MarketsandMarkets projects the market will expand from $0.68 billion in 2026 at a 4.4% CAGR, with plasma freezers leading by share and Asia Pacific posting the fastest regional growth.
The medical equipment cooling market is projected to grow to USD 0.84 billion by 2031 from USD 0.68 billion in 2026, reflecting a 4.4% CAGR over the forecast period, according to a MarketsandMarkets report. The study says demand is being driven by wider use of high-power imaging systems, minimally invasive surgical platforms, and AI-enabled diagnostic equipment that create higher thermal loads, alongside rising demand for compact, portable, and home-based medical devices that require miniaturized and energy-efficient cooling solutions. Plasma freezers are identified as a leading product segment because of their role in preserving plasma for therapeutic, transfusion, and research uses, while ultra-low temperature freezers are expected to register a 4.6% CAGR between 2026 and 2031. By end user, blood collection centers and blood component providers held a 45-50% share of the market in 2025 and are also expected to post the fastest growth as plasma collection volumes rise and cold-chain requirements tighten. North America accounted for a 40-45% share of the global market in 2025, while Asia Pacific is projected to be the fastest-growing region, supported by healthcare infrastructure expansion, pharmaceutical and biotechnology investment, and broader adoption of advanced diagnostic and laboratory equipment.