Europe
Medical Equipment Cooling Market Size and Growth Rate:
The Europe medical equipment cooling market
is forecasted to reach USD 104 million by 2024 from USD 72 million in 2019, at
a CAGR of 17.02%.
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Europe
Medical Equipment Cooling Market Overview:
Medical cooling systems are used to reduce
the heat load generated by medical equipment through diagnostic procedures. By
doing this, the orders are able to maintain the life cycle of imaging equipment
and help reach the goal of quality patient care.
The air-based cooling section of the
medical equipment cooling market is expected to increase at a higher CAGR
during the forecast period. The high growth of this part can be attributed to
its lower cost and the risk of failure associated with air-based cooling.
Europe
Medical Equipment Cooling Market Growth Drivers and Restraints:
Growth in this regional market is mainly
driven by factors such as the economic benefits given by cooling systems,
technological improvements in diagnostic imaging modalities, rising geriatric
population, and rising incidence of cancer. But, the risk of corrosion in
cooling systems is a major factor that is expected to stimulate the growth of
this market during the forecast period.
Most market researchers think that growth
in this sector will be driven by a variety of factors. These include reliable
patient care and economic advantages offered by medical chillers, technological
improvements in medical chillers, government initiatives to increase the number
of hospitals, and growing elderly population coupled with the growing
prevalence of chronic diseases.
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Water-cooled medical cooling systems are
having benefits such as low compressor costs, greater life span, less noise,
fitness for facilities with small space and restricted air flow, and lack of
toxic refrigerants. However, the trend is quickly shifting towards adoption of
air-cooled medical cooling systems. Their increasing efficiency and mounting
shortage of water across Europe are two of the major driving factors for the
shift in the trend.
Europe
Medical Equipment Cooling Market Geographical Segmentation:
Europe estimated for the second-largest
share of the world market in 2018. The rising incidence of cancer, growing
geriatric population, the increasing healthcare expenditure, the need for early
diagnosis, and the improved adoption of advanced systems are the major factors
driving the demand for medical equipment cooling in Europe.
Key
Players of the Europe Medical Equipment Cooling Market:
The key players in this market include
Laird Technologies, Inc., KKT Chillers, Cold Shot Chillers, General Air
Products, Inc.,Lytron, Inc., Motivair Corporation, Drake Refrigeration, Inc.,
Parker Hannifin Corp, Johnson Thermal Systems, and others.
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