Press release
Healthcare Facility Management Market Size Forecasted To Achieve $450.35 Billion By 2029 With Steady Growth
Healthcare Facility Management
What Is the Healthcare Facility Management Market Size and Projected Growth Rate?
In recent years, the market size of healthcare facility management has experienced a sharp increase. The projected growth is from $259.78 billion in 2024 to $287.76 billion in 2025, recording a Compound Annual Growth Rate (CAGR) of 10.8%. Factors contributing to this growth in the historic period include heightened demand for healthcare services, stricter regulatory compliance, outsourcing non-core functions, initiatives for energy efficiency, aging healthcare infrastructure, escalated complexity of healthcare facilities, and globalization of healthcare services.
Expectations indicate a swift enlargement of the healthcare facility management market in the forthcoming years. The market is projected to escalate to $450.35 billion in 2029, with a compound annual growth rate (CAGR) of 11.8%. This growth during the forecast period is due to factors such as the rising use of telemedicine, increasing prevalence of outpatient care centers, an intensified focus on cybersecurity, personalized and precision medicine, population health management initiatives, resilience, and disaster recovery planning. Key trends for the forecast period comprise of technology integration and smart facilities, energy efficiency and sustainability, data-driven decision making, telehealth facilities and technology integration, adoption of green building practices, training of healthcare facility staff, and patient-centric technology.
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What Are the Major Segments in the Healthcare Facility Management Market?
The healthcare facility management market covered in this report is segmented -
1) By Type: Hard Services, Soft Services, Other Services
2) By Service Type: Property, Cleaning, Security, Catering, Support, Environmental Management
3) By Business Model: Outsourced, In-House
4) By End User: Hospitals And Clinics, Long-Term Healthcare Facilities
Subsegments:
1) By Hard Services: Building Maintenance, Mechanical And Electrical Services, Infrastructure Management
2) By Soft Services: Cleaning And Sanitation, Security Services, Catering And Food Services
3) By Other Services: Waste Management, Grounds Maintenance, Pest Control Services
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What Are The Driving Healthcare Facility Management Market Evolution?
The advancement of the healthcare facility management market is being propelled by the escalating number of patients alongside amplified spending on healthcare by both public and private sectors involved in healthcare systems. It is the financial support towards healthcare provided by both governmental and private entities across multiple countries that is bolstering the healthcare systems' enhancement, ultimately leading to increased adoption of healthcare facility management. To illustrate, the Office for National Statistics, based in the UK, reported that in 2022, the UK's healthcare expenditure amounted to roughly $354.88 billion (£283 billion). This signifies a nominal escalation of 0.7% in comparison to the spending from 2021. Therefore, both private and public healthcare spenders' contribution to healthcare systems is the primary driver advancing the healthcare facility management market's development.
Which Firms Dominate The Healthcare Facility Management Market Segments?
Major companies operating in the healthcare facility management market are ABM Industries Inc., ISS World Services A/S, Jones Lang LaSalle IP Inc., Medxcel Facility Management LLC, Mitie Group PLC, Aramark Corporation, Compass Group PLC, Ecolab Inc., Sodexo SVC India Pvt. Ltd., OCS Group Limited., Serco Group PLC, Vanguard Resources Inc., Arora Holdings Limited., Cushman & Wakefield, CBRE Group Inc., Johnson Controls International PLC, Crothall Healthcare, C&W Facility Services Inc., AM Facilities Management Service Ltd., Emcor Facilities Services Inc., Epic Facilities Management, Stericycle Inc., Vitas Healthcare, WellSky, Yardi Systems Inc.
What Trends Are Expected to Dominate the Healthcare Facility Management Market in the Next 5 Years?
The increased focus on technological innovation is a major trend currently being observed in the healthcare facility management sector. The healthcare industry's future is being moulded by the rapid growth in technology. For instance, in September 2022, CloudWave, an independent healthcare software hosting provider specializing in cloud and managed services from the US, introduced OpSus Cloud Services. The service presents a multi-cloud strategy to hospital users, ensuring consistent accessibility, solid security, and convenience in the user's data center. In addition, CloudWave OpSus Edge provides a comprehensive range of options such as computing, storage, security, backup, recovery as well as full operations and system maintenance with their infrastructure-as-a-service.
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Which Is The Largest Region In The Healthcare Facility Management Market?
North America was the largest region in the healthcare facility management market in 2024. The regions covered in the healthcare facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Healthcare Facility Management Market?
2. What is the CAGR expected in the Healthcare Facility Management Market?
3. What Are the Key Innovations Transforming the Healthcare Facility Management Industry?
4. Which Region Is Leading the Healthcare Facility Management Market?
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