From the usage of energy and water to the generation of waste and pollutants, healthcare operations have a considerable negative influence on the environment. Many governments all around the world are putting policies and programmes into place to support sustainable healthcare practises, such as the creation of green hospitals. By increasing energy efficiency and minimising waste, green hospitals can aid in the reduction of healthcare expenses. Globally, chronic conditions including diabetes, heart disease, and cancer are on the rise. The need for healthcare facilities that can deliver high-quality care while reducing the environmental effect of healthcare operations is being driven by this.
The market for Green Hospitals is predicted to increase at a compound annual growth rate (CAGR) of 12.5%, from its estimated value of US$ 41.68 billion in 2022 to US$ 106.93 billion by the end of 2030.
Key Companies in the Green Hospitals Industry:
1. Siemens Healthineers AG: Founded in 1847. Immunodiagnostics service provider based in Erlangen, Germany. The company's immunodiagnostics is a diagnostic methodology that uses an antigen-antibody response as their primary way of detection of the existence of the tumour linked with that antigen, enabling medical professionals to quickly diagnose any tumour present in the body. Siemens Healthineers completes the acquisition of Varian in 2021, enhancing its standing as a complete healthcare partner.
- Medline Industries, Inc.: Founded in 1910. Headquartered in the US. Healthcare supply distributors and manufacturers collaborate with international healthcare organisations. The business provides disposable incontinence care, exam gloves, textiles, durable medical equipment, plastic patient utensils, and other medical products, all of which guarantee lower costs, increased supply chain efficiency, and higher levels of care. Dufort and Lavigne (June 2018), Centurion Medical Products (Dec 2017), and Physicians Filing Service (Jan 2017) are the most recent acquisitions.
- Owens Corning: Headquartered in the United States and established in 1938.Glass fibre produced by Owens-Corning Inc. is used in composites and construction materials. Three reportable segments make up its integrated business model: composites, insulation, and roofing. The Insulation section is the one where the corporation makes the most money. Thermal and acoustical batts, loosefill insulation, spray foam insulation, foam sheathing, and accessories are all produced and sold by the company's insulation business. Additionally, it produces and sells foam insulation for above- and below-grade construction applications, bonded and granulated mineral wool insulation, cellular glass insulation, and energy-efficient flexible duct media. Complete Natural Polymer Acquisition by Owens Corning.
- Stericycle, Inc.: Established in 1989. Headquartered in the US. The leading provider of data destruction (mainly paper shredding) and medical waste disposal services in the US is Stericycle. Sharps Compliance, which produced $76 million in sales in fiscal 2021 before being acquired by Stericycle in 2022 (or about 4% of Stericycle's global regulated waste and compliance income), is its next-closest national rival in the medical waste disposal industry. The information destruction segment of Iron Mountain is nearly twice as big as Stericycle's Shred-It brand, which is Stericycle's closest rival. With 20% of its revenue coming from sources outside of North America, Stericycle has a presence all over the world.
5. Philips Healthcare: Situated in the Netherlands and established in 1891. Devices made with liquid resin are produced. The business manufactures plastic thermosetting polymers, synthetic resin, and plastic casting, among other things. With the acquisition of Capsule Technologies, Inc., Philips will strengthen its position as the industry leader in hospital patient care management systems.
- Trane Technologies plc: Founded in 1913. Based in the US. New Jersey-based manufacturer of heating and cooling equipment. The business creates, produces, and sells heating, ventilation, and air conditioning systems. It also provides building management systems around the country. Strong results from Trane Technologies led to an increase in its revenue and EPS forecast for 2023.
7. Johnson Controls International plc: Headquartered in the United States and established in 1885. Johnson Controls produces, installs, and provides maintenance for HVAC systems, building management controls, commercial refrigeration systems, and solutions for fire and security. About 40% of sales are made up of commercial HVAC, 40% of sales are made up of fire and security, and the remaining 20% of sales are made up of residential HVAC, industrial refrigeration, and other solutions. Johnson Controls made more over $25 billion in revenue during the 2022 fiscal year.
*Definition: Green hospitals, also known as sustainable hospitals or eco-friendly hospitals, are healthcare facilities designed and operated with a focus on environmental sustainability and minimizing their ecological impact.
