Global Healthcare Facility Management Market

Healthcare Facility Management Market Size, Share, Growth Analysis, By Business Model(Outsourced, and In-house), By End-user(Hospitals and Clinics, Long-term Healthcare Facilities), By Service(Property Services, Cleaning Services) - Industry Forecast 2024-2031

Report ID: SQMIG35A2867 | Region: Global | Published Date: April, 2024
Pages: 209 | Tables: 92 | Figures: 76

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Healthcare Facility Management Market size was valued at USD 286.75 Billion in 2022 and is poised to grow from USD 318.58 Billion in 2023 to USD 739.49 Billion by 2031, growing at a CAGR of 11.1% in the forecast period (2024-2031).

The competitive environment of the Healthcare Facility Management Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. 'ABM (U.S.)', 'Aramark Corporation (U.S.)', 'Ecolab (U.S.)', 'ISS Group (Denmark)', 'Sodexo (France)', 'Compass Group PLC (U.K.)', 'Jones Lang LaSalle IP, Inc. (U.S.)', 'Medxcel (U.S.)', 'Mitie Group plc. (U.K.)', 'IBM (U.S.)', 'Serco Group plc (U.K.)', 'Vanguard Resources (U.S.)', 'UEM Edgenta Berhad (Malaysia)', 'B38 Group (U.K.)', 'SMS Integrated Facility Services Private Limited (India)', 'Oracle (U.S.)', 'Planon (Netherlands)', 'Founders 3 Real Estate Services (U.S.)', 'Accruent (U.S.)', 'OCS Group Limited (U.K.)'

The demand for support services in the industry is growing rapidly as hospitals and other healthcare facilities focus on providing high quality care to patients. A motivated and well-rounded support services team can help medical facilities by reducing the workload of medical staff, speeding up patient access to treatment, as well as increasing nurse, patient and family satisfaction by fostering a safe environment. Most healthcare organizations are also heavily reliant on IT and telecommunications infrastructure. Thus, widespread adoption of telehealth and other technological initiatives in healthcare organizations is expected to create new opportunities for market providers during the forecast period. Furthermore, healthcare IT can have an impact in increasing access to quality healthcare services. Thus, the rapidly growing digitization in the healthcare industry is one of the major factors expected to drive the growth of the market.

Growing Smart City Planning & Hospitality Industry to Drive the Market Growth: The managed enterprise sector is expected to exhibit significant growth across the globe during the forecast period owing to increasing government strategies for smart city development across sectors. Additionally, with the development of smart cities, there is an abundance of large public buildings such as airports, malls, universities, hospitals and seaports, which has led to an increase in the demand for these services.

North America is expected to account for the largest share of the market during the forecast period owing to rise in chronic and infectious diseases, increasing number of hospitalizations, increasing hospitalizations and for improved health care in the region. According to Association (AHA) statistics, there are approximately 6,093 active hospitals in the United States. In addition, the demand for or use of healthcare facility management services or solutions is also rapidly increasing due to the aging population and the increasing prevalence of chronic diseases in the US.

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