PUBLISHER: IMARC | PRODUCT CODE: 1291609
PUBLISHER: IMARC | PRODUCT CODE: 1291609
The global healthcare facilities management market size reached US$ 342.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 596.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
Healthcare facilities management (HFM) refers to a techno-scientific service that facilitates development, maintenance, and security operations in clinics and hospitals to enhance the patient experience. It is used to establish safety policies, identify the requirement of renovation, provide technical support, ensure a high-quality environment, maintain security, and monitor construction projects. Healthcare facilities management offers various benefits, such as the higher return of investment (ROI), flexibility, better data management, improved overall performance, transparency, and the availability of assets at cost-effective value.
The sudden outbreak of coronavirus disease (COVID-19) and the consequent implementation of social-distancing and hygiene maintenance protocols in the healthcare sector for providing the safest environment to the patients is a prime factor driving the market growth. In line with this, the increasing prevalence of various chronic diseases, the rising geriatric population, and the significant expansion in the healthcare sector are acting as other growth-inducing factors. Additionally, the widespread adoption of waste management practices for eliminating hazardous waste that leads to environmental pollution and infectious diseases, such as acquired immunodeficiency syndrome (AIDS), cholera, and hepatitis, are contributing to the market growth. The growing medical tourism in the emerging economies and strategic collaborations between third-party professional facility management providers and healthcare enterprises are positively stimulating the market growth. The introduction of several ICT technologies, such as key performance indices (KPI) and the internet of things (IoT), is boosting the market growth. Other factors, such as numerous initiatives undertaken by the governments of various countries for strengthening the healthcare infrastructure by incorporating advanced technological solutions to improve overall productivity and efficiency and the rising investment in the research and development (R&D) activities to introduce new disinfection and hygiene solutions, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare facilities management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, business model and end user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABM Industries Inc., Aramark Corporation, Compass Group PLC, Ecolab Inc., International Business Machines Corporation, ISS A/S, Jones Lang LaSalle Incorporated, Mitie Group plc, OCS Group limited, Oracle Corporation, Serco Group plc and Sodexo.