A fast-growing geriatric population, the increase of patients with chronic diseases and an abundance of new services are key factors driving the global healthcare facility management industry, which is anticipated to hit $427.13 billion by 2031.

A newly released report from Allied Market Research estimated the market reached about $208 billion in 2021, of which North America garnered the major share at nearly two-fifths of the market.

The report also attributes forecasted growth to the roll-out of government-initiated services and the adoption of technological applications in healthcare facility management.

Hospitals and healthcare facilities are also adding new software and other technology applications, which are crucial to evaluate technology trends. This factor has created lucrative opportunities for large industry players.

Impact of COVID-19

Discarded materials from health protection activities, medical diagnosis, treatment, and scientific research increased during the pandemic, urging the efficient disposal of medical waste.

A surge in demand for proper management of this medical waste meant more need for healthcare facility management services, which boosted the market growth.

Soft services to lead the market

Based on service type, the soft services segment held nearly three-fifths of the global healthcare facility management market revenue in 2021, and is expected to dominate by 2031. There’s  increasing investment in waste management, cleaning services, catering services, and others.

The hard services segment is forecasted to manifest the fastest compound annual growth rate of 8.2 per cent from 2022 to 2031, due to more construction of healthcare centres.

The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. To read more visit: https://www.alliedmarketresearch.com/request-sample/17701.