Medical Equipment Cooling Market - By Product Type (Liquid & Air-Based), Compressor (Scroll, Screw, Centrifugal) Configuration (Packaged, Modular, Split), Application (Medical Device, Dehumidification, Cold Storage), End-use – Global Forecast, 2024 – 2032

Medical Equipment Cooling Market - By Product Type (Liquid & Air-Based), Compressor (Scroll, Screw, Centrifugal) Configuration (Packaged, Modular, Split), Application (Medical Device, Dehumidification, Cold Storage), End-use – Global Forecast, 2024 – 2032

Medical Equipment Cooling Market Size

Medical Equipment Cooling Market size was valued at around USD 343.9 million in 2023 and is estimated to register over 4.5% CAGR between 2024 and 2032. This robust market growth can be attributed to various factors, including ongoing advancements in medical device technology, surging prevalence of stress chronic diseases, an uptick in the need for medical imaging equipment, a surge in demand for sophisticated cooling systems, and the growing adoption of telemedicine and remote monitoring, among other contributing factors.
 

Moreover, the prevalence of chronic diseases including cancer, neurological disorders, and cardiovascular ailments are rising worldwide. This surge fuels the demand for diagnostic and therapeutic equipment like catheterization labs, heart monitors, and radiation treatment machines, all reliant on efficient cooling systems.
 

For instance, according to American Heart Association, ischemic heart disease (IHD) affected around 244 million individuals globally in 2020, with men comprising 141 million and women 103 million. Similarly, as per the American Cancer Society, Inc. over 1.9 million new cancer cases was diagnosed in the U.S. in 2023.
 

Furthermore, there is a continuous focus on developing innovative cooling solutions that are energy-efficient, environmentally friendly, and cost-effective. Advancements in areas such as thermal management, heat dissipation techniques, and refrigeration technology contribute to the evolution of more sophisticated cooling systems tailored to the unique requirements of medical equipment, thereby contributing to the medical equipment cooling market progress.
 

Medical equipment cooling refers to the process of regulating the temperature of medical devices and equipment to ensure optimal performance, longevity, and safety in healthcare settings. It involves the implementation of cooling systems and technologies designed to dissipate heat generated by various medical equipment, such as imaging devices (MRI, CT scans), radiation therapy machines, surgical instruments, and diagnostic equipment.
 

Medical Equipment Cooling Market Trends

The medical equipment cooling sector is undergoing significant transformations driven by noteworthy trends shaping its trajectory. These include ongoing technological advancements in thermal management technologies, a heightened demand for more efficient cooling solutions tailored to medical equipment, an increase in the requirement for portable and point-of-care testing devices, and a rising adoption of smart cooling technologies. These factors collectively propel the industry towards growth and development.
 

• Further, the growing trend towards portable and point-of-care medical devices are driving the need for compact and lightweight cooling solutions. These devices, such as portable ultrasound machines, handheld diagnostic devices, and wearable health monitors, require efficient cooling to maintain optimal performance while minimizing size and weight constraints. As a result, there is an increasing demand for miniaturized cooling systems that can be integrated into small form factor medical devices.
   
• Moreover, the demand for more efficient cooling solutions for medical equipment is driving the integration of advanced thermal management technologies. These include heat pipes, vapor chambers, thermoelectric coolers, and phase change materials. These technologies offer improved heat dissipation, temperature control, and energy efficiency, allowing medical devices to operate reliably in diverse clinical environments.
   

Medical Equipment Cooling Market Analysis

The market by product type is categorized into liquid-based cooling, and air-based cooling. The liquid-based cooling segment garnered USD 289.2 million revenue in 2023.
 

• Liquid-based cooling systems offer superior heat dissipation efficiency compared to traditional air-cooled systems. Liquid coolant has a higher heat capacity and thermal conductivity than air, allowing it to absorb and carry away heat more effectively from heat-generating components in medical equipment such as MRI systems, CT scanners, and radiation therapy devices. This enables medical devices to operate at optimal temperatures, ensuring consistent performance and reliability.
   
• Additionally, it offer advantages in terms of compact design and space efficiency, making them well-suited for integration into medical devices with limited space constraints. Unlike bulky air-cooled heat sinks and fans, liquid cooling components can be configured in compact form factors and integrated directly into the device chassis, allowing for more efficient use of space, and enabling the development of smaller, more portable medical devices.
   

Based on compressor, the medical equipment cooling market is segmented into reciprocating compressors, scroll compressors, screw compressors, and centrifugal compressors. The reciprocating compressors segment accounted for 45.3% business share in 2023 and is anticipated to witness significant growth during the forecast period.
 

• Reciprocating compressors are well-known for their robust design and long-term reliability. They have been designed to offer continuous operation under varied loads, making them ideal for medical equipment that requires constant cooling, such as MRI machines, CT scanners, and laboratory freezers. The endurance of reciprocating compressors assures continuous performance and reduces the danger of downtime or equipment failure, which is vital in healthcare contexts where dependability is required.
   
• Moreover, these compressors are highly efficient in converting electrical energy into mechanical energy, resulting in optimal cooling performance and energy savings. They are capable of delivering high compression ratios and operating efficiencies across a wide range of operating conditions, making them suitable for medical equipment cooling applications with varying cooling demands. The high efficiency of reciprocating compressors helps healthcare facilities reduce energy consumption, lower operating costs, and achieve sustainability goals while delivering reliable cooling solutions for medical devices.
   

Based on configuration, the medical equipment cooling market is segmented into packaged systems, modular systems, and split systems. The packaged systems segment dominated the market and accounted for 67.2% business share in 2023.
 

• Packaged systems are designed to be compact and space-efficient, making them well-suited for medical equipment applications with limited space constraints. Their integrated design consolidates multiple components into a single unit, minimizing the footprint of the cooling system and maximizing available space within medical devices and facilities. The space efficiency of packaged systems enables medical equipment manufacturers to design smaller, more portable devices without compromising cooling performance or functionality.
   
• Additionally, these systems are engineered to deliver optimized performance and reliability in medical equipment cooling applications. They are designed to meet stringent performance requirements and provide consistent cooling capacity across a wide range of operating conditions. The integrated components undergo rigorous testing and quality control measures to ensure reliable operation and long-term durability, minimizing the risk of equipment failure and downtime in critical healthcare settings, thereby fostering segmental growth in the market.
   

Based on application, the medical equipment cooling market is segmented into medical devices, cold storage and testing, dehumidification, and analytical & laboratory equipment. The medical devices segment accounted for majority revenue share and was valued at around USD 153.5 million revenue in 2023.
 

• Medical imaging devices such as MRI (Magnetic Resonance Imaging), CT (Computed Tomography), PET (Positron Emission Tomography), and ultrasound machines are essential for diagnosis, treatment planning, and monitoring of various medical conditions.
   
• These devices generate significant amounts of heat during operation, necessitating effective cooling solutions to maintain optimal performance and image quality. The continuous advancements in medical imaging technology drive the demand for innovative cooling systems that can dissipate heat efficiently and ensure reliable operation of imaging equipment.
   
• Moreover, minimally invasive surgical procedures have gained popularity due to their reduced recovery times, lower risk of complications, and improved patient outcomes compared to traditional open surgeries. Medical devices used in minimally invasive procedures, such as endoscopes, laparoscopic instruments, and surgical lasers, require efficient cooling to maintain safe operating temperatures and prevent overheating during prolonged use. The increasing demand for minimally invasive procedures drives the need for compact, lightweight, and high-performance cooling solutions that can support advanced surgical technologies.
   

The medical equipment cooling market by end-use is categorized into original equipment manufacturers (OEMs), hospitals, diagnostic laboratories, and other end-users. The original equipment manufacturers (OEMs) segment accounted for around USD 157.7 million revenue size in 2023.
 

• OEMs are driven by the need to innovate and develop cutting-edge cooling solutions that meet the evolving requirements of medical equipment. With advancements in medical device technology, there is a constant demand for more efficient, reliable, and compact cooling systems. OEMs invest in research and development to integrate advanced technologies such as liquid cooling, thermoelectric cooling, and smart cooling controls into their products to enhance performance, energy efficiency, and reliability.
   
• Additionally, OEMs are focused on providing customized solutions tailored to the unique requirements of medical devices and applications. They work closely with medical equipment manufacturers to understand their specific cooling needs and integrate cooling systems seamlessly into their products. OEMs offer a wide range of cooling solutions that can be customized in terms of cooling capacity, form factor, and compatibility with different medical devices, ensuring optimal performance and reliability in diverse clinical settings.
   

North America medical equipment cooling market accounted for USD 134.5 million revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• North America is home to some of the world's leading medical device manufacturers, research institutions, and technology innovators. The region continuously experiences technological advancements in medical equipment, including diagnostic imaging systems, surgical instruments, and laboratory devices.
   
• These advanced medical technologies generate substantial heat during operation, necessitating efficient cooling solutions to maintain optimal performance and reliability. The drive for continuous innovation in medical equipment technology fuels the demand for cutting-edge cooling systems in North America.
   
• Furthermore, the region has one of the highest healthcare expenditures globally, driven by factors such as aging demographics, increasing prevalence of chronic diseases, and technological advancements in healthcare delivery. Healthcare providers in the region invest significantly in upgrading medical facilities, acquiring advanced medical equipment, and adopting innovative cooling solutions to enhance patient care outcomes and operational efficiency.
   
• The growing healthcare expenditure in North America contributes to the demand for reliable and efficient cooling systems that support the operation of sophisticated medical devices.
   

Medical Equipment Cooling Market Share

The medical equipment cooling industry is competitive in nature, with several large, small, and mid-sized companies competing in the industry. These companies focus on product innovation, research and development, strategic collaboration to gain a competitive edge. Some of the leading industry players including Drake Refrigeration Inc., Glen Dimplex Group, Laird Thermal Systems, Inc, Lytron Chillers among others have a notable presence in the market.
 

Medical Equipment Cooling Market Companies

Some of the eminent market participants operating in the medical equipment cooling industry include

• American Chillers
• Drake Refrigeration Inc.
• Filtrine
• General Air Products
• Glen Dimplex Group
• Haskris
• Johnson Thermal Systems
• KKT chillers
• Laird Thermal Systems, Inc
• Legacy Chillers, Inc.
• Lytron Chillers
• Motivair Corporation
   

Medical equipment cooling market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

Click here to Buy Section of this Report

Market, By Product Type

• Liquid-based cooling
• Air-based cooling

Market, By Compressor

• Reciprocating compressors
• Scroll compressors
• Screw compressors
• Centrifugal compressors

Market, By Configuration

• Packaged systems
• Modular systems
• Split systems

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 
• Cold storage and testing
• Dehumidification
• Analytical & laboratory equipment

Market, By End-use

• Original equipment manufacturers (OEMs)
• Hospitals
• Diagnostic laboratories
• Other end-users

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa