Precedence Research’s latest report on the global healthcare facilities management market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global healthcare facilities management market size is estimated to attain US$ 400 Billion by 2027 and projected to register compound annual growth rate (CAGR) of 12.98% during the forecast period 2020 to 2027.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for healthcare facilities management market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Healthcare facility management services are non-core services of a healthcare facility that have appeared as indispensable services in the expedition to deliver good in-patient care and competent running of a healthcare capacity. Healthcare facility management service suppliers are approving innovative ICT to address the growing prospects of healthcare organizations.
Health facilities management has existed as its own specialization inside the facility management industry. Medical buildings like hospitals would subcontract non-clinical tasks to generate sterile working circumstances whereas they dedicated on offering patient care. At present, health and FM are no longer identical with Health Facilities Management (HFM) associated with the medical industry but as one of the budding novel trends within facility management that manages facilities for wellbeing and health.
Currently, occurrences of chronic and rare diseases and elevated geriatric population in Europe and North America demanding sophisticated medical facilities. This is leading to escalation in the number of healthcare facilities that supports the growth of healthcare facility management services. Further, IoT and supplementary new ICT (Information and Communication Technology) are flourishing the healthcare facility management market.
There has been upsurge in the amount of international and national facility management contracts all over the globe. In 2000, there were only a few international facility management contracts, which in future on augmented to double digits by 2010. This comprised a growth in international healthcare facility management contracts. Such growth in various types of contracts is fueling growth of healthcare facility management market.
- Soft healthcare facility management services segment is anticipated to occupy major market share than the hard healthcare facility management services segment. Hard services segment is also projected to increase at a higher pace during the estimate period.
- Recognized companies are centering on intensifying their service base with by acquisitions of small-sized and niche companies functioning in the market. This benefits established players to incorporate novel technologies adopted by niche businesses.
- Real Time Location System for tracking of medical equipment, inventory management via low-cost Bluetooth Low Energy technology, collecting in-patient data via wearable and sensors and usage of mobile technology to distantly assess patient data are certain of the IoT-enabled services that are accepted by facility management service suppliers.
In 2019, North America dominated the healthcare facilities management on account of vigorous healthcare infrastructure and the introduction of diverse technologies for healthcare facilities management. North America is expected to further mirror this dominance throughout the forecast period on account rising awareness regarding healthcare sector growth in the region.
Healthcare institutions produce a huge amount of both non-hazardous and hazardous wastes daily. These wastes are produced as a result of the treatment, diagnosis, and research on animal and human diseases. These hazardous wastes, when incorrectly managed may compromise the worth of patient care. These wastes may increase environmental pollution and spread infectious illnesses such as hepatitis, acquired immunodeficiency syndrome (AIDS), diphtheria, cholera, and tuberculosis among others.
In 2018, in Switzerland, as per the Organization for Economic Co-operation and Development (OECD), the average per capita healthcare expenditure was about USD 7,317 and was around USD 5,299 in Denmark. Thus growing concerns towards healthcare waste management and rising healthcare expenditure are driving the growth of global Healthcare facility management services market.
Key Players & Strategies
The snowballing level of specialization within the health sector leads more progressive demands from services and FM industry customers. Agencies and competitors are concentrating on evolving niches in the health industries that could attain market success over comprehensive service providers as the requirement for advanced services touches an acute threshold.
Industry value chain of the healthcare facility management market includes of raw material providers, healthcare facility management service providers, and end users. Suppliers of raw material to this industry can be either in-house personnel or third party suppliers, as per the approach accepted by a facility management service provider. There has been a rise in the amount of acquisition and mergers among service providers. Clinics and hospitals are anticipated to witness gainful progress on account of rising awareness about the sanitation needed to evade scattering of diseases and responsiveness concerning the requirement for controlling the pollution of the environment.
Some of the foremost players functioning in the healthcare facility management marketplace are Manutencoop Facility Management S.p.A. (MFM), ABM Industries Inc., Compass Group plc, Ecolab, Inc., ISS World Services A/S, Aramark Corporation, Jones Lang LaSalle, IP, Inc., Medxcel Facility Management, Mitie Group plc, Sodexo, Vanguard Resources, and UEM EdgentaBerhad, OCS Group, Secro Group plc and others.
Segments Covered in the Report:
By Service Type
- Hard Services
- Soft Services
By Hard Service Type
- Mechanical and Electrical Maintenance
- Plumbing, Air Conditioning Maintenance
- Fire Protection Systems
By Soft Service Type
- Waste Management
- Cleaning & Pest Control
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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