Healthcare Facility Management Market to Witness Remarkable Growth With Demand, Size, Share, Growth and Forecast 2026

The healthcare facility management industry is poised for significant growth and transformation in the near future. With the increasing complexity and demands of healthcare operations, there is a growing need for efficient and integrated management of healthcare facilities.
The healthcare facility management industry is poised for significant growth and transformation in the near future. With the increasing complexity and demands of healthcare operations, there is a growing need for efficient and integrated management of healthcare facilities. Advanced technologies such as Internet of Things (IoT), artificial intelligence (AI), and data analytics are expected to play a key role in streamlining facility operations, optimizing resource utilization, and enhancing patient experiences. These technologies can enable real-time monitoring of critical systems, predictive maintenance of equipment, and intelligent decision-making for facility management. Additionally, the focus on patient-centered care and the emphasis on infection control and safety will drive the adoption of innovative solutions in healthcare facility management. This includes the implementation of smart building systems, energy management systems, and automated processes to ensure the highest standards of safety, hygiene, and patient comfort. The healthcare facility management industry is on the cusp of a digital transformation that will revolutionize the way healthcare facilities are managed, resulting in improved efficiency, cost-effectiveness, and overall quality of care.

Healthcare Facility Management market [https://www.marketsandmarkets.com/Market-Reports/healthcare-facility-management-market-140438011.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $6.0 billion in 2021 and is poised to reach $8.3 billion by 2026, growing at a CAGR of 6.7% from 2021 to 2026 according to a latest report published by MarketsandMarkets Trademark . The increasing investments in healthcare infrastructure and the construction of healthcare facilities in the US, rising geriatric population, growing patient volume due to the rising prevalence of chronic diseases and COVID-19, and increasing healthcare expenditure are the major factors driving the growth of the US healthcare facilities management services market.

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the on-site facility management segment accounted for the largest market share in the Healthcare Facility Management Market-US Forecast and is expected to grow at the highest CAGR during the forecast period.

Based on the location, the Healthcare Facility Management Market-US Forecast is segmented into on site and off site facility management. In 2020, the on-site facility management segment accounted for the largest market share. This segment is projected to register the highest growth during the forecast period. The growth in this segment can be attributed to the increasing demand for better health facilities and the increasing adoption of outsourcing facility management services. Moreover, a majority of healthcare facilities management services are efficiently performed on-site.

Construction service segment account for the largest share of the Healthcare Facility Management Market-US Forecast in 2020.

Based on services, the Healthcare Facility Management Market-US Forecast is segmented into construction services, hard services, and energy services. In 2020, the construction services segment accounted for the largest market share, owing to the high expenditure of construction services such as building repair, construction, maintenance, relocation, and renovation. The hard services segment, on the other hand, is expected to grow at the highest CAGR during the forecast period, owing to the increasing focus on healthcare HVAC, ventilation, and mechanical and electrical services and the integration of advanced technologies to perform these services.

Acute setting account for the largest share of the Healthcare Facility Management Market-US Forecast in 2020. The post acute setting is expected to grow at the fastest CAGR.

Based on settings, the Healthcare Facility Management Market-US Forecast is segmented into acute, post-acute, and non-acute settings. In 2020, the acute settings segment accounted for the largest market share. This can be attributed to the rising demand for high-end facility management services for acute care settings, which are large in area and are highly sophisticated facilities. The hard, energy, and construction services required for acute settings incur more expenditure than other settings, owing to the high cost and effort of maintenance of acute facilities.

Key Market Players:

The Healthcare Facility Management Market-US Forecast is competitive, with a few leading market players and numerous small players. Some of the major companies operating in this market are Jones Lang LaSalle IP, Inc. (US), CBRE (US), Sodexo (France), ABM (US), and ISS (Denmark).

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Hypothetic Challenges of Healthcare Facility Management Market in Near Future:

* Technological complexity: As healthcare facilities increasingly adopt advanced technologies for facility management, there may be challenges in integrating and managing these complex systems. Ensuring seamless interoperability and data exchange between various systems and platforms can be a challenge.
* Security and privacy concerns: With the growing reliance on digital solutions and interconnected systems, the risk of cybersecurity threats and data breaches becomes a significant concern. Healthcare facility managers need to invest in robust security measures to protect sensitive patient data and maintain the privacy of individuals.
* Regulatory compliance: The healthcare industry is subject to numerous regulations and standards related to facility management, patient safety, and environmental sustainability. Staying compliant with evolving regulations and requirements can be a challenge, requiring constant monitoring and adaptation of facility management practices.
* Budget constraints: Healthcare facilities often face budget constraints and financial pressures. Balancing the need for cost-effective facility management solutions while ensuring optimal patient care and safety can be a challenge for facility managers.
* Workforce management: Healthcare facilities require skilled and trained personnel to manage and maintain various aspects of facility operations. Recruiting and retaining qualified staff, providing adequate training, and addressing workforce shortages can pose challenges in healthcare facility management.
* Aging infrastructure: Many healthcare facilities have aging infrastructure that requires ongoing maintenance, repairs, and renovations. Managing the infrastructure needs while ensuring minimal disruption to patient care can be a challenge, especially in facilities with limited resources.

Top 3 Use Cases of Healthcare Facility Management Market:

* Asset and Equipment Management: Effective healthcare facility management involves the efficient management and maintenance of various assets and equipment within the facility. This includes medical equipment, facility infrastructure, HVAC systems, and other critical systems. Healthcare facility management solutions enable proactive monitoring, maintenance scheduling, and asset tracking, ensuring optimal utilization, minimizing downtime, and extending the lifespan of assets.
* Patient Flow and Space Optimization: Healthcare facilities often face challenges in managing patient flow, optimizing space utilization, and ensuring smooth operations. Facility management solutions can help monitor and manage patient flow, streamline appointment scheduling, and optimize space utilization for various departments and services. This improves patient experiences, reduces waiting times, and maximizes the efficiency of the facility's resources.
* Compliance and Safety Management: Healthcare facilities are subject to strict regulations and standards related to patient safety, infection control, and environmental sustainability. Facility management solutions play a vital role in ensuring compliance with these regulations by enabling real-time monitoring, reporting, and maintenance of safety protocols. This includes monitoring environmental conditions, implementing safety protocols, managing waste disposal, and conducting regular inspections to maintain a safe and compliant healthcare environment.

Recent Developments:

* CBRE acquired Building, a leading provider of occupancy planning and technology services, to meet the growing occupier demand for holistic occupancy management services.
* JLL acquired Building Engines, a building operations platform.
* ABM acquired Crown Building Maintenance Co. and Crown Energy Services, Inc. (collectively, Able), a leading facilities service.
* Sodexo acquired MTS Health Limited, the UK's leading provider of medical equipment asset management, to expand its business in the healthcare sector.

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