North America Healthcare Facility Management Market Size, Share & Industry Trends Analysis Report By Location, By Setting, By Service, By Construction Services Type, By Energy Services Type, By Hard Services Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Healthcare Facility Management Market would witness Market growth of 6.1% CAGR during the forecast period (2022-2028).
Healthcare facility management services are non-core services provided by a healthcare facility that has emerged as optional in the quest to provide excellent in-patient care and competent management of a healthcare institution. To meet the expanding needs of healthcare businesses, healthcare facility management service providers are approving novel ICT.
Within the facility management sector, health facilities management has existed as its specialization. Non-clinical chores would be subcontracted by medical buildings like hospitals to maintain sterile working conditions while they focused on providing patient care. Health and FM are no longer synonymous with the medical industry's Health Facilities Management (HFM), but rather as one of the burgeoning new trends in facility management that manages facilities for welfare and health.
As the healthcare business becomes more reliant on technology and migrates to the cloud, the demand for better cyber security grows. With the Internet of Things (IoT) becoming more common in hospitals, facilities management teams are collaborating with IT to develop cyber security plans that will safeguard patient care data from intruders who may use older operating software to gain access to the organization's networks and steal sensitive patient information & research data, or to disable systems that could jeopardize the safety of facilities and equipment.
The growing number of patients and increased healthcare expenditures by both public and private participants in healthcare systems, healthcare has become one of the main sectors. According to the Centers for Medicare & Medicaid Services (CMS), national healthcare spending in the United States is expected to expand at a rate of 5.5 percent per year from 2018 to 2027, reaching about USD 6.0 trillion. Over the period 2018-2027, healthcare spending is expected to expand at a rate of 0.8 percent per year faster than GDP. As a result, the healthcare sector's percentage of GDP is predicted to increase from 17.9% in 2017 to 19.4% in 2027. As a result, there has been a significant increase in healthcare spending, which has resulted in the creation of various amenities in hospitals or clinics for the well-being of patients, and this aspect is projected to boost the Market 's growth. The expansion of the healthcare sector across developed nations of the region would fuel the demand and growth of the healthcare facility management Market .
The US Market dominated the North America Healthcare Facility Management Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $2,592.7 million by 2028. The Canada Market is estimated to grow at a CAGR of 8.6% during (2022 - 2028). Additionally, The Mexico Market would display a CAGR of 7.6% during (2022 - 2028).
Based on Location, the Market is segmented into On-site and Off-site. Based on Setting, the Market is segmented into Acute, Post-acute, and Non-acute. Based on Service, the Market is segmented into Construction Services, Energy Services, and Hard Services. Based on Construction Services Type, the Market is segmented into Building Construction, Building Repair, Maintenance, Testing, & Inspection, and Others. Based on Energy Services Type, the Market is segmented into Energy Management and Others. Based on Hard Services Type, the Market is segmented into Plumbing, Air Conditioning, & Maintenance, Fire Protection, Mechanical & Electrical Maintenance, and Others. Based on countries, the Market is segmented into U.S., Mexico, Canada, and Rest of North America.
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include 3M Company, CBRE GROUP, INC., GSH Group, Sodexo S.A., Medxcel Facilities Management, LLC, ISS Group, Johnson Controls International PLC, ABM Industries, Inc., and Fortive Corporation (Accruent).
Scope of the Study
Market Segments Covered in the Report:
- Construction Services
- Building Construction
- Building Repair, Maintenance, Testing, & Inspection
- Energy Services
- Energy Management
- Hard Services
- Plumbing, Air Conditioning, & Maintenance
- Fire Protection
- Mechanical & Electrical Maintenance
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 3M Company
- CBRE GROUP, INC.
- GSH Group
- Sodexo S.A.
- Medxcel Facilities Management, LLC
- ISS Group
- Johnson Controls International PLC
- ABM Industries, Inc.
- Fortive Corporation (Accruent)
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