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$233 Million Medical Equipment Cooling Market by 2024 - Global Analysis & Outlook by Type, Compressor, Configuration, Application and End-use - ResearchAndMarkets.com

March 14, 2019

DUBLIN--(BUSINESS WIRE)--Mar 14, 2019--The “Medical Equipment Cooling Market by Type, Compressor, Configuration, Application, End Use - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

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.

In 2017, Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), and Filtrine Manufacturing Company, Inc. (US), accounted for a major share.

Other key players in this market include 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).

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 its lower 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.

Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Currency

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Estimation Methodology

2.3 Market Breakdown and Data Triangulation

2.4 Research Limitations and 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

6.3 Air-Based Cooling

7 Medical Equipment Cooling Market, By Compressor

7.1 Introduction

7.2 Scroll Compressors

7.3 Screw Compressors

7.4 Centrifugal Compressors

7.5 Reciprocating Compressors

8 Medical Equipment Cooling Market, By Configuration

8.1 Introduction

8.2 Packaged Systems

8.3 Modular Systems

8.4 Split Systems

9 Medical Equipment Cooling Market, By Application

9.1 Introduction

9.2 Medical Devices

9.3 Analytical & Laboratory Equipment

10 Medical Equipment Cooling Market, By End User

10.1 Introduction

10.2 Original Equipment Manufacturers

10.3 Hospitals, Laboratories, and Outpatient Clinics

10.4 Independent Diagnostic & Treatment Centers and Laboratories

10.5 Other End Users

11 Medical Equipment Cooling Market, By Region

11.1 Introduction

11.2 North America

11.3 Europe

11.4 Asia Pacific

11.5 Rest of the World

12 Competitive Landscape

12.1 Introduction

12.2 Ranking of Players, 2017

12.3 Competitive Scenario

13 Company Profiles

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.

For more information about this report visit https://www.researchandmarkets.com/research/kqvjzd/233_million?w=4

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Related Topics:Medical Devices

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Research and Markets

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PUB: 03/14/2019 11:35 AM/DISC: 03/14/2019 11:35 AM

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