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Medical Equipment Cooling Market Size

Report ID: GMI3679
Published Date: Nov 2024
Report Format: PDF

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Medical Equipment Cooling Market Size

The global medical equipment cooling market size was valued at USD 445.9 million in 2023 and is estimated to grow at 3.8% CAGR from 2024 to 2032. Medical equipment cooling refers to the processes and technologies used to manage the temperature of medical devices and equipment to ensure optimal performance and longevity. Proper cooling is critical in various medical contexts, including the operation of imaging machines, laboratory instruments, and other electronic devices that generate heat during use.

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The market growth is primarily fueled by the growing prevalence of chronic diseases and an aging population base, leading to increased demand for diagnostic imaging tests. For instance, in March 2023, NHS England reported a 2.2% rise in imaging tests to 45 million. Common procedures such as plain radiography (22.0 million), diagnostic ultrasonography (10.3 million), CT scans (7.1 million), and MRI (4.1 million) contribute significantly.

Medical Equipment Cooling Market Report Attributes
Report Attribute	Details
Base Year:	2023
Medical Equipment Cooling Market Size in 2023:	USD 445.9 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	3.8%
2032 Value Projection:	USD 617.9 Million
Historical Data for:	2021 - 2023
No. of Pages:	136
Tables, Charts & Figures:	202
Segments covered:	Product Type, Compressor, Configuration, Application, End-use, and Region
Growth Drivers:	Increasing prevalence of chronic diseases Technological advancements in diagnostic imaging modalities Growing demand for temperature control Rising adoption of minimally invasive surgical techniques
Pitfalls & Challenges:	Upfront costs associated with purchasing and installing medical equipment cooling systems Regulatory compliance challenges

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The heat generated by imaging devices such as CT and MRI during the procedures underscores the need for effective cooling solutions to sustain equipment performance and durability. Therefore, as patient numbers and testing volumes surge, there is a heightened requirement for advanced imaging equipment, thus driving the necessity for cooling systems.

Moreover, ongoing investments in R&D are yielding more efficient, reliable, and environmentally friendly cooling technologies, further bolstering market expansion. These combined factors ensure a robust growth trajectory for the market in the foreseeable future.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of medical equipment cooling reached USD 445.9 million in 2023 and is set to grow at a 3.8% CAGR from 2024 to 2032, driven by the increasing prevalence of chronic diseases.

The scroll compressors segment held a 32.8% revenue share in 2023 due to their design, which minimizes energy loss and enhances performance, crucial for precise temperature control in medical devices.

The North America market was valued at USD 154.4 million in 2023 and is expected to expand at a 3.5% CAGR over the forecast period, led by the rising demand for diagnostic imaging services due to the prevalence of chronic diseases.

Key players in the market include American Chillers, Atlas Copco, Copeland, Daikin Industries, Drake Refrigeration, Ecochillers, ELGi Equipments Limited, Filtrine, General Air Products, Glen Dimplex Group, Haskris, Ingersoll Rand, Johnson Thermal Systems, KKT chillers, Laird Thermal Systems, and Legacy Chillers.