Global medical equipment cooling market to hit USD 296M

The global medical equipment cooling market was valued at USD 200 million in the year 2020 and is anticipated to be worth USD 296 million by the year 2030 with a growing compound annual growth rate (CAGR) of more than 4% in the forecast period from 2021 to 2030.

Medical cooling systems are used during diagnostics examinations to reduce surplus heat by medical equipment this results in prolonging the life of medical equipment, producing high-quality imaging, and provide towards efficient patient care. Therefore, cooling systems are critical to the smooth operation of medical equipment.

Impact of Covid-19
Government bodies imposed several lockdowns, which resulted in temporary production halts or a reduction in workforce. Due to such sanctions, the global medical cooling market was negatively affected.

However, the Covid-19 pandemic also induced a rising demand for medical equipment such as ventilators, patient monitors, and other medical devices demand. In this way, the market can gradually grow post-pandemic with the aid of Covid-19-induced methods such as digital pathology and remote collection.

Regional insights
In terms of region, North America is the leading market for global medical equipment cooling systems, followed by Europe and Asia-Pacific.The well-established healthcare infrastructure in North America and the acceptance of enhanced and cutting-edge technologies, along with the rise in non-communicable diseases, all contribute to the market’s growth. Furthermore, Asia-Pacific and Latin America are promising markets and are forecasted to flourish during the forecast period.It is due to the growing economy of many countries, increasing focus on healthcare infrastructure and facilities by several governments, increasing cases of chronic illnesses, and increasing number of geriatric populations. Ocean