healthcare facilities management market was valued at US$ 354.14 Bn in 2022 and is forecast to reach a value of US$ 931.22 Bn by 2030

BURLINGAME, CALIFORNIA , UNITED STATES, November 24, 2023 /EINPresswire.com/ -- Market Overview:

Healthcare facilities management includes hard services such as plumbing, HVAC maintenance and capital projects and soft services such as housekeeping, security and waste management for hospitals and medical facilities. These services help hospitals and clinics run smoothly and focus on patient care.

Market Dynamics:

The healthcare facilities management market is driven by the advancement in healthcare infrastructure around the world. Growing healthcare expenditure has prompted governments to invest in building new and improving existing healthcare infrastructure. This has increased the demand for facilities management services in the healthcare industry. Additionally, the growing geriatric population who require more medical care is also fueling the need for quality facilities management. Furthermore, stringent regulations regarding hygiene and infection control in the healthcare industry has increased the demand for professional facilities management services to comply with these norms.

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Increasing Ageing Population: A Key Driver for Healthcare Facilities Management Market Growth

The global ageing population is significantly driving the demand for healthcare facilities management services. As people grow older, they require more medical care and assistance. This increases the patient load on hospitals and other medical facilities. In order to efficiently handle this increased number of patients and provide quality care, healthcare providers are increasingly outsourcing non-core services like facility management, security, catering etc. to specialized service providers. This ensures the core clinical staff can focus only on patient care while other support functions are efficiently managed. According to the UN, the number of people aged 65 years or older is expected to grow from 703 million in 2019 to 1.5 billion in 2050 globally. This rising ageing population will generate huge demand for quality and accessible healthcare infrastructure and management of facilities, thus boosting the healthcare facilities management market.

Changes in Healthcare Delivery Models: Another Major Growth Driver

The traditional fee-for-service healthcare model is slowly transitioning to more efficient and collaborative care models like accountable care organizations (ACOs) and bundled payments. These new care delivery models emphasize preventive and population health management rather than episodic treatment. They put greater focus on coordinating all aspects of a patient’s care and improving overall health outcomes. Effective facility management plays a pivotal role in enabling these new care models by supporting initiatives like lean healthcare, digital patient engagement as well as optimizing clinical spaces, staff allocation and resource planning. It allows providers to concentrate on their core clinical responsibilities while relying on facilities managers to run non-core operations smoothly and efficiently. This shift in healthcare delivery approach is a prominent driver propelling the growth of healthcare facilities management market.

Stringent Regulations and Standards: A Key Market Restraint

Healthcare facilities are subject to extensive regulatory compliances and quality certifications worldwide. Strict guidelines around patient safety, infection control, building controls and other operational aspects place a significant compliance burden on providers as well as facilities management companies. For instance, standards like the Joint Commission International (JCI), HaCIRIC and NHS regulations in the UK mandate strict protocols around sanitation, clinical processes, waste disposal and other best practices that are costly to implement and maintain. Moreover, differences in regulatory frameworks across regions increase complexity for multinational facilities management firms. While regulations aim to ensure quality care, the high costs associated with compliance and lack of harmonization currently act as a major barrier hampering the growth of healthcare facilities management market, especially for small players.

Growing Outsourcing as a Major Market Opportunity

While healthcare institutions primarily focus on patient care, non-core support services are increasingly being outsourced to specialized third-party facilities management companies. The key benefits of outsourcing include access to technical expertise, economies of scale advantages, flexibility to scale up or down as needs change and better management of capital expenditures. According to various industry surveys, over 80% of healthcare providers in developed countries currently outsource at least one non-clinical function. Growing frustration with lack of in-house capabilities is further driving this trend as providers seek partners who can guarantee operational efficiency and quality standards. The market opportunity for healthcare facilities management outsourcing is projected to grow significantly in the coming years as more healthcare players recognize the strategic and financial merits of this business model.

Sustainability and Digitalization: Emerging Trends in Healthcare Facilities Management

Sustainability and digitalization are gaining prominence as major trends disrupting the broader facilities management industry landscape and the healthcare segment in particular. Growing focus on reducing environmental impact and energy efficiency in hospitals has boosted adoption of green building certification programs and sustainable operational practices like waste minimization and renewable energy use. On the digital front, use of IoT sensors, AI, predictive maintenance, computer-aided facility management systems are improving efficiency of space utilization, equipment performance monitoring, remote manageability and data-driven decision making. This is enhancing customer experience and clinical outcomes. Several large healthcare facilities management companies are making strategic investments and R&D efforts to establish sustainability leadership and digital capabilities in line with evolving market needs. These trends will significantly reshape service delivery models over the coming decade.

Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, a detailed analysis of the competitive landscape, and product services of key players. Analysis of Healthcare Facilities Management companies, key tactics followed by Leading Key Players:

◘ Cushman & Wakefield
◘ Tenon Group
◘ Apollo Sindoori
◘ Compass Group PLC
◘ Sodexo
◘ Serco Group PLC
◘ OCS Group
◘ Jones Lang LaSalle
◘ ISS World Services AS
◘ Ecolab Inc.
◘ ABM Industries Inc.
◘ Aramark Corporation
◘ Vanguard Resources Inc.
◘ Medxcel Facilities Management
◘ among others.

Note: Major Players are sorted in no particular order.

By Product Type:

Waste Management
Security Services
Catering Services
Cleaning Services
Technical Support Services
Other Product Types

By End User:

Hospitals and Clinics
Long-term Healthcare Facilities
Other End Users

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The Study Objectives are:

A comprehensive insight into key players operating in the Healthcare Facilities Management Market and their corresponding data.
It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
Regional analysis, which includes insight into the dominant market and corresponding market share.
It also includes various socio-economic factors affecting the evolution of the market in the region.
The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Contents:

Market scenario 2023

Chapter 1: Introduction, Market Driving Force Product Objective of Study and Research Scope the Healthcare Facilities Management market
Chapter 2: Exclusive Summary - the basic information of the Healthcare Facilities Management Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges & Opportunities of the Healthcare Facilities Management
Chapter 4: Presenting the Healthcare Facilities Management Market Factor Analysis, Supply/Value Chain, PESTEL analysis, Market Entry, and Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User, and Region/Country 2023 - 2030
Chapter 6: Evaluating the leading manufacturers of the Healthcare Facilities Management market which consists of its Competitive Landscape, Peer Group Analysis, Market positioning & Company Profile
Chapter 7: To evaluate the market by segments, by countries, and by Manufacturers/Companies with revenue share and sales by key countries in these various regions (2023-2030)
Chapters 8 & 9: Displaying the Appendix, Methodology, and Data Source

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Key Questions Answered:

What is the market size and CAGR of the Healthcare Facilities Management Market during the forecast period?
How is the growing demand impacting the growth of Healthcare Facilities Management Market shares?
What is the growing demand of the Market during the forecast period?
Who are the leading vendors in the market and what are their market shares?
What is the impact of the COVID-19 pandemic on the APAC Healthcare Facilities Management Market?

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