Healthcare Facility Management Market Industry Demand, Business Review and Regional Analysis by 2031

The healthcare facility management market is expected to grow at a CAGR of 12.8% during the forecast period (2024-2031). Healthcare facility management include overseeing all areas of a healthcare facility, including maintenance, cleaning, security, and energy management. The healthcare facility management market is expanding as a result of rising demand for healthcare services and the need to ensure that healthcare facilities function efficiently and effectively. 

The services offered in the healthcare facility management market include hard services, energy services, and construction services. Hard services is responsible for the administration of the healthcare facility's physical assets and infrastructure, such as HVAC systems, plumbing, and electrical systems. Energy services deals with the management and conservation of energy, which includes the implementation of energy-efficient methods and the utilization of renewable energy sources. Additionally, construction services include the administration of construction projects such as the planning, design, and building of new healthcare facilities as well as the rehabilitation of existing ones. These services are offered on-site and off-site. Maintenance, cleaning, security, and energy management are examples of on-site facility management services. Off-site facility management services, on the other hand, include garbage management, laundry services, and transportation.

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Key Drivers of the Healthcare Facility Management Market

Rising Healthcare Expenditures

As a result of increased global healthcare expenditures, the healthcare facilities management industry is expected to grow rapidly. Due to the increasing number of patients and increased healthcare expenditure by public and private participants in healthcare systems, healthcare has become one of the main sectors. According to OECD Health Statistics released in July 2021, preliminary healthcare spending projections for a group of 16 nations issued in July 2021, per capita health expenditure grew by roughly 4.9% on average. In addition, according to statistics given by the Centers for Medicare and Medicaid Services (CMS), national healthcare spending in the US is expected to expand at an average rate of 5.5% per year from 2018 to 2027, reaching almost USD 6.0 trillion by 2027. Over the period 2018-2027, healthcare spending is expected to expand 0.8% faster than GDP. As a result of the remarkable rise in healthcare expenses, many amenities in hospitals or clinics for the well-being of patients have been developed. This element is predicted to boost the market growth.

Demand for Energy-Efficient Solutions 

Energy is also an important component of healthcare facility management. By implementing efficient energy management strategies, healthcare providers can reduce their energy consumption and costs, while also improving the sustainability of their operations. Various companies are initiating efforts to make healthcare facilities energy-efficient. For instance, in April 2023, on the World Health Day, the SELCO Foundation and the IKEA Foundation launched the 'Energy for Health' project to boost public health infrastructure. This initiative, to be executed in collaboration with the Ministry of Health and Family Welfare (MOHFW), the National Health Mission, and state health departments, aims to improve universal health care using solar energy while simultaneously supporting India's objectives for climate adaptation and mitigation. By 2026, the plan will offer solar energy solutions with effective medical and electrical equipment to 25,000 healthcare institutions in 12 states with resource-constrained, climate-vulnerable regions. 

Increasing Trend of Outsourcing 

Outsourcing non-clinical activities, such as housekeeping, maintenance, and security, allows healthcare providers to focus on delivering high-quality clinical services, leading to better patient outcomes. Moreover, outsourcing helps in reducing overhead costs, thereby enabling healthcare providers to offer cost-effective services to patients. The companies that offer outsourcing services to the healthcare facilities include Origami Risk, Accruent, and others.

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Expansions and Innovations by Major Market Players

The healthcare facility management market has significant contributors such as Armark Corporation, CBRE Group Inc., ABM Industries Inc., Sodexo, Jones Lang Lasalle Incorporated, International Service System A/S, Medxcel, Johnson Controls International, and 3 M Company, among others. These players assist in the market’s growth with the launch of new products and through collaborations and investments. Some of the recent developments in the market include-

• In April 2023, BrightFlag International celebrated 11 years of investment in Africa's social infrastructure with the opening of BrightFlag Healthcare. BrightFlag Healthcare is a development and investment firm that develops and invests in turnkey healthcare infrastructure projects in Africa, from idea to completion, with comprehensive medical equipment service and facilities management solutions.
• In December 2022, Hill International was granted a contract to offer construction management services for a healthcare project in Amman, Jordan. The project, valued at $400 million, is being executed under the Saudi Jordanian Fund for Medical Educational Investment Company (SJFMEI), which is a subsidiary of the Saudi Jordanian Investment Fund (SJIF).
• In October 2022, JLL announced the addition of a new Performance Optimization Program (POP) to its Healthcare Integrated Facilities Management solutions. The data-driven approach provides visibility into acute care, non-acute care, and ambulatory facilities and collaborates with in-house facilities management teams to measurably improve patient, visitor, and employee experiences, reduce risks, and enhance financial performance without any need for additional outsourcing.

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