Growth in Healthcare Expenditure
Healthcare has become one of the leading sectors, owing to the increasing number of patients and healthcare expenditure by public as well as private players in healthcare systems. According the data published by the Centers for Medicare & Medicaid Services (CMS), the US healthcare expenditures rose from 5.3% in 2014 to USD 3 trillion, or USD 9,523 per person, accounting for about 17.5%t of the GDP. The market is growing at a tremendous pace, owing to growth in insurance coverage. The increasing number of patients has led to a growth in demand for the number of hospitals in emerging countries. This factor is likely to boost the healthcare facilities management market during forecast period. In addition, growth in patient pool, increase in medical tourism in emerging countries, and technological advancement in facilities management are also fuelling the healthcare facilities management market.
Gap between Providers and Payers
The wide gap between healthcare payers and management services providers, in terms of operation and availability of advanced healthcare facilities, and the high cost involved in the setup of streamline systems, coupled with the lack of technical expertise, and sufficient knowledge base, are likely to impede the growth of healthcare facilities management market in mid-tier and low tier hospitals.
North America to Dominate the Market
The healthcare facilities management market has been segmented on the basis of service type, end user, and geography. By geography, this market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America dominates the healthcare facilities management market, due to the well-developed healthcare infrastructure and growth in healthcare spending in the region. Asia-Pacific is also expected to grow tremendously during forecast period, owing to the factors, such as the increase in disposable income, rising health awareness, changing attitude toward preventive healthcare, and the presence of huge patient pool. These factors are expected to boost the healthcare sector in emerging countries and augment the demand for healthcare facilities management services in Asia-Pacific.
Key Developments in the Market
- December 2017: Ecolab Inc. acquired Arpal Group., based in Selkirk, Scotland, Arpal Group provides cleaning and sanitizing products and services in the United Kingdom and the Middle East.
- January 2017: Aramark acquired AmeriPride Service Inc., which enabled Aramark to enhance its customer service.
Reasons to Purchase this Report
- Current and future global healthcare facilities management market outlook in the developed and emerging markets
- Various perspectives of the market, with the help of Porter’s five forces analysis
- The segment expected to dominate the market
- The region expected to witness the fastest growth rate during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product & Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Growth in Healthcare Expenditures
6.1.2 Rise in Patient Pools
6.1.3 Increasing Medical Tourism in Emerging Countries
6.1.4 Rising Technological Advancement in Facilities Management
6.2 Market Restraints
6.2.1 Gap between Providers and Payers
6.2.2 Lack of Investment in Facilities Management in Low Income Countries
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
7.1.1 Waste Management
7.1.2 Security Services
7.1.3 Catering Services
7.1.4 Cleaning Services
7.1.5 Technical Support Services
7.2 By End User
7.2.3 Long-term Healthcare Facilities
7.3 By Geography
7.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest Of Europe
126.96.36.199 Australia & New Zealand
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.3.4 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of the Middle East & Africa
7.3.5 South America
22.214.171.124 Rest of South America
8. Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.3 Ecolabs USA Inc.
9.4 Iss World Servies A/S
9.5 Jones Lang Lasalee
9.6 Medxcel Facilities Management
9.7 Ocs Group
9.8 Siegel-Gallagher Management Company, Inc.
9.9 Vanguard Resources
9.10 Mitie Group Plc.
10. Future of the Market