Healthcare Facilities Management Market: Upcoming Trends and Growth Analysis

The demand in the global healthcare facilities management market is projected to increment at an impressive CAGR of 13.4% during the forecast period of 2017 to 2025, gaining traction from a number of factors, such as increasing government support for robust healthcare infrastructure in a number of emerging economies, particularly in Asia Pacific, prevalence of several chronic diseases, increasing disposable income of the urban population, and technological advancements both hard and soft services. Cloud computing and the Internet of Things are also expected to open new opportunities for the vendors operating in the global healthcare facilities management market, who are yet to explore vast unmet demand in rural areas across the world.

The report estimates the global healthcare facilities management market to be worth US$577.92 bn by the end of 2025, remarkably up from its evaluated valuation of US$187.35 bn in 2016. Medical tourism is emerging as a trend that may prove highly profitable for the stockholders of this market.

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On the basis of service type, the global healthcare facilities management market is segmented into soft services such as cleaning and pest control, catering, laundry, waste management, security, and administrative services, and hard services including plumbing and air conditioning, mechanical and electrical maintenance, fire protection services, and fabric maintenance. In 2016, the cleaning and pest control sub-segment served the maximum demand in the global healthcare facilities management market, which was a clear reflection of the need for controlled contamination environment at the healthcare facilities. Healthcare facilities management professionally manages integration of processes, location, systems, technology, and staff and the patients. Cleaning is paramount for healthcare facilities to maintain healthy and hygienic atmosphere. On the other hand, waste management sub-segment is expected to expand the demand quickly too during the forecast period, performing much better than laundry segment.

While soft services segment are gaining momentum, hard services remain major revenue generator for the companies operating in the global healthcare facilities management market. Rising demand for reduced energy cost, need to curtail operating cost, and government support are some of the key factors augmenting the demand for hard services segment of healthcare facilities management market.

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In the current scenario, North America and Europe are most profitable regions for the vendors of the healthcare facilities management market, which is primarily due to robust healthcare infrastructure in a number of developed countries such as the U.S., Canada, Germany, France, and the U.K. However, while North America is expected to hold its leading position, Europe is anticipated to lose ground against Asia Pacific, which is rapidly turning into a highly lucrative regional market. Emerging economies such as India, China and Japan have sustained support from the government for the development of healthcare infrastructure, while medical tourism trend is prospering the healthcare facilities management market in Malaysia. The region of the Middle East and Africa as well as South America are also projected for strong growth rate.

ISS World Services A/S, Aramark, ABM, Ecolab USA Inc., Jones Lang LaSalle, OCS Group, Founders3 Real Estate Services, IP, Medxcel Facilities Management, Sodexo, Inc., Compass Group PLC, Vanguard Resources, and Mitie Group PLC ares some of the prominent companies currently functional in the global healthcare facilities management market. Product innovation and improved services are some of the key strategies of these companies to maintain their position in the market.

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