The Latin American healthcare facilities management market is forecasted to grow at 7.24% CAGR from 2022 to 2027.
The growing patient population suffering from chronic diseases across Latin America majorly drives the growth of the healthcare facilities management market in Latin America. Chronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory disease are the main reasons for increasing the mortality rate in Latin America. As a result, due to the increasing patient population, hospital need to take care of the availability of medical equipment, rooms and beds, and environmental cleanliness. Healthcare facilities management can manage and maintain all of these, resulting in Latin America's market growth.
The growing number of investments in developing hospital infrastructure and an increasing number of hospitals across Latin America further fuel the growth rate of the Latin American market. To promote the reputation and growth of the hospitals, many hospitals have been investing funds to equip them with advanced infrastructure. This helps the healthcare provider and the healthcare staff to provide better treatment to their patient and increase the success rate of operation among the patient. Several factors, such as the availability of medical devices, the hygiene of operating rooms, and the examination of medical equipment for damage, greatly influence the growth of the hospital sector. These factors are expected to play a notable role in driving regional market growth in the coming years.
The growing usage of advanced technologies in healthcare facilities management promotes the market’s growth rate. The usage of advanced technologies, such as the Internet of Things, in hospitals, has increased in recent years. It has been helping the facilities management team to work with information technologies and the cyber security threat, which helps to protect patient data from hackers. As a result, researchers and key players have been focusing on developing various types of applications and software which help professionals properly manage healthcare facilities. Additionally, increasing research and development, government, public and private support, and approval for novel healthcare facilities management systems also support the market growth in Latin America.
On the other hand, high costs associated with maintenance are one of the notable factors hampering regional market growth. Furthermore, the lack of skilled professionals, maintenance issues, and lack of investments to invest in the facilities management by the hospitals in some countries of Latin America further inhibits the growth rate of Latin America.
This research report on the Latin American healthcare facilities management market has been segmented and sub-segmented into the following categories:
By Product:
Based on product, the waste management segment had the major share of the Latin American market in 2022 and is expected to continue dominating the Latin American market throughout the forecast period.
By End-User:
Based on end-user, the long-term healthcare facilities segment is predicted to witness a promising CAGR during the forecast period.
By Country:
Latin America held a moderate share of the worldwide market in 2022. However, this regional market is anticipated to witness a notable CAGR during the forecast period owing to the increasing adoption of healthcare facilities management in hospitals in recent years. Healthcare facilities management helps care for the hospital environment and the security of patients and staff. Several service providers have increased approvals for the certification for healthcare management during the Covid-19 pandemic. This certificate is given to the hygienic hospital, which has an affordable cost for various types of treatment. Additionally, the government has conducted awareness programs about the healthcare facility management system in hospitals and clines, which helps for the growth of the hospitals and patient safety,
Brazil accounted for the major share of the Latin American market in 2022 and is expected to grow at a steady CAGR during the forecast period owing to the rising awareness regarding the benefits of using healthcare facilities management software. This software or application helps maintain all the records about the equipment and day-to-day activities in the hospital environment. It also helps reduce healthcare costs by minimizing the waste use of the equipment and keeping the hospital environment clean, which helps reduce hospital-acquired infections.
Mexico and Argentina will showcase a notable CAGR during the forecast period. An increasing number of healthcare facilities management companies in Argentina is the primary factor for market growth in this country. These companies provide facilities management to the hospital in a systemic way and reduce the expenditures of the hospitals.
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 a few of the noteworthy players in the Latin American healthcare facilities management market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1200
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region