Global Healthcare Facilities Management Market to Reach US$ 596.0 Billion by 2028, Propelled by Outsourcing Facility Management Services

July 25, 2022 | Healthcare

According to the latest report by IMARC Group, titled “Healthcare Facilities Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global healthcare facilities management market size reached US$ 342.0 Billion in 2022. Healthcare facilities management includes various tools and services that are necessary to maintain a dynamic and clean space and provide a safe and reliable environment of care (EoC) for the patients. It aids in planning and executing resources effectively, thereby improving patient care. This encompasses multiple aspects of facility upkeep, such as catering, cleaning, development, maintenance, operations, and security. In addition to managing capital plans for future facility investments, healthcare facility management involves maintaining facilities and assets as well as managing projects within budget and schedule. As a result, it finds extensive applications across clinics, long-term institutions, surgical centers, and hospitals.

Global Healthcare Facilities Management Market Trends:

The global market is majorly driven by the outsourcing of facility management services in the healthcare sector. This can be attributed to a considerable rise in healthcare expenditure by the major players. Apart from this, the growing concerns regarding the effective management of large amounts of hazardous and non-hazardous medical waste with an enhanced focus on sustainable development are providing an impetus to the market. The increasing prevalence of chronic diseases is also contributing to the market growth on the global level. The market is further driven by the rapid incorporation of advanced technologies, such as artificial intelligence (AI) and the internet of things (IoT), in medical operations. Some of the other factors that are creating a positive outlook for the market include the rising medical tourism activities, growing investments in healthcare infrastructure, and augmenting consciousness regarding hygiene across healthcare facilities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 596.0 Billion by 2028, exhibiting a CAGR of 9.2% during 2023-2028.

Market Summary:

Based on the service type, the market has been segmented into property, cleaning, security, catering, support and environmental management services.
On the basis of the business model, the market has been divided into outsourced and in-house.
Based on the end user, the market has been categorized into hospitals and clinics, long-term healthcare facilities, and others.
On the geographical front, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ABM Industries Inc., Aramark Corporation, Compass Group PLC, Ecolab Inc., International Business Machines Corporation, ISS A/S, Jones Lang LaSalle Incorporated, Mitie Group plc, OCS Group limited, Oracle Corporation, Serco Group plc, and Sodexo.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Service Type, Business Model, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABM Industries Inc., Aramark Corporation, Compass Group PLC, Ecolab Inc., International Business Machines Corporation, ISS A/S, Jones Lang LaSalle Incorporated, Mitie Group plc, OCS Group limited, Oracle Corporation, Serco Group plc and Sodexo.
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Global Healthcare Facilities Management Market to Reach US$ 596.0 Billion by 2028, Propelled by Outsourcing Facility Management Services

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