The global medical equipment cooling market was valued at US $200 million in the year 2020 and is anticipated to be worth US $296 million by the year 2030 with a growing compound annual growth rate (CAGR) of more than 4% in the forecast period from 2021 to 2030.

Medical cooling systems are used during diagnostics examinations to reduce surplus heat by medical equipment this results in prolonging the life of medical equipment, producing high-quality imaging, and provide towards efficient patient care. Therefore, cooling systems are critical to the smooth operation of medical equipment.

Factors Affecting

• An increasing number of hospitals and improvements in machinery are leading to a surging demand for equipment cooling systems.
• Research projects specializing in diagnosing infectious diseases are aggressively being approached by many countries’ governments, thus fueling the market demand.
• There has been an increase in the geriatric population, and an increase in chronic diseases suffered by these age groups is also likely to drive the market growth.
• The cooling systems have to be complied to strict regulatory procedure by the government to guarantee patients’ safety, which may hinder demand for the medical equipment cooling market.
• The expenses of medical and healthcare facilities and medical inflation is growing fast, which may slowdown the market growth.

Impact of Covid-19 

Government bodies imposed several lockdowns, which resulted in temporary production halts or a reduction in workforce. Due to such sanctions, the global medical cooling market was negatively affected. However, the Covid-19 pandemic also induced a rising demand for medical equipment such as ventilators, patient monitors, and other medical devices demand. In this way, the market can gradually grow post-pandemic with the aid of Covid-19-induced methods such as digital pathology and remote collection.

Regional insights

In terms of region, North America is the leading market for global medical equipment cooling systems, followed by Europe and Asia-Pacific.The well-established healthcare infrastructure in North America and the acceptance of enhanced and cutting-edge technologies, along with the rise in non-communicable diseases, all contribute to the market's growth. Furthermore, Asia-Pacific and Latin America are promising markets and are forecasted to flourish during the forecast period.It is due to the growing economy of many countries, increasing focus on healthcare infrastructure and facilities by several governments, increasing cases of chronic illnesses, and increasing number of geriatric populations.

Competitive Landscape

• American Chillers 
• Cold Shot Chillers 
• Drake Refrigeration, Inc. 
• Filtrine Manufacturing Company, Inc. 
• General Air Products, Inc. 
• Glen Dimplex Group 
• Haskris 
• Johnson Thermal Systems 
• KKT Chillers 
• Laird Technologies, Inc. 
• Lytron Inc. 
• Motivair Corporation 
• Parker Hannifin Corp 
• Whaley Products Inc. 

Segment Analysis

Medical Equipment Cooling Market, by Type

• Liquid-based Cooling
• Air-based Cooling

Medical Equipment Cooling Market, by Compressor

• Scroll Compressors
• Screw Compressors
• Centrifugal Compressors
• Reciprocating Compressors

Medical Equipment Cooling Market, by Configuration

• Packaged Systems
• Modular Systems
• Split Systems

Medical Equipment Cooling Market, by Application

• Medical Devices
  • Medical Imaging Systems
    • Magnetic Resonance Imaging Systems (MRI)
    • Computed tomography scanners (CT)
    • Positron Emission tomography systems (PET)
  • Medical Lasers
  • Linear Accelerators
• Analytical & Laboratory Equipment
• Original Equipment Manufacturers (OEMs)
• Hospitals, Laboratories, & Outpatient Clinics
• Independent Diagnostic & Treatment Centers and Laboratories
• Other End Users

Medical Equipment Cooling Market, by Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America