World News: 15:34 GMT Monday 27th May 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The medical equipment cooling market is projected to reach USD 232.9 million by 2024 from USD 193.1 million in 2019, at a CAGR of 3.8% from 2019 to 2024.
The growth of the medical equipment cooling market is mainly driven by the economic benefits offered by cooling systems. High heat generation can render equipment unusable and, thereby, severely affect overall productivity; as a result, the implementation of cooling systems is becoming a key area of focus for a number of healthcare providers, particularly given the rising incidence of cancer and other diseases and a growing geriatric population. Technological advancements have also contributed to market growth. Emerging markets such as China, India, Brazil, and South Africa are expected to offer lucrative growth opportunities to market players. However, the risk of corrosion in cooling systems is a key factor affecting the growth of the medical equipment cooling market.Emerging Asian countries, such as China, India, and Japan, are expected to offer high growth opportunities for market players during the forecast period. This regional segment is expected to register the highest CAGR of 4.4% from 2019 to 2024. The key factors driving the growth of the Asia Pacific market include increasing awareness of optimal thermal management of medical equipment, increase in healthcare expenditure, and rising geriatric population.In 2017, Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), and Filtrine Manufacturing Company, Inc. (US), accounted for a major share. Other key players in this market include 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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Related Topics: Medical Devices
Globe Newswire: 15:34 GMT Monday 27th May 2019
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