Healthcare Facilities Management Market is Projected to Surpass US$ 473.2 Bn by 2027

Precedence Research recently published a report on “Healthcare Facilities Management Market (By Hard Services Type: Plumbing, Fire Protection Systems, Mechanical and Electrical Maintenance, Air Conditioning Maintenance, Others; By Soft Services: Security, Laundry, Cleaning & Pest Control, Catering, Waste Management, Others) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, the global healthcare facilities management market value is projected to reach US$ 473.2 billion by 2027, rising at a CAGR of 13.01% from 2020 to 2027.

Healthcare facility management services are non-core services of a healthcare facility that have appeared as indispensable services in the expedition to deliver good in-patient care and competent running of a healthcare capacity. Healthcare facility management service suppliers are approving innovative ICT to address the growing prospects of healthcare organizations.

Health facilities management has existed as its own specialization inside the facility management industry. Medical buildings like hospitals would subcontract non-clinical tasks to generate sterile working circumstances whereas they dedicated on offering patient care. At present, health and FM are no longer identical with Health Facilities Management (HFM) associated with the medical industry but as one of the budding novel trends within facility management that manages facilities for wellbeing and health.

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Growth Factors

Currently, occurrences of chronic and rare diseases and elevated geriatric population in Europe and North America demanding sophisticated medical facilities. This is leading to escalation in the number of healthcare facilities that supports the growth of healthcare facility management services. Further, IoT and supplementary new ICT (Information and Communication Technology) are flourishing the healthcare facility management market.

There has been upsurge in the amount of international and national facility management contracts all over the globe. In 2000, there were only a few international facility management contracts, which in future on augmented to double digits by 2010. This comprised a growth in international healthcare facility management contracts. Such growth in various types of contracts is fueling growth of healthcare facility management market.

Report Highlights

• Soft healthcare facility management services segment is anticipated to occupy major market share than the hard healthcare facility management services segment. Hard services segment is also projected to increase at a higher pace during the estimate period.
• Recognized companies are centering on intensifying their service base with by acquisitions of small-sized and niche companies functioning in the market. This benefits established players to incorporate novel technologies adopted by niche businesses.
• Real Time Location System for tracking of medical equipment, inventory management via low-cost Bluetooth Low Energy technology, collecting in-patient data via wearable and sensors and usage of mobile technology to distantly assess patient data are certain of the IoT-enabled services that are accepted by facility management service suppliers.

Regional Snapshots

In 2019, North America dominated the healthcare facilities management on account of vigorous healthcare infrastructure and the introduction of diverse technologies for healthcare facilities management. North America is expected to further mirror this dominance throughout the forecast period on account rising awareness regarding healthcare sector growth in the region.

Healthcare institutions produce a huge amount of both non-hazardous and hazardous wastes daily. These wastes are produced as a result of the treatment, diagnosis, and research on animal and human diseases. These hazardous wastes, when incorrectly managed may compromise the worth of patient care. These wastes may increase environmental pollution and spread infectious illnesses such as hepatitis, acquired immunodeficiency syndrome (AIDS), diphtheria, cholera, and tuberculosis among others.

In 2018, in Switzerland, as per the Organization for Economic Co-operation and Development (OECD), the average per capita healthcare expenditure was about USD 7,317 and was around USD 5,299 in Denmark. Thus growing concerns towards healthcare waste management and rising healthcare expenditure are driving the growth of global Healthcare facility management services market.

Key Players & Strategies

The snowballing level of specialization within the health sector leads more progressive demands from services and FM industry customers. Agencies and competitors are concentrating on evolving niches in the health industries that could attain market success over comprehensive service providers as the requirement for advanced services touches an acute threshold.

Industry value chain of the healthcare facility management market includes of raw material providers, healthcare facility management service providers, and end users. Suppliers of raw material to this industry can be either in-house personnel or third party suppliers, as per the approach accepted by a facility management service provider. There has been a rise in the amount of acquisition and mergers among service providers. Clinics and hospitals are anticipated to witness gainful progress on account of rising awareness about the sanitation needed to evade scattering of diseases and responsiveness concerning the requirement for controlling the pollution of the environment.

Some of the foremost players functioning in the healthcare facility management marketplace are Manutencoop Facility Management S.p.A. (MFM), ABM Industries Inc., Compass Group plc, Ecolab, Inc., ISS World Services A/S, Aramark Corporation, Jones Lang LaSalle, IP, Inc., Medxcel Facility Management, Mitie Group plc, Sodexo, Vanguard Resources, and UEM EdgentaBerhad, OCS Group, Secro Group plc and others.

Market Segmentation

By Service Type

• Hard Services
• Soft Services

By Hard Service Type

• Mechanical and Electrical Maintenance
• Plumbing, Air Conditioning Maintenance
• Fire Protection Systems
• Others

By Soft Service Type

• Laundry
• Waste Management
• Cleaning & Pest Control
• Catering
• Security
• Others

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Key Takeaways

• Comprehensive analysis of the healthcare facilities management market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global healthcare facilities management market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Healthcare Facilities Management Market, By Service

7.1. Healthcare Facilities Management Market, by Service Type, 2020-2027
7.1.1. Hard Services
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Soft Services
7.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Healthcare Facilities Management Market, By Hard Service

8.1. Healthcare Facilities Management Market, by Hard Service, 2020-2027
8.1.1. Mechanical and Electrical Maintenance
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Plumbing, Air Conditioning Maintenance
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Fire Protection Systems
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Healthcare Facilities Management Market, By Soft Service

9.1. Healthcare Facilities Management Market, by Soft Service, 2020-2027
9.1.1. Laundry
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Waste Management
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Cleaning & Pest Control
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Catering
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Security
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Healthcare Facilities Management Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Service (2016-2027)
10.1.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.1.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Service (2016-2027)
10.2.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.2.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Service (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Service (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Service (2016-2027)
10.3.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.3.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Service (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Service (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Service (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Service (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Service (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Soft Service (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Service (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Hard Service (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Soft Service (2016-2027)

Chapter 11. Company Profiles

11.1. ABM Industries Inc
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. ISS World Services A/S
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Jones Lang LaSalle, IP, Inc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Manutencoop Facility Management S.p.A.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Medxcel Facility Management
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Aramark Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Mitie Group plc
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Compass Group plc
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Ecolab, Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. OCS Group
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Secro Group plc
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
11.12. Sodexo
11.12.1. Company Overview
11.12.2. Product Offerings
11.12.3. Financial Performance
11.12.4. Recent Initiatives
11.13. Vanguard Resources
11.13.1. Company Overview
11.13.2. Product Offerings
11.13.3. Financial Performance
11.13.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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