What Is The Current and Historic Market Size Analysis Of The Healthcare Facility Management Market?
The healthcare facility management market has seen considerable growth due to a variety of factors.
• In recent times, the market size for healthcare facility management has seen a quick expansion. The market value, which is forecasted to rise from $259.78 billion in 2024 to $287.76 billion in 2025, represents a compound annual growth rate (CAGR) of 10.8%. This growth over the previous period is due to a variety of factors including a surge in demand for healthcare services, strict regulatory compliance, the outsourcing of non-essential functions, initiatives for energy efficiency, an aging healthcare infrastructure, increasing complexity in healthcare facilities, and the globalization of healthcare services.
What Is The Forecast For The Healthcare Facility Management Market?
The Healthcare Facility Management market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness considerable expansion in the coming years, the healthcare facility management market is projected to reach a worth of $450.35 billion by 2029, growing at an 11.8%.
compound annual growth rate (CAGR). Several factors are contributing to this prospective growth during the forecast period, including the growing prevalence of telemedicine, increased adoption of outpatient care facilities, emphasized focus on cybersecurity, development of personalized and precision medicine, strategies for managing population health, and planning for resilience and disaster recovery. Key trends expected during this period encompass the integration of technology into smart facilities, prioritizing energy efficiency, making decisions based on data, telehealth facilities and technology integration, adoption of environmentally friendly building practices, training for healthcare facility staff, and increasing use of patient-centric technology.
What Are The Essential Drivers Behind The Growth Of The Healthcare Facility Management Market?
The escalating population of patients and enhanced healthcare expenditure by private and public entities in healthcare systems is propelling the growth of the healthcare facility management market. The support lent by governmental and private healthcare spending in various nations contributes to the expansion of healthcare systems, leading to better patient care. This facilitates the wider utilization of healthcare facility management in these systems. For example, the Office for National Statistics, a UK-based statistical body, has reported that in 2022, the healthcare expenditure in the UK saw a nominal ascent of 0.7%, reaching about $354.88 billion (£283 billion), compared to the year 2021. Thus, the investment in healthcare systems by private and public bodies is fortifying the growth trajectory of the healthcare facility management market.
How Is The Global Healthcare Facility Management Market Divided Into Key Segments?
The healthcare facility management market covered in this report is segmented –
1) By Type: Hard Services, Soft Services, Other Services
2) By Service Type: Property, Cleaning, Security, Catering, Support, Environmental Management
3) By Business Model: Outsourced, In-House
4) By End User: Hospitals And Clinics, Long-Term Healthcare Facilities
Subsegments:
1) By Hard Services: Building Maintenance, Mechanical And Electrical Services, Infrastructure Management
2) By Soft Services: Cleaning And Sanitation, Security Services, Catering And Food Services
3) By Other Services: Waste Management, Grounds Maintenance, Pest Control Services
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What Trends Are Reshaping The Future Of The Healthcare Facility Management Market?
The rise of technological innovations is becoming a significant trend in the market for healthcare facility management. Unprecedented growth in technological advancements is shaping the healthcare industry's future. In an illustration of this trend, CloudWave, a US-based independent cloud and managed service software hosting provider for healthcare, launched OpSus Cloud Services in September 2022. This service offers infrastructure-as-a-service in user's data centers, providing computing, storage, security, backup, recovery, and comprehensive operations and systems maintenance. This multi-cloud strategy provided by OpSus Cloud Services guarantees hospital users availability, ease of access, and strong security.
Who Are the Key Players In The Healthcare Facility Management Market?
Major companies operating in the healthcare facility management market include:
• ABM Industries Inc.
• ISS World Services A/S
• Jones Lang LaSalle IP Inc.
• Medxcel Facility Management LLC
• Mitie Group PLC
• Aramark Corporation
• Compass Group PLC
• Ecolab Inc.
• Sodexo SVC India Pvt. Ltd.
• OCS Group Limited.
• Serco Group PLC
• Vanguard Resources Inc.
• Arora Holdings Limited.
• Cushman & Wakefield
• CBRE Group Inc.
• Johnson Controls International PLC
• Crothall Healthcare
• C&W Facility Services Inc.
• AM Facilities Management Service Ltd.
• Emcor Facilities Services Inc.
• Epic Facilities Management
• Stericycle Inc.
• Vitas Healthcare
• WellSky
• Yardi Systems Inc.
What Are The Regional Insights Into The Healthcare Facility Management Market?
North America was the largest region in the healthcare facility management market in 2024. The regions covered in the healthcare facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
