Healthcare Facility Management Market by Product Type [Hard Services (Plumbing and Air Conditioning Maintenance, Fire Protection, Mechanical and Electrical Maintenance, Technical Support Services, and Others), Soft Services (Waste Management, Security Services, Catering Services, Cleaning Services, Energy Management, and Others), and other services], and End User (Hospitals and Clinics, Long-term Healthcare Facilities, and Other End Users): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 226.14 billion mark in 2022 and is expected to hit US$ 532.02 billion by 2030, recording a CAGR of 11.2% during the forecast period.
Healthcare facility management has been significantly growing with the high adoption of soft services segment.
Several initiatives taken by the government to deliver accurate services across healthcare facilities and hospitals, and addition of new software and other technology applications crucial to evaluate technology trends in healthcare facility management are the major factors driving the market's growth. For instance, healthcare facility management software for hospitals & clinics is an innovative solution for facility management that helps hospitals and clinics to manage patient care and streamline daily operations effectively. The software empowers healthcare facilities to optimize their physical resources and automate management functions, crucial for smooth, streamlined, and well-functioning of healthcare facilities. Moreover, the soft services segment is expected to lead the market with increasing investment in waste management, cleaning services, catering services, and others. The growing importance of maintaining clean environments due to highly contaminated surroundings of various healthcare facilities is also propelling the segment's growth during the forecast period.
Within the report, the market is segmented into product type, end users, and geography. On the basis of product type, the market is further segmented into hard services, soft services, and other services. Further, hard services are sub segmented as plumbing and air conditioning maintenance, fire protection, mechanical and electrical maintenance, technical support services, and others. Soft services are further sub segmented into waste management, security services, catering services, cleaning services, energy management, and others. By end users, the market is segmented into hospitals and clinics, long-term healthcare facilities, and other end users. Geographically, the market is divided into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Healthcare facilities management is important for medical facilities. It enhances the patient experience by enabling the precise clinical care facility and generally focuses on the services delivery & support system to different healthcare organizations. The facilities management supports the technoscientific management of services. Innovative technologies like IoT (Internet of Things) present profitable opportunities for facility management service providers to provide better customer service in healthcare facilities. Moreover, healthcare establishments generate a huge quantity of both hazardous and non-hazardous wastes daily. When inappropriately managed, hazardous wastes may enhance environmental pollution and spread infectious diseases, including acquired immunodeficiency syndrome (AIDS), hepatitis, and others. Medical waste management companies are following CDC guidelines during the COVID-19 pandemic. These guidelines hold the potential to simplify procedures for COVID-19 medical waste packaging. Medical waste management companies are adopting Occupational Safety and Health Administration (OSHA) standards to dispose of the medical waste. In the US, medical waste recycling is an emerging trend wherein techniques such as single-stream recycling and all-in-one mixed-waste processing have helped increase the rate of recycling and material recovery.
Rising adoption in various industries is one of the major factors accelerating the market growth.
Based on end user, the hospitals and clinics segment hold major market share of the market, due to an increase in the number of hospitals and clinics offering advanced healthcare services, rising use of healthcare facility management software, which enables clinics and hospitals to perform routine operations smoothly, and enhanced patient care. The facility management software allows healthcare facilities to use their physical resources and perform automation of management functions.
Recent strategic developments in healthcare facility management market
The healthcare facility management market has undergone several significant developments, and a few of these have been mentioned below:
- In December 2020, ISS Facility Management service launched a new disinfection, and hygiene solution Pure Space, which analyzes all traffic and touchpoints, identifies high-touch surfaces, and tailors a suitable hygiene plan for that environment. It ensures that high-touch areas remain safe for hours after disinfection procedures.
- In April 2021, Sodexo acquired MTS Health Limited, the UK’s leading medical equipment asset management provider, to expand its business in the healthcare sector.
- In January 2022, CBRE acquired Building, a leading provider of occupancy planning and technology services, to meet the growing occupier demand for holistic occupancy management services.
Several players drive the healthcare facility management market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Sodexo, Ecolab Inc., ABM Industries Inc., Aramark Corporation, CBRE, Serco Group plc, and Ocs Group are the prominent players operating in the market.
Target audience for the report:
- Service providers
- Government bodies, such as regulating authorities and policy makers
- Organizations, forums and alliances related to facility management
- Private equity firms and start-up companies
- Research institutes
- Research organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Product Type:
- Hard Services
- Plumbing and Air Conditioning Maintenance
- Fire Protection
- Mechanical and Electrical Maintenance
- Technical Support Services
- Others
- Soft Services
- Waste Management
- Security Services
- Catering Services
- Cleaning Services
- Energy Management
- Others
- Other Services
- Hard Services
- End User:
- Hospitals and Clinics
- Long-term Healthcare Facilities
- Other End Users
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Sodexo
- Ecolab Inc.
- ABM Industries Inc.
- Aramark Corporation
- CBRE
- Serco Group plc
- Mitie Group plc
- ISS World Services A/S
- Medxcel Facilities Management
- Ocs Group.
Companies profiled
- Sodexo
- Ecolab Inc.
- ABM Industries Inc.
- Aramark Corporation
- CBRE
- Serco Group plc
- Mitie Group plc
- ISS World Services A/S
- Medxcel Facilities Management
- Ocs Group.