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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

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Date: 08-Mar-2019
No. of pages: 136
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“The medical equipment cooling market is projected to grow at a CAGR of 3.8% during the forecast period.”

The global medical equipment cooling market is projected to reach USD 233 million by 2024 from USD 193 million in 2019, at a CAGR of 3.8%. Growth in this 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. However, the risk of corrosion in cooling systems is a major factor that is expected to challenge the growth of this market during the forecast period.

“The air-based cooling segment is to witness higher growth in the medical equipment cooling market during the forecast period.”

Based on type, the medical equipment cooling market is segmented into liquid-based cooling, (liquid-liquid configuration, liquid-air heat transfer configuration, and compressor-based recirculating configuration) and air-based cooling (direct-air configuration and air-to-air configuration). The air-based cooling segment of the medical equipment cooling market is expected to grow at a higher CAGR during the forecast period. The high growth of this segment can be attributed to it slower cost and the risk of failure associated with air-based cooling.

“The OEMs segment accounted for the largest share of the medical equipment cooling market in 2018.”

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. The OEMs segment accounted for the largest share of the global medical equipment cooling market in 2018. 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.

“Europe accounted for the second-largest share of the global market in 2018.”

Based on region, the medical equipment cooling market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. Europe accounted for the second-largest share of the global medical equipment cooling market in 2018. The increasing incidence of cancer, growing geriatric population, the growing healthcare expenditure, the need for early diagnosis, and the increased adoption of advanced systems are the major factors propelling the demand for medical equipment cooling in Europe.

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%


The major players in the 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.

Research Coverage

This report studies the medical equipment cooling market based on type, compressor, configuration, application, end user, and region. The report also studies factors such as drivers, restraints, and challenges that affect market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to individual growth trends and forecasts the revenue of the market segments with respect to four main regions and the respective countries in these regions.

Key Benefits of Buying the Report

This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the medical equipment cooling market, and high-growth regions along with their drivers, restraints, challenges, and opportunities. This report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Estimation Methodology
2.2.1 Product-Based Market Estimation
2.2.2 Volume-Based Market Estimation
2.2.3 Primary Research Validation
2.3 Market Breakdown and Data Triangulation
2.4 Research Limitations and Assumptions
2.4.1 Limitations
2.4.2 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Medical Equipment Cooling Market Overview
4.2 Regional Analysis: Market, By Configuration
4.3 Market, By Type
4.4 Market, By Compressor (USD Million)
4.5 Market, By Application
4.6 Asia Pacific: Market, By End User
4.7 Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Economic Benefits Offered By Medical Equipment Cooling
5.2.1.2 Technological Advancements in Diagnostic Imaging Modalities
5.2.1.3 Growing Global Prevalence of Cancer
5.2.1.4 Increasing Geriatric Population and Disease Incidence
5.2.1.5 Growing Number of Diagnostic Centers and Hospitals
5.2.2 Opportunities
5.2.2.1 Emerging Markets
5.2.3 Challenges
5.2.3.1 Risk of Corrosion in Cooling Systems

6 Medical Equipment Cooling Market, By Type
6.1 Introduction
6.2 Liquid-Based Cooling
6.2.1 Long Lifespans and Reduced Noise of Liquid Cooling Systems are Key Drivers of Market Growth
6.2.2 Liquid-Liquid Configuration
6.2.3 Liquid-Air Heat Transfer Configuration
6.2.4 Compressor-Based Recirculating Configuration
6.3 Air-Based Cooling
6.3.1 The Reduced Cost of Air Cooling is A Key Factor Driving Product Demand
6.3.2 Direct-To-Air Configuration
6.3.3 Air-To-Air Configuration

7 Medical Equipment Cooling Market, By Compressor
7.1 Introduction
7.2 Scroll Compressors
7.2.1 Reduced Prices of Scroll Compressors are Driving Their Demand Among End Users
7.3 Screw Compressors
7.3.1 Screw Compressors Offer the Advantage of Reduced Risk of Refrigerant Leakage
7.4 Centrifugal Compressors
7.4.1 High Energy Efficiency of Centrifugal Compressors – A Major Factor Driving Their Demand Among End Users
7.5 Reciprocating Compressors
7.5.1 The Complex Nature of Installation of Reciprocating Compressors is Limiting Their Adoption

8 Medical Equipment Cooling Market, By Configuration
8.1 Introduction
8.2 Packaged Systems
8.2.1 Components Assembled at A Factory Eliminate the Need to Design and Install These Systems—A Key Factor Driving Market Growth
8.3 Modular Systems
8.3.1 Modular Cooling Systems are Self-Contained, Which Eliminates the Need to Assemble Components—A Key Factor Driving the Adoption of These Systems
8.4 Split Systems
8.4.1 The Added Cost of Assembling and Engineering Split Units is A Key Market Restraint

9 Medical Equipment Cooling Market, By Application
9.1 Introduction
9.2 Medical Devices
9.2.1 Medical Imaging Systems
9.2.1.1 Magnetic Resonance Imaging Systems
9.2.1.1.1 Growing Use of MRI Systems in Diagnostic Imaging is Driving Market Growth
9.2.1.2 Computed Tomography Scanners
9.2.1.2.1 Technological Advancements in the Field of CT are Driving the Demand for Optimal Cooling
9.2.1.3 Positron Emission Tomography Scanners
9.2.1.3.1 Increasing Use of Pet Scanners has Boosted the Demand for Cooling Systems
9.2.2 Medical Lasers
9.2.2.1 Optimal Cooling is Required to Improve the Shelf-Life of Lasers
9.2.3 Linear Accelerators
9.2.3.1 Increasing Prevalence of Cancer is Driving the Demand for Linac Cooling
9.3 Analytical & Laboratory Equipment
9.3.1 Need for High Heat Dissipation in Analytical and Laboratory Equipment Driving the Growth

10 Medical Equipment Cooling Market, By End User
10.1 Introduction
10.2 Original Equipment Manufacturers
10.2.1 OEMS Depend on Efficient Cooling Systems to Remove High-Watt Density Heat Loads From Medical Imaging Equipment
10.3 Hospitals, Laboratories, and Outpatient Clinics
10.3.1 Growth of This Segment Can Be Attributed to the Rising Number of Diagnostic Imaging Procedures Performed in Hospital Settings
10.4 Independent Diagnostic & Treatment Centers and Laboratories
10.4.1 Increasing Number of Private and Public Imaging Centers to Support Market Growth
10.5 Other End Users

11 Medical Equipment Cooling Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US Dominates the Global Medical Equipment Cooling Market, Due to the Presence of A Well-Established Healthcare System & Greater Adoption of Advanced Technologies in the Region
11.2.2 Canada
11.2.2.1 Lower Adoption of Advanced Medical Devices is Restraining the Growth of the Medical Equipment Cooling Market in Canada
11.3 Europe
11.3.1 Germany
11.3.1.1 Germany to Register the Highest Growth in the European Medical Equipment Cooling Market During the Forecast Period
11.3.2 UK
11.3.2.1 Increasing Adoption of High-End Cancer Diagnostic Equipment to Drive Market Growth
11.3.3 France
11.3.3.1 Rising Healthcare Expenditure in France has Boosted the Adoption of Medical Equipment Cooling Systems
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Favorable Government Investments and Growing Population Have Driven Healthcare Infrastructural Development
11.4.2 Japan
11.4.2.1 Rising Geriatric Population is Boosting the Adoption of Medical Equipment Cooling in Japan
11.4.3 India
11.4.3.1 India’s First Domestic, Low-Cost MRI Machine Was Introduced in 2018
11.4.4 Rest of Asia Pacific
11.5 Rest of the World

12 Competitive Landscape
12.1 Introduction
12.2 Ranking of Players, 2017
12.3 Competitive Scenario
12.3.1 Product Enhancement
12.3.2 Expansions

13 Company Profiles
(Business Overview, Products Offered, Recent Developments, MnM View)*
13.1 American Chillers
13.2 Cold Shot Chillers
13.3 Drake Refrigeration, Inc.
13.4 Filtrine Manufacturing Company
13.5 General Air Products, Inc.
13.6 Glen Dimplex Group
13.7 Haskris
13.8 Johnson Thermal Systems
13.9 KKT Chillers
13.10 Laird Technologies, Inc.
13.11 Legacy Chiller Systems
13.12 Lytron Inc
13.13 Motivair Corporation
13.14 Parker Hannifin Corp
13.15 Whaley Products, Inc.

*Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables

Table 1 Market, By Type, 2017–2024 (USD Million)
Table 2 Liquid-Based Cooling Market, By Type, 2017–2024 (USD Million)
Table 3 Liquid-Based Cooling Market, By Region, 2017–2024 (USD Million)
Table 4 Air-Based Cooling Market, By Type, 2017–2024 (USD Million)
Table 5 Air-Based Cooling Market, By Region, 2017–2024 (USD Million)
Table 6 Market, By Compressor, 2017–2024 (USD Million)
Table 7 Market for Scroll Compressors, By Region, 2017–2024 (USD Million)
Table 8 Market for Screw Compressors, By Region, 2017–2024 (USD Million)
Table 9 Market for Centrifugal Compressors, By Region, 2017–2024 (USD Million)
Table 10 Market for Reciprocating Compressors, By Region, 2017–2024 (USD Million)
Table 11 Market, By Configuration, 2017–2024 (USD Million)
Table 12 Packaged Medical Equipment Cooling Systems Market, By Region, 2017–2024 (USD Million)
Table 13 Modular Medical Equipment Cooling Systems Market, By Region, 2017–2024 (USD Million)
Table 14 Split Medical Equipment Cooling Systems Market, By Region, 2017–2024 (USD Million)
Table 15 Market, By Application, 2017–2024 (USD Million)
Table 16 Medical Device Cooling Market, By Region, 2017–2024 (USD Million)
Table 17 Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 18 Medical Imaging System Cooling Market, By Application, 2017–2024 (USD Million)
Table 19 Medical Imaging System Cooling Market, By Region, 2017–2024 (USD Million)
Table 20 MRI System Cooling Market, By Region, 2017–2024 (USD Million)
Table 21 CT Scanner Cooling Market, By Region, 2017–2024 (USD Million)
Table 22 Pet Scanner Cooling Market, By Region, 2017–2024 (USD Million)
Table 23 Medical Laser Cooling Market, By Region, 2017–2024 (USD Million)
Table 24 Linac Cooling Market, By Region, 2017–2024 (USD Million)
Table 25 Analytical & Laboratory Equipment Cooling Market, By Region, 2017–2024 (USD Million)
Table 26 Market, By End User, 2017–2024 (USD Million)
Table 27 Medical Equipment Cooling Market for Original Equipment Manufacturers, By Region, 2017–2024 (USD Million)
Table 28 Medical Equipment Cooling: Market for Hospitals, Laboratories, and Outpatient Clinics, By Region, 2017–2024 (USD Million)
Table 29 Medical Equipment Cooling: Market for Independent Diagnostic & Treatment Centers and Laboratories, By Region, 2017–2024 (USD Million)
Table 30 Medical Equipment Cooling: Market for Other End Users, By Region, 2017–2024 (USD Million)
Table 31 Market, By Region, 2017–2024 (USD Million)
Table 32 North America: Market, By Country, 2017–2024 (USD Million)
Table 33 North America: Market, By Type, 2017–2024 (USD Million)
Table 34 North America: Market, By Compressor, 2017–2024 (USD Million)
Table 35 North America: Market, By Configuration, 2017–2024 (USD Million)
Table 36 North America: Market, By Application, 2017–2024 (USD Million)
Table 37 North America: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 38 North America: Medical Imaging System Cooling Market, By Application, 2017–2024 (USD Million)
Table 39 North America: Market, By End User, 2017–2024 (USD Million)
Table 40 US: Market, By Type, 2017–2024 (USD Million)
Table 41 US: Market, By Application, 2017–2024 (USD Million)
Table 42 US: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 43 Canada: Market, By Type, 2017–2024 (USD Million)
Table 44 Canada: Market, By Application, 2017–2024 (USD Million)
Table 45 Canada: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 46 Europe: Market, By Country, 2017–2024 (USD Million)
Table 47 Europe: Market, By Type, 2017–2024 (USD Million)
Table 48 Europe: Market, By Compressor, 2017–2024 (USD Million)
Table 49 Europe: Market, By Configuration, 2017–2024 (USD Million)
Table 50 Europe: Market, By Application, 2017–2024 (USD Million)
Table 51 Europe: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 52 Europe: Medical Imaging System Cooling Market, By Application, 2017–2024 (USD Million)
Table 53 Europe: Market, By End User, 2017–2024 (USD Million)
Table 54 Germany: Market, By Type, 2017–2024 (USD Million)
Table 55 Germany: Market, By Application, 2017–2024 (USD Million)
Table 56 Germany: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 57 UK: Market, By Type, 2017–2024 (USD Million)
Table 58 UK: Market, By Application, 2017–2024 (USD Million)
Table 59 UK: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 60 France: Market, By Type, 2017–2024 (USD Million)
Table 61 France: Market, By Application, 2017–2024 (USD Million)
Table 62 France: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 63 RoE: Market, By Type, 2017–2024 (USD Million)
Table 64 RoE: Market, By Application, 2017–2024 (USD Million)
Table 65 RoE: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 66 Asia Pacific: Market, By Country, 2017–2024 (USD Million)
Table 67 Asia Pacific: Market, By Type, 2017–2024 (USD Million)
Table 68 Asia Pacific: Market, By Compressor, 2017–2024 (USD Million)
Table 69 Asia Pacific: Market, By Configuration, 2017–2024 (USD Million)
Table 70 Asia Pacific: Market, By Application, 2017–2024 (USD Million)
Table 71 Asia Pacific: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 72 Asia Pacific: Medical Imaging System Cooling Market, By Application, 2017–2024 (USD Million)
Table 73 Asia Pacific: Market, By End User, 2017–2024 (USD Million)
Table 74 China: Market, By Type, 2017–2024 (USD Million)
Table 75 China: Market, By Application, 2017–2024 (USD Million)
Table 76 China: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 77 Japan: Market, By Type, 2017–2024 (USD Million)
Table 78 Japan: Market, By Application, 2017–2024 (USD Million)
Table 79 Japan: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 80 India: Market, By Type, 2017–2024 (USD Million)
Table 81 India: Market, By Application, 2017–2024 (USD Million)
Table 82 Japan: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 83 RoAPAC: Market, By Type, 2017–2024 (USD Million)
Table 84 RoAPAC: Market, By Application, 2017–2024 (USD Million)
Table 85 RoAPAC: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 86 RoW: Market, By Type, 2017–2024 (USD Million)
Table 87 RoW: Market, By Compressor, 2017–2024 (USD Million)
Table 88 RoW: Market, By Configuration, 2017–2024 (USD Million)
Table 89 RoW: Market, By Application, 2017–2024 (USD Million)
Table 90 RoW: Medical Device Cooling Market, By Application, 2017–2024 (USD Million)
Table 91 RoW: Medical Imaging System Cooling Market, By Application, 2017–2024 (USD Million)
Table 92 RoW: Market, By End User, 2017–2024 (USD Million)

List of Figures

Figure 1 Medical Equipment Cooling: Market: Research Methodology Steps
Figure 2 Research Design
Figure 3 Bottom-Up Approach Market Size Estimation: Medical Equipment Cooling: Market
Figure 4 Top-Down Approach Market Size Estimation: Medical Equipment Cooling Product Market
Figure 5 Data Triangulation Methodology
Figure 6 Market, By Type, 2019 (USD Million)
Figure 7 Market, By Compressor, 2019 vs 2024 (USD Million)
Figure 8 Market Share, By Configuration, 2019 vs 2024
Figure 9 Market Share, By Application, 2019 vs 2024
Figure 10 Market, By End User, 2019 vs 2024 (USD Million)
Figure 11 Market: Geographical Snapshot
Figure 12 Technological Advancements in Diagnostic Imaging are Driving the Growth of the Medical Equipment Cooling: Market
Figure 13 North America to Dominate the Medical Equipment Cooling Configuration Market in 2019
Figure 14 Air-Based Cooling to Register the Highest CAGR in the Market During the Forecast Period
Figure 15 Scroll Compressors to Dominate the Medical Equipment Cooling: Market During the Forecast Period
Figure 16 Medical Imaging Systems to Hold the Largest Share of the Medical Device Cooling Market During the Forecast Period
Figure 17 Original Equipment Manufacturers to Dominate the Medical Equipment Cooling: Market in Asia Pacific in 2019
Figure 18 China to Witness the Highest CAGR During the Forecast Period (2019–2024)
Figure 19 Medical Equipment Cooling: Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Liquid-Based Cooling Segment Dominated the Medical Equipment Cooling: Market During the Forecast Period
Figure 21 Scroll Compressors Segment to Account for the Largest Share of the Medical Equipment Cooling: Market During the Forecast Period
Figure 22 Packaged Systems to Hold the Largest Share of the Medical Equipment Cooling: Market During the Forecast Period
Figure 23 Medical Devices to Hold the Largest Share of the Medical Equipment Cooling: Market During the Forecast Period
Figure 24 OEMS are Expected to Hold the Largest Share of the Medical Equipment Cooling: Market During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 Europe: Market Snapshot
Figure 27 Asia Pacific: Market Snapshot
Figure 28 RoW: Market Snapshot
Figure 29 Glen Dimplex Group Held the Leading Position in the Medical Equipment Cooling Market in 2017
Figure 30 Parker Hannifin Corp: Company Snapshot (2018)

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