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Latin America Medical Equipment Cooling Market

Latin America Medical Equipment Cooling Market Analysis - By Type (Liquid-based cooling, Liquid-air heat transfer configuration, Air-based cooling), Based on type (Liquid-based cooling, Liquid-air heat, transfer configuration, Air-based cooling), By Configuration (Modular, Packaged, Split systems), By Region, Market Size, Growth, Trends, Insights and Opportunities to 20225

  • ID : 27915373  |  
  • Published : May-2019  |  
  • Region : Latin America  |  
  • Pages : 130   |  
  • Publisher : Research Cosmos

Latin America Medical Equipment Cooling Market Size and Growth Analysis

The Latin America medical equipment cooling market is forecasted to grow from an estimated USD 91 million in 2019 to USD 122 million by 2024, growing at a CAGR of 16.80% during the forecast period.

Latin America Medical Equipment Cooling Market Growth Drivers and Insights

Economic advantages offered by medical equipment cooling technological improvements in diagnostic imaging modalities are the major circumstances that drive the growth of this market. Additionally, the increasing global prevalence of cancer, increasing geriatric population, and an increasing number of diagnostic centers and hospitals are some of the other major circumstances driving the growth of this market.

Increasing incidence rates of cancer and rising technological improvements in diagnostic imaging modalities are the two main factors that are anticipated to fuel the market for medical equipment cooling in the Latin American region. The high price of implementation could be a potential restraint which can hinder the growth rate of this regional market.

Verified market research narrows down the possible data using primary sources to validate the data and practice it in compiling a full-fledged market study. This can be of great use in gaining awareness about cutting-edge technologies in the market.

Water-cooled medical cooling systems have been practiced since long. This is due to their benefits such as low compressor costs, greater life span, less noise, suitability for offices with small space and restricted air flow, and lack of toxic refrigerants. Nevertheless, the trend is rapidly shifting towards the selection of air-cooled medical cooling systems. Their growing performance and mounting shortage of water across the region are two of the main driving factors for the shift in the trend.

Active thermal management is recognized as an important component in a number of medical device purposes including patient core temperature management, medical device cooling, skin cooling, and laboratory equipment cooling. Medical equipment cooling is one such product that is booming in the healthcare industry. Cooling medical devices are anticipated to be compact, quiet, effective, and often must be placed inside the body of the medical system to keep intertwined wires and socks off the floor and out of the way of practitioners.

Latin America Medical Equipment Cooling Market – Segment Overview:

Based on type, the medical equipment cooling market in Latin America is divided into liquid-based cooling, liquid-air heat transfer configuration (liquid-liquid configuration, and compressor-based recirculating configuration) and air-based cooling (direct-air configuration and air-to-air configuration). The air-based cooling section of the market is expected to grow at a tremendous CAGR during the forecast period. The high growth of this section can be attributed to its lower cost and the risk of failure compared with air-based cooling.

Based on end user, the market is divided into hospitals, laboratories, and outpatient clinics; independent diagnostic & treatment centers and laboratories, original equipment manufacturers (OEMs); and others. The OEMs division accounted for the largest share of the regional market in 2018. The high share of this segment can be attributed to the growing usage and demand of devices such as lasers, diagnostic imaging systems, and LINAC to meet the growing prevalence of chronic diseases. Moreover, the availability of custom cooling solutions by companies to suit the specific requirement of medical equipment companies is adding significant growth possibilities to this end-user segment.

On the base of configuration, the medical equipment cooling market is further divided into modular, packaged, and split systems. The packaged systems division accounted for the largest share of the market in 2018. A significant advantage associated with these systems is that the ingredients are assembled at a factory, which reduces the need to design and install these systems. This advantage is a significant contributing factor to the larger market share of the packaged systems segment.

Latin America Medical Equipment Cooling Market Regional Analysis:

On the basis of geography, the Latin America Market is classified under various regions namely, Argentina, Brazil, and Mexico. All these regions are expected to witness tremendous applications of this medical equipment in the coming years.

Increasing preference for minimally invasive procedures, developing public-private funding and government support for cancer research, technological improvements in the field of interventional oncology, and expanding government investments and funding for interventional oncology and related cancer research are some of the main factors driving the growth of this market.

Latin America is expected to witness notable growth during the forecast period due to stimulated economic growth in many countries; increasing government focus on healthcare sector; increasing prevalence of chronic diseases; increasing number of hospitals & diagnostic centers; and increasing geriatric population in the region.

The medical equipment cooling market marks the presence of best players such as SKF, Parker Hannifin, Trelleborg AB, A.W. Chesterton Company, and IDEX Corporation. These companies manufacture and deliver a broad range of chillers and cooling solutions across the plastics, medical, food packaging, and semiconductor industries in the local and international marketplace.

This research report includes following segmentation for the Latin America Medical Equipment Cooling Market size and forecast 2018 - 2025

Based on type

  • Liquid-based cooling
  • Liquid-air heat transfer configuration
  • Air-based cooling

Based on type

  • Liquid-based cooling
  • Liquid-air heat transfer configuration
  • Air-based cooling

Based on Configuration

  • Modular
  • Packaged
  • Split systems

Latin America Medical Equipment Cooling Market – By Region

  • Brazil
  • Argentina
  • Mexico

  1. Introduction
  2. Research Methodology

    1. Analysis Design

      1. Research Phases
      2. Secondary Research
      3. Primary Research
      4. Expert Validation

    2. Study Timeline

  3. Overview

    1. Executive Summary
    2. Key Inferences
    3. New Developments

  4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

    1. Latin America Medical Equipment Cooling Market Drivers
    2. Latin America Medical Equipment Cooling Market Restraints
    3. Key Challenges
    4. Current Opportunities in the Latin America Medical Equipment Cooling Market

  5. Latin America Medical Equipment Cooling Market Segmentation

    1. Based on type

      1. Liquid-based cooling
      2. Liquid-air heat transfer configuration
      3. Air-based cooling

    2. Based on type

      1. Liquid-based cooling
      2. Liquid-air heat transfer configuration
      3. Air-based cooling

    3. By configuration

      1. Modular
      2. Packaged
      3. Split systems

  6. Geographical Analysis

      1. Brazil
      2. Argentina
      3. Mexico

  7. Strategic Analysis

    1. PESTLE analysis

      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental

    2. Porter’s five analysis

      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry

    3. Supply Chain Analysis

      1. Raw Material Suppliers
      2. Manufacturers/Producers
      3. Distributors/Retailers/Wholesalers/E-Commerce
      4. End Users

  8. Latin America Medical Equipment Cooling Market Leaders' Analysis

    1. SKF

      1. Product Analysis
      2. Strategic Evaluation and Operations
      3. Financial analysis
      4. Legal issues
      5. Recent Developments
      6. SWOT analysis
      7. Analyst View

    2. Parker Hannifin
    3. Trelleborg AB,
    4. A.W. Chesterton Company
    5. IDEX Corporation

  9. Competitive Landscape

    1. Latin America Medical Equipment Cooling Market share analysis
    2. Merger and Acquisition Analysis
    3. Agreements, collaborations and Joint Ventures
    4. New Product Launches

  10. Expert Opinions

    1. Latin America Medical Equipment Cooling Market Outlook
    2. Investment Opportunities

  11. Appendix

    1. List of Tables
    2. List of Figures

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