Healthcare Facilities Management Market Estimated to Reach US$ 354,138.7 Mn in 2022 with a CAGR of 12.9% by 2023
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| Healthcare Facilities Management Market |
Market Overview:
The global Healthcare Facilities Management Market is projected to reach a
value of US$ 354,138.7 Mn in 2022
and is expected to exhibit a CAGR of
12.9% over the forecast period. Healthcare facilities management involves
the management of various services and processes in healthcare facilities,
including infrastructure management, waste management, food services,
environmental services, and maintenance and repairs. These services play a
crucial role in ensuring the efficient functioning of healthcare facilities and
providing a safe and comfortable environment for patients and healthcare
professionals. The increasing demand for healthcare services due to the growing
global population and the rising prevalence of chronic diseases is driving the
need for efficient and cost-effective healthcare facilities management
solutions.
Market Key Trends:
One key trend observed in the healthcare facilities management market is the
increasing adoption of digital technologies. Digital technologies such as IoT,
cloud computing, and artificial intelligence are being used to automate and
streamline healthcare facilities management processes. For example, IoT sensors
can be used to monitor the condition of medical equipment and alert maintenance
personnel in case of any malfunction. Cloud computing allows for centralized
storage and management of data, enabling easy access and collaboration between
different stakeholders. Artificial intelligence can help in analyzing large
amounts of data and providing insights for better decision making. The
integration of these technologies into healthcare facilities management is
expected to improve operational efficiency, reduce costs, and enhance the
overall patient experience.
Segment Analysis:
The healthcare facilities management market can be segmented based on the type
of service offered, which includes hard services and soft services. Soft
services dominate the market segment with a larger market share as compared to
hard services. Soft services refer to non-technical services such as
housekeeping, laundry, catering, and waste management, among others. These
services are essential for maintaining a hygienic and safe healthcare facility
environment. With the increasing emphasis on patient satisfaction and quality
of care, healthcare facilities are investing in outsourcing soft services to
professional management companies. This allows the healthcare providers to
focus on their core activities while ensuring efficient and reliable soft
services. Companies such as Compass Group PLC and Sodexo are dominant players
in this segment, offering a wide range of soft services to healthcare
facilities worldwide.
Key Takeaways:
The global Healthcare
Facilities Management Market is expected to witness high growth,
exhibiting a CAGR of 12.9% over the forecast period. This growth can be
attributed to several factors, including the increasing focus on outsourcing
non-core activities by healthcare providers. Outsourcing facilities management
services allows healthcare facilities to reduce costs, improve operational
efficiency, and ensure a safe and hygienic environment for patients.
Furthermore, the increasing demand for quality healthcare services, patient
satisfaction, and regulatory compliance is driving the market growth.
Healthcare facilities management companies are adopting innovative technologies
and solutions to streamline operations and improve service delivery.
In terms of regional analysis, North America is the fastest-growing and
dominating region in the healthcare facilities management market. This can be
attributed to the high healthcare expenditure, well-established healthcare
infrastructure, and a large number of healthcare facilities in the region. The
presence of key players such as Cushman & Wakefield and Jones Lang LaSalle
further contributes to the growth of the market in North America.
Key players operating in the healthcare facilities management market include
Cushman & Wakefield, Tenon Group, Compass Group PLC, Sodexo, and Serco
Group PLC, among others. These companies offer a wide range of services,
including facilities planning, maintenance, and operations, catering, waste
management, and environmental services, among others. With their extensive
global presence and expertise in healthcare facilities management, these key
players are expected to drive the market growth in the coming years.
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