sweden)
• A.W. Chesterton Company (U.S.)
• IDEX Corporation (U.S.)

The global medical equipment cooling market is divided as follows;

By Type Segment Analysis

• Liquid-based Cooling
• Air-based Cooling

By Compressor Segment Analysis

• Scroll Compressors
• Screw Compressors
• Centrifugal Compressors
• Reciprocating Compressors

By Configuration Segment Analysis

• Packaged Systems
• Modular Systems
• Split Systems

By Application Segment Analysis

• Medical Devices
  • Medical Imaging Systems
    • Magnetic Resonance Imaging Systems (MRI)
    • Computed tomography scanners (CT)
    • Positron Emission tomography systems (PET)
  • Medical Lasers
  • Linear Accelerators
• Analytical & Laboratory Equipment
• Original Equipment Manufacturers (OEMs)
• Hospitals, Laboratories, & Outpatient Clinics
• Independent Diagnostic & Treatment Centers and Laboratories
• Other End Users

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa