Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- 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 medical equipment cooling market is projected to reach USD 232.9 million by 2024 from USD 193.1 million in 2019, at a CAGR of 3.8% from 2019 to 2024.
The growth of the medical equipment cooling market is mainly driven by the economic benefits offered by cooling systems. High heat generation can render equipment unusable and, thereby, severely affect overall productivity; as a result, the implementation of cooling systems is becoming a key area of focus for a number of healthcare providers, particularly given the rising incidence of cancer and other diseases and a growing geriatric population. Technological advancements have also contributed to market growth. Emerging markets such as China, India, Brazil, and South Africa are expected to offer lucrative growth opportunities to market players. However, the risk of corrosion in cooling systems is a key factor affecting the growth of the medical equipment cooling market.
Emerging Asian countries, such as China, India, and Japan, are expected to offer high growth opportunities for market players during the forecast period. This regional segment is expected to register the highest CAGR of 4.4% from 2019 to 2024. The key factors driving the growth of the Asia Pacific market include increasing awareness of optimal thermal management of medical equipment, increase in healthcare expenditure, and rising geriatric population.
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).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Medical Equipment Cooling Market Overview
4.2 Regional Analysis: Medical Equipment Cooling Market, By Configuration
4.3 Medical Equipment Cooling Market, By Type
4.4 Medical Equipment Cooling Market, By Compressor (USD Million)
4.5 Medical Equipment Cooling Market, By Application
4.6 Asia Pacific: Medical Equipment Cooling Market, By End User
4.7 Medical Equipment Cooling 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
6.2.1 Long Lifespan's and Reduced Noise of Liquid Cooling Systems are Key Drivers of Market Growth
6.2.2 Liquid-Liquid Configuration
6.2.3 Liquid-Air Heat Transfer Configuration
6.2.4 Compressor-Based Recirculating Configuration
6.3 Air-Based Cooling
6.3.1 The Reduced Cost of Air Cooling is A Key Factor Driving Product Demand
6.3.2 Direct-To-Air Configuration
6.3.3 Air-To-Air Configuration
7 Medical Equipment Cooling Market, By Compressor
7.1 Introduction
7.2 Scroll Compressors
7.2.1 Reduced Prices of Scroll Compressors are Driving Their Demand Among End Users
7.3 Screw Compressors
7.3.1 Screw Compressors Offer the Advantage of Reduced Risk of Refrigerant Leakage
7.4 Centrifugal Compressors
7.4.1 High Energy Efficiency of Centrifugal Compressors - A Major Factor Driving Their Demand Among End Users
7.5 Reciprocating Compressors
7.5.1 The Complex Nature of Installation of Reciprocating Compressors is Limiting Their Adoption
8 Medical Equipment Cooling Market, By Configuration
8.1 Introduction
8.2 Packaged Systems
8.2.1 Components Assembled at A Factory Eliminate the Need to Design and Install These SystemsA Key Factor Driving Market Growth
8.3 Modular Systems
8.3.1 Modular Cooling Systems are Self-Contained, Which Eliminates the Need to Assemble ComponentsA Key Factor Driving the Adoption of These Systems
8.4 Split Systems
8.4.1 The Added Cost of Assembling and Engineering Split Units is A Key Market Restraint
9 Medical Equipment Cooling Market, By Application
9.1 Introduction
9.2 Medical Devices
9.2.1 Medical Imaging Systems
9.2.1.1 Magnetic Resonance Imaging Systems
9.2.1.1.1 Growing Use of Mri Systems in Diagnostic Imaging is Driving Market Growth
9.2.1.2 Computed Tomography Scanners
9.2.1.2.1 Technological Advancements in the Field of CT are Driving the Demand for Optimal Cooling
9.2.1.3 Positron Emission Tomography Scanners
9.2.1.3.1 Increasing Use of Pet Scanners has Boosted the Demand for Cooling Systems
9.2.2 Medical Lasers
9.2.2.1 Optimal Cooling is Required to Improve the Shelf-Life of Lasers
9.2.3 Linear Accelerators
9.2.3.1 Increasing Prevalence of Cancer is Driving the Demand for Linac Cooling
9.3 Analytical & Laboratory Equipment
9.3.1 Need for High Heat Dissipation in Analytical and Laboratory Equipment Driving the Growth
10 Medical Equipment Cooling Market, By End User
10.1 Introduction
10.2 Original Equipment Manufacturers
10.2.1 OEMs Depend on Efficient Cooling Systems to Remove High-Watt Density Heat Loads From Medical Imaging Equipment
10.3 Hospitals, Laboratories, and Outpatient Clinics
10.3.1 Growth of This Segment Can Be Attributed to the Rising Number of Diagnostic Imaging Procedures Performed in Hospital Settings
10.4 Independent Diagnostic & Treatment Centers and Laboratories
10.4.1 Increasing Number of Private and Public Imaging Centers to Support Market Growth
10.5 Other End Users
11 Medical Equipment Cooling Market, By Region
12 Competitive Landscape
12.1 Introduction
12.2 Ranking of Players, 2017
12.3 Competitive Scenario
12.4 Vendor Dive Overview
12.5 Vendor Inclusion Criteria
12.6 Vendor Dive
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.
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