Global Healthcare Facilities Management Market Set For Rapid Growth, To Reach Around USD 515.31 Billion By 2024

23-Jul-2018 | Zion Market Research

Zion Market Research has published a new report titled “Healthcare Facilities Management Market by Product (Hard Services [Plumbing & Air Conditioning Maintenance, Fire Protection Systems, Mechanical & Electrical Maintenance and Others] and Soft Services [Cleaning & Pest Control, Laundry, catering, Waste Management, Security and Others]) and by End-User (Hospital, Ambulatory Service Centers, Clinics, Long-Term Healthcare Facilities and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global healthcare facilities management market was valued at approximately USD 211.07 billion in 2017 and is expected to generate revenue of around USD 515.31 billion by the end of 2024, growing at a CAGR of around 13.60% between 2018 and 2024.

Healthcare facilities management is a professional management authority which generally focuses on the delivery of services & support system to different healthcare organizations. The growing awareness about the cleanliness and different facilities required in a healthcare organization is fueling the growth of the market. 

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Healthcare facilities management market is segmented into the service type and end user. On the basis of service type, healthcare facilities management market is segmented into hard services and soft services. Hard services segment is further segmented into protection systems, plumbing, air conditioning maintenance, mechanical & electrical maintenance, and others. Soft services segment is further sub-segmented into the laundry, waste management, laundry, security, cleaning & pest control, and others. The soft services segment dominated the market in 2017. In soft service segment, cleaning & pest control dominated the market due to the increasing awareness about the cleanliness required to avoid spreading of diseases and awareness regarding the need for controlling the contamination of the environment. The rise in demand for minimizing the energy cost and raising awareness for curtailing operating cost are some of the factors that are augmenting the growth of the hard services segment.

Global Healthcare Facilities Management Market

On the basis of the end user, the healthcare facility management market is segmented into ASC’s, hospital, long-term healthcare facilities, and others. Hospital segment is expected to dominate the healthcare facility management market during the forecast period.

Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa are the regional segments of the global market of healthcare facilities management. North America is anticipated to dominate the market in the forecast period due to the robust infrastructure of healthcare and rapid increase in the technological advancements in the healthcare IT sector. Europe is the second most lucrative market after North America. The increase in investment in healthcare infrastructure & awareness about cleanliness in healthcare facilities is fueling the healthcare facilities management market in Europe. In the forecast period, Asia Pacific is expected to follow North America and surpass Europe due to rising investments by the government for the growth of healthcare infrastructure. The rapid increase in the medical tourism in the emerging economies such as China and India act as lucrative markets for the players for investments, thus expected to fuel the growth of the healthcare facilities management market in the Asia Pacific region. 

Latin America & the Middle East & Africa is expected to show lower growth rate in the forecast period. The increase in investment by the government for the development of the healthcare sector is expected to fuel the growth of healthcare facilities management market in these regions.

The main players involved in the global market of healthcare facilities management are ISS World Services A/S, Mitie Group Plc, Ecolab USA Inc., ABM, OCS Group, Jones Lang LaSalle, IP, Aramark, Founders3 Real Estate Services, Medxcel Facilities Management, Sodexo, Inc., Vanguard Resources, and Compass Group Plc. The companies are focusing on providing recent technologies and cost-effective services.

This report segments the global healthcare facilities management market as follows:

Global Healthcare Facilities Management Market: Service-Type Segment Analysis

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

Global Healthcare Facilities Management Market: End-User Segment Analysis

  • Hospital
  • Ambulatory Service Centers
  • Long-Term Health Facilities
  • Clinics
  • Others

Global Healthcare Facilities Management Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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