In The Past Few Decades, There Has Been A Marked Increase In The Incidence Of Cancer And Chronic Diseases. Cancer Treatment And Other Similar Diseases Require A Variety Of Tests And Treatment Processes That Are Completed With The Assistance Of Complex Medical Systems, And For Such Equipment, A Cooling System Is Crucial In Achieving The Best Results

Seoul, South Korea, Aug. 05, 2022 (GLOBE NEWSWIRE) -- As per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, expanding at a CAGR of 3.6%, the global medical equipment cooling market is projected to increase from a valuation of US$ 210 million in 2022 to US$ 278.67 million by 2030.

Systems for cooling medical equipment are used to reduce the heat load produced by diagnostic tools. Medical cooling systems can help achieve the goal of delivering high-quality patient care by extending the lifespan of imaging equipment. The cooling strategy is used to reduce high-watt density heat loads on devices such as medical lasers and imaging equipment.

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For the refrigerant cycle cooling of large medical equipment, compressor-driven air conditioning units are widely used. Compressor, condenser, evaporator, expansion valve, and system monitoring devices for temperature and pressure transduction make up the refrigeration cycle.

Market players are teaming up with medical equipment manufacturers, hospitals, and outpatient clinics to satisfy the highest reliability, efficiency, and design standards.

Which Application of Medical Equipment Cooling Drives High Market Growth?

“Effective Working of High-Power Medical Devices Requires Efficient Medical Equipment Cooling Systems”

The market for medical equipment cooling is segmented into medical devices and analytical & laboratory equipment based on application.
The market segment for medical devices is anticipated to develop at the fastest growth rate. This is due to the worldwide expansion of hospital networks, which is expanding rapidly. The hospital that treats patients with life-threatening illnesses needs to be outfitted with the powerful equipment required for therapy, as well as the appropriate cooling equipment.

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Key Segments Covered in the Medical Equipment Cooling Industry Survey

• By Type :
  
  
  • Liquid-based Cooling
    
  • Air-based Cooling

• By Configuration :
  
  
  • Packaged Systems
    
  • Modular Systems
  • Split Systems
    
    
• By Compressor :
  
  
  • Scroll Compressors
    
  • Screw Compressors
  • Centrifugal Compressors
  • Reciprocating Compressors

• By Application :
  
  
  • Medical Devices
    
  • Analytical & Laboratory Equipment

Competitive Landscape

To expand their market shares, key players are using a range of strategic actions, including mergers and acquisitions, technological collaborations, partnerships, and the development and release of cutting-edge solutions.

• Laird Thermal Systems unveiled a new website with cutting-edge engineering tools in 2019. Engineers can specify, search for, and choose the best thermoelectric module and liquid cooling system for a variety of applications.
• In July 2019, liquid cooling expert Lytron was purchased by Boyd Corporation, a world authority in thermal control. This acquisition is in line with Boyd's commitment to expanding its technology portfolio with additional chiller system solutions and developing specific volumes of liquid cold plates and heat exchangers for the medical and aerospace markets to meet the growing demand for liquid-cooled solutions.

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Key players in the Medical Equipment Cooling Market

• American Chillers
• Drake Refrigeration, Inc.
• General Air Products, Inc.
• Haskris
• Johnson Thermal Systems
• Laird Technologies, Inc.
• Cold Shot Chillers
• Filtrine Manufacturing Company

Key Takeaways from Medical Equipment Cooling Market Study

• The global medical equipment cooling market is to reach a valuation of US$ 278.67 million by 2030.
• Demand for medical equipment cooling systems is expected to increase at a CAGR of 3.6% from 2022 to 2030.
• Medical equipment cooling device sales growth is aided by hospitals treating patients with terminal conditions needing to have the necessary heavy machinery and adequate cooling devices installed.
• The Asia Pacific & Latin America regions are the most profitable markets for medical equipment cooling system suppliers.

About the Healthcare Division at Fact.MR

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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