Global Healthcare Facilities Management Market Gains Momentum in Asia Pacific, TMR Explores Key Reasons Aiding Growth
Albany, NY -- (SBWIRE) -- 05/09/2018 -- As competition intensifies in the global healthcare facilities management market, leading companies are focusing increasingly on improving the quality of their products and services. Collaborations between established companies and domestic players are thus likely to rise as enterprises operating locally record impressive growth, finds Transparency Market Research (TMR) in a new study. The study also identifies companies such as Founders3 Real Estate Services, Aramark, Jones Lang LaSalle, Compass Group PLC, OCS Group, Vanguard Resources, Sodexo, Ecolab USA Inc., Medxcel Facilities Management, and ISS World Services A/S as some of the leading players in the global healthcare facilities management market.
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TMR projects the global healthcare facilities management market to reach US$577.92 bn by the end of 2025. The market's worth was estimated at US$187.35 bn in 2016. During this time, the global healthcare facilities management market is expected to rise at an impressive 13.4% CAGR. "With no clear dominance, the market's competitive landscape is expected to offer lucrative growth prospects to established and emerging players alike," said a lead TMR analyst.
Healthcare Facilities Management Market to Witness Rising Demand for Cleaning and Pest Control Services
On the basis of type of service, the global healthcare facilities management market is bifurcated into hard services and soft services. The hard services segment comprises air conditioning maintenance, plumbing, mechanical and electrical maintenance, fabric maintenance, and fire protection maintenance. Based on soft services, the market is classified into catering, pest control and cleaning, laundry, security and administrative services, and waste management services. Among these, the demand for cleaning and pest control services is likely to increase at an impressive pace over the forecast period.
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Europe and North America to Exhibit Lucrative Growth Prospects
The report has identified Europe and North America as regions offering most lucrative growth opportunities for the market. The presence of a sophisticated healthcare infrastructure across developed nations is aiding the market's expansion in the aforementioned regions. Besides these, Asia Pacific has immense opportunities in the offering. Rising investment in the healthcare sector has created an environment conducive to the growth of the healthcare facilities management market in emerging nations across Asia Pacific.
Consistent Government Support to Enable Market Exhibit Strong Growth
Besides the increasing incidence of chronic ailments, the global healthcare facilities management market is picking pace in response to the emerging technological advancements. As a result of innovations over the past few years, the overall quality of patient care has improved, which bodes well for the global healthcare facilities market. In addition, the increasing disposable income of urban population and consistent support from governments of both developed and developing countries will steer growth in the market. The demand for healthcare facilities management is also expected to rise in response to the growing trend of medical tourism.
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On the downside, the absence of proper managerial awareness is a major loophole, which could restrain the market to an extent. Nonetheless, the advent of cloud-based solutions and the proliferation of the Internet of Things will enable the global healthcare facilities management market report strong growth in the coming years. The market will also gain from the increasing demand for outsourcing in the healthcare sector.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.