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According to the latest report by IMARC Group, titled “Healthcare Facilities Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global healthcare facilities management market size reached a value of US$ 307.27 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 548.52 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027.
Market Summary:
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