The global healthcare facility management market was valued at USD 325 billion in 2021 and it is anticipated to grow further up to USD 1469 billion by 2031, at a CAGR of 16.3% during the forecast period.
Medical establishments need to manage their healthcare facilities. Providing the precise clinical care facility and concentrating primarily on the service delivery & support system to various healthcare organizations, it improves the patient experience. Supporting technoscientific
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administration of services like catering, cleaning, maintenance, and security is the facilities management. IoT (Internet of Things)-based cutting-edge technologies offer the lucrative potential for facility management service providers to deliver improved patient care in healthcare facilities. It is accomplished by careful planning and creatively delivering various functions.
Market Trends and Drivers
Increasing investment in healthcare infrastructure and the construction of healthcare facilities coupled with rising geriatric population and growing patient volume owing to the rising prevalence of chronic diseases and COVID-19 and the increasing healthcare expenditure. All around the nation, chronic diseases like diabetes, heart disease, and cancer are on the rise. Infectious disease prevalence is also rising alarmingly quickly. The market would expand as a result of expenditures made in the healthcare infrastructure to satisfy patients’ rising demand. Similarly, integration of AI and IoT in healthcare facilities is opening up new opportunities in the global market. Automation is increasingly being used in healthcare energy management systems. For hospitals and other healthcare institutions, power quality is a crucial requirement. The energy optimization and energy flow of the healthcare building would benefit from the use of AI and IoT.
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Major Players in the Global Healthcare Facility Management Market
The key players studied in the market are Jones Lang LaSalle IP, Inc. (US), CBRE (US), Sodexo (France), ABM (US), ISS (Denmark), Medxcel (US), GSH Group (US), Accruent (US), Johnson Controls (Ireland), 3M (US), Hospital Energy (US), Electro Industries/GaugeTech Inc. (US), BuildingLogiX (US), Energy Management Consulting (US), Neva Corporation (US), Monroe Mechanical, Inc. (US), Torcon (US), and U.S. Engineering Company Holdings (US) among others.
COVID-19 Impact
The abrupt onset of the COVID-19 pandemic has slowed the growth of the Healthcare Facility Management Market-US Forecast. Due to the implementation of lockdowns, businesses saw certain operational and logistical difficulties in the first quarter of 2020. The market eventually experienced a robust recovery in 2021 thanks to the enormous influx of COVID-19 patients and the enormous demand for healthcare facilities and associated management services.
Market Segments
By Product Type
- Waste Management
- Security Services
- Catering Services
- Cleaning Services
- Technical Support Services
- Others
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By End User
- Hospitals & Clinics
- Long-term Healthcare Facilities
- Others
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