Australian Healthcare Facilities Management Market, Forecast to 2024

Australian Healthcare Facilities Management Market, Forecast to 2024

Increase in Health Expenditure and the Drive Toward Operational Efficiency Present Growth Opportunities for the FM Industry

RELEASE DATE
21-Mar-2019
REGION
Asia Pacific
Research Code: 9AAF-00-56-00-00
SKU: EN01115-AP-MR_22931

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Description

As hospitals look to improve operational efficiency in the provision of services, digital solutions become vital in delivering facilities management (FM) solutions. In addition, as hospitals look for more environmentally viable solutions, FM providers become an important part of energy- and environmentally-efficient management of hospitals.

Increasing regulations (in terms of the provision of services in hospitals) will continue to drive growth in the outsourcing of FM services. In particular, the private sector as a whole has seen growth in the overall number of hospitals, as well as new beds, creating potential growth opportunities for FM companies.

A key driver of the growth in the FM market is the overall increase in health expenditure (driven by migration, chronic diseases and an ageing population), leading to the expansion of the asset base and an increase in the number of medical practitioners. However, there are several restraints to market growth. These include increased instances of soft FM being kept in-house, knowledge gaps and inadequate provision of services to rural and remote regions, as well as FM protocols, practices and delivery challenges.

The FM market for healthcare has been fairly competitive, with a number of dominant competitors. Compliance, expertise and track record, existing business relationships/contracts, as well as qualified and skilled staff are the key factors providing a competitive advantage. Over the long term, the emergence of digital/smart hospitals will increase the demand for technology-driven FM services which will leverage Building Information Modelling (BIM), patient and visitor analytics and digital tools for catering, as well as Internet of Things (IoT)-specific solutions.


Research Highlights

This research service provides an insight into the drivers for the growth of the FM market in the Australian healthcare sector, the restraints to growth, the forecast expenditure on FM, trends by outsourced versus in-house FM, integrated FM versus other FM (single and bundled services), hard versus soft FM, competitive trends and future shifts impacting the management of healthcare facilities.

The study period is from 2015 to 2024, with the base year as 2018 and the forecast period as 2019 to 2024.

Key Issues Addressed

  • Is the market growing? How long will it continue to grow, and at what rate?
  • What are the trends affecting industry decision-making in outsourcing and what are the strategies of competitors in meeting these trends?
  • What are the trends in terms of integrated FM versus other FM, as well as hard versus soft FM?
  • Are the services offered today meeting customer needs or is additional development needed?
  • What technological shifts will change the way healthcare facilities are managed in the future?
  • What influence will the imperative to reduce environmental impact have on the future of healthcare facilities?

Author: Ivan Fernandez

Table of Contents

Key Findings

Scope and Definitions

Scope and Definitions (continued)

Healthcare Snapshot

Industry Structure

Industry Structure (continued)

Public and Private Hospitals

Number of Hospitals Over Time

Public and Private Hospitals by Region

Healthcare Expenditure

Sources of Funding—Public and Private Hospitals

Medical Practitioners

Residential Aged Care

Residential Aged Care (continued)

PPPs in Healthcare

PPPs in Healthcare (continued)

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Restraints Explained (continued)

Restraints Explained (continued)

Revenue Forecast

Revenue Forecast Assumptions

Outsourcing and Integrated FM

Hard and Soft FM

End Segments

Market Share Analysis

Competitive Environment

Competitive Analysis—M&As

Competitive Factors

Competitive Factors (continued)

Competitive Factors (continued)

Competitive Factors (continued)

Recent FM Healthcare Contracts—Examples

Recent FM Healthcare Contracts—Examples (continued)

Digitisation of Healthcare

Move to Value-based Care

Consumerisation of Healthcare

Future of Technology in FM/Healthcare

Future of Technology in FM/Healthcare (continued)

Future of Residential Aged Care

Growth Opportunity 1—Leveraging Building Information Modelling (BIM)

Growth Opportunity 2—Leveraging Patient Analytics and Visitor Data

Growth Opportunity 3—Digital Tools for Catering

Growth Opportunity 4—Internet of Things (IoT)

Growth Opportunity 5—Reducing Environmental Impact

Growth Opportunity 5—Reducing Environmental Impact (continued)

Growth Opportunity 5—Reducing Environmental Impact (continued)

Strategic Imperatives for Success and Growth

The Last Word—3 Big Predictions

Legal Disclaimer

Additional Sources of Information on Facilities Management

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
As hospitals look to improve operational efficiency in the provision of services, digital solutions become vital in delivering facilities management (FM) solutions. In addition, as hospitals look for more environmentally viable solutions, FM providers become an important part of energy- and environmentally-efficient management of hospitals. Increasing regulations (in terms of the provision of services in hospitals) will continue to drive growth in the outsourcing of FM services. In particular, the private sector as a whole has seen growth in the overall number of hospitals, as well as new beds, creating potential growth opportunities for FM companies. A key driver of the growth in the FM market is the overall increase in health expenditure (driven by migration, chronic diseases and an ageing population), leading to the expansion of the asset base and an increase in the number of medical practitioners. However, there are several restraints to market growth. These include increased instances of soft FM being kept in-house, knowledge gaps and inadequate provision of services to rural and remote regions, as well as FM protocols, practices and delivery challenges. The FM market for healthcare has been fairly competitive, with a number of dominant competitors. Compliance, expertise and track record, existing business relationships/contracts, as well as qualified and skilled staff are the key factors providing a competitive advantage. Over the long term, the emergence of digital/smart hospitals will increase the demand for technology-driven FM services which will leverage Building Information Modelling (BIM), patient and visitor analytics and digital tools for catering, as well as Internet of Things (IoT)-specific solutions.--BEGIN PROMO--

Research Highlights

This research service provides an insight into the drivers for the growth of the FM market in the Australian healthcare sector, the restraints to growth, the forecast expenditure on FM, t

More Information
No Index No
Podcast No
Author Ivan Fernandez
Industries Environment
WIP Number 9AAF-00-56-00-00
Is Prebook No
GPS Codes 9835-A4,9343-A4