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Global Healthcare Facility Management Market Report

Dublin, July 28, 2022 (GLOBE NEWSWIRE) — The “Healthcare Facility Management – Global Market Trajectory and Analysis” report has been added to from offer.

New Study Highlights $222.9 Billion Global Market for Healthcare Facility Management by 2026
Amid the COVID-19 crisis, the global healthcare facility management market estimated at US$165.1 billion in 2022 is expected to reach a revised size of US$222.9 billion by 2026 , growing at a CAGR of 7.2% over the analysis period. Soft Services, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.5%, while Hard Services segment growth is readjusted to a revised CAGR of 8.3%.

The global health FM market continues to grow at a promising pace. As the world faces challenges in the form of increasing incidence of lifestyle-related diseases, the focus is on health and better lifestyle, which is also expected to impact the market FM. The growing focus on the healthcare sector is thus contributing to FM’s revenue growth.

Specifically in regions like Europe, where governments are cutting healthcare budgets, there is a growing demand for outsourced FM services. The growing threat of lifestyle-related diseases should also drive improvements in building design to promote comfortable, productive and active lifestyles.

The rising prevalence of chronic diseases, rising disposable incomes of city dwellers, technological advancements designed to improve health care, rapid growth in medical tourism, and support for the health sector of ministries in developed economies and Emerging technologies are also supporting the growth of the healthcare FM market.

The market is also benefiting from the increase in healthcare expenditure and associated infrastructure, increasing attention to the aspect of hygiene, as well as the rising emergence and use of technologies to maintain sustainability. . The increasing focus on patient well-being and safety also bodes well for the market.

Private health facilities are generally more focused on the implementation of health facility management. Growing demand for outsourced FM services remains a key growth driver for the overall healthcare FM market. The market is partly driven by the growing trend of hospitals and other care units to outsource facility management.

Factors such as increasing adoption of IoT and rising proliferation of cloud-based solutions are also expected to drive growth and open up new growth avenues in the healthcare FM market. Latest technologies such as Internet of Things (IoT) and Automated Guided Vehicles, among others, enable providers of these services to offer enhanced customer service. The IoT provides a constant stream of real-time data, which enables better decision-making and process optimization.

Automation is also increasingly present in hospital energy management systems. IoT and AI support energy flow and its optimization in healthcare facilities. There has also been the emergence of several smart products due to the growing adoption of IoT. Smart technology can be used to enhance door locks, HVAC, alarms and security cameras, among others, and makes it easier to use mobile devices to control them, making remote management a installation possible and takes less time.

Another factor supporting the growth of the market is the growing use of healthcare facility management software, which enables clinics and hospitals to perform routine operations smoothly and improve patient care. It enables healthcare institutions to utilize their physical resources and automate management functions.

Facilities management services are of two broad types, software services and hardware services. Physical facility management services refer to those that are integrated into the facility or building. These are vital to the working environment and cannot be removed. Hard serves are known to impact everyone in the facility, albeit at different levels. Heating, lighting/electrical, plumbing, fire safety systems, air conditioning and mechanics are a few types of essential services.

The intangible services category, especially the cleaning and pest control segments, accounts for a large share and is expected to grow at a steady pace thanks to the increasing importance of maintaining clean environments given the highly contaminated environment of various health institutions. The cleaning and pest control segment has considerable importance in the healthcare FM market, due to the high degree of contamination in healthcare facilities.

Medical waste management is expected to experience strong growth in the coming years. Healthcare establishments produce a significant amount of non-hazardous and hazardous waste on a daily basis resulting from the diagnosis and treatment of illnesses. This waste must be managed carefully and safely to prevent the spread of infection and disease and to reduce the impact on the environment.

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Companies cited

  • ATM
  • AmeriPride Services Inc.
  • Aramark Corporation
  • Compass Group PLC
  • Ecolab, Inc.
  • Founders 3 Real Estate Services
  • ISS A/S
  • Jones Lang LaSalle, Inc.
  • Medxcel
  • Mitie Group PLC
  • OCS Group Ltd.
  • Sodexo, Inc.
  • Vanguard Resources Inc.

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