Medical Equipment Cooling Market Overview:
As per MRFR analysis, the Medical Equipment Cooling Market Size was estimated at 9.71 (USD Billion) in 2022. The Medical Equipment Cooling Market Industry is expected to grow from 10.33(USD Billion) in 2023 to 18.05 (USD Billion) by 2032. The Medical Equipment Cooling Market CAGR (growth rate) is expected to be around 6.4% during the forecast period (2024 - 2032).
Key Medical Equipment Cooling Market Trends Highlighted
Bacteria-free conditions are created and maintained in surgical operations theatres (OTs) and the increasing use of medical technology such as CTs and MRIs by healthcare systems has led to the development of the Medical Equipment Cooling Market. Clinicians also opt for sophisticated energy-based medical treatments that employ equipment that produces excessive heat, thereby increasing the need for active or passive cooling solutions. More so, the changing attitudes toward patient safety associated with the expansion of operating intervals of medical devices drive the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Medical Equipment Cooling Market Drivers
Advancements in Medical Technology
One of the key driving forces of the expansion of the medical equipment cooling market, in general, is the consistently increased demand for new medical equipment. The outstanding advancement of the healthcare industry relies on rapid technological evolution, which, in turn, prompts the design of more sophisticated and efficient medical devices and systems. The vast majority of innovative medical technologies designed and introduced into the market in recent years are accompanied by one crucial challenge.Specifically, these technologies create a large amount of heat. As the healthcare sector rapidly adopts new and more advanced imaging systems, surgical robots, and a range of other highly complex medical equipment, the demand for cooling systems that would be developed by manufacturers and offered to medical institutions will remain high.
Rising Prevalence of Chronic Diseases
Another important factor contributing to the growth of the global market of medical equipment cooling units is the increasing prevalence of chronic diseases. Such conditions as cardiovascular diseases, cancer, and diabetes require continuous and long-term monitoring and treatment, which involve the use of various medical instruments. Currently, many hospitals and clinics use such instruments as dialysis machines, infusion pumps, and different systems for monitoring patients in intensive care units, all of which produce substantial heat during work.Thus, in order to ensure the efficient functioning of medical equipment, many companies should develop reliable cooling solutions. The increased prevalence of chronic diseases is also expected to drive the demand for innovative medical equipment cooling systems in medical institutions.
Government Initiatives and Regulations
Impact on the Market Initiatives and regulations imposed by governments play an important role in dictating the developmental and growth rates of the medical equipment cooling market. At present, governments worldwide acknowledge the significance of healthcare infrastructure and are more focused on the enhancement of patient care. They promote the use and implementation of advanced medical technologies that help to ensure the safety of the patients and the effectiveness of the medical equipment.As a result, requirements concerning the safety of medical devices and patient safety have increased. The use of energy-efficient devices or devices integrated with alarms for maintenance is better encouraged. As such measures continue to be employed by the government, the necessity of cooling medical equipment grows.
Medical Equipment Cooling Market Segment Insights:
Medical Equipment Cooling Market Equipment Type Insights
The Medical Equipment Cooling Market is segmented by Equipment Type into Chillers, Heat Exchangers, Air Conditioners, Cooling Towers, Fans, and Blowers. Among these, Chillers held the largest market share in 2023, and is projected to dominate the market throughout the forecast period. Chillers are used to remove heat from medical equipment, such as MRI machines and CT scanners, which produce a tremendous amount of heat during operation. The growth of the Chillers segment can be attributed to the increasing demand for advanced medical equipment.Heat Exchangers are another important segment of the Medical Equipment Cooling Market. They are used to transfer heat from one fluid to another without mixing the two fluids. Heat Exchangers are used in medical equipment to cool down components, such as lasers and power supplies. The demand for Heat Exchangers is expected to increase in the upcoming years, due to the growing adoption of minimally invasive surgical procedures. One of the most common applications of Air Conditioners in medical facilities is to maintain a suitable temperature for patients and staff.Air Conditioners remove heat and humidity from the air, providing a more comfortable environment. The demand for Air Conditioners is expected to remain high in the Medical Equipment Cooling Market, due to the increasing number of hospitals and clinics around the world. Cooling Towers are another important segment of the Medical Equipment Cooling Market. They are used to remove heat from water or other fluids used in medical equipment. Cooling Towers are usually used in large medical facilities, such as hospitals and research centers. The demand for Cooling Towers is expected to be driven by the increasing need for energy-efficient cooling solutions.Fans and Blowers are used to circulate air in medical equipment and facilities. Fans and Blowers are used to cool down components, prevent overheating, and improve air quality. The demand for Fans and Blowers is anticipated to increase in the Medical Equipment Cooling Market, due to the increasing demand for medical equipment with enhanced cooling.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Medical Equipment Cooling Market Modality Insights
The Medical Equipment Cooling Market is segmented by Modality into Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, X-ray, and Nuclear Medicine. Among these segments, MRI is expected to hold the largest market share in 2023, followed by CT and Ultrasound. The growth of the MRI segment can be attributed to the increasing demand for high-quality imaging for diagnostic purposes. Additionally, the growing number of MRI installations in hospitals and clinics is contributing to the growth of this segment. The CT segment is also expected to witness significant growth over the forecast period.The increasing use of CT scans for cancer detection and other medical conditions is driving the growth of this segment. Ultrasound is another important segment, which is expected to grow due to its non-invasive nature and low cost. The X-ray segment is expected to witness steady growth, while the Nuclear Medicine segment is expected to grow at a slower pace.
Medical Equipment Cooling Market Application Insights
The Medical Equipment Cooling Market is expected to grow significantly in the coming years, driven by rising demand for advanced medical equipment and increasing healthcare expenditure. The market is segmented into various applications, including patient cooling, hospital room cooling, data center cooling, laboratory equipment cooling, and medical device cooling. Among these applications, patient cooling is expected to hold the largest market share in 2023, owing to the growing number of surgical procedures and the need for precise temperature control during surgeries.Hospital room cooling is another significant application segment, with hospitals increasingly investing in advanced cooling systems to ensure patient comfort and prevent infections. The growing demand for efficient and reliable cooling solutions in healthcare facilities is a key factor contributing to the market growth.
Medical Equipment Cooling Market Cooling Capacity Insights
The Cooling Capacity segment plays a crucial role in the Medical Equipment Cooling Market. It is categorized into four sub-segments: Up to 10 kW, 10-50 kW, 50-100 kW, and Over 100 kW. In 2023, the "Up to 10 kW" sub-segment held a dominant market share of around 45%. This dominance is attributed to the widespread use of small-sized medical equipment in various healthcare settings. The "10-50 kW" sub-segment is expected to witness significant growth during the forecast period, owing to the increasing adoption of mid-sized medical equipment such as MRI scanners and CT scanners.The "50-100 kW" and "Over 100 kW" sub-segments are projected to grow at a steady pace, driven by the rising demand for high-powered medical equipment in specialized healthcare facilities and research institutions. Overall, the Cooling Capacity segment is poised to witness substantial growth in the coming years, fueled by the increasing demand for efficient and reliable cooling solutions for medical equipment.
Medical Equipment Cooling Market Installation Type Insights
The Medical Equipment Cooling Market is segmented by installation type into Centralized, Decentralized, Portable, and Rack-mounted. Among these segments, the Centralized segment accounted for the largest share of the market in 2023. This is attributed to the advantages of centralized systems, such as improved efficiency, reliability, and scalability. However, the Decentralized segment is expected to grow at the highest CAGR during the forecast period (2024-2032). This growth is driven by the increasing adoption of decentralized systems in small and medium-sized healthcare facilities due to their lower cost and ease of installation.The Portable segment is also expected to grow at a significant rate during the forecast period, as it offers flexibility and convenience for use in various healthcare settings. The Rack-mounted segment is expected to have a moderate growth rate during the forecast period, as it is commonly used in data centers and other IT environments.
Medical Equipment Cooling Market Regional Insights
The regional segmentation of the Medical Equipment Cooling Market offers insights into the performance of the market across different geographic regions. North America dominated the market in 2023, accounting for a significant share of the Medical Equipment Cooling Market revenue. The region's advanced healthcare infrastructure, presence of leading medical equipment manufacturers, and high adoption of advanced cooling technologies contribute to its dominance. Europe holds the second-largest market share, driven by strict regulatory standards, government initiatives to improve healthcare facilities, and a growing geriatric population.APAC is projected to witness the fastest growth during the forecast period due to increasing healthcare expenditure, rising disposable income, and expanding medical tourism industry. South America and MEA represent emerging markets with untapped growth potential, offering opportunities for market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Medical Equipment Cooling Market Key Players And Competitive Insights:
Major players in the medical equipment cooling market industry are continuously working to develop advanced technologies to meet the demands of healthcare providers. Leading Medical Equipment Cooling Market players are focused on expanding their global presence and establishing strategic partnerships to gain a competitive advantage. The medical equipment cooling market is expected to witness significant growth in the coming years due to the increasing demand for medical equipment and the need for efficient cooling systems to extend their lifespan. The Medical Equipment Cooling Market Competitive Landscape is expected to remain competitive, with new entrants and established players vying for market share.Hillrom is a leading provider of medical equipment and cooling solutions. The company has a strong presence in the healthcare industry and offers a wide range of products, including medical beds, patient monitoring systems, and medical equipment cooling systems. Hillrom is committed to innovation and continuous improvement, and its products are designed to enhance patient safety and improve clinical outcomes.Another major player in the Medical Equipment Cooling Market is Modulair. The company is a global provider of cooling solutions for the healthcare industry and offers a range of products, including air handling units, chillers, and heat exchangers. Modulair is focused on providing energy-efficient and environmentally friendly solutions, and its products are designed to meet the specific needs of healthcare facilities.
Key Companies in the Medical Equipment Cooling Market Include:
Medical Equipment Cooling Market Industry Developments
The Medical Equipment Cooling Market is projected to reach a value of USD 18.05 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period (2024-2032). Rising demand for advanced medical equipment, increasing prevalence of chronic diseases, and growing healthcare expenditure are major factors driving market growth. Technological advancements, such as the development of compact and energy-efficient cooling systems, are further fueling market expansion. Key players in the market include Rittal, Schneider Electric, Airedale International Air Conditioning Ltd., and Coolcentric. Recent news developments include the launch of new products, such as the Vertiv™ Liebert DSE Data Center Cooling System, and strategic partnerships, such as the collaboration between Rittal and Emerson Network Power to provide integrated cooling solutions for healthcare facilities.
Medical Equipment Cooling Market Segmentation Insights
| Report Attribute/Metric |
Details |
| Market Size 2022 |
9.71(USD Billion) |
| Market Size 2023 |
10.33(USD Billion) |
| Market Size 2032 |
18.05(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.4% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Johnson Controls, Trane Technologies, LG Electronics, Gree Electric Appliances, Samsung Electronics, Lennox Industries, DAIKIN Industries, Mitsubishi Heavy Industries, Hitachi, Carrier, Haier Group, Schneider Electric, Toshiba Carrier Corporation, Midea Group, Emerson Electric |
| Segments Covered |
Equipment Type, Modality, Application, Cooling Capacity, Installation Type, Regional |
| Key Market Opportunities |
Technological Advancements Growing Healthcare Infrastructure Increased Awareness Expansion into Emerging Markets Focus on Patient Safety |
| Key Market Dynamics |
Rising healthcare expenditure, growing adoption of advanced medical devices, increasing demand for data centers in healthcare facilities, technological advancements and government initiatives |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Medical Equipment Cooling Market is estimated to be worth 10.33 Billion USD in 2023.
The Medical Equipment Cooling Market is expected to grow at a CAGR of 6.4% from 2024 to 2032.
North America is expected to hold the largest share of the Medical Equipment Cooling Market in 2023.
The Hospitals segment is expected to account for the largest share of the Medical Equipment Cooling Market in 2023.
Some of the key competitors in the Medical Equipment Cooling Market include Rittal, Vertiv, Schneider Electric, and Emerson.
The growth of the Medical Equipment Cooling Market is primarily driven by the increasing demand for medical equipment, the rising prevalence of chronic diseases, and the growing awareness of the importance of temperature control in healthcare settings.
Some of the challenges faced by the Medical Equipment Cooling Market include the high cost of medical equipment cooling systems, the need for specialized expertise to install and maintain these systems, and the stringent regulatory requirements that govern the healthcare industry.
Some of the key trends shaping the future of the Medical Equipment Cooling Market include the increasing adoption of cloud-based cooling solutions, the growing use of artificial intelligence (AI) to optimize cooling performance, and the development of more energy-efficient cooling technologies.
The Medical Equipment Cooling Market is projected to reach 18.05 Billion USD by 2032.
The Asia Pacific region is expected to witness the highest growth rate in the Medical Equipment Cooling Market from 2024 to 2032.
