Healthcare Facilities Management Market Size & Share to Surpass $11 Billion by 2030 | Vantage Market Research

WASHINGTON, Sept. 05, 2023 (GLOBE NEWSWIRE) — As per Vantage Market Research, the Global Healthcare Facilities Management Market has been steadily growing over the years due to various factors such as increasing healthcare expenditure, rising demand for advanced infrastructure, and the need for efficient facility management in healthcare settings.   

According to Vantage Market Research, the global Healthcare Facilities Management Market is estimated to be valued at USD 11 Billion by 2030 and is expected to exhibit a CAGR of 6.9% from 2023 to 2030. The global Healthcare Facilities Management Market grew to USD 6.5 Billion in 2022.

Managing and maintaining healthcare facilities’ operational processes and physical infrastructure, such as hospitals, clinics, and medical offices. This covers a wide range of duties like managing building and equipment maintenance, safety and security protocols, housekeeping and sanitation oversight, energy and utility management, coordinating biomedical waste disposal, ensuring adherence to healthcare regulations, managing facility budgets, and purchasing supplies.

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Key Highlights

  • In 2022, from the Service Type segment, the soft services category has captured a 44.52% revenue share.
  • The Hospitals & Clinics segment has captured a revenue share of around 48.42% in 2022.
  • North America dominated the overall market in 2022 with a share of over 43.9%.

With the rising complexity of healthcare infrastructure, specialized expertise in facility management has become crucial. This market caters to various applications, including hospitals, clinics, nursing homes, and assisted living facilities. Efficient healthcare facilities management ensures cost-effective operations, regulatory compliance, patient safety, and optimal utilization of resources. Additionally, it enhances patient experience by providing well-maintained and safe healthcare environments.

Top Companies in The Global Healthcare Facilities Management Market

  • 3M Company (U.S.)
  • CBRE Group Inc. (U.S.)
  • Johnson Controls (U.S.)
  • Accruent (U.S.)
  • Jones Lang LaSalle Inc. (U.S.)
  • ABM Industries Inc. (U.S.)
  • Medxcel (U.S.)
  • Sodexo (France)
  • Armark Corp. (U.S.)
  • ISS (Denmark)

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Factors Affecting the Growth of the Healthcare Facilities Management Market

Several factors can affect the growth of the Healthcare Facilities Management industry. Some of these factors include:

  • Increasing demand for healthcare services: The rising global population, increasing longevity, and evolving lifestyle trends are leading to a higher demand for healthcare services. This drives the need for well-managed healthcare facilities to provide efficient and better-quality care to patients.
  • Cost containment and operational efficiency: Healthcare facilities are under pressure to reduce costs and optimize their operations while maintaining quality care. Facilities management solutions can help streamline processes, improve resource utilization, and maximize operational efficiency, leading to cost savings.
  • Technological advancements: The adoption of advanced technologies, for example, the Internet of Things (IoT), Artificial Intelligence (AI), and automation, is transforming healthcare facilities management. These technology-driven solutions enhance decision-making, enable predictive maintenance, improve patient experiences, and optimize overall facility performance.
  • Increasing regulatory compliance: Healthcare facilities need to comply with various regulatory and accreditation standards to ensure patient safety and quality of care. Proper facilities management helps in meeting these requirements, maintaining compliance, and avoiding penalties.
  • Growing focus on patient experience and satisfaction: Enhancing patient experience and satisfaction has become a priority for healthcare providers. Effective facilities management contributes to creating a safe, comfortable, and pleasant environment for patients, improving their overall experience.
  • Mergers and acquisitions in the healthcare industry: The consolidation of healthcare organizations through mergers and acquisitions is driving the need for efficient facilities management strategies. Streamlining operations and standardizing facilities management processes become crucial during these integrations.
  • Impact of COVID-19 pandemic: The global pandemic has highlighted the importance of effective facilities management in healthcare. Healthcare facilities require enhanced protocols and measures to ensure infection control, patient safety, and overall preparedness, driving the demand for healthcare facilities management solutions. Demand for perishable goods:

Top Trends in the Global Healthcare Facilities Management Market

The Healthcare Facilities Management market is witnessing several top trends that are shaping its growth and development. Firstly, the adoption of advanced technologies such as the Internet of Things (IoT), machine learning (ML), and Artificial Intelligence (AI) is revolutionizing facility management practices, enabling predictive maintenance and cost optimization. Secondly, the focus on sustainability and energy efficiency has led to the implementation of green initiatives and the development of eco-friendly healthcare infrastructures. Moreover, a growing emphasis on patient satisfaction has necessitated the integration of patient-centric designs and services, enabling improved patient experience and outcomes. Overall, these trends are driving the transformation of healthcare facilities management towards more efficient, sustainable, and patient-centric solutions.

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Recent Development of the Global Healthcare Facilities Management Market

  • On October 10, 2022, ISS A/S acquired the facility management company Livit FM Services AG in Switzerland from its parent, Livit AG. The integration of the acquired company is expected to be completed in the first quarter of 2023.
  • On September 15, 2022, Sodexo announced the signing of a new contract strengthening its alliance with Ardent Health Services, a business specializing in healthcare in the United States. More than 1,500 Sodexo personnel will deliver food, nutrition, and environmental services at more than 50 Ardent facilities across six states due to this strengthened cooperation. Previously, four Ardent facilities received patient nutrition and environmental services from Sodexo.
  • On May 31, 2022, ABM extended its partnership with ELEVATE with a strategy to accelerate growth through industry-leading use of technology and analytics and investments in the client and team member experience.

Market Drivers
The increasing demand for efficient and cost-effective management of healthcare facilities is driving the healthcare facilities management market. With the rising number of hospitals, clinics, and other healthcare facilities, there is a need for effective management of these spaces to ensure smooth operations and quality patient care. The application of technologies, such as Internet of Things (IoT) devices, also drives the market by enabling real-time monitoring and maintenance of healthcare facilities, leading to improved efficiency and reduced costs.

Market Restraints
Despite the growth potential, the healthcare facilities management market faces certain restraints. One of the major restraints is the high cost associated with implementing and maintaining advanced technologies and systems. Many healthcare facilities, particularly those in underdeveloped countries, do not have the financial means to invest in such technologies, which would restrain market expansion. Additionally, the lack of a skilled workforce in healthcare facilities management, especially in emerging markets, challenges market growth as it hinders the effective implementation and utilization of management solutions.

Market Opportunities
The healthcare facilities management market offers immense opportunities for expansion and innovation. The rising trend of outsourcing facility management services presents a lucrative opportunity for market players. Outsourcing allows healthcare facilities to focus on their core activities while leaving the management tasks to specialized companies, leading to increased efficiency and cost savings. Moreover, the increasing adoption of cloud-based solutions in healthcare facilities management opens up new opportunities. Cloud-based platforms offer flexibility, scalability, and remote access to data, enabling efficient management of facilities from anywhere at any time. This presents a significant growth opportunity for market players.

Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Healthcare Facilities Management Market Forecast Report (2023-2030).

Report Segmentation of the Global Healthcare Facilities Management Market

Service Type Analysis
Soft services play a significant role in the healthcare facilities management market, and this segment is currently dominating the industry. Soft services encompass non-technical support functions, including housekeeping, security, laundry, waste management, catering, and administrative tasks. Maintaining a clean, safe, and efficient healthcare environment requires these services. The global demand for these services by healthcare facilities is a major factor in the soft service segment’s dominance. From small clinics to large hospitals, effective soft services management is crucial for ensuring the well-being of patients, staff, and visitors. The focus on providing quality patient care drives healthcare facilities to outsource these non-medical functions to specialized facilities management companies, leading to the dominance of the soft service segment in the market.

End-User Analysis
Hospitals and clinics hold a significant market share and dominate the healthcare facilities management sector. These healthcare providers are responsible for offering a range of medical services to patients, and effective facility management is crucial to ensure the smooth functioning of their operations. Hospitals and clinics require comprehensive management solutions encompassing a wide array of services, such as medical equipment maintenance, infrastructure, hygiene, waste management, facility safety, and security. The enormous demand for high-quality healthcare services worldwide might be blamed for hospitals and clinics’ domination in the market. As these institutions constantly strive to provide exceptional patient care, they rely on dedicated facilities management companies to handle their non-medical functions. This domination is expected to persist as hospitals and clinics continue to expand and invest in improving their facilities and efficiency in providing healthcare services.

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Market Segmentation

By Service Type

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

By End-User

  • Hospitals & Clinics
  • Diagnostic Centers
  • Research Laboratories
  • Nursing Homes
  • Ambulatory Surgical Centers
  • Assisted Living Facilities
  • Medical Office Buildings
  • Other End-Users

By Region

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

Scope of the Report:    

Report Attributes Details
Market Size in 2022 USD 6.5 Billion
Revenue Forecast by 2030 USD 11 Billion
CAGR 6.9% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players 3M Company, CBRE Group Inc., Johnson Controls, Accruent, Jones Lang LaSalle Inc., ABM Industries Inc., Medxcel, Sodexo, Armark Corp., ISS
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options

Regional Analysis

The healthcare facilities management market is witnessing significant regional variations across the globe. North America holds the largest region in the healthcare facilities management market due to its well-established healthcare system and extensive infrastructure. The region has many hospitals, clinics, and other healthcare facilities that require efficient management and maintenance. In addition, the increasing demand for better healthcare services and the rising need to reduce operational costs have propelled the growth of the healthcare facilities management market in North America. Europe is also experiencing steady growth, driven by the increasing need to maintain healthcare facilities cost-effectively. Asia Pacific is expected to emerge as a lucrative market due to the rising healthcare investments and infrastructure development in countries like China and India.

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