(PharmaNewsWire.Com, December 09, 2019 ) 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.
By compressor, the screw compressor segment is expected to grow at the highest CAGR in the medical equipment cooling market during the forecast period.
On the basis of the type of compressor, the medical equipment cooling market is further categorized into screw, scroll, centrifugal, and reciprocating compressors. The scroll compressors segment is expected to grow at the highest growth rate during the forecast period owing to factors such as decreased vibration levels and the lower risk of Refrigerant leakage associated with the use of screw compressors.
The packaged systems segment was the largest contributor to the medical equipment cooling market, by configuration in 2018
On the basis of configuration, the global medical equipment cooling market is further segmented into modular, packaged, and split systems. The packaged systems segment accounted for the largest share of the medical equipment cooling systems market in 2018. A major advantage associated with these systems is that the components are assembled at a factory, which eliminates the need to design and install these systems. This advantage is a major contributing factor to the large share of the packaged systems segment in the market.
By type, the liquid-based cooling segment was the largest contributor to the medical equipment cooling market in 2018.
Based on type, the market is further segmented into liquid-based cooling and air-based cooling. The liquid-based cooling segment accounted for the largest share of the medical equipment cooling market in 2018. The large share of this segment can be attributed to the advantages of liquid-based cooling systems, such as consistent & better energy efficiency and uniform cooling capabilities that prevent damage to sensitive equipment.
Asia Pacific to register highest growth in the medical equipment cooling market during the forecast period
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.
The major players operating in the medical equipment cooling market are 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), 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).
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