Medical Equipment Cooling Market – Emerging Trends & Global Future Forecasts

PUNE, India, 2021-Aug-17 — /EPR Network/ —

Overview of This Study:

This study involved four major activities in estimating the current size of the Medical Equipment Cooling Mechanism Market. Exhaustive secondary research was done to collect information on the market and its different subsegments.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.

Revenue Growth Expectations:

The medical equipment cooling market is projected to grow from an estimated USD 233 million in 2024 to USD 193 million by 2019, at a CAGR of 3.8% during the forecast period. Growth of the market is mainly driven by the economic benefits offered by cooling systems, rising incidence of cancer and other diseases, and growing geriatric population.

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Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the medical equipment cooling market.

Recent Developments in the Global Medical Equipment Cooling Mechanism Market:

• In 2018, Laird Technologies (US) enhanced its Tunnel Series TEA which offers an expanded line of cooling capacities ranging up to 100 watts.
• In 2016, KKT Chillers (Germany) established a new service center in Shanghai, China, to meet the increasing demand for chillers in the region.

Asia Pacific is expected to grow at the highest CAGR in the medical equipment cooling market during the forecast period.

The Asia Pacific region is one of the major revenue-generating regions in the medical equipment cooling market. China, India, and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing awareness of optimal Thermal Management of medical equipment, increase in healthcare expenditure, and rising geriatric population.

Key Questions Addressed by the Report:

• What are the growth opportunities related to the adoption of medical equipment cooling across major regions in the future?
• Emerging countries have immense opportunities for the growth and adoption of medical equipment cooling modalities. Will this scenario continue in the next five years?
• Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?

Key Market Players

Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), and Filtrine Manufacturing Company, Inc. (US). Other key players in Medical Equipment Cooling Mechanism 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), among others.

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Glen Dimplex is a leading player in the medical equipment cooling market. The company manufactures and delivers a wide range of chillers and cooling solutions across the medical, food packaging, plastics, and semiconductor industries in the US and internationally. Glen Dimplex offers active and passive cooling solutions either in integrated or stand-alone modes, for a wide range of medical equipment such as CT, MRI, linear accelerators, and medical laser technology. Along with high-quality products the company also offers a comprehensive range of tailored services to meet customer needs. The company has a global presence and a prominent after-sales service network, with locations across the US, China, Germany, and Ireland.

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