Medical Equipment Cooling Market Forecasts Growth from $0.63B (2026) to $0.82B by 2031, Profiling Parker Hannifin, Daikin, Thermo Fisher & Boyd Corporation

The global medical equipment cooling market is projected to grow from USD 0.68 billion in 2026 to USD 0.84 billion by 2031, at a 4.4% CAGR. Growth is driven by advanced diagnostic, laboratory and life science equipment, rising healthcare investment, biobanking, chronic diseases and smart, energy-efficient cooling. Ultra-low temperature freezers led in 2025, while hospitals and transfusion centers will see significant growth. The US is set to record North America’s highest CAGR, supported by biologics, cell and gene therapy, and IoT-enabled refrigeration.

Dublin, Sept. 24, 2026 (GLOBE NEWSWIRE) -- "Medical Equipment Cooling Market by Type, End User - Global Forecast to 2031" has been added to ResearchAndMarkets.com's offering.

The global medical equipment cooling market is projected to grow from USD 0.68 billion in 2026 to USD 0.84 billion by 2031, registering a compound annual growth rate of 4.4% during the forecast period. Market expansion is being supported by the increasing adoption of advanced diagnostic imaging, laboratory, radiotherapy, and life sciences equipment requiring precise thermal management for safe, reliable, and compliant operation.

Rising healthcare expenditure, the growing prevalence of chronic diseases, and continued expansion of pharmaceutical and biotechnology research are strengthening demand for medical refrigeration and cooling equipment. Additional growth opportunities are emerging from healthcare infrastructure development, hospital modernization, expanding biobanking activities, and the adoption of energy-efficient cooling systems equipped with smart temperature monitoring.

Despite favorable market conditions, high installation and maintenance costs remain significant restraints. Manufacturers and end users must also address stringent healthcare and environmental regulations, uninterrupted cooling requirements, limited technical resources, and the need for trained personnel capable of maintaining specialized equipment.

Ultra-Low Temperature Freezers Led the Market in 2025

Based on product, ultra-low temperature freezers accounted for the largest share of the medical equipment cooling market in 2025. Their market leadership reflects their essential role in preserving highly temperature-sensitive biological materials, including plasma, plasma-derived medicinal products, blood components, vaccines, cell and gene therapy samples, and other biomaterials.

Ultra-low temperature freezers can maintain temperatures as low as -86C, helping prevent biological degradation and preserve product potency during long-term storage. Demand is supported by widespread deployment across blood banks, plasma fractionation facilities, hospitals, pharmaceutical and biotechnology companies, and research laboratories.

Stringent biological sample storage requirements, increasing plasma collection volumes, and sustained investments in biobanking and life sciences research are expected to reinforce the segment's leading position. Rising use of immunoglobulins and other plasma products, alongside increasing demand for plasma-derived medicinal products used in chronic disease treatment, will further support the need for dependable temperature-controlled storage.

Hospitals and Transfusion Centers to Record Significant Growth Through 2031

By end user, the hospitals and transfusion centers segment is projected to register a significant CAGR between 2026 and 2031. Growth is primarily attributable to the high volume of blood transfusions, emergency care cases, surgical procedures, trauma management, and chronic disease treatments performed at these facilities.

Hospitals and transfusion centers depend on reliable refrigeration and freezing systems to store whole blood, plasma, platelets, cryoprecipitate, and other blood components while maintaining quality and therapeutic efficacy. Rising hospitalization rates, increasing surgical volumes, growing demand for oncology and transplant procedures, and expanding transfusion services are accelerating the adoption of advanced medical cooling equipment.

Regulatory requirements governing blood storage, continuous temperature monitoring, and product traceability are also supporting sustained demand. Healthcare providers are increasingly prioritizing systems that strengthen operational continuity, regulatory compliance, and the security of temperature-sensitive inventories.

United States to Post the Highest CAGR in North America

The United States is expected to record the highest CAGR in the North American medical equipment cooling market during the forecast period. It also contributes the largest regional share, supported by a strong concentration of pharmaceutical manufacturing, biologics production, and plasma fractionation facilities requiring highly reliable temperature-controlled equipment.

Extensive investment in biobanking, regenerative medicine, and cell and gene therapy research continues to drive demand for ultra-low temperature storage systems in the US. Early adoption of smart refrigeration technologies, including IoT-enabled temperature monitoring, remote diagnostics, and predictive maintenance, is improving operational efficiency, equipment uptime, and compliance.

The country also benefits from established cold chain logistics networks, replacement demand for aging refrigeration infrastructure, and continuous procurement of PREMIUM laboratory cooling equipment by healthcare and research organizations. Government support for cold chain infrastructure development and the rapid expansion of plasma fractionation centers present additional market opportunities.

Competitive Landscape

Prominent companies operating in the global medical equipment cooling market include Thermo Fisher Scientific , Inc. of the US; Haier Biomedical, part of Haier Group, of China; Avantor, Inc. of the US; Eppendorf SE of Germany; Blue Star Limited of India; B Medical Systems, part of Azenta, of the US; Godrej and Boyce Manufacturing Co. Ltd. of India; Biolife Solutions of the US; Berlinger & Co. AG of Germany; and Vestfrost Solutions A/S of Denmark.

The competitive assessment examines market shares, growth strategies, product portfolios, service offerings, operational capacities, recent developments, investments, and market positioning. It also evaluates new product launches, product enhancements, anticipated technology trends, expanding markets, and diversification initiatives across the global medical equipment cooling industry.

Research Participant Profile

The supply-side primary research participant breakdown comprises:

• By company type: Tier 1 companies, 35%; Tier 2 companies, 40%; and Tier 3 companies, 25%.
• By designation: C-level executives, 45%; directors, 35%; and other participants, 20%.
• By region: North America, 27%; Europe, 25%; Asia Pacific, 30%; Latin America, 8%; and the Middle East and Africa, 10%.

Research Coverage and Strategic Insights

The report analyzes the medical equipment cooling market by product, end user, and region while estimating current market size and future growth potential. It includes company profiles, product and service offerings, recent industry developments, and key strategies adopted by leading market participants.

Market dynamics covered in the research include drivers such as rising use of immunoglobulins and other plasma products and increasing demand for plasma-derived medicinal products for chronic disease treatment. The analysis also addresses high capital investment requirements, shortages of trained personnel, limited equipment maintenance resources, and stringent government regulations.

The report provides market penetration analysis covering products offered by major companies; product innovation insights addressing launches and anticipated trends; market development analysis of high-growth opportunities by product, end user, and region; and market diversification coverage encompassing new products, geographic expansion, current advancements, and investments.

These findings can help established market leaders and new entrants assess revenue opportunities, understand the competitive landscape, strengthen market positioning, and develop effective go-to-market strategies. Stakeholders can also use the analysis to evaluate industry momentum and respond to the principal drivers, restraints, opportunities, and challenges influencing the global medical equipment cooling market through 2031.

Key Attributes:

Report Attribute	Details
No. of Pages	330
Forecast Period	2026 - 2031
Estimated Market Value (USD) in 2026	$0.68 Billion
Forecasted Market Value (USD) by 2031	$0.84 Billion
Compound Annual Growth Rate	4.4%
Regions Covered	Global

Key Topics Covered:

Market Dynamics
Drivers

• Rising Installation and Utilization of Advanced Diagnostic and Therapeutic Equipment
• Rising Burden of Chronic Diseases and Expanding Use of Advanced Medical Equipment
• Requirement for Reliable Equipment Cooling

Challenges

• High Installation, Customization, and Lifecycle Costs of Medical Cooling Systems
• Inadequate Electricity, Water, and Technical Infrastructure in Developing Markets
• Shortage of Specialized Cooling-System and Biomedical Maintenance Professionals

Case Studies Industry Trends Opportunities

• Transition Toward Energy-Efficient, Low-Gwp, and Intelligent Equipment-Cooling Systems
• Regulatory Transition Creating A Replacement and Retrofit Opportunity
• Innovation in Mri Cooling Technologies

Company Profiles

• Glen Dimplex Group
• Parker-Hannifin
• Thermo Fisher Scientific
• Daikin Industries Ltd.
• Smc Corporation
• Schneider Electric
• Filtrine
• Boyd Thermal
• General Air Products
• Ecochillers
• Kkt Chillers
• Legacy Chillers, Inc.
• Tark Thermal Solutions
• Drake Refrigeration
• Polyscience
• Haskris
• American Chillers
• Thermal Care
• Aspen Systems
• Whaley Products, Inc
• Julabo GmbH
• Lauda Scientific GmbH
• Peter Huber Kaltemaschinenbau SE
• Pfannenberg Group Holding
• Cold Shot Chillers

For more information about this report visit https://www.researchandmarkets.com/r/bjnp2b

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