Significant Growth Expected for US Health Care Facilities Management Market

According to a press release, a recently published report by international market research firm Research and Markets has revealed significant anticipated growth for the U.S. health care facilities management market during the forecast period of 2023–2027.

According to the U.S. Centers for Medicare and Medicaid Services (CMS), national health care spending is anticipated to grow at an average annual rate of 5.4% by 2028, reaching US$6.2 trillion, and the health share of the economy will rise to 19.7% by 2028.

The report attributes the growth to the escalating prevalence of chronic disorders, rising health care expenditures, and the increasing adoption of advanced technologies by the health care sector.

The release also stated that patients are becoming more aware of the advantages of using advanced technologies and equipment that are more accurate and effective than traditional medical devices. The increased number of market participants and high availability of innovative cloud-based health care facility management solutions are expected to create lucrative growth opportunities over the next five years.

The soft service segment is expected to hold the largest share of the market, due to its greater role in making the workplace more secure, pleasant, and efficient.