Market Size Estimation For Healthcare Facility Management

Top-down and Bottom-up approaches were used to estimate and validate the total size of the Healthcare Facility Management Market-US Forecast.

These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:- 

• The key players in the industry and market have been identified through extensive secondary research
• The revenues generated from the US Healthcare Facilities Management Services business of leading players have been determined through primary and secondary research
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources  

According to new market research industry, "Healthcare Facility Management Market by Service, (Hard Services (Fire Protection), Construction Services (Building, Repair), Energy Services (Energy Management)), Location (On Site, Off site), Settings (Acute, Post-acute, Non-acute) - US Forecast to 2026" The Healthcare Facility Management Market-US Forecast is projected to reach USD 8.3 billion by 2026 from USD 6.0 billion in 2021, at a CAGR of 6.7% during the forecast period.

The increasing investments in healthcare infrastructure and the construction of healthcare facilities in the US, rising geriatric population, growing patient volume due to the rising prevalence of chronic diseases and COVID-19, and increasing healthcare expenditure are the major factors driving the growth of the US healthcare facilities management services market. 

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The growth of the Healthcare Facility Management Market-US Forecast has declined due to the sudden outbreak of the COVID-19 pandemic. In the first quarter of 2020, companies faced certain operational and logistic challenges due to the imposition of lockdowns. 

The chronic diseases such as diabetes, cardiovascular diseases and cancer are on rise across the country. The prevalence of infectious disease is also increasing at an alarming rate. The investments into the healthcare infrastructure to meet the increasing demand of the patients would push the growth of the market. 

The maintenance of the healthcare facilities incurs immense cost. It also compels to follow struct regulatory rules and compliances. The facility also remains under the constant threat of vandalism and theft. 

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The use of automation in healthcare energy management solutions is on the rise. Power quality is a critical need for hospitals and healthcare facilities. The AI and IoT would help in the energy optimization and the energy flow of the healthcare building. 

The highly competitive nature of the market can pose major challenges. The market is highly competitive as there are numerous small and medium-sized enterprises that offer services having specialization in either energy, hard, or construction, or in combination. The presence of many players in the market has increased competition.