Healthcare Facility Management Market: Poised for a $11.58 Bn Growth by 2030

healthcare facility management market was valued approximately at USD 7.11 billion in 2023 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030, reaching nearly USD 11.58 billion by 2030. The rising demand for cost-effective and efficient healthcare services along with the commonly held need for automation and digitization in order to increase operational efficiency continues to drive this growth.

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Factors that Drives composition growth and emerging opportunities

Growth in the Healthcare Facility Management Market The increasing necessity to manage all operations accurately in hospitals is one of the major factors that is contributing to the growth of the healthcare facility management market, however the other factors include:

Increased Numbers Of Patients: The worldwide rise in chronic diseases and the rebound from the COVID-19 pandemic have increased patient volume, and hence, efficient facility location management is essential to guarantee optimal patient care.

Technological Advancements: Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing are among the technologies that have transformed how healthcare facilities are managed. Such innovations allow for real-time tracking, better asset management, better energy consumption, and better patient experiences.

Government initiatives for Smart Cities around the globe have resulted in construction of huge public setups like hospitals that promotes demand for facility management services.

Segmentation Analysis

The healthcare facility management market is classified into location, service type, setting, and end-user:

Based on the location → On-site: These are services where the workforce will be available directly on the client site-off-site facility management. On-site services are managed on the premises of the healthcare services, whereas off-site services are managed remotely.

Based on service type, the market is segmented into hard services, construction services, and energy management. Hard services include physical asset management; construction services include infrastructure development; and energy management relates to the optimization of energy use on the inside of facilities.

Based on Set up: Premises are perhaps called equivalent, post-intense, and non-intense settings since each of these settings needs explicit administration system to satisfy the particular needs of human services conveyance.

By End-User: The end-users segment is expected to include hospitals and clinics, long-term care facilities, and other healthcare facilities with different management needs.

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Country-Level Analysis

US: The US healthcare facility management market is expected to grow on the back of the economic bounce back which is encouraging new companies to be formed and employees coming back to workplaces Corporate activity is also being propelled by government measures like extended economic packages and massive infrastructure development.

Germany: Germany features an advanced healthcare infrastructure with a strong focus on quality care. Facility management services are enhancing due to the growth of technologically advanced healthcare services and the well-established healthcare system in the country.

China : The accelerated urbanization drove investments in healthcare across China. In addition, the government's emphasis on upgrading healthcare infrastructure also resounds well with market growth.

India: The country is highly fragmented with many players in the facility management industry that are pivoting to an organized sector. Increasing urbanization and the growing trend of facility management companies are driving the market growth.

United Kingdom: Both healthcare services and infrastructure are working towards progress which have resulted into investments in facility management to improve patient care and operational performance in the country.

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Competitor Analysis

There is high competition in the market due to the large number of key players such as;

3M Company - St. Paul, MN: A diversified technology company that manufacture variety of products with medical task in mind tackles one of the big problem in managing a healthcare facility.

CBRE Group Inc. (U.S.): One of the largest commercial real estate services providers worldwide, it offers integrated facilities management services to healthcare organizations.

Johnson Controls (United States): Provides building technology and solutions including energy management and security systems for healthcare facilities.

Accruent (United States): Delivers software designed to manage physical resources, helping healthcare providers streamline the operation of their facilities.

Jones Lang LaSalle Inc (U.S.): Real estate and investment management services firm which operates and maintains healthcare facilities.

Conclusion

The global healthcare facility management market is set to witness substantial growth as a result of growing treatment demand, technological innovations, partnership among dominant players. With healthcare institutions placing a stronger emphasis on cost-effectiveness and higher patient experience, the need for tailored facility management services will also grow, providing fertile ground for innovation and investment in the space.

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