Healthcare Facilities Management Market Revenue to Attain USD 785.20 Bn by 2033

30 Dec 2024

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Table of Content

1. Healthcare Facilities Management Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Healthcare Facilities Management Market 4. Major Trends in the Healthcare Facilities Management Market 5. Regional Snapshot 6. Healthcare Facilities Management Market Coverage 7. Market News  8. Healthcare Facilities Management Market Key Players

Healthcare Facilities Management Market Revenue and Trends 2023 to 2033

The global healthcare facilities management market revenue surpassed USD 326.10 billion in 2024 and is predicted to attain around USD 785.20 billion by 2033, growing at a CAGR of 9.89%. Rising patient volumes and the growing focus on patient safety are major factors contributing to the growth of the healthcare facilities management market.

Market Overview

Healthcare facility management involves coordinating the various operations of the healthcare facility and ensuring the smooth running of the procedures. This includes managing the physical infrastructure as well as the day-to-day operations like appointments, managing staff, and ensuring compliance with regulations. It offers several advantages, like flexibility, better data management, transparency, and improved performance.

With the increasing population, the need for healthcare facilities is increasing. This further increases the demand for effective healthcare facilities management solutions. The rising prevalence of chronic diseases also creates a burden on the healthcare sector to deliver better-quality care and services.  However, healthcare facilities management solutions ensure compliance with regulatory standards, with a focus on enhancing patient safety.

Technological advancements can have a positive impact on the market. Implementing technologies like IoT accelerates healthcare operations, which offers real-time information through interconnected sensors to manage the business. Moreover, integrating AI technologies into healthcare management systems can improve patient care safety and quality and reduce costs. AI also assists hospitals and health systems in predicting and diagnosing diseases and provides insights for multidisciplinary care teams with precise treatment plans. For instance, in July 2024, in partnership with Amazon Web Services, GE Healthcare built a new generative artificial intelligence model and tool to analyze complex medical data efficiently. It offers medical imaging, ultrasound, patient care, and pharmaceutical diagnostic solutions with the help of generative AI.

Report Highlights of the Healthcare Facilities Management Market

• By service type, the soft services segment dominated the market with the largest share in 2024. These services involve non-technical tasks, such as waste management, cleaning & pest control, and laundry, that keep a building running smoothly. The increased need for waste management and cleaning services bolstered the segmental growth. On the other hand, the hard services segment accounted for a significant market share in 2024. Hard services refer to the technical and physical management and maintenance duties required for the efficient and safe operations of healthcare facilities. It includes systems equipment and infrastructure that need to be maintained and covers the repairs of boilers, chillers, HVAC systems, and other mechanical devices necessary to keep healthcare facilities control temperatures and humidity levels and air quality within acceptable bounds.
• By end user, the hospitals and clinics segment accounted for the largest share of the market in 2024. Hospitals and clinics are more complex facilities that require a wide range of services like maintenance, housekeeping, security, catering, and many more to ensure patient safety and quality of care.

Major Trends in the Healthcare Facilities Management Market

• Rising Usage of Smart Technologies: Healthcare facilities are increasingly shifting toward smart technologies that can improve efficiency and patient care. Healthcare facilities are also utilizing Internet of Things (IoT) devices to monitor and optimize energy consumption, equipment performance, and air quality, boosting the need for management solutions. In December 2024, FinalFilters.com launched Activated Carbon-Filled Final Filters for hospitals designed to remove orders and gases from the air stream, making them suitable for hospitals, laboratories, clean rooms, and other environments. Final Filters are a key component in every HVAC system. The primary function of these high-efficiency filters is to remove particulate matter from the air and capture anywhere between 80% and 99.99% of particles.  
• Stringent Regulatory Standards: Several regulations have been imposed by local, state, and government bodies on healthcare facilities, such as fire safety, patient safety, environmental protection, and infection control procedures. These rules help prevent illness from spreading among employees, patients, and visitors and improve patient safety. However, healthcare facilities management solutions maintain high standards of cleanliness and safety, contributing to market growth.
• The Rise of Telehealth and Increasing Need for Remote Monitoring: The shift toward remote monitoring eliminates the need for in-person visits, reduces hospital visits and costs, and allows healthcare providers to monitor health conditions and provide proper treatment plans remotely. Telehealth offers features like appointment scheduling, prescription reminders, and secure messaging to healthcare providers that positively impact the healthcare facilities management market. Integrating telehealth and remote monitoring data into electronic health records improves workflow efficiency for healthcare professionals. For instance, in August 2024, BayCare, in partnership with Cadence, launched the remote patient monitoring and responsive virtual care program, which provides proactive and preventive health care to seniors with chronic conditions and supports managing patients with hypertension, cognitive heart failure, and type 2 diabetes. It will capture the vitals like weight, blood pressure, heart rate, and glucose levels that can be shared with the patient's primary care physicians and provide precise treatment.

Regional Snapshot

North America dominated the global healthcare facilities management market with the largest share in 2024. This is mainly due to the presence of well-established healthcare organizations and advanced technologies for healthcare facilities. Moreover, the rising elderly population and prevalence of chronic diseases have increased the need for advanced healthcare facilities management solutions within the region.

Asia Pacific is expected to be the fastest-growing region in the market in the coming years. This is mainly due to the increasing government funding in advancing healthcare infrastructure. The increasing healthcare expenditures and a strong focus on patient safety drive the market within the region. Moreover, rising medical tourism and increasing adoption of cutting-edge healthcare technologies create several opportunities for healthcare facilities management companies operating in the region.

Healthcare Facilities Management Market Coverage

Market News 

• In October 2024, PureHealth launched a new hybrid technology platform to connect remote and in-hospital healthcare services, enhancing patient access to a wide range of specialties in remote areas. It will enable patients to undergo comprehensive remote examinations and provide them with immediate healthcare from specialized professionals and follow-up consultations for ongoing treatment.
• In April 2024, the Government of India launched the ‘myCGHS’ app for iOS to provide central government health scheme beneficiaries access to electronic health records, information, and resources which provides a wide range of services like booking and cancellation of online appointments, accessing reports from CGHS labs, checking medical reimbursement claims status and locating nearby Wellness centers.

Healthcare Facilities Management Market Key Players

• ABM Industries Inc
• ISS World Services A/S
• Jones Lang LaSalle, IP, Inc
• Manutencoop Facility Management S.p.A.
• Medxcel Facility Management
• Mitie Group plc
• Aramark Corporation
• Compass Group plc
• Ecolab, Inc.
• OCS Group
• Secro Group plc
• Sodexo
• Vanguard Resources
• UEM Edgenta Berhad

Market Segmentation

By Service Type

• Hard Services
  • Mechanical and Electrical Maintenance
  • Plumbing, Air Conditioning Maintenance
  • Fire Protection Systems
  • Others
• Soft Services
  • Laundry
  • Waste Management
  • Cleaning & Pest Control
  • Catering
  • Security
  • Others

By End User

• Hospitals and Clinics
• Long-Term Healthcare Facilities
• Others

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