$233 Million Medical Equipment Cooling Market by 2024 - Global Analysis & Outlook by Type, Compressor, Configuration, Application and End-use - ResearchAndMarkets.com
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.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
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
5.2 Market Dynamics
184.108.40.206 Economic Benefits Offered By Medical Equipment Cooling
220.127.116.11 Technological Advancements in Diagnostic Imaging Modalities
18.104.22.168 Growing Global Prevalence of Cancer
22.214.171.124 Increasing Geriatric Population and Disease Incidence
126.96.36.199 Growing Number of Diagnostic Centers and Hospitals
188.8.131.52 Emerging Markets
184.108.40.206 Risk of Corrosion in Cooling Systems
6 Medical Equipment Cooling Market, By Type
6.2 Liquid-Based Cooling
6.3 Air-Based Cooling
7 Medical Equipment Cooling Market, By Compressor
7.2 Scroll Compressors
7.3 Screw Compressors
7.4 Centrifugal Compressors
7.5 Reciprocating Compressors
8 Medical Equipment Cooling Market, By Configuration
8.2 Packaged Systems
8.3 Modular Systems
8.4 Split Systems
9 Medical Equipment Cooling Market, By Application
9.2 Medical Devices
9.3 Analytical & Laboratory Equipment
10 Medical Equipment Cooling Market, By End User
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
11.2 North America
11.4 Asia Pacific
11.5 Rest of the World
12 Competitive Landscape
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
13.8 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.
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Related Topics:Medical Devices
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