Hyderabad, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Healthcare Facilities Management Market Report (2023-2028),” the market is estimated at USD 398.74 billion in 2023. It is expected to register a CAGR of 10.79% during the forecast period.
The COVID-19 pandemic expansively widened the growth of the healthcare facilities market internationally. With the expansion in the number of COVID-19 patients, the increase in the number of diagnostics and treatments for the pandemic was witnessed, leading to the production of vast amounts of medical waste. Healthcare is a leading sector, owing to the mounting number of patients and rising healthcare expenditure by the public and private players in healthcare systems. Additionally, to maintain sustainable healthcare facilities management systems, even during the post-pandemic situation, the market is assumed to be on the rise, consequently boosting the studied market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 398.74 billion |
| Market Size (2028) | USD 665.56 billion |
| CAGR (2023-2028) | 10.79% |
| Study Period | 2018-2028 |
| Forecast Units | Value (billion) |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | A rising prevalence of chronic diseases. |
| Technological advancements in medical devices. |
Who are the Top Companies in the Healthcare Facilities Management Market?
The global healthcare facilities management market is highly competitive, comprising several major players.
The key players holding the global healthcare facilities management market are:
- ABM Industries Inc.
- Aramark Corporation
- Ecolab Inc.
- Iss World Services AS
- Jones Lang LaSalle
- Medxcel Facilities Management
- Ocs Group
- Serco Group PLC
- Sodexo
- Vanguard Resources Inc.
- Compass Group PLC
Other Reports That Might Be of Your Interest:
- Big Data Healthcare Market Report - The big data healthcare market is poised to register a CAGR of 16.2% during the forecast period.
- Healthcare Provider Network Management Market Report - The healthcare provider network management market is expected to witness a CAGR of 15.5% over the forecast period.
Key Highlights from the Healthcare Facilities Management Market Report:
Waste Management to Hold the Largest Market Share
- Healthcare establishments generate a considerable quantity of both hazardous and non-hazardous wastes daily. When inappropriately handled, these dangerous wastes can compromise patient care quality.
- Additionally, according to the Central Pollution Control Board (CPCB) data in 2021, India generated nearly 164 tonnes of COVID-19-related bio-medical waste per day. Healthcare providers are looking to establish and implement programs to effectively manage healthcare waste, which is likely to contribute to the growth of the studied segment.
North America to Account for Major Market Growth
- North America is predicted to witness growth in healthcare facilities management in the forecast period due to the robust healthcare infrastructure and the introduction of different technologies for healthcare facilities management.
- Additionally, the steep rise in the volume of hospitals and increasing hospital admissions is driving higher demand for healthcare facilities management, by this means boosting the studied market growth.
What are the Latest Developments in the Healthcare Facilities Management Market?
- In October 2022, ISS AS acquired the facility management company Livit FM Services AG in Switzerland from its parent Company Livit AG.
- In May 2022, ABM partnered with ELEVATE with a strategy to accelerate growth through industry-leading use of technology and analytics and investments in the client and team member experience.
Mordor Intelligence has Segmented the Healthcare Facilities Management Market Based on Product Type, End-user, and Geography:
- By Product Type
- Waste Management
- Security Services
- Catering Services
- Cleaning Services
- Technical Support Services
- Other Products
- By End-user
- Hospitals and Clinics
- Long-term Healthcare Facilities
- Other End-users
- By Geography
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- South Africa
- GCC
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Healthcare Facilities Management Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Healthcare (CDP) Market Report - The healthcare customer data platform (CDP) market is expected to grow at a healthy CAGR of 26.4% during the study period.
- Healthcare Analytics Market Report – The healthcare analytics market size is expected to grow from USD 37.83 billion in 2023 to USD 106.16 billion by 2028, at a CAGR of 22.92% during the forecast period (2023-2028).
- Healthcare BI Market Report - The healthcare BI market size is expected to grow from USD 8.89 billion in 2023 to USD 17.44 billion by 2028 at a CAGR of 14.41% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
Attachment
