This study involved four major activities in estimating the
current size of the Medical
Equipment Cooling Market. Exhaustive secondary research was done
to collect information on the market and its different sub-segments. 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 sub-segments.
Major Objectives
behind this Study:
# To define,
describe, and forecast the global medical equipment cooling market on the basis
of type, compressor, configuration, application, end user, and region
# To provide
detailed information regarding major factors influencing the growth of the
market (such as drivers, opportunities, and industry-specific challenges)
# To
strategically analyze the micromarkets with respect to individual growth
trends, future prospects, and contributions to the total market
# To analyze the
opportunities in the market for stakeholders and provide details of the
competitive landscape for market leaders
# To forecast the
revenue of the market segments with respect to four main regions, namely, North
America (the US and Canada), Europe (Germany, France, the UK, and RoE), Asia
Pacific (China, Japan, India, and RoAPAC), and the Rest of the World
# To
strategically profile the key players and comprehensively analyze their market
shares and core competencies
# To track and
analyze competitive developments such as new product launches; agreements,
partnerships, and joint ventures; mergers & acquisitions; and research
& development activities in the medical equipment cooling market
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Recent Developments
in the Global Industry:
# 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.
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?
Factors
Influencing Global Growth:-
Economic benefits offered by medical equipment cooling,
technological advancements in diagnostic imaging modalities are the major
factors driving the growth of this market. Additionally, the growing global
prevalence of cancer, increasing geriatric population, and growing number of
diagnostic centers and hospitals are some of the other major factors driving
the growth of this market.
Opportunities:
# Emerging Markets
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Challenge:
# Risk of Corrosion in
Cooling Systems
Monetary
Growth Expectations, Globally:
According to the Research Study conducted by MarketsandMarkets™:
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%.
Geographical Growth Scenario:
The medical equipment cooling market is segmented into four
regional segments, namely, North America, Europe, Asia Pacific, and the Rest of
the World. Asia Pacific region is expected to register highest growth during
the forecast period. The increasing awareness of optimal thermal management of
medical equipment, increase in healthcare expenditure, and rising geriatric
population are some of the major factors driving the growth of the medical
equipment cooling market in Asia Pacific.
Leading Market
Players:
# Glen Dimplex Group
(Ireland)
# Legacy Chiller Systems Inc.
(US)
# Filtrine Manufacturing
Company, Inc. (US)
# Laird Technologies, Inc.
(US)
# Cold Shot Chillers (US)
# KKT Chillers (Germany) and many more…
An analysis of the market
developments between 2016 and 2018 revealed that several growth strategies such
as product enhancements and expansions were adopted by market players to
strengthen their product portfolios and maintain a competitive position in the
medical equipment cooling market.
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