The rise in demand for or adoption of healthcare facility management services or solutions is another element propelling the expansion of the global market for healthcare facilities management. To assist the hospital staff, healthcare facility management services or solutions are needed. For instance, facilities that house people with chronic conditions have a high demand for cleaning services, catering, and trash management. The main causes of death and disability worldwide are chronic illnesses like diabetes, cancer, and heart disease. The National Health Authority of India intended to make a hospital management information system available to the nation's minor medical facilities and private clinics in January 2023.
The market for managing healthcare facilities was valued at US$ 354,138.7 million in 2022 and is anticipated to grow at a CAGR of 12.9% from 2023 to 2030 to reach US$ 931,220.1 million.
Leading Companies in the Healthcare Facilities Management Industry:
1. Cushman & Wakefield: Cushman & Wakefield is a management consulting and valuation company with its corporate headquarters in Chicago, Illinois, and was founded in 1917. The company offers a range of services, including real estate portfolio management, integration in mergers and acquisitions, workplace strategy and change management, market entry, site advising, project feasibility, and development strategy, as well as advice on policy creation. Cresa Partners of Los Angeles, Inc. ("Cresa") was bought by Cushman & Wakefield (NYSE: CWK), according to the company's announcement.
2. Tenon Group: Created in 2023. United States headquarters. Creater of corporate organisations' connectivity and collaboration needs in mind when creating marketing work management software. The business provides pre-built, enterprise-grade marketing project templates, configuration for project tracking and work management that is marketing-specific, and cross-functional collaboration to help marketers handle work more quickly and unify request intake procedures throughout the firm.
3. Apollo Sindoori: Established in 1998. Head office in India. The hospitality industry is where Apollo Sindoori Hotels Ltd operates. The business provides management and support services for the hospitality industry. It has experience in hospitality and catering. The majority of the company's income comes from food and beverages. 51 percent of Faber Sindoori is now owned by Apollo Sindoori.
4. Compass Group PLC: Built in 1941. Located in England, in the United Kingdom. The largest food-service provider in the world, Compass Group has operations in more than 50 nations and generates annual sales of more than GBP 25 billion. The business concept of Compass Group is based on running on-site catering establishments rather than centralised industrial kitchens. A prominent international food service firm, Compass Group PLC (LSE: CPG), today announced that it had reached a deal to buy Fazer Food Services from the Fazer Group, a multinational family-owned FMCG and direct to consumer group, for an estimated €475 million.
5. Sodexo: Created in 1966. French headquarters. One of the biggest food service providers in the world, Sodexo has operations in over 80 countries and generates annual revenues of over EUR 21 billion. The business concept of Sodexo is based on running on-site catering establishments rather than centralised industrial kitchens. The company has actively pursued a strategy of extending its business activities into other areas, such as facilities-management services, which presently accounts for 38% of group revenue, even though food services will continue to be the company's largest business segment (58% of sales in 2022). Leading independent vending company in the US, Accent Food Services, will be purchased by Sodexo.
6. Serco Group PLC: Established in 1929. Located in England, in the United Kingdom. Serco Group PLC assists public sector organisations and governments in providing public services. The business makes money through its four segments. In the U.K. and Europe, the local and regional government sector provides services for defence, business support operations, and hospital management welfare. Serco completes the acquisition of WBB and now offers defence customers full lifecycle support services.
7. OCS Group: Built around 1900. Located in England, in the United Kingdom. Office cleaning service provider with a focus on the healthcare, aviation, government, educational, and hospitality industries. In order to help businesses meet their operational needs and enhance the end-user experience, the company provides a range of services, including facilities management, cleaning, mechanical and electrical, catering, waste management, and recycling. The sale of OCS Facilities Services by OCS Group is finalised.
More Insights: Long Term Care Industry
*Definition: Healthcare facilities management is the maintenance and oversight of a healthcare facilities' development, maintenance, security, and operations.
