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The Healthcare Facilities Management Market is valued at approximately USD 224,830 million in 2020 and is expected to witness a revenue of USD 360,250 million in 2026, with a CAGR of 8.2% over the forecast period.
The COVID-19 pandemic is expected to extensively widen the growth of the healthcare facilities market globally. With the rise in the number of COVID-19 patients, an increase in the number of diagnostics and treatments for COVID-19 is expected, which in turn is predicted to result in the production of huge amounts of medical waste. Additionally, the management of in-patient and out-patient services during Pandemic is of utmost importance, given social distancing. Additionally, hygiene maintenance plays a critical role to combat the COVID-19 situations. According to the Centers for Disease Control and Prevention (CDC), Healthcare facilities need to provide care for all patients in the safest way possible for patients and healthcare personnel as a response to COVID-19. Hence, given the above-mentioned factors, healthcare facilities management is in great demand during the pandemic.
The healthcare facilities management market is predicted to witness rapid growth due to rising global healthcare expenditures, along with an increase in the occurrence of chronic diseases, and increasing medical tourism in emerging countries.
Healthcare has become one of the leading sectors, owing to the increasing number of patients and rising healthcare expenditure by the public, as well as private players in healthcare systems. As per the data published by the Centers for Medicare and Medicaid Services (CMS), in the United States, national healthcare spending is projected to grow at an average rate of 5.5% per year during 2018-2027, to reach nearly USD 6.0 trillion by 2027. Healthcare spending is projected to grow 0.8% faster than the GDP per year, over 2018-2027. As a result, the healthcare share of GDP is expected to rise from 17.9% in 2017 to 19.4% by 2027. Thus there has been exceptional growth in the healthcare expenditures that have led to the development of various facilities in hospitals or clinics for the well-being of patients, and thus, this factor is expected to augment the growth of the market studied.
Furthermore, the rapid increase in medical tourism in the emerging economies such as China and India act as lucrative markets for the players for investments. According to the Organisation for Economic Cooperation and Development (OECD), Health at a Glance, 2019 report, the health expenditure per capita in China accounted to nearly 20% of the OECD per capita spending level in 2018. Thus, the aforementioned factors are expected to fuel the growth of the healthcare facilities management market over the forecast period.
Scope of the Report
As per the scope of the report, healthcare facilities management is a professional management authority which generally focuses on the delivery of services & support system to different healthcare organizations. The healthcare facilities management market is segmented by product type, end user, and geography. By product type, the market is segmented into waste management, security services, catering services, cleaning services, technical support services, and other products. By end user, the market is segmented into hospitals and clinics, long-term healthcare facilities, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (in USD million) for the above segments.
|By Product Type|
|Technical Support Services|
|By End User|
|Hospitals and Clinics|
|Long-term Healthcare Facilities|
|Other End Users|
Key Market Trends
Waste Management is Expected to Witness Good Growth Over the Forecast Period in the Healthcare Facilities Management Market
Healthcare establishments generate a huge quantity of both hazardous and non-hazardous wastes daily. These wastes are generated as a result of the diagnosis, and treatment of human and animal diseases. These hazardous wastes, when inappropriately managed may compromise the quality of patient care. These wastes may enhance environmental pollution and spread infectious diseases, including acquired immunodeficiency syndrome (AIDS), hepatitis, tuberculosis, diphtheria, cholera, and many others.
According to the World Health Organization, 2020, there are increased volumes of discarded materials from health protection activities, medical diagnosis, treatment, and scientific research during the COVID-19 pandemic and the safe, efficient disposal of this medical waste is a critical component in the effective management of COVID-19 globally. Hence COVID-19 is expected to have a significant impact on the growth of the studied segment during the pandemic.
Furthermore, the Secretary-General of the United Nations (UN) issued a ‘global call to action’ in 2018, to elevate the importance of, and prioritize action on, water, sanitation, healthcare waste management, hygiene, and environmental cleaning infrastructure, and services in all healthcare facilities, including primary, secondary and tertiary facilities in the private and public sectors. Additionally, according to the data published by the World Health Organization (WHO) on healthcare waste, in 2018, the high-income countries generate, on an average, up to 0.5 kg of hazardous waste per hospital bed per day, while low-income countries generate, on an average, up to 0.2 kg. Additionally, as per the Central Pollution Control Board (CPCB), India had generated nearly 28,468.85 tonnes of COVID-19 related bio-medical waste from June to November 2020. These healthcare wastes may pose health risks, indirectly through the release of pathogens and toxic pollutants into the environment. Thus the healthcare providers are on verge of establishing and implementing programs for the effective management of healthcare wastes, which is likely to impact the growth of the market.
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North America is Expected to Hold a Major Share of the Market in the Forecast Period
North America is anticipated to dominate the healthcare facilities management in the forecast period due to the robust healthcare infrastructure and the introduction of different technologies for healthcare facilities management that is expected to fuel the growth of the market.
The overall condition of the healthcare infrastructure also varies widely in the North American region. Hospitals present are found to have with strong market position and some hospitals have established a basic healthcare facility management. According to the Population Reference Bureau's Population Bulletin" Aging in the United States the Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. The rising geriatric population and increasing chronic diseases across the region are augmenting the growth of the healthcare facilities management market in the forecast period.
Though there is an increasing demand for waste management during the COVID-19 pandemic, according to the research article published in Waste360, 2020, the United States has experienced a reduction of medical waste production due to the cancellation or delay of the elective surgeries as well as a reduction in hospitalizations. Hence, Covid-19 is expected to have a significant impact on the management of waste generated in the treatment of COVID-19 patients alone in the region.
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The Healthcare Facilities Management Market is highly competitive and consists of several major players. The key players of the studied market comprise ABM Industries Inc., Aramark Corporation, Ecolab Inc., Iss World Services A/S, Serco Group plc, and Sodexo among others. The players involved in the global market of healthcare facilities management are found focusing on providing recent technologies and cost-effective services. The key players present in the market are also in the process of introducing advanced products to improve treatment efficiency, in turn, capturing a higher market share.
In December 2020, ISS Facility Management service launched a new disinfection and hygiene solution, Pure Space, that works by analyzing all traffic and touchpoints, identifying high-touch surfaces, and tailors a suitable hygiene plan for that environment. It ensures that high-touch areas remain safe for hours after they have been disinfected.
In October 2020, the National Cooperative Development Corporation (NCDC) announced the plan to launch a scheme, named Ayushman Sahakar, to involve co-operatives in creating healthcare infrastructure and facilities.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growth in Healthcare Expenditures
4.2.2 Increase in Occurrence of Chronic Diseases
4.2.3 Increasing Medical Tourism in Emerging Countries
4.3 Market Restraints
4.3.1 Gap between Providers and Payers
4.3.2 Lack of Investment in Facilities Management in Low-income Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Waste Management
5.1.2 Security Services
5.1.3 Catering Services
5.1.4 Cleaning Services
5.1.5 Technical Support Services
5.1.6 Other Products
5.2 By End User
5.2.1 Hospitals and Clinics
5.2.2 Long-term Healthcare Facilities
5.2.3 Other End Users
5.3.1 North America
220.127.116.11 United States (By Product Type and By End User)
18.104.22.168 Canada (By Product Type and By End User)
22.214.171.124 Mexico (By Product Type and By End User)
126.96.36.199 Germany (By Product Type and By End User)
188.8.131.52 United Kingdom (By Product Type and By End User)
184.108.40.206 France (By Product Type and By End User)
220.127.116.11 Italy (By Product Type and By End User)
18.104.22.168 Spain (By Product Type and By End User)
22.214.171.124 Rest of Europe (By Product Type and By End User)
126.96.36.199 China (By Product Type and By End User)
188.8.131.52 Japan (By Product Type and By End User)
184.108.40.206 India (By Product Type and By End User)
220.127.116.11 Australia (By Product Type and By End User)
18.104.22.168 South Korea (By Product Type and By End User)
22.214.171.124 Rest of Asia-Pacific (By Product Type and By End User)
5.3.4 Middle East and Africa
126.96.36.199 GCC (By Product Type and By End User)
188.8.131.52 South Africa (By Product Type and By End User)
184.108.40.206 Rest of Middle East and Africa (By Product Type and By End User)
5.3.5 South America
220.127.116.11 Brazil (By Product Type and By End User)
18.104.22.168 Argentina (By Product Type and By End User)
22.214.171.124 Rest of South America (By Product Type and By End User)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 ABM Industries Inc.
6.1.2 Aramark Corporation
6.1.3 Ecolab Inc.
6.1.4 Iss World Services A/S
6.1.5 Jones Lang LaSalle
6.1.6 Medxcel Facilities Management
6.1.7 Ocs Group
6.1.8 Serco Group plc
6.1.10 Vanguard Resources Inc
6.1.11 Mitie Group plc
6.1.12 Compass Group plc
6.1.13 Manutencoop Facility Management S.p.A. (MFM)
6.1.14 UEM Edgenta Berhad
6.1.15 Siegel-Gallagher Management Company, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Healthcare Facilities Management Market market is studied from 2018 - 2026.
What is the growth rate of Global Healthcare Facilities Management Market?
The Global Healthcare Facilities Management Market is growing at a CAGR of 8.2% over the next 5 years.
What is Global Healthcare Facilities Management Market size in 2018?
The Global Healthcare Facilities Management Market is valued at 224830 Million USD in 2018.
What is Global Healthcare Facilities Management Market size in 2026?
The Global Healthcare Facilities Management Market is valued at 360250 Million USD in 2026.
Which region has highest growth rate in Global Healthcare Facilities Management Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Healthcare Facilities Management Market?
North America holds highest share in 2020.
Who are the key players in Global Healthcare Facilities Management Market?
- ABM Industries Inc.
- Aramark Corporation
- Ecolab Inc.
- Iss World Services A/S
Are the major companies operating in Global Healthcare Facilities Management Market.