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2022

Healthcare Facility Management Market

Healthcare Facility Management Market Size, Share, Competitive Landscape and Trend Analysis Report, by Service Type, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

LS : Healthcare

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Author's: Prachi Sanjay Rakshe | Roshan Deshmukh
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Healthcare Facility Management Market Research, 2031

The global healthcare facility management market size was valued at $208.80 billion in 2021, and is projected to reach $427.13 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031. Healthcare facilities management is the administration and maintenance of a healthcare facilities development. It comprises to deliver healthcare services across clinics, long term institutions, hospitals, surgical centers, and others. The healthcare facility management services establish safety policies and maintenance programs, identify requirements for repairs or improvements, and manage safety and cleanliness awareness programs in the healthcare settings. These help provide safe and hygienic environment to nurses, doctors, outpatients, inpatients, and others. Healthcare facility management care about patient’s quality of life and maintains medical facilities by preventing equipment failures so that there will be no interruption during any surgical operations.

Healthcare Facility Management Market, Healthcare Facility Management (HFM) Market, Healthcare Facility Management Market size, Healthcare Facility Management Market share, Healthcare Facility Management Market trends, Healthcare Facility Management Market growth, Healthcare Facility Management Market analysis, Healthcare Facility Management Market forecast, Healthcare Facility Management Market opportunity

Growth of the global healthcare facility management market size is majorly driven by rise in prevalence of geriatric population along with the increase in number of patients with chronic diseases, obesity; and introduction of new services by large number of key players. For instance, in Union Budget 2021, it was announced that under the new scheme namely PM Atmanirbhar Swasth Bharat Yojana, around 11,000 urban and 17,000 rural wellness centers was supported. In addition, the finance minister calculates the expenditure for health and wellbeing in which it includes the department of drinking water and sanitation. Thus, the initiatives taken by government to provide accurate services across healthcare facilities industry drives the growth of the market. Furthermore, the launch of various healthcare facilities providing programs by private and public sector fuel the growth of the market. Also, the hospitals and healthcare facilities are adding new software and other technology applications which are crucial to evaluate technology trends. Healthcare facility management software is an innovative facility management solution which helps hospitals and clinics to effectively manage patient care and streamline their daily operations. Healthcare facilities management software is fully loaded with features combined with ease-of-use with enterprise functionality. Moreover, in current pandemic the hospitals and clinics need to ensure cleanliness and sanitization in their facility. Thus, increase in technological applications in healthcare facility management drives the healthcare facility management market growth.

In addition, as per Central Pollution Control Board, India had generated nearly 24,468.85 tonnes of COVID-19 related bio-medical waste from June 2020 to November 2020. These  healthcare wastes may lead to having health risks. Thus, healthcare providers are implementing new programs for the effective management of healthcare wastes, and is anticipated to drive the growth of the market. The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global healthcare facility management market. According to World Health Organization, 2020, there are increased in volumes of discarded materials from health protection activities, medical diagnosis, treatment and scientific research during COVID-19 pandemic. Therefore, there was efficient disposal of medical waste. Thus, rise in demand for the management of this medical waste leads to increase in the need of healthcare facilities management services, which significantly drives the growth of the market.

The healthcare facility management market is segmented into Service Type and End User. By service type, the market is categorized into hard services and soft services. By end user, it is categorized into hospitals & clinics, Long term care facilities, and others.

Region wise, the healthcare facility management (HFM) market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

Healthcare Facility Management Market by Service Type

Depending on service type, the soft services segment dominated the market in 2021, and this trend is expected to continue during the forecast period. The dominance is due to increase investment in waste management, wastewater management, and others. However, the hard services segment is expected to witness considerable growth during the forecast period, owing to rapid rise of construction of healthcare centers and increase in need for maintaining electrical and mechanical services across healthcare settings.

Healthcare Facility Management Market by End User

Depending on end user, the hospitals & clinics segment dominated the market in 2021, and this trend is expected to continue during the forecast period owing to rise in number of hospitals and clinics to provide healthcare services. However, the long term care facilities segment is expected to witness considerable growth during the forecast period, owing to rise high sophistication of long term care facilities and its massive expenditure of the facility management services, and rise in older population suffering from chronic conditions.

Healthcare Facility Management Market by Region

Region wise, North America garnered the major healthcare facility management market share in 2021, and is expected to continue to dominate during the forecast period, owing to robust healthcare infrastructure. However, Asia-Pacific is expected to register the highest CAGR of 9.3% during healthcare facility management market forecast, owing to increase in concentration on partnership with local players to provide services to end users and increase their geographic footprint.

The key players that operate in the healthcare management industry include ABM Industries Inc., Sodexo, Armark Corporation, CBRE Group Inc., Jones Lang Lasalle Incorporated, International Service System A/S, 3 M Company, Medxcel, Johnson Controls international, and Accruent.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the healthcare facility management market analysis from 2021 to 2031 to identify the prevailing healthcare facility management market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the healthcare facility management market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global healthcare facility management market trends, key players, market segments, application areas, and market growth strategies.

Healthcare Facility Management Market Report Highlights

Aspects Details
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By Service Type
  • Hard Services
    • Type
      • Plumbing and Air Conditioning Maintenance
      • Fire Protection
      • Mechanical and Electrical Maintenance
      • Others
  • Soft Services
    • Type
      • Cleaning Services
      • Catering Services
      • Security Services
      • Waste Management
      • Others
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By End User
  • Hospitals and Clinics
  • Long Term Care Facilities
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

Armark Corporation, Sodexo, Medxcel, Jones Lang LaSalle Incorporated, ABM Industries Inc., 3M COMPANY, ISS, CBRE Group, Inc., Accruent, Johnson Controls.

Analyst Review

This section provides the opinions of the top level CXOs in the healthcare facility management market. According to the CXOs, healthcare facility management is a sector that encompasses multiple disciplines to ensure functionality, comfort, safety of the patients, and efficiency of the environment which is built by integrating people, place, and technology.

As per the CXOs, healthcare services industry is undertaking rapid and exceptional measures to bring more innovative services for management of healthcare facilities and has opened new approaches in the medical device industry. For instance, in December 2020, ISS facility management service launched a new disinfection and hygiene solution, pure space that works by analyzing all traffic and touch-points, identifying high-touch surfaces, and tailors a suitable hygiene plan for that environment. Thus, healthcare facility services providers are on verge of launching new services for the effective management of healthcare needs, which is likely to drive the growth of the market.

The CXOs further added that the soft services segment is expected to remain dominant during the forecast period, owing to strong demand for this services among large number of key players in the market.  Moreover, North America is expected to offer lucrative opportunities to the market during the forecast period, owing to rise the massive influx of COVID-19 patients and large demand for clean and well maintained healthcare facilities. However, Asia-Pacific is registering the fastest growth rate during the forecast period, owing to the developing healthcare infrastructure, rising disposable incomes, as well as well-established presence of domestic companies in the region.

Author Name(s) : Prachi Sanjay Rakshe | Roshan Deshmukh
Frequently Asked Questions?

Growing geriatric population along with the increase in number of patients hospitalized due to chronic diseases and introduction of new services by large number of key players are few of the major driving factors of Healthcare Facility Management Market

Among service type, soft services held a dominant share of the Healthcare Facility Management Market in 2021

North America is the largest regional market for Healthcare Facility Management

The estimated industry size of Healthcare Facility Management was US$ 208.8 billion in 2021

Sodexo, Armark Corporation, and ABM Industries Inc., are some of the top companies to hold the market share in Healthcare Facility Management

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Healthcare Facility Management Market

Global Opportunity Analysis and Industry Forecast, 2021-2031