(PharmaNewsWire.Com, March 24, 2022 ) According to the new market research report, "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", The medical equipment cooling market is projected to grow from an estimated USD 233 million in 2024 to USD 193 million by 2019, at a CAGR of 3.8% during the forecast period.
Economic benefits offered by medical equipment cooling, technological advancements in diagnostic imaging modalities are the major factors driving the growth of this market. Additionally, the growing global prevalence of cancer, increasing geriatric population, and growing number of diagnostic centers and hospitals are some of the other major factors driving the growth of this market.
This study involved four major activities in estimating the current size of the medical equipment cooling market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.
# 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.
Asia Pacific is expected to grow at the highest CAGR in the medical equipment cooling market during the forecast period.
The Asia Pacific region is one of the major revenue-generating regions in the medical equipment cooling industry. China, India, and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing awareness of optimal Thermal Management of medical equipment, increase in healthcare expenditure, and rising geriatric population.
Key Questions Addressed by the Report:
# What are the growth opportunities related to the adoption of medical equipment cooling across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of medical equipment cooling modalities. Will this scenario continue in the next five years?
# Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
The major players operating in the medical equipment cooling market are Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), 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).
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