Research Outlines Huge Growth In Healthcare Facility Management Market

According to a new market report, the global healthcare facility management market is expected to reach $416,929.2 million by 2026, expanding at a compound annual growth rate (CAGR) of 8.8 percent from 2018 to 2026.

“Healthcare Facilities Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” published by Transparency Market, outlines that technologies such as the Internet of Things (IoT) present opportunities for facility management service providers to offer better customer service in healthcare facilities.

There is also significant potential to provide integrated facility management (IFM) business models. The development of the IoT technology, healthcare facility management software, and Key Performance Indices (KPI) matrix for measuring facility services is expected to increase the adoption of IFM models.

Globally, there has been a rise in outsourcing of facility management services by the healthcare industry to third party professional facility management providers, the research suggested.

The adoption of IoT technology by facility management service providers is expected to enable healthcare facilities access real-time information through interconnected sensors that will help them to better manage their business.

Real-time location system (RTLS) for tracking of medical equipment, inventory management through low-cost bluetooth low energy (BLE) technology, gathering in-patient data through wearable and sensors, and use of mobile technology to remotely access patient data are some of the IoT-enabled technologies and services that are adopted by facility management service providers.

IoT is also expected to revolutionize the present healthcare building automation systems (BAS).

View a sample of the report here.