Healthcare facility management measures to ensure the safe and environmentally sound management of health care wastes can prevent adverse hazardous wastes which are present in hospitals and the environment. The growth in awareness of public health, sanitation, and biological wastes expand the global market for healthcare facility management. Market growth will also be navigated by an increase in R&D and the development of more advanced technologies such as IoT and Key performance indicators (KPIs). According to the World Health Organization (WHO), Globally, as many as 4 in 10 patients are harmed in primary and outpatient health care. Up to 80% of harm is preventable. The most detrimental errors are related to diagnosis, prescription, and the use of medicines. Therefore, the increase in cases of several other chronic diseases such as an increasing population base suffering from lifestyle-associated diseases and sanitation in the environment will activate the market revenue.
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According to UnivDatos Market Insights (UMI)’ research report “Healthcare Facility Management Market”, the market is expected to witness a CAGR growth of around 10% during the forecast period 2021-2027F. This can be mainly attributed to an increase in government funding coupled with the rising number of research institutes getting involved in discovering new technologies and therapies, including Healthcare Facility Management.
Based on Product Type, the market is bifurcated into waste management, security services, catering services, cleaning services, technical support services, and others. Among these, the waste management category accounted for the major share in the global healthcare facility management. Due to this waste may improve environmental health and this leads to an increase in healthcare expenditure, and growing occurrences of lifestyle-associated diseases such as asthma, diabetes, HIV, and other chronic diseases. According to the World Health Organization, the total amount of waste generated by healthcare activities, about 85% is general, non-hazardous waste. The high prevalence of chronic diseases coupled with a high treatment rate, the presence of advanced technology, and government initiatives to increase the treatment rate and sanitation of the environment is estimated to drive the market at a higher growth rate.
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Based on End User, the market is bifurcated into hospitals and clinics, long-term healthcare facilities, and others. In 2020, the hospital's category accounted for the majority share in the global market. Furthermore, the availability of advanced equipment, which has higher accuracy and features to perform multiple tests and increases awareness about the sanitation required to avoid the development of diseases and awareness regarding the condition for controlling the contamination of the environment. According to the World Health Organization, each year 134 million adverse events occur in hospitals in low- and middle-income countries (LMICs), due to unsafe care, resulting in 2.6 million deaths. Furthermore, the presence of well-established infrastructure in hospitals, better reimbursement policies, and availability of advanced technologies and well-trained healthcare professionals for the well-being of patients is also one of the main reasons why patients prefer hospitals & clinics for good facilities.
North America is expected to witness the highest growth
Based on regions, the report provides a detailed analysis of the overall demand for Healthcare Facility Management for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific); and Rest of World. The growing aging population coupled with the presence of major healthcare companies in the region would increase the development of devices and therapies for the treatment of chronic diseases and the cleanliness of hazardous wastes in countries such as India, China, and other developing Asian countries.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Healthcare Facility Management are ABM Industries Inc., Aramark Corporation, Ecolab Inc., ISS A/S Group, Sodexo Group, Compass Group Plc., Jones Lang LaSalle Inc., Medxcel Facilities Management LLC, Mitie Group plc., Serco Group Plc. These companies are investing heavily in Healthcare Facility Management and assay kits to help research organizations in their studies.
- In October 2020, Ecolab joins together with Water.org to provide access to clean, safe, and sustainable water. On the sixth annual Imagine a Day without Water, Ecolab announces a collaboration with Water.org to help provide access to sustainable water and improved sanitation in at-risk watersheds in India.
- In December 2020, the ISS Facility Management service debuted Pure Space, a new disinfection and hygiene system that analyses all traffic and touchpoints, identifies high-touch surfaces, and tailors a suitable hygiene strategy for that environment. It ensures that high-touch areas are safe for hours after they have been cleansed.
“Healthcare Facility Management” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
- By Product type (Waste Management, Security Services, Catering Services, Cleaning Services, Technical Support Services, And Others)
- By End-user (Hospitals and Clinics, Long-Term Healthcare Facilities, Others)
- By Region (North America, Europe, Asia-Pacific, Rest of World)
- By Company (ABM Industries Inc., Aramark Corporation, Ecolab Inc., ISS A/S Group, Sodexo Group, Compass Group Plc., Jones Lang LaSalle Inc., Medxcel Facilities Management LLC, Mitie Group plc., Serco Group Plc.)
Key questions answered in the study:
- What are the current and future trends in the Healthcare Facility Management industry?
- How the industry has been evolving in terms of distribution channel and route of administration category?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Healthcare Facility Management industry?
- What is the customer orientation, purchase behavior, and expectations from the Healthcare Facility Management product suppliers across various countries?
Table of Content –
- MARKET INTRODUCTION
- RESEARCH METHODOLOGY OR ASSUMPTION
- MARKET SYNOPSIS
- EXECUTIVE SUMMARY
- HEALTHCARE FACILITY MANAGEMENT MARKET COVID-19 IMPACT
- HEALTHCARE FACILITY MANAGEMENT MARKET REVENUE, 2019-2027F
- MARKET INSIGHTS BY Product Type
- MARKET INSIGHTS BY End User
- MARKET INSIGHTS BY REGION
- HEALTHCARE FACILITY MANAGEMENT MARKET DYNAMICS
- HEALTHCARE FACILITY MANAGEMENT MARKET OPPORTUNITIES
- HEALTHCARE FACILITY MANAGEMENT MARKET TRENDS
- LEGAL & REGULATORY FRAMEWORK
- DEMAND AND SUPPLY SIDE ANALYSIS
- COMPETITIVE SCENARIO
- COMPANY PROFILED COMPANY PROFILED
- DISCLAIMER
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