Ottawa, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The global healthcare facility management market size is predicted to grow from USD 353.07 billion in 2025 to approximately USD 787.65 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.
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Market Overview:
The healthcare facility management market refers to the industry that provides facility management services and solutions to healthcare organizations. This market is driven by the increasing complexity of healthcare facilities, the growing focus on patient experience and the need for efficient and cost-effective operations. Healthcare providers are increasingly outsourcing facility management functions to specialized companies to improve their operational efficiency and reduce costs.
The healthcare facility management market is characterized by a diverse range of players which includes facility management companies, maintenance contractors, cleaning services and technology providers. These companies offer a variety of facility management services which are tailored to the specific needs of different healthcare organizations. The choice of facility management provider depends on factors such as the size and complexity of the healthcare facility, budget constraints and the desired level of service.
Rsising Healthcare Costs Drives the Market’s Growth:
- The increasing cost of healthcare services had made it imperative for healthcare organizations to optimize their operations and reduce expenses. Healthcare facility market plays a crucial role in identifying cost saving opportunities and improving efficiency.
- Also, as patients become more demanding, healthcare providers are prioritizing the creation of positive patient experience. Well maintained facilities, comfortable environments and efficient services contribute significantly to overall patient satisfaction.
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North America’s Flexible Demand Dominates the Market:
North America dominated the healthcare facility management market by holding the largest share of market in 2023. Advanced healthcare infrastructure, cutting edge medical technologies and highly skilled professionals are some of the region’s strength in the market. The United States and Canada are the primary contributors to this dominance with the US being the major force.
Increasing number of chronic diseases, such as cardiovascular disease and diabetes, is creating a greater need for healthcare facilities in the United States which in turn drives the demand for effective facility management services.
- For instance, in the year 2022, healthcare spending in the United States rose by 4.2%, reaching USD 4.5 trillion, according to the National Health Expenditure Accounts (NHEA). This growing healthcare expenditure highlights the urgent need for efficient facility management to handle the expanding demand for healthcare services.
Growing Population is Driving the Merket in Asia Pacific Region:
The Asia pacific region is projected to grow at the fastest rate in the healthcare facility management market. The rapid growth is largely fueled by the expanding population in countries like China in India as well as Japan's aging demographic which has driven a rise in demand for healthcare services and long-term care facilities.
China is a significant contributor to this growth boosting one of the most advanced healthcare infrastructures in the world. As of 2023, China had approximately 1.07 million healthcare and medical facilities including over 39,000 hospitals and 37,000 healthcare centers, according to the National Bureau of statistics in China. In the year 2023 nearly 9.56 million patients were expected to visit hospitals across China further underscoring the need for effective management systems to handle such demand.
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Healthcare Facility Management Market, Opportunity:
The segment predictive maintenance holds tremendous potential for revolutionizing the healthcare facility management market. By integrating advanced technologies like machine learning and data-driven algorithms healthcare facilities can move from reactive to proactive maintenance strategies. Predictive maintenance leverages equipment sensors, historical records and computerized maintenance management systems to predict equipment failures before they happen. This not only helps in preventing costly breakdowns but also ensures smooth operations and uninterrupted patient care.
- For instance, the company called Siemens announced the integration of generative AI into predictive maintenance solutions in February of 2024, making a significant step forward in this field. The functionality predictive maintenance tools are expected to become more intuitive and capable of conversational interactions. These advancements will allow healthcare facility managers to easily interact with systems receive real time updates and even automate scheduling for maintenance. By streamlining this process facilities can minimize equipment downtime and avoid emergency repairs resulting in significant cost savings.
Markets Impacted by Healthcare Facility Management Market:
1. Healthcare Navigation Platform Market
The global healthcare navigation platform market was estimated at US$ 10.10 billion in 2023 and is projected to grow to US$ 24.83 billion by 2034, rising at a compound annual growth rate (CAGR) of 8.52% from 2024 to 2034. The rising demand for patient centered care coupled with an increasing emphasis on enhancing patient experiences, is driving this market. Healthcare facility management plays a crucial role in healthcare navigation platform by ensuring seamless operation across healthcare institutions thus improving overall patient flow and reducing the burden on navigation platforms.
2. Healthcare Consumables Market
The healthcare consumables market is directly affected by the operational efficiency and healthcare facilities. The global healthcare consumables market was estimated at US$ 155.40 billion in 2023 and is projected to grow to US$ 225.68 billion by 2034, rising at a CAGR of 3.45% from 2024 to 2034. Healthcare consumables including items like syringes, gloves, surgical masks and disinfectants are essential for daily operations in hospitals and clinics. Effective healthcare facility management ensures the timely procurement, storage and distribution of these consumables reducing wastage and ensuring consistent supply.
- For instance, hospitals in India faced shortages in essential consumables due to disruption in supply chain management in 2023. But the integration of advanced facility management system that drug usage and predict demand, healthcare facilities have improved their supply chain efficiency which is directly impacting the availability of consumables and ensuring uninterrupted patient care.
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Healthcare Facility Management Market Segments:
- By location, on-site facility management segment held the largest share of the healthcare facility management market in 2023. This is primarily because hospitals and healthcare facilities require continuous monitoring and maintenance of infrastructure, medical equipment, and patient safety. On-site teams are essential for managing these day-to-day operations, ensuring smooth workflows and compliance with regulatory standards. The increasing number of healthcare facilities, particularly in regions like North America and Asia Pacific has driven the demand for on-site management.
- By services, the construction services segment led the healthcare facility market in 2023, driven by the continuous expansion and upgrading of healthcare facilities globally. As hospitals and medical centers grow to meet increasing patient demands the need for new construction, renovations and infrastructure improvements has surged. For example, in the United States many healthcare institutions have been investing in organizing their facilities and focusing on sustainability.
- By setting, acute care facilities setting dominated the healthcare facility management market in 2023. Acute care facilities suggest hospitals and emergency departments play a crucial role in delivering immediate treatment for severe injuries, surgery and other urgent medical condition conditions. The demand for specialized facility management in these high-pressure environments remain high, ensuring safety, hygiene and efficient operational workflows.
Recent Development Healthcare Facility Management Market
| Company | Waste Management, Inc. |
| Headquarters | Texas, United States, North America |
| Development | In June 2024, Waste Management, Inc. has signed a definitive agreement to acquire all outstanding shares of Stericycle. Stericycle specializes in regulated medical waste management, compliance services, and secure information destruction. |
| Company | Pacific Healthcare Group |
| Headquarters | Thailand, Asia Pacific |
| Development | In May 2024, Pacific Healthcare Group chose Rimini Support for Oracle, encompassing support for Oracle EBS, Oracle Technology, and Oracle Database. By opting for Rimini Support, this global healthcare management organization reaps the benefits of flexibility, cost savings, and high-quality support. |
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Top Companies in the Healthcare Facility Management Market
- ABM Industries Inc
- UEM Edgenta Berhad
- Mitie Group plc
- Compass Group plc
- Sodexo
- Ecolab, Inc.
- Secro Group plc
- Vanguard Resources
- ISS World Services A/S
- Aramark Corporation
- OCS Group
- Manutencoop Facility Management S.p.A.
- Medxcel Facility Management
- Jones Lang LaSalle, IP, Inc
Segments Covered in the Report
By Location
- On-site Facility Management
- Off-site Facility Management
By Service
- Construction Services
- Building Construction
- Building Repair and Maintenance, Testing, and Inspection
- Other
- Hard Services
- Plumbing, Air Conditioning, and Maintenance
- Fire Protection
- Mechanical and Electrical Maintenance
- Other
- Energy Services
- Energy Management
- Other
By Setting
- Acute
- Short-term Acute and Critical Access Hospitals
- Children’s Hospitals
- Academic Medical Centers
- Military Treatment Facilities
- Ambulatory Surgery Centers
- Post-acute
- Long-term Acute Facilities
- Skilled Nursing Facilities
- Other
- Non-acute
- Physicians’ Offices & Clinics
- Other
By Region
- North America
- U.S.
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
Discover our detailed Table of Contents (TOC) for the Industry, providing a thorough examination of market segments, material, emerging technologies and key trends. Our TOC offers a structured analysis of market dynamics, emerging innovations, and regional dynamics to guide your strategic decisions in this rapidly evolving healthcare field - https://www.towardshealthcare.com/table-of-content/healthcare-facility-management-market-sizing
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About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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