Healthcare Facilities Management Market: Recent Industry Developments and Growth Strategies Adopted by Players

A fresh intelligence study by Transparency Market Research (TMR) has detected that the global healthcare facilities management market is divided among a number of players, who are constantly enhancing their products as well as the standard of services in order to sustain market share and even gain some ground.

In the near future, the TMR report expects collaborations with domestic vendors as another key strategy by the prominent companies of the global healthcare facilities management market, such as Aramark, Founders3 Real Estate Services, Jones Lang LaSalle, IP, Inc., Compass Group PLC, ABM, OCS Group, Mitie Group PLC, Vanguard Resources, Medxcel Facilities Management, Sodexo, Ecolab USA Inc., ISS World Services A/S. The report also overviews a few promising regional players, such as Serco Group Plc. and Manutencoop Facility Management S.p.A.

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As per the projections of the TMR report, the global healthcare facilities management market is prospering, and the demand will continue to increment at an impressive CAGR of 13.4% during the forecast period of 2017 to 2025. The report estimates the global market for healthcare facilities management to be worth US$577.92 bn by the end of 2025, significantly up from its evaluated valuation of 187.35 bn in 2016. With no clear leader, the competitive landscape of the global healthcare facilities is anticipated to offer new opportunities for both prominent as well emerging players.

Based on type of services, the TMR report segments the global healthcare facilities management market into hard services including plumbing, air conditioning maintenance, fire protection systems, mechanical and electrical maintenance, and fabric maintenance, and soft services including cleaning and pest control, laundry, catering, waste management, security, and administrative services.

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Among all these, the soft services sub-segment of cleaning and pest control currently serves the maximum demand, and is expected to remain most lucrative throughout the forecast period, as maintaining a clean environment in highly contaminated surrounding of healthcare facilities is paramount.

Geographically, the report rates North America and Europe as most profitable regions, wherein a number of developed countries have robust healthcare infrastructure. However, the vastly populated region of Asia Pacific, which houses a number of emerging economies, is projected for the most prominent growth rate during the forecast period of 2017 to 2025. Popularity of medical tourism and increasing disposable income of the urban population are some of the primary reason why a number of key companies in the healthcare facilities management market are having a foray in Asia Pacific.

The demand in the global healthcare facilities management market is driven by a number of factors, such as prevalence of a number of chronic diseases, technological advancements in the healthcare products and services that go a long way in helping the patients as well as caregivers, increasing disposable income among the urban population, consistently increasing support from government in both developed and emerging economies, and growing trend of medical tourism.

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On the other hand, the lack of managerial awareness is hindering the market from attaining its true potential. Emergence of cloud-based solutions, increasing demand for outsourcing of services, and growing adoption of the Internet of Things are some of the trends that are expected to open whole new revenue avenues for the agile companies operating in the global healthcare facilities management market.

The information presented in this review is based on a Transparency Market Research report, titled, “Healthcare Facilities Management Market (Services - Hard Services (Plumbing and Air Conditioning Maintenance, Fire Protection Systems, Mechanical and Electrical Maintenance, and Fabric Maintenance) and Soft Services (Cleaning, Laundry, Catering, Waste Management, Security, and Administrative Services) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”

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