Healthcare Facility Management Market Size, Share, Growth Analysis, By Service(Hard Services (Plumbing, Air Conditioning, and Maintenance, Fire Protection), By Setting(Acute (Short-term Acute and Critical Access Hospitals, Children’s Hospitals, Academic Medical Centers, Military Treatment Facilities), By Location(On-site, Off-site), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031

Drivers

Increased Focus on Support Services Increasing the Potential for Market Growth

• The demand for support services in the industry is growing rapidly as hospitals and other healthcare facilities focus on providing high quality care to patients. A motivated and well-rounded support services team can help medical facilities by reducing the workload of medical staff, speeding up patient access to treatment, as well as increasing nurse, patient and family satisfaction by fostering a safe environment. Most healthcare organizations are also heavily reliant on IT and telecommunications infrastructure. Thus, widespread adoption of telehealth and other technological initiatives in healthcare organizations is expected to create new opportunities for market providers during the forecast period. Furthermore, healthcare IT can have an impact in increasing access to quality healthcare services. Thus, the rapidly growing digitization in the healthcare industry is one of the major factors expected to drive the growth of the market.

Increased Burden of Chronic Diseases to Boost Market Growth

• One of the major factors expected to drive the growth of the global healthcare facilities management market during the forecast period is cardiovascular disease, cancer, diabetes, and/or age-related dementia, the as an increasing or increasing incidence of cardiovascular disease worldwide. Patients with chronic conditions are the most likely to use health care. According to the Centers for Disease Control and Prevention (CDC), more than 877,500 people (about half the population of Idaho) die each year from heart disease or stroke in the U.S. That’s one-third of all deaths, and these diseases cost the healthcare system $216 billion every year. This is also expected to increase the demand/usage of healthcare management services or solutions globally.

Restraints

Lack of Investment in Facility Management to Hinder Market Growth

• One of the major factors expected to hamper the growth of the global healthcare facility management market is lack of investment in facility management, especially in low-income countries. Low-income countries and/or more developing countries spend less on their healthcare expenditures as a proportion of their GDP. In such cases, there is no incentive to seek out facility managers who typically charge more for their services. However, many countries around the world are increasingly investing in healthcare.

Differences between Suppliers and Payers to Impede Market Growth

• Another factor restraining the growth of the global healthcare facility management market is the gap between providers and payers. There are many other reasons why payers and providers rarely agree when it comes to contractual agreements. Management of health facilities affects the health and well-being of individual patients and employees in health organizations. However, there is a significant communication gap between payers and suppliers, acting as a major market constraint.