The size of the APAC healthcare facilities management market is predicted to grow at a CAGR of 9.68% from 2021 to 2026.
Gaining traction from several factors, such as increased government support for a strong aid infrastructure in several growing economies, particularly in Asia-Pacific, the prevalence of several chronic diseases, the increase in disposable income of the urban population, and technological advances, both difficult and flexible services. In addition, cloud computing and the Internet of Things are also expected to open up new opportunities for providers operating in the global healthcare facilities management market, who have yet to explore the largely unmet demand in rural areas of the APAC regions.
Innovative technologies such as IoT (Internet of Things) present lucrative opportunities for facilities management service providers to provide better customer service in healthcare facilities. Therefore, there is huge potential to deliver Integrated Facilities Management (IFM) business models and innovative technologies such as IoT in facilities management services for the healthcare industry. The APAC healthcare facilities management market is expected to experience rapid growth due to increasing global healthcare spending, increasing frequency of chronic diseases, and increasing medical tourism in emerging countries.
Lack of management awareness among the people and standardization greatly limit the growth rate of the APAC market. The use of traditional methods restrains the growth of the APAC healthcare facilities management market, and it is difficult to infiltrate underdeveloped regions, such as rural areas of India, Thailand, Vietnam, Indonesia, and China.
Impact of COVID-19 on the APAC healthcare facilities management market:
In light of the COVID-19 pandemic, the built environment has reached a tipping point regarding health and safety improvements. As a result, building occupants are increasingly cautious of their physical environment, including population density, air quality, and cleanliness.
Healthcare facilities management (FM) companies in the Asia Pacific (APAC) that provide traditional maintenance services, such as cleaning services and mechanical and electrical (M&E) services, will continue to thrive; however, service providers who offer innovative solutions, such as incorporating elements of cost-effectiveness and next-generation technologies, will gain a clear competitive advantage.
This research report on the APAC healthcare facilities management market has been segmented and sub-segmented into the following categories:
In the Asia Pacific, increased outsourcing of facilities management services by the healthcare industry is driving the growth of the healthcare facilities management market. The market in the Asia-Pacific region is expected to grow at a rapid CAGR relative to other regions due to the growing trend by hospitals to outsource non-essential medical services to professional facilities management organizations.
The healthcare facilities management market in China was growing rapidly and is predicted to be the most dominating regional market in the APAC during the forecast period. China is the largest facilities management market in Asia-Pacific, already launched a viable plan for green cleaning standards in 2013. Regulations require all public residential and commercial buildings, including hospitals, over 20,000 square meters to get at least one star in China's Green Building Rating Standard. China has set its ambitious goal of reaching 1.1 billion square meters of certified green buildings by 2020. As a result, authorities in China are increasingly moving towards green building standards and prioritizing facilities management service providers with knowledge of green building standards and technologies. Therefore, green cleaning is expected to provide an excellent opportunity to expand facilities management in the healthcare sector in the Asia-Pacific regions. In addition, the IoT and other newer technological developments such as ICTs (information and communication technologies) are driving the current healthcare facilities management market.
Healthcare facilities management services, which are complementary services to a healthcare facility, have become essential in the pursuit of good hospital care and the efficient operation of a healthcare facility. Healthcare facilities management service providers are employing advanced ICTs to meet the growing expectations of healthcare organizations in APAC regions.
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, and Siegel-Gallagher Management Company, Inc. are some of the significant players in the APAC healthcare facilities management market profiled in this report.