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Medical Cooling System Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

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    Report

  • 255 Pages
  • November 2019
  • Region: Global
  • Allied Market Research
  • ID: 4989512
The global medical cooling system market was valued at $610.3 in 2018 and is expected to reach $828.8 million by 2026, registering a CAGR of 3.9% from 2019 to 2026. Medical cooling systems are widely used to lower down the heat load produced by medical equipment. It is used in variety of medical applications including imaging, lasers, cold storage & testing, and healthcare dehumidification. In addition, heat reduction from medical devices is needed to reduce thermal stress that can otherwise affect the system because, these devices are used primarily in hospitals, clinics, and centers for diagnostic imaging. However, reducing the medical equipment thermal stress increases the device’s life and helps maintain the reliability.





The major factors that drive the market growth include economic benefits offered by medical chillers, technological advancements that help maintain the equipment in good working condition and achieve the healthcare organization’s objective of quality patient care, and rise in prevalence of chronic diseases. In addition, increasing usage of diagnostic devices, laser treatment, and imaging system is estimated to propel the market growth of medical cooling system in the near future. However, high cost of medical imaging systems hinders the growth of this market.

The medical cooling system market is segmented on the basis type, application, and end user. By type, it is bifurcated into liquid based cooling and air-based cooling. By application, it is segmented into medical imaging systems, medical lasers, analytical & laboratory equipment, and others. On the basis of end user, it is categorized into original equipment manufacturer (OEMs), hospitals and clinics, diagnostic imaging centers, and others end users. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
  • The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.

KEY MARKET SEGMENTS

By Type
  • Liquid based cooling
  • Air based cooling

By Application
  • Medical imaging system
  • Medical lasers
  • Analytical and laboratory equipment
  • Others

By End-user
  • Original equipment manufacturer (OEMs)
  • Hospitals and clinics
  • Diagnostic imaging centers
  • Other end users

By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Middle East
  • Africa
  • Rest of LAMEA

LIST OF KEY PLAYERS PROFILED IN THE REPORT
  • American Chillers
  • Cold Shot Chillers
  • Drake Refrigeration, Inc.
  • Filtrine Manufacturing Company
  • General Air Types, Inc.
  • Parker Hannifin Corp.
  • Johnson Thermal Systems
  • KKT Chillers
  • Glen Dimplex Group
  • Lytron Inc.
Frequently Asked Questions about the Global Medical Cooling System Market

What is the estimated value of the Global Medical Cooling System Market?

The Global Medical Cooling System Market was estimated to be valued at $610.27 million in 2018.

What is the growth rate of the Global Medical Cooling System Market?

The growth rate of the Global Medical Cooling System Market is 3.9%, with an estimated value of $828.8 million by 2026.

What is the forecasted size of the Global Medical Cooling System Market?

The Global Medical Cooling System Market is estimated to be worth $828.8 million by 2026.

Who are the key companies in the Global Medical Cooling System Market?

Key companies in the Global Medical Cooling System Market include American Chillers, Cold Shot Chillers, Drake Refrigeration Inc., Filtrine Manufacturing Company, General Air Types Inc., Parker Hannifin Corp, Johnson Thermal Systems, KKT Chillers and Lytron Inc..

Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models
Chapter 2: Executive Summary
2.1. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.1.1. Key Market Segments
3.1.2. Top Investment Pockets
3.2. Top Player Positioning, 2018
3.3. Porters Five Forces Analysis
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Rise In Awareness Towards Uses Of Medical Cooling System By Medical Practitioners
3.4.1.2. Technological Advancements In Medical Cooling Devices
3.4.1.3. Rise In Geriatric Population
3.4.2. Restraints
3.4.2.1. Risk Of Corrosion In Cooling Systems
3.4.3. Opportunities
3.4.3.1. Untapped Developing Economies
Chapter 4: Medical Cooling Systems Market, By Type
4.1. Overview
4.1.1. Market Size And Forecast
4.2. Liquid-Based Cooling
4.2.1. Key Market Trends And Opportunities
4.2.2. Market Size Ad Forecast
4.2.3. Market Analysis, By Country
4.3. Air-Based Cooling
4.3.1. Key Market Trends And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis, By Country
Chapter 5: Medical Cooling Systems Market, By Application
5.1. Overview
5.1.1. Market Size And Forecast, By Application
5.2. Medical Imaging Systems
5.2.1. Market Size And Forecast, By Region
5.2.2. Market Analysis, By Country
5.3. Medical Lasers
5.3.1. Market Size And Forecast, By Region
5.3.2. Market Analysis, By Country
5.4. Analytical & Laboratory Equipment
5.4.1. Market Size And Forecast, By Region
5.4.2. Market Analysis, By Country
5.5. Others
5.5.1. Market Size And Forecast, By Region
5.5.2. Market Analysis, By Country
Chapter 6: Medical Cooling Systems Market, By End User
6.1. Overview
6.1.1. Market Size And Forecast
6.2. Original Equipment Manufacturers (Oems)
6.2.1. Market Size And Forecast, By Region
6.2.2. Market Analysis, By Country
6.3. Hospitals & Clinics
6.3.1. Market Size And Forecast, By Region
6.3.2. Market Analysis, By Country
6.4. Diagnostic Imaging Centers
6.4.1. Market Size And Forecast, By Region
6.4.2. Market Analysis, By Country
6.5. Others
6.5.1. Others Market Size And Forecast, By Region
6.5.2. Market Analysis, By Country
Chapter 7: Medical Cooling Systems Market, By Region
7.1. Overview
7.1.1. Market Size And Forecast
7.2. North America
7.2.1. Key Market Trends, Growth Factors, And Opportunities
7.2.2. Market Size And Forecast, By Country
7.2.2.1. U.S. Medical Cooling Systems Market, By Type
7.2.2.2. U.S. Medical Cooling Systems Market, By Application
7.2.2.3. U.S. Medical Cooling Systems Market, By End User
7.2.2.4. Canada Medical Cooling Systems Market, By Type
7.2.2.5. Canada Medical Cooling Systems Market, By Application
7.2.2.6. Canada Medical Cooling Systems Market, By End User
7.2.2.7. Mexico Medical Cooling Systems Market, By Type
7.2.2.8. Mexico. Medical Cooling Systems Market, By Application
7.2.2.9. Mexico Medical Cooling Systems Market, By End User
7.2.3. North America Medical Cooling Systems Market, By Type
7.2.4. North America. Medical Cooling Systems Market, By Application
7.2.5. North America Medical Cooling Systems Market, By End User
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, And Opportunities
7.3.2. Market Size And Forecast, By Country
7.3.2.1. Germany Medical Cooling Systems Market, By Type
7.3.2.2. Germany Medical Cooling Systems Market, By Application
7.3.2.3. Germany Medical Cooling Systems Market, By End User
7.3.2.4. France Medical Cooling Systems Market, By Type
7.3.2.5. France Medical Cooling Systems Market, By Application
7.3.2.6. France Medical Cooling Systems Market, By End User
7.3.2.7. UK Medical Cooling Systems Market, By Type
7.3.2.8. UK Medical Cooling Systems Market, By Application
7.3.2.9. UK Medical Cooling Systems Market, By End User
7.3.2.10. Italy Medical Cooling Systems Market, By Type
7.3.2.11. Italy Medical Cooling Systems Market, By Application
7.3.2.12. Italy Medical Cooling Systems Market, By End User
7.3.2.13. Rest Of Europe Medical Cooling Systems Market, By Type
7.3.2.14. Rest Of Europe Medical Cooling Systems Market, By Application
7.3.2.15. Rest Of Europe Medical Cooling Systems Market, By End User
7.3.3. Europe Market Size And Forecast, By Type
7.3.4. Europe Market Size And Forecast, By Application
7.3.5. Market Size And Forecast, By End User
7.4. Asia-Pacific
7.4.1. Key Market Trends And Opportunities
7.4.2. Market Size And Forecast, By Country
7.4.2.1. Japan Medical Cooling Systems Market, By Type
7.4.2.2. Japan Medical Cooling Systems Market, By Application
7.4.2.3. Japan Medical Cooling Systems Market, By End User
7.4.2.4. China Medical Cooling Systems Market, By Type
7.4.2.5. China Medical Cooling Systems Market, By Application
7.4.2.6. China Medical Cooling Systems Market, By End User
7.4.2.7. Rest Of Asia-Pacific Medical Cooling Systems Market, By Type
7.4.2.8. Rest Of Asia-Pacific Medical Cooling Systems Market, By Application
7.4.2.9. Rest Of Asia-Pacific Medical Cooling Systems Market, By End User
7.4.3. Asia-Pacific Market Size And Forecast, By Type
7.4.4. Asia-Pacific Market Size And Forecast, By Application
7.4.5. Market Size And Forecast, By End User
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, And Opportunities
7.5.2. Market Size And Forecast, By Country
7.5.2.1. Brazil Medical Cooling Systems Market, By Type
7.5.2.2. Brazil Medical Cooling Systems Market, By Application
7.5.2.3. Brazil Medical Cooling Systems Market, By End User
7.5.2.4. Saudi Arabia Medical Cooling Systems Market, By Type
7.5.2.5. Saudi Arabia Medical Cooling Systems Market, By Application
7.5.2.6. Saudi Arabia Medical Cooling Systems Market, By End User
7.5.2.7. Rest Of LAMEA Medical Cooling Systems Market, By Type
7.5.2.8. Rest Of LAMEA Medical Cooling Systems Market, By Application
7.5.2.9. Rest Of LAMEA Medical Cooling Systems Market, By End User
7.5.3. LAMEA Market Size And Forecast, By Type
7.5.4. LAMEA Market Size And Forecast, By Application
7.5.5. LAMEA Market Size And Forecast, By End User
Chapter 8: Company Profiles
8.1. Allergan Plc
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Type Portfolio
8.1.5. Business Performance
8.1.6. Key Strategic Moves And Developments
8.2. Bausch Health Companies Inc.
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Type Portfolio
8.2.5. Business Performance
8.3. Candela Medical
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Type Portfolio
8.4. Hologic, Inc.
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Type Portfolio
8.4.5. Business Performance
8.4.6. Key Strategic Moves And Developments
8.5. Energist Medical Group
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Type Portfolio
8.6. Fotona, Inc.
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Type Portfolio
8.7. Lumenis, Ltd.
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Type Portfolio
8.7.5. Key Strategic Moves And Developments
8.8. Lutronic, Inc.
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Type Portfolio
8.8.5. Business Performance
8.9. Sisram Medical Ltd.
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Type Portfolio
8.9.5. Business Performance
8.9.6. Key Strategic Moves And Developments
8.10. Sciton, Inc.
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Type Portfolio
8.10.5. Key Strategic Moves And Developments
*Full List of Tables and Figures Available on Enquiry.

Executive Summary

According to the report titled, 'Medical Cooling System Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global medical cooling system market size is expected to reach $828 million by 2026, registering a CAGR of 3.9% from 2019 to 2026, in terms of value.

Medical cooling systems serve the purpose of condensing the heat load produced by different medical equipment such as medical lasers, imaging systems, and others. These systems enhance the life cycle of the equipment by reducing their heat load. Further, these devices are being utilized by various hospitals, clinics, and diagnostic centers. The main benefits of these devices include reduction of device surface temperature for patient contacting surfaces, increased life span of medical equipment, and faster thermal cycling. In addition, medical cooling system is an important equipment for clinical applications. Ensuring temperature-sensitive medical devices are appropriately safeguarded is necessary to maintain patient safety, support regulatory compliance, and prevent economic loss.

The major factors driving the medical cooling systems market growth include surge in number of hospitals and diagnostic centers in the developing nations and increase in usage of these devices in medical fields to cool down the sensitive instruments such as MRI, lasers and others. However, increased risk of corrosion in medical cooling system and high cost of these devices is anticipated to hamper the market growth. Moreover, significant focus by the governments of developing economies toward improvement in healthcare infrastructure is predicted to create lucrative opportunities in the near future. With increase in medical tourism in developing economies the usage of medical equipment has also increased significantly. In addition, with increase in affordability in developing countries, there is an increase in preference toward a better quality of life. This leads to an increased penetration rate of medical cooling systems in the developing countries, such as India and China.

By type, the liquid-based cooling segment dominated the medical equipment cooling market trend in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to the advantages offered by these systems including consistent energy efficiency and better cooling abilities that help avoid damage to the medical equipment.

Based on medical cooling system market analysis, by application, the medical imaging systems segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to the increased usage of these devices in medical imaging systems such as MRI, CT scan, and others.

North America accounted for the majority of the global medical cooling system market share in 2018 and is anticipated remain dominant during the forecast period. This is attributed to surge in use and ease of availability of these systems in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period, owing to increased disposable income in developing economies such as India, China, and rise in awareness regarding medical laser technology.

Key Finding of The Medical Cooling System Market:
By type, the liquid-based technology segment accounted for the highest market share of 77% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
By region, North America was the major shareholder and accounted for the highest share of 38% in 2018.
Based on application, the medical imaging system segment is expected to grow at a CAGR of 4.5% during the forecast period.
The report provides an extensive competitive analysis and profiles of the key market players such as American Chillers, Cold Shot Chillers, Drake Refrigeration, Inc., Filtrine Manufacturing Company, General Air Types, Inc., Parker Hannifin Corp, Johnson Thermal Systems, KKT Chillers, Glen Dimplex Group and Lytron Inc.

Companies Mentioned

  • American Chillers
  • Cold Shot Chillers
  • Drake Refrigeration Inc.
  • Filtrine Manufacturing Company
  • General Air Types Inc.
  • Parker Hannifin Corp
  • Johnson Thermal Systems
  • KKT Chillers
  • Glen Dimplex Group
  • Lytron Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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