Healthcare Facilities Management Market Size To Hit US$ 624.8 Bn By 2030

The global healthcare facilities management market size was estimated at USD 253.61 billion in 2022 and is predicted to surpass around USD 624.8 bn by 2030, growing with a CAGR of 11.93% over the forecast period 2022 to 2030.

Key Takeaway:

By service type, the soft services segment has captured 56% revenue share in 2021.
By end user, the hospitals and clinics segment has captured revenue share of around 60% in 2021.
By region, the North America has held 41% revenue share in 2021.
The Asia Pacific market is poised to grow at a CAGR of 9.5% over the forecast period.

Healthcare facilities management is a broad area that covers several services provided across hospitals wards, waiting areas, and other zones. Healthcare facility management services are non-core services of a healthcare facility have appeared as in dispensable services in the expedition to deliver good in-patient care and competent running of a healthcare capacity. Healthcare facility management service suppliers are approving innovative ICT to address the growing prospects of healthcare organizations.

Health facilities management has existed as its own specialization inside the facility management industry. Medical buildings like hospitals would subcontract non-clinical tasks to generate sterile working circumstances whereas they dedicated on offering patient care. At present, health and FM are no longer identical with Health Facilities Management (HFM) associated with the medical industry but as one of the budding novel trends within facility management that manages facilities for wellbeing and health.

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Report Scope of the Healthcare Facilities Management Market

Report Highlights	Details
Market Size	USD 624.8 Billion by 2030
Growth Rate	CAGR of 11.93% from 2022 to 2030
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2021
Forecast Period	2022 to 2030
Segments Covered	Service Type, Hard Service Type, Soft Service Type, Regional Outlook

Major Market Influencers:

Launch of new and innovative equipments
Increasing number of healthcare facilities

Growth Factors

Increasing Number of Healthcare Facilities
Growing focus on health and wellness will infuse more facets of business and private life during coming years
Occurrences of chronic and rare diseases and elevated geriatric population in Europe and North America
IoT and supplementary new ICT (Information and Communication Technology)

Restraints

Lack of Technical Expertise
High cost associated with cleaning and disinfection equipment

Report Highlights

The global market for the Soft Services was valued at USD 98.66 billion in 2019 and is expected to reach USD 256.53 billion by 2027, growing at a CAGR of 12.74% from 2020 to 2027.
The global market for the Hard Services was valued at USD 79.85 billion in 2019 and is expected to reach USD 216.65 billion by 2027, growing at a CAGR of 13.34% from 2020 to 2027.
Recognized companies are centering on intensifying their service base with by acquisitions of small-sized and niche companies functioning in the market. This benefits established players to incorporate novel technologies adopted by niche businesses.
Real Time Location System for tracking of medical equipment, inventory management via low-cost Bluetooth Low Energy technology, collecting in-patient data via wearable and sensors and usage of mobile technology to distantly assess patient data are certain of the IoT-enabled services that are accepted by facility management service suppliers.

Regional Snapshots

In 2020, North America dominated the healthcare facilities management on account of vigorous healthcare infrastructure and the introduction of diverse technologies for healthcare facilities management. North America is expected to further mirror this dominance throughout the forecast period on account rising awareness regarding healthcare sector growth in the region.

Healthcare institutions produce a huge amount of both non-hazardous and hazardous wastes daily. These wastes are produced as a result of the treatment, diagnosis, and research on animal and human diseases. These hazardous wastes, when incorrectly managed may compromise the worth of patient care. These wastes may increase environmental pollution and spread infectious illnesses such as hepatitis, acquired immunodeficiency syndrome (AIDS), diphtheria, cholera, and tuberculosis among others.

Major highlights of report:

Figures related to sales volume, market remuneration, and segmental shares
Featuring market dynamics
Growth prospects and expansion graph
PROCON study of direct & indirect sales channels
Profiles of prominent traders, dealer, and distributors in the industry

Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa

Industry forecasts based on region and at country level
Data about sales volume recorded, industry share held, and profit margins amassed
Overall remuneration and estimated growth rate for each regional market

ABM Industries Inc
ISS World Services A/S
Jones Lang LaSalle, IP, Inc
Manutencoop Facility Management S.p.A.
Medxcel Facility Management
Mitie Group plc
Aramark Corporation
Compass Group plc
Ecolab, Inc.
OCS Group
Secro Group plc
Sodexo
Vanguard Resources
UEM Edgenta Berhad

Segments Covered in the Report

This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2017 to 2030. This report includes market segmentation and its revenue estimation by classifying it on the basis of end-use and region as follows:

By Service Type

Hard Services
- Mechanical and Electrical Maintenance
- Plumbing, Air Conditioning Maintenance
- Fire Protection Systems
- Others
Soft Services
- Laundry
- Waste Management
- Cleaning & Pest Control
- Catering
- Security
- Others