The healthcare facilities management market size is expected to hit US$ 473.18 bn by 2027 and poised to grow at a CAGR of 13.2% during the forecast period 2021 to 2027, according to Precedence Research.
The healthcare facilities management market size is expected to hit US$ 473.18 bn by 2027 and poised to grow at a CAGR of 13.2% during the forecast period 2021 to 2027, according to Precedence Research.
Growth Factors
Due to an increase in the number of patients and healthcare expenditure by both public and commercial participants in healthcare systems, healthcare has become one of the fastest growing sectors. The healthcare facilities management is critical for medical facilities and for effectively responding to patient service requests. Furthermore, by enabling the precise facility of clinical care, these management services are playing a critical role in the healthcare environment, greatly affecting and increasing the patient experience.
Report Is Ready and Can be Dispatching you immediately | Get the sample copy of report@ https://www.precedenceresearch.com/sample/1026
The introduction of modern technology such as automated guided vehicles in hospitals to boost efficiencies is driving global healthcare facilities management, particularly in industrialized countries. Furthermore, the acceptance of integrated facility management business models in the healthcare industry is predicted to enhance as innovative ICT technologies such as internet of things, key performance indices, and healthcare facility management software for mapping facility services become more widely available. Another factor driving the expansion of the global healthcare facilities management market is the increasing number of strategic alliances and product launches. During the forecast period, the key market players will focus on implementing various strategies such as new product releases and collaborations to propel the global healthcare facilities management market growth during the forecast period.
Due to the growing healthcare infrastructure and increased adoption of new technologies, the global healthcare facilities management market has seen robust growth. Furthermore, rising medical tourism in emerging nations as well as an increase in healthcare organizations outsourcing facility management services to third party facility management providers are propelling the healthcare facilities management market expansion. Furthermore, due to rising worldwide healthcare expenditures, an increase in the frequency of chronic disorders, and more medical tourism in developing nations, the global healthcare facilities management market is expected to grow rapidly.
Moreover, a significant increase in the number of healthcare facilities as well as widespread awareness of rare diseases will propel the healthcare facilities management market forward over the forecast period. The development of a solid healthcare infrastructure in the North America region will lead to an expansion of healthcare facility management over the anticipated period.
Ask here for customization@ https://www.precedenceresearch.com/customization/1026
Report Highlights:
- Based on the service, the soft services segment dominated the global healthcare facilities management market in 2020 with highest market share. In the market soft services segment is expected to reach valuation around US$ 256.53 billion by 2027 with a registered CAGR of 12.74% over forecast period 2021 to 2027. The waste management holds the largest market share in soft services segment. Healthcare facilities produce a large amount of waste on a regular basis. When these hazardous wastes are improperly managed, they can risk patient care.
- In the market hard services segment is projected to grow at a CAGR of 13.34% over forecast period.
- North America is the largest segment for healthcare facilities management market in terms of region. The North America market is expected to reach valuation around US$ 162.06 billion by 2027 with a CAGR of 13.01% from 2021 to 2027. This is attributed to the strong healthcare infrastructure and the development of new technologies for healthcare facilities management.
- Asia-Pacific region is the fastest growing region in the healthcare facilities management market and has garnered CAGR of 14.46%. This is due to growing trend among hospitals to outsource non-core health care services to professional facility management groups.
Future of Healthcare Facilities Management Market
The global healthcare facilities management market’s growing need for modern and technologically advanced solutions has resulted in a considerable increase in the number of cloud computing solutions. As a trustworthy means of hosting healthcare facilities management software, cloud-based solutions are increasingly being used to integrate healthcare facilities management services. These technologies enable businesses to improve security and collaboration among their teams and businesses across many locations, lowering the organization’s operational costs.
COVID-19 Impact Analysis:
- The global healthcare facilities management market is predicted to grow significantly as a result of the COVID-19 pandemic.
- With an increase in the number of COVID-19 tests and treatments is expected, resulting in the production of massive amounts of medical waste.
Key Developments in the Marketplace:
- Pure Space, a new distinction and hygiene system announced by ISS Facility Management in December 2020, analyzes all traffic and touchpoints, identifies high touch surfaces and tailors a suitable hygiene strategy for that environment. It ensures that high touch areas are safe for several hours following disinfection.
- The National Cooperative Development Corporation (NCDC) announced plans to establish a scheme that will involve co-operatives in the creation of healthcare infrastructure and facilities, in October 2020.
- ABM, a prominent provider of facility solutions, announced in July 2017 that it had signed a formal agreement to purchase GCA Services Group. Acquisitions are part of ABM Industries’ expansion strategy, as are proper profit margins.
- Pure Space, a new distinction and hygiene technology introduced by the ISS Facility Management service in December 2020, analyzes all traffic and touchpoints, identifies high touch surfaces and tailors a proper hygiene strategy for that environment.
Key Players
The key players operating in healthcare facilities management market are ABM Industries Inc, ISS World Services A/S, Jones Lang LaSalle, IP, Inc, Manutencoop Facility Management S.p.A., Medxcel Facility Management, and Mitie Group plc are.
Market Segmentation
By Service Type
- Hard Services
- Soft Services
By Hard Service Type
- Mechanical and Electrical Maintenance
- Plumbing, Air Conditioning Maintenance
- Fire Protection Systems
- Others
By Soft Service Type
- Laundry
- Waste Management
- Cleaning & Pest Control
- Catering
- Security
- Others
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Click Here to View Full Report Table of Contents
Immediate Delivery Available | Buy this Research Report@ https://www.precedenceresearch.com/checkout/1026
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333