North America Healthcare Facilities Management Market

North America Healthcare Facilities Management Market Size (2023 to 2028)

The healthcare facilities management market size in North America is predicted to grow at a CAGR of 8.44% from 2023 to 2028 and the regional market size is anticipated to be worth USD 136.66 billion by 2028 from USD 91.12 billion in 2023.

The growing patient population with chronic diseases and the rising geriatric population in North American countries majorly drive the growth of the North American healthcare facilities management market. Chronic diseases, including diabetes, cancer, arthritis, and cardiovascular diseases, are highly prevalent in the region, with approximately 40% of the population affected by at least one of these conditions. As a result, hospital admissions have increased, leading to a higher demand for healthcare providers to manage patient care. Healthcare facilities management software plays a crucial role in addressing these challenges by providing a comprehensive overview of hospital operations and offering a cost-effective solution that benefits healthcare providers and patients. This software streamlines healthcare management processes, delivering convenience and efficiency for all stakeholders involved.

The growing number of investments for the further development of healthcare infrastructure in North America, increasing demand for healthcare services, rising awareness of healthcare facilities management software, advancements in healthcare technology and the growing geriatric population primarily drive the healthcare facilities management market in North America. Increasing incidence of chronic diseases, growing healthcare expenditure, increasing number of initiatives by the North American countries to improve healthcare infrastructure and rising need for regulatory compliance contributes to the regional market growth.

The growing popularity of outsourcing non-core activities, implementation of electronic health records, rising need for cost containment and growing demand for energy-efficient and sustainable infrastructure fuel the growth rate of the North American healthcare facilities management market. Advancements in IoT and AI technologies, the rising need for effective management of medical equipment and devices, the rising emphasis on patient safety and the emergence of cloud-based solutions favor the growth rate of the North American market. Integration of mobile technologies, rising demand for asset-tracking solutions, growing focus on data analytics and the emergence of smart building technologies further boost the growth rate of the Noth American healthcare facilities management market.

The management of cleanliness and hygiene in hospital settings majorly hinders the growth of the healthcare facilities management market in North America. The high cost of medical devices and equipment utilized in healthcare management represents is another key factor that hampers the regional market growth. Lack of awareness surrounding healthcare facilities management solutions, high maintenance costs associated with the software, and stringent government regulations impede the North American market growth further.

This research report on the North American healthcare facilities management market has been segmented and sub-segmented into the following categories:

By Product:

• Waste Management
• Security Services
• Catering Services
• Cleaning Services
• Technical Support Services
• Other Products

By End-User:

• Hospitals and Clinics
• Long-term Healthcare Facilities
• Other End Users

By Country:

• The United States
• Canada
• Rest of North America

North America occupied the largest share of the worldwide healthcare facilities management market in 2022 and North America is expected to continue playing the dominating role throughout the forecast period owing to factors such as the rising awareness of the benefits of healthcare facilities management solutions among hospitals and clinics, growing healthcare expenditure by the population. The U.S. captured the major share of the North American market in 2022 and the U.S. market is also expected to play a dominating role in the North American market during the forecast period. Factors such as the growing number of organizations that provide healthcare facilities management services to hospitals and healthcare centers and an increasing number of awareness programs by both government and non-government organizations to educate regarding the importance of healthcare facilities management solutions boost the U.S. market growth. Such awareness campaigns aim to increase demand for healthcare facilities management solutions, thus boosting market growth within the region.

Canada is another noteworthy regional market for healthcare facilities management in North America and is expected to grow at a notable CAGR during the forecast period.

KEY MARKET PLAYERS:

ABM Industries Inc., Medxcel Facilities Management, Ecolab Inc., Aramark Corporation, Vanguard Resources Inc., ISS World Services A/S, Serco Group plc, Mitie Group plc, Sodexo, OCS Group, Siegel-Gallagher Management Company, Inc. are a few of the noteworthy companies operating in the North American healthcare facilities management market.