June 23, 2024

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Healthcare Facilities Management Market Size To Value USD

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Fort Collins, Colorado, Jan. 19, 2024 (GLOBE NEWSWIRE) — The Healthcare Facilities Management Market size was valued at USD 389.2 Billion in 2022 and is anticipated to reach USD 809.6 Billion by 2032 at a CAGR of 7.7%.

Healthcare facility management is a system that ensures the safety and hygiene of the healthcare facility and equipment to provide patients with a better environment and services.

A significant factor contributing to the growth of this market is the rise in demand for good healthcare facilities due to rising customer preferences for good and hygienic hospitals. Additionally, the demand for good hospitals and long-term healthcare facilities has increased with the increase in the geriatric population and the growing number of people suffering from chronic diseases. According to the United Nations, the number of people aged 65 and above is expected to grow to 1.6 billion in 2050, and the population above 80 is growing tremendously.

Automation is a major trend in the healthcare facilities management market. Several automation services are carried out efficiently and hassle-free. Additionally, with increasing regulations and demand for good healthcare facilities, the adoption rate is expected to grow during the forecast period.

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Segmentation Overview:

The global healthcare facilities management market has been segmented into product, end-user, and region. Based on product, the market segmentation comprises waste management, security, catering, cleaning, and technical support services. Waste management accounted for a substantial share of the product type segment as the demand and regulations regarding hospital waste disposal are rising tremendously.

Based on end-users, the market is segmented as hospitals and clinics, long-term healthcare facilities, and others. Hospitals and clinics hold a significant share in the end-user segment as since the pandemic, governments and many major healthcare providers are investing heavily in improving healthcare facilities.

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Healthcare Facilities Management Market Report Highlights:

  • The global healthcare facilities management market growth is anticipated at a CAGR of 7.7% by 2032.
  • Factors such as increasing investments in the healthcare sector and the growing need for innovation and sustainability are projected for market growth.
  • These facilities facilitate the hospitals with better ranking and compliance certifications that help them build patient trust and provide better customer service. Patients can also easily differentiate between certified and non-certified hospitals and decide on the hospitals to avail quality treatment.
  • North America holds a significant share in the healthcare facilities management market. North America holds a substantial share in the healthcare facilities management market, with the United States having a significant share due to improving medical facilities and growing investments in their medical facilities, both at government and private levels.
  • Some prominent players in the healthcare facilities management market report include Sodexo, Aramark, Compass Group, ABM Industries, Ecolab, Mitie, Spotless Group, CBRE Group, Medxcel, ISS World, and others.

Industry Trends and Insights:

–          In 2024, IIM Kashipur and Max Healthcare collaborated to introduce a post-graduate management course in hospital management to address the evolving needs in the healthcare segment and equip healthcare professionals with the relevant knowledge and skills.

–          In 2023, Generative AI witnessed a wide technological reception for data security and privacy. It also solves logistics issues and adds more accuracy in the healthcare capabilities. 

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Healthcare Facilities Management Market Segmentation:

By Product: Waste management, security services, catering services, cleaning services, technical support services.

By End-user: Hospitals and clinics, long-term healthcare facilities.

By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

 

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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