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Exhibiting a CAGR of 13.93% in 2022 – 2027, the healthcare facilities management market will boost healthcare quality management, and pharmaceutical waste management predicts Mordor Intelligence

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Exhibiting a CAGR of 13.93% in 2022 – 2027, the healthcare facilities management market will boost healthcare quality management, and pharmaceutical waste management predicts Mordor Intelligence

February 03
19:45 2023

Healthcare facility management has experienced an expansion in many countries as there was a consistent growth of diagnostics and treatment due to the COVID-19 pandemic. In order to manage this, healthcare facilities management service companies provided care in the safest way possible for patients and healthcare personnel in response to COVID-19 outbreak. For instance, in May 2021, Ecolab Inc. announced that it would be providing cleaning and disinfecting services and expertise to the vaccination site at the O2 Universum, a part of the O2 Arena in Prague, the biggest sport and event complex in Central and East Europe. The site will be providing vaccinations for up to 7,000 people per day. This trend will continue to grow at a CAGR of 13.93% during 2022-2027. 

In 2021, North America was the largest market of healthcare facility market with a 39% revenue share in 2021, and it is expected to witness a CAGR of 13.05%. The US, the UK France, Brazil, Russia, Germany, and Japan constitute the largest healthcare facility management markets. However, markets with increasing medical tourism, also, the shifting inclination to use advanced technologies to maintain sustainability in workplaces, like China and India will emerge as big opportunities, as predicted by Mordor Intelligence. 

“Cleaning services include focusing on the decrease of the risk of healthcare-associated infections (HAI), increasing nurse and patient engagement, and adopting innovative technologies to drive productivity and quality assurance. It includes services such as patient room sanitization, floor, and room refinishing, and efficient turnaround of patient beds for admission. With the increasing launch of hospital chains across the world, cleaning service management functions in healthcare facilities are expected to witness high demand. For instance, in June 2021, Mitie won seven-and-a-half-year contracts to deliver cleaning services for Lister Hospital and Hertford County Hospital, two of East and North Hertfordshire NHS Trust’s hospitals. The contract is worth GBP 4 million a year and has the option to extend for up to two and a half years.” 

Market expansion is anticipated to be aided by factors such as rising reliance on technology, adoption of the Internet of Things (IoT) in hospitals, risk of security risks from dishonest individuals, and rising threats to sophisticated medical equipment from unauthorized parties. To meet the demands of both patients and medical personnel, safety and security in hospitals have become crucial. Hospital management is responsible for identifying potential threats wholly susceptible to any criminal activity in order to ensure well-being. Emergency rooms, outpatient departments (OPD), intensive care units, and other health departments are among the vulnerable access zones that are protected by hospital security.  

As per Mordor Intelligence, 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. For example, as per the Central Pollution Control Board (CPCB), India generated nearly 28,468.85 tonnes of COVID-19-related bio-medical waste from June to November 2020. So, the demand for healthcare facility management is expected to shoot up as the demand increases. 

Health facility administrators are essential in shaping how the public perceives a hospital. The role is gratifying in that an HFM manager attempts to make the patient journey easier despite several obstacles along the route. Hospital facility managers can streamline their workflow and improve patient care with the help of technological solutions.  

This will create scope for start-ups and existing players to grab growth opportunities in healthcare quality management, and pharmaceutical waste management 

The opportunities can be seen by large investments made by Mitie to provide cleaning, portering, and patient and staff catering at the John Radcliffe Hospital in Oxford, in November 2021, the contract is worth GBP 92.5 million for over five years, with the opportunity to extend for up to 15 years at five-year intervals. The company will also install sensor technology to monitor footfall, ensuring that the busiest parts of the hospital are prioritized for cleaning, as well as the introduction of autonomous scrubber-dryer robots, freeing up the team’s time to focus on more specialist tasks such as sanitizing high touchpoint areas.  

In June 2021, Norwalk Hospital announced an expansion that includes the construction of a seven-story pavilion on the southeast corner of the campus, along with renovations and updates at other areas within the hospital. Similarly, in July 2021, Niagara Health announced that it will be registering its upcoming South Niagara hospital with the International WELL Building Institute for WELL v2 certification. This certification will allow the hospital to measure and monitor the impact of buildings and structures on the health and well-being of the occupants. 

About Mordor Intelligence –  

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Global Healthcare Facilities Management Market Report or ask for a more customised report

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