Healthcare Facility Management Market Revenue to Surpass $180,397 Million by 2030, says P&S Intelligence
NEW YORK, May 25, 2022 /PRNewswire/ -- According to the recent market research study published by P&S Intelligence, by 2030, the healthcare facility management market is set to reach $180,397.0 million from $88,114.0 million in 2021, growing at an 8.3% CAGR between 2021 and 2030. The impact of the COVID-19 pandemic was positive on the industry because hygiene has been considered vital to handling the situation. Additionally, the management of out-patient and in-patient sectors was very crucial.
The outsourcing category had an over 50% market share in 2021. The major reasons for outsourcing these services include the increasing healthcare costs, implementation of electronic health records, and difficulty of sophisticated ICD-10 medical coding systems. To keep the medical center clean and hygienic, while being committed to patient care, hospitals and other healthcare facilities outsource many non-clinical jobs, including medical waste disposal, cleaning, and property management.
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Key Findings of Healthcare Facility Management Market Report
- North America is dominating the healthcare facility management market because of its strong healthcare infrastructure and the implementation of enhanced facility management technologies in this sector.
- In April 2021, MTS Health Limited, a medical equipment asset management solution provider based in the U.K., was acquired by Sodexo.
- The National Cooperative Development Corporation (NCDC) launched the Ayushman Sahakar plan in October 2020, which includes co-operatives in the construction of healthcare infrastructure.
- According to the GSM Association, already in 2022, over half of the world's population has access to the internet via mobile phones. This is allowing telehealth technologies to readily reach a larger number of patients.
- One of the major factors for the healthcare facility management market advance is the fast technological advancements. This is expected to deliver healthcare providers several chances to increase operational efficiency and equipment uptime.
- The demand for soft services, including security, trash disposal and recycling, grounds management, and sanitization, which result in exceptional standards of cleanliness, customer service, and safety, are predicted to rise at the quickest rate throughout the projection period.
The support services demand is continuously growing, as medical institutions and hospitals focus on them to provide higher-quality care to patients. An integrated and engaged support staff may help medical centers by offering a safer environment, relieving the stress on healthcare personnel, helping patients recover faster, and increasing nurse, patient, and family satisfaction.
Browse detailed report on Global Healthcare Facility Management Market Trends, Business Strategies, Regional Outlook and Analysis Through 2030
To keep ahead of their competition, various major players in the healthcare facility management market are purchasing comparable companies and launching new services. These players are Compass Group PLC, Mitie Group plc, Jones Lang LaSalle IP, Serco Group PLC, ABM Industries Inc., Ecolab Inc., ISS World Services A/S, and Sodexo.
Healthcare Facility Management Market Segmentation Analysis
By Service
- Property
- Cleaning
- Security
- Catering
- Support
- Environmental Management
By Business Model
- Outsourced
- In-House
By Type
- Hard Services
- Soft Services
By End User
- Hospitals and Clinics
- Long-Term Healthcare Facilities
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- U.K.
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Argentina
- Middle East and Africa
- Saudi Arabia
- South Africa
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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