Healthcare Facility Management Market By Service Type (Hard Services, Soft Services), By End User (Hospitals and Clinics, Long Term Care Facilities, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global healthcare facility management market was valued at $208.8 billion in 2021 and is projected to reach $427.13 billion by 2031 registering a CAGR of 7.4% from 2022 to 2031.
Healthcare facility management is a maintenance and oversight of healthcare facilities, development, security and operations. This includes healthcare facility services such as clinics, long-term facilities, surgical centers and hospitals. The major aim of healthcare facility management is to assure an extraordinary environment of care which is combined with the safety of both patients and workers. The healthcare facility management is responsible for monitoring the ongoing operations, and general security of healthcare facilities. There are various functions of healthcare facility management that are managing day-to day operations, maintaining a high quality care environment, in house maintenance, and others. Healthcare facility management needs to be dynamic, careful, and agile. It includes hard services and soft services. The hard services include plumbing air conditioning maintenance, fire protection, mechanical and electrical maintenance, and other services. Whereas, the soft services include cleaning services, catering services, security services, waste management and others.
The main factors that foster the growth of the healthcare facility management market are rise in geriatric population, increase in cases of chronic diseases, and surge in medical tourism in emerging countries. In addition, the presence of innovative technologies such as internet of things (IoT), software, and Key performance indices (KPI) matrix for measuring facility services is offering a significant growth opportunities during the forecast period and drives the growth of the market. Furthermore, the increase in investment in healthcare infrastructure and consciousness regarding hygiene in healthcare facilities are also one of the significant factor fuels the growth of the market.
In addition, increase in adoption of advanced technologies such as automated guided vehicles in hospitals to handle the materials that boost the growth of the healthcare facility management market. For Instance, In June 2020, ASTI InSystems Automation in Germany and its integration partner ‘Revotonix’ developed a robot called Smart Autonomous System Hospital Assistant for the transport of container or trays of up to 50 kilograms within hospitals and health centers. This automated guided vehicles always provide the best intra-logistics solutions according to the needs of the customers. ASTI Mobile Robotics together with its acquired ASTI InSystems a leading European mobile robotics group, presents a mobile robot that can transport different loads within the healthcare sector, facilitating the distribution of medicine and food on time. Thus, increase in introduction of new innovative technologies drives the growth of the healthcare facility management market.
Moreover, development of pharmaceutical & medical device industries and improvement in healthcare spending are anticipated to drive the growth of the healthcare facility management market. For instance, In January 2022, CBRE acquired Buildingi, a leading provider of occupancy planning and technology services, to meet the growing demand for holistic occupancy management services. Buildingi provides space utilization data management and computer-aided design services that help to underpin CBRE’s best in class occupancy management expertise with Buildingi’s robust technology across Integrated Workplace Management Systems. This acquisition will complement CBRE’s existing centers in Europe and Asia. Also, at present CBRE can provide 24/7 foundational occupancy planning services which includes technical drawing and planning services, and work order processing. Thus, market players offering such innovative healthcare services fuels the growth of the healthcare facility management market.
Furthermore, government initiatives such as investment in infrastructure, healthcare spending, which drive the growth of the market. Moreover, as per the Central Pollution Control Board, India has generated nearly 28,468.85 tonnes of COVID-19 related bio-medical waste from June 2020 to November 2020. These healthcare wastes may pose health risks through the release of pathogens and toxic pollutants into the environment. Thus, establishment of new healthcare programs for the management of healthcare wastes, is further anticipated to boost the demand for healthcare facility management services. Furthermore, rise in number of technical medical vehicles approvals is expected to provide remunerative opportunities for the expansion of the global market during the forecast period. Moreover, rising demand for regular maintenance of mechanical and electrical products across healthcare facilities drives the market growth.
However, high costs of healthcare facility management maintenance is projected to impede the market growth. Presently, there is an increase in awareness regarding health among the people, which, in turn, compels them to maintain their health condition and that lead to rise in usage of healthcare facilities services. This has encouraged many key players to enter emerging market, thus offering lucrative growth opportunities in the healthcare facility management market.
The healthcare facility management market is studied across the service type, end user, and region. On the basis of service type, the market is bifurcated hard services and soft services. The hard services segment further divided into plumbing air conditioning maintenance, fire protection, mechanical and electrical maintenance, and others. The soft services divided into cleaning services, catering services, security services, waste management, and other. By end user, it is categorized into hospitals & clinics, long term care facilities, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players mentioned in the report are ABM Industries Inc., Sodexo, Armark Corporation, CBRE Group Inc., Jones Lang Lasalle Incorporated, International Service System A/S, 3 M Company, Medxcel, Johnson Controls international, and Accruent.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the healthcare facility management market analysis from 2021 to 2031 to identify the prevailing healthcare facility management market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the healthcare facility management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global healthcare facility management market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Type
Hard Services
Type
Plumbing and Air Conditioning Maintenance
Fire Protection
Mechanical and Electrical Maintenance
Others
Soft Services
Type
Cleaning Services
Catering Services
Security Services
Waste Management
Others
By End User
Hospitals and Clinics
Long Term Care Facilities
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
ABM Industries Inc.
Sodexo
Armark Corporation
CBRE Group, Inc.
Jones Lang LaSalle Incorporated
ISS
3M COMPANY
Medxcel
Accruent
Johnson Controls.
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