Press Release

Global Healthcare Facilities Management Market is Expected to Reach US$ 263,413 Mn by 2025

Date : Dec 14, 2018

New report published by Global QYResearch which offers insights on the global Healthcare Facilities Management market. The Healthcare Facilities Management market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Healthcare Facilities Management is expected to reflect a 2.0x increase in the revenue growth. In 2017 the global Healthcare Facilities Management market was valued at US$ 133,564 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 263,413 Mn growing at a value CAGR of 8.86% throughout the period of forecast.

Global Healthcare Facilities Management Market: Market Driver and Restraint

Public and private healthcare expenditure is rising in many countries across the world due to an increase in chronic and other diseases. In the era of globalization, private healthcare facilities such as hospitals and nursing homes are striving to provide best in class healthcare services to attract patients and increase their revenue. Healthcare facilities are focused on providing better medical services to patients. Non-core healthcare facility management services also play a vital role in the overall satisfaction of in-patients. This led healthcare facilities to outsource non-core healthcare facility management services to professional healthcare facility management service providers. Through this strategy, healthcare facilities are able to reduce their expenditure on non-core healthcare services. This is driving demand for healthcare facility management services worldwide.

There has been a rise in the number of national and international facility management contracts across the world. In 2000, there were only a handful of international facility management contracts, which later on increased to double digits by 2010. This included a rise in international healthcare facility management contracts. This factor is driving the global healthcare facility management market. Moreover, there has been a rise in the number of mergers and acquisition among healthcare facility management service providers.

Global Healthcare Facilities Management Market: Forecast by Type

The value chain of the global healthcare facility management market consists of raw material suppliers, healthcare facility management service providers, and end-use industries. Suppliers of raw material to healthcare facility management service providers can be either third party suppliers or in-house personnel, depending on the strategy adopted by a facility management service provider. Healthcare facility management service providers are offering technological and high-quality services to create service differentiation. Companies operating in the market also offer a range of value-added healthcare facility management services, including warranty and maintenance, to increase customer base and retain existing customers. Third-party raw material suppliers operating in the market are providing labor, cleaning chemicals, and maintenance equipment among others. However, sometimes healthcare facility management service providers face certain challenges related to third-party suppliers. For instance, the quality of cleaning chemicals may not up to the standard or they may face labor issues. This ultimately affects the image of a healthcare facility management company. Therefore, the choice of raw material suppliers plays a vital role in the overall quality of the healthcare facility management services provided by a facility management company.

Global Healthcare Facilities Management Market: Forecast by Application

Based on service, the global healthcare facility management market has been segmented into hard and soft services. The hard services segment has been further divided into various non-core healthcare services such as plumbing and air conditioning maintenance, fire protection systems, mechanical and electrical maintenance, and other hard services such as fabric maintenance. The soft services segment has been further categorized into cleaning and pest control, laundry, catering, security, waste management, and other soft services such as administrative services. The soft healthcare facility management services segment is expected to account for a higher market share than the hard healthcare facility management services segment. However, the hard services segment is anticipated to expand at a higher growth rate during the forecast period.

Global Healthcare Facilities Management Market: Forecast by Region

In terms of geography, the global healthcare facility management market has been divided into North America, Europe, Asia Pacific, Middle East &Africa, and South America. There is a steady rise in the growth of the aging population in countries such as Japan and Singapore and an increase in prolonged diseases in China, India, Vietnam, the Philippines, Thailand, and other countries in Asia Pacific. The geriatric population is also rising in Europe and North America. This is leading to a rise in the number of healthcare facilities, which in turn is boosting demand for healthcare facility management services.

Global Healthcare Facilities Management Market: Key Players

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

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