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Global Healthcare Facility Management Market Size, Share & Industry Trends Analysis Report By Location, By Setting, By Service, By Construction Services Type, By Energy Services Type, By Hard Services Type, By Regional Outlook and Forecast, 2022 - 2028

Global Healthcare Facility Management Market Size, Share & Industry Trends Analysis Report By Location, By Setting, By Service, By Construction Services Type, By Energy Services Type, By Hard Services Type, By Regional Outlook and Forecast, 2022 - 2028

  • April 2022
  • 331 pages
  • ID: 6283430
  • Format: PDF
  • KBV Research

Summary

Table of Contents

The Global Healthcare Facility Management Market size is expected to reach $9.5 billion by 2028, rising at a market growth of 6.8% CAGR during the forecast period.

The development, maintenance, security, and operations of a healthcare facility are all under the supervision of healthcare facilities management. This involves every facet of facility upkeep and includes any building that delivers healthcare services, like clinics, long-term institutions, surgical centers, and hospitals.

Maintaining certification and establishing compliance is an important part of any healthcare organization’s success, and it’s one of the most important jobs a facilities manager does. Facility managers are responsible for ensuring that facilities comply with legislation like the Americans with Disabilities Act and managing the ongoing maintenance of certifications and accreditations provided by organizations like The Joint Commission.

Providing a safe & reliable Environment of Care (EoC) for patients is important to every healthcare facility. Any healthcare facility where patients are treated, including inpatient and outpatient, falls under this category. The EoC’s main purpose is to provide a safe & efficient working environment for patients & staff.

While facilities management teams do not directly manage or lead construction projects, they are deeply invested throughout the process and are responsible for keeping projects on schedule and within budget. Healthcare facilities managers are also in charge of capital plans for future facility investment as well as the current maintenance of facilities and assets.

COVID-19 Impact

The healthcare facilities industry is predicted to grow significantly as a result of the COVID-19 pandemic. With an increase in the number of COVID-19 patients, a rise in the number of COVID-19 tests and treatments is expected, resulting in the production of massive amounts of medical waste. In addition, given the social separation, the administration of in-patient & out-patient services during a pandemic is critical. In addition, maintaining good cleanliness is crucial in combating COVID-19 pandemic. As a reaction to COVID-19, as per the Centers for Disease Control & Prevention (CDC), healthcare facilities must offer care to all patients in the safest manner possible for both patients and healthcare professionals. As a result of the considerations listed above, healthcare facility management is in high demand during the pandemic.

Market Growth Factors

Rising Expenditure on Waste Management

Healthcare facilities produce a large amount of hazardous & non-hazardous waste regularly. These wastes are produced as a result of human & animal disease diagnosis and treatment. When these hazardous wastes are improperly managed, they can jeopardize patient care. These wastes may contribute to environmental degradation and the development of infectious diseases such as AIDS, tuberculosis, hepatitis, cholera, diphtheria, and many more. As per World Health Organization, during the COVID-19 pandemic, there will be greater volumes of discarded materials from health protection activities, medical diagnosis, treatment, & scientific research, and the safe, efficient disposal of this medical waste is a vital component in the management of COVID-19.

The industry is being boosted by Y-O-Y expansion in spending on healthcare facilities

The healthcare spending as a percentage of global income has risen steadily but gradually during the previous two decades. The health investment has added two years into the Sustainable Development Goals period, as per the World Health Organization. Between 2000 and 2017, worldwide health spending rose by 3.9 percent per year in real terms, while the GDP grew by 3% per year. Canada is one of many countries that provide excellent healthcare. The government has built a well-balanced healthcare system for its citizens.

Market Restraining Factors

A shortage of stable contracts, little use of technology, and a lack of capabilities & resources.

Several large organizations with large investment amount normally do not suffer such difficulties because they enter into long-term contracts. In addition, huge businesses frequently use novel technology to deliver both soft & hard services, allowing them to give better and upgraded services. Small & medium-sized businesses, on the other hand, suffer similar issues regularly due to a shortage of financial resources & funding in the country. Additionally, the infrastructure sector’s rapid growth necessitates the hiring of more workers, which has an impact on domestic facility management all over the country.

Location Outlook

Based on Location, the market is segmented into On-site and Off-site. The on-site segment acquired the highest revenue share in the healthcare facility management market in 2021. The increasing need for better health facilities, as well as the increasing acceptance of outsourced facility management services, might be related to this segment’s rise. Additionally, the majority of healthcare facility management services are handled efficiently on-site.

Setting Outlook

Based on Setting, the market is segmented into Acute, Post-acute, and Non-acute. The acute segment acquired the highest revenue share in the healthcare facility management market in 2021. Acute care is a type of secondary health care in which a patient receives active but brief therapy for a serious accident or disease, an urgent medical condition, or during surgery recovery. Acute care, or short-term care, is the polar opposite of chronic care, or long-term care, in medical language.

Service Outlook

Based on Service, the market is segmented into Construction Services, Energy Services, and Hard Services. The hard services segment garnered a significant revenue share in 2021 because of the rapid rise of the building & construction industry as a result of increased urbanization around the world. Other reasons responsible for growth in hard service segment are like increased emphasis on healthcare HVAC, ventilation, mechanical, and electrical services, as well as the integration of modern technology to conduct these services. Cleaning, plumbing and drainage, building fabric maintenance, and other hard services are included in the section. These services are associated with the physical part of the building.

Energy Services Type Outlook

Based on Energy Services Type, the market is segmented into Energy Management and Others. The energy management sub-segment acquired the highest revenue share in the healthcare facility management market in 2021. The practice of tracking and optimizing energy consumption in order to save energy in a facility is known as energy management. The process of energy management can be broken down into a few steps: Continuous data collection and analysis. To increase energy efficiency, look for ways to enhance machinery schedules, setpoints, and flow rates.

Hard Services Type Outlook

Based on Hard Services Type, the market is segmented into Plumbing, Air Conditioning, & Maintenance, Fire Protection, Mechanical & Electrical Maintenance, and Others. The Plumbing, Air Conditioning & Maintenance sub-segment acquired the highest revenue share in the healthcare facility management market in 2021. Plumbing refers to any system that transports fluids for a variety of purposes. To transport fluids, plumbers employ pipes, valves, plumbing fittings, tanks, and other devices. Plumbing is used for a variety of purposes, including heating and cooling, waste collection, and potable water delivery, but it is not restricted to these. Plumbing infrastructure is vital to public health and sanitation in the developed countries.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North American region acquired the largest revenue share in the healthcare facility management market in 2021. Due to its robust healthcare infrastructure & the development of new technologies for healthcare facilities management. The general state of the healthcare infrastructure in North America varies substantially. The region’s hospitals enjoy a strong market position, and several have developed a basic healthcare facility management system. The healthcare facilities management industry is being propelled forward by the area’s expanding older population and the incidence of chronic disorders. Due to the cancellation or postponement of elective surgeries and a reduction in hospitalizations, medical waste generation in the United States has dropped.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, CBRE GROUP, INC., GSH Group, Sodexo S.A., Medxcel Facilities Management, LLC, ISS Group, Johnson Controls International PLC, ABM Industries, Inc., and Fortive Corporation (Accruent).

Strategies deployed in Healthcare Facility Management Market

Mar-2022: CBRE unveiled the expertise business services. These services aimed to assist healthcare & education real estate services in India and would offer substantial growth capabilities & investment opportunities.

Mar-2022: Sodexo expanded its largest unified services healthcare client in the United States, University Hospitals (UH). Under this expansion, Sodexo gives UH a breadth of services comprising patient nutrition & retail food, healthcare technology management, and facilities and construction management.

Feb-2022: GSH Group took over TeamQ, a facilities maintenance provider. TeamQ assists the group’s ambitions to attain substantial growth & improve service delivery in the UK. In addition, it has access to important GSH Group resources & assists functions comprising cutting-edge sustainability & energy management services to expand the breadth of FM services at the highest service levels.

Feb-2022: Accruent formed a partnership with Advanced Idea Automation Services & Technologies (AIASTECH). The partnership aimed to provide the following value proposition to the customers’ expert services for developing Operation & Maintenance Procedures, JSA, Instrument Calibration Procedure/Model, Asset Database, Workflow as per ISO and Industrial standards.

Sep-2021: ABM Industries took over Able Services, an industry-leading provider of Facility Engineering and Integrated Facility Management solutions. With this acquisition, the companies would further address clients’ requirements & cost-effective solutions to the full extent, assisted by a national pathway, comprehensive facility services.

Feb-2021: Sodexo came into partnership with PartSource, a Canadian automotive parts retail chain. The partnership aimed to improve healthcare technology management for their healthcare clients over North America. This strategic partnership would expand the present capabilities of Sodexo Healthcare, whose clients would relish optimized performance, propelled by an evidenced-based approach to healthcare technology management, and a wide range of analytics to serve improved results.

Jul-2020: Accruent expanded its product line with enhanced two of its main healthcare asset management products, Connectiv and Accruent Data Insights. With these latest improvements, the company would add additional tools to Accruent’s healthcare platform to assist organizations to handle the overall asset lifecycle, from pre-assessment and acquisition to assist & final disposition.

Scope of the Study

Market Segments covered in the Report:

By Location

• On-site

• Off-site

By Setting

• Acute

• Post-acute

• Non-acute

By Service

• Construction Services

o Building Construction

o Building Repair, Maintenance, Testing, & Inspection

o Others

• Energy Services

o Energy Management

o Others

• Hard Services

o Plumbing, Air Conditioning, & Maintenance

o Fire Protection

o Mechanical & Electrical Maintenance

o Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• 3M Company

• CBRE GROUP, INC.

• GSH Group

• Sodexo S.A.

• Medxcel Facilities Management, LLC

• ISS Group

• Johnson Controls International PLC

• ABM Industries, Inc.

• Fortive Corporation (Accruent)

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