DUBLIN--(BUSINESS WIRE)--The "Healthcare Facilities Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Healthcare Facilities Management Market is valued at approximately USD 224,830 million in 2020 and is expected to witness a revenue of USD 360,250 million in 2026, with a CAGR of 8.2% over the forecast period.
Companies Mentioned
- ABM Industries Inc.
- Aramark Corporation
- Ecolab Inc.
- Iss World Services A/S
- Jones Lang LaSalle
- Medxcel Facilities Management
- Ocs Group
- Serco Group plc
- Sodexo
- Vanguard Resources Inc
- Mitie Group plc
- Compass Group plc
- Manutencoop Facility Management S.p.A. (MFM)
- UEM Edgenta Berhad
- Siegel-Gallagher Management Company, Inc.
Key Market Trends
Waste Management is Expected to Witness Good Growth Over the Forecast Period in the Healthcare Facilities Management Market
Healthcare establishments generate a huge quantity of both hazardous and non-hazardous wastes daily. These wastes are generated as a result of the diagnosis, and treatment of human and animal diseases. These hazardous wastes, when inappropriately managed may compromise the quality of patient care. These wastes may enhance environmental pollution and spread infectious diseases, including acquired immunodeficiency syndrome (AIDS), hepatitis, tuberculosis, diphtheria, cholera, and many others.
According to the World Health Organization, 2020, there are increased volumes of discarded materials from health protection activities, medical diagnosis, treatment, and scientific research during the COVID-19 pandemic and the safe, efficient disposal of this medical waste is a critical component in the effective management of COVID-19 globally. Hence COVID-19 is expected to have a significant impact on the growth of the studied segment during the pandemic.
Furthermore, the Secretary-General of the United Nations (UN) issued a 'global call to action' in 2018, to elevate the importance of, and prioritize action on, water, sanitation, healthcare waste management, hygiene, and environmental cleaning infrastructure, and services in all healthcare facilities, including primary, secondary and tertiary facilities in the private and public sectors. Additionally, according to the data published by the World Health Organization (WHO) on healthcare waste, in 2018, the high-income countries generate, on an average, up to 0.5 kg of hazardous waste per hospital bed per day, while low-income countries generate, on an average, up to 0.2 kg. Additionally, as per the Central Pollution Control Board (CPCB), India had generated nearly 28,468.85 tonnes of COVID-19 related bio-medical waste from June to November 2020. These healthcare wastes may pose health risks, indirectly through the release of pathogens and toxic pollutants into the environment. Thus the healthcare providers are on verge of establishing and implementing programs for the effective management of healthcare wastes, which is likely to impact the growth of the market.
North America is Expected to Hold a Major Share of the Market in the Forecast Period
North America is anticipated to dominate the healthcare facilities management in the forecast period due to the robust healthcare infrastructure and the introduction of different technologies for healthcare facilities management that is expected to fuel the growth of the market.
The overall condition of the healthcare infrastructure also varies widely in the North American region. Hospitals present are found to have with strong market position and some hospitals have established a basic healthcare facility management. According to the Population Reference Bureau's Population Bulletin" Aging in the United States the Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060. The rising geriatric population and increasing chronic diseases across the region are augmenting the growth of the healthcare facilities management market in the forecast period.
Though there is an increasing demand for waste management during the COVID-19 pandemic, according to the research article published in Waste360, 2020, the United States has experienced a reduction of medical waste production due to the cancellation or delay of the elective surgeries as well as a reduction in hospitalizations. Hence, Covid-19 is expected to have a significant impact on the management of waste generated in the treatment of COVID-19 patients alone in the region.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growth in Healthcare Expenditures
4.2.2 Increase in Occurrence of Chronic Diseases
4.2.3 Increasing Medical Tourism in Emerging Countries
4.3 Market Restraints
4.3.1 Gap between Providers and Payers
4.3.2 Lack of Investment in Facilities Management in Low-income Countries
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By End User
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/h99dkz
