Healthcare facility management refers to services that support the efficient and effective operations of healthcare institutions. It involves various services such as asset management, engineering/maintenance services, cleaning services, catering, security, and laundry. Technological advancements such as smart building technologies are being incorporated to optimize processes, reduce costs, and enhance patient and staff experience.
The global Healthcare Facilities Management Market is estimated to be valued at US$ 398396.4 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the healthcare facilities management market is increasing adoption of smart building technologies. Smart building technologies help in efficient management of the building infrastructure by integrating various mechanical and electronic systems including heating, ventilation, air conditioning, lighting and facility management. This allows remote monitoring and control of these systems to optimize energy usage, reduce costs and enhance the overall experience of patients and staff. For example, Smart HVAC systems allow remote monitoring and control of temperature and airflow according to occupancy and needs. Similarly, integration of AI and IoT enables predictive maintenance of equipment to reduce downtime. Thus, convergence of smart building technologies with facility management solutions is expected to propel the market growth over the forecast period.
Segment Analysis
The global healthcare facilities management market is segmented by service type and end user. By service type, the hard services segment is expected to dominate the market during the forecast period. Hard services such as plumbing and air conditioning require regular maintenance and repairs to ensure smooth functioning of the healthcare facilities. This drives the demand for healthcare facilities management services under the hard services segment.
By end user, the hospitals segment holds the highest market share. Hospitals cater to a large number of patients daily which increases the wear and tear of healthcare infrastructure and equipment. They require professional facilities management services to ensure a clean, hygienic, and well-maintained environment for effective patient care and treatment. This makes the hospitals segment the largest end user of healthcare facilities management services.
Key Takeaways
The Global Healthcare Facilities Management Market Size is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis: North America is projected to dominate the global healthcare facilities management market during the forecast period. This can be attributed to the growing aging population, increased healthcare expenditure, and rising prevalence of chronic diseases in the region. The presence of major healthcare facilities management service providers is also boosting the market growth in North America.
The Asia Pacific market is anticipated to exhibit the fastest growth. Rapidly increasing healthcare infrastructure development and growing medical tourism in the emerging economies of China and India are fueling the demand for healthcare facilities management services in the region.
Key players operating in the healthcare facilities management market include Sony, Samsung, OmniVision, ON Semiconductor, Canon, SK Hynix, STMicroelectronics, Panasonic, Teledyne Technologies, Hamamatsu Photonics, Infineon Technologies, ams, Himax Technologies, Gpixel, New Imaging Technologies, Sharp, Lite-On Technology Corporation, and Winbond Electronics Corporation. These players are focusing on strategic collaborations and partnerships to expand their service offerings and geographical presence in the healthcare facilities management industry.
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