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Healthcare Facilities Management Market Trends and Growth Factors Analysis

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According to a new market report published by Transparency Market Research  titled Healthcare Facilities Management Market  – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global healthcare facility management market is expected to reach US$ 416,929.2 Mn by 2026, expanding at a CAGR of 8.8% from 2018 to 2026. North America held a prominent share of the global healthcare facility management market in2017.

Innovative technologies such as, IoT (Internet of Things) present lucrative opportunities for facility management service providers to offer better customer service in healthcare facilities. There is a huge potential to provide integrated facility management (IFM) business models, along with innovative technologies such as IoT in facility management services to the healthcare industry.

Development of innovative ICT technologies such as IoT, healthcare facility management software, and KPI (Key Performance Indices) matrix for measuring facility services is expected to increase the adoption of integrated facility management business models in the healthcare industry.

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Globally, there has been a rise in outsourcing of facility management services by the healthcare industry (hospitals, nursing homes, etc.) to third party professional facility management providers. This has augmented the demand for facility management services in the healthcare sector.

Outsourcing of facility management services by hospitals, nursing homes, etc. help them to reduce cost of operation and focus more on their core healthcare activities.

In Asia Pacific, rise in outsourcing of facility management services by the healthcare industry is boosting the growth of the healthcare facility management market.

Based on the type of service, the global healthcare facility management market is segmented into hard and soft services. Hard services can again be sub-segmented into various non-core healthcare services such as plumbing and air conditioning maintenance, fire protection systems, mechanical and electrical maintenance, and other hard services such as fabric maintenance. Similarly, soft services can be sub-segmented into cleaning and pest control, laundry, catering, security, waste management, and other soft services such as administrative services. Although the global market size of soft healthcare facility management services is expected be more than hard healthcare facility management services, nevertheless, hard services are anticipated to witness a higher growth rate than soft services during the forecast period.   

The market in Asia Pacific is expected to expand at a rapid CAGR as compared to other regions due to increasing trend by hospitals to outsource non-core medical services to professional facility management organizations. The healthcare facility management market in China is expected to be valued at US$ 28,549.2 Mn by 2026 and is expected to expand at a CAGR of 16.7% during the forecast period.

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IoT and other new ICT (Information and Communication Technology) are driving the present healthcare facility management market.

Healthcare facility management services which are non-core services of a healthcare facility have emerged as essential services in the quest to provide good in-patient care and efficient running of a healthcare facility. Healthcare facility management service providers are adopting advanced ICT to meet the rising expectations of healthcare organizations.

The healthcare facility management market is witnessing a shift in technology to improve facility monitoring, cost effectiveness, and efficiency. Adoption of new ICT such as IoT 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. RTLS (Real Time Location System) 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 BAS (Building Automation System).

Additionally, being highly fragmented, the health care facility management market comprises several small-sized companies. Established companies are focusing on expanding their service base with the help of mergers and acquisitions of small-sized and niche companies operating in the market. This helps established players not only in expansion but also in incorporation of new technologies adopted by niche companies.

Emerging markets such as Asia Pacific and Middle East & Africa offer new growth opportunities for health care facility management service providers. These regions are experiencing entry of small players in the market.

Company profiles of major players operating in the healthcare facility management market include overview of company, major business strategies, and key developments. The companies profiled in the global healthcare facility management market include ABM Industries Inc., Aramark Corporation, Compass Group plc, Ecolab, Inc., ISS World Services A/S, Jones Lang LaSalle, IP, Inc., Manutencoop Facility Management S.p.A. (MFM), Medxcel Facility Management, Mitie Group plc, OCS Group, Secro Group plc, Sodexo, Vanguard Resources and UEM Edgenta Berhad.

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posted Feb 10 by Bella Watson

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The implementation of information technology in the healthcare industry has created a revolution towards faster diagnostics and treatments, and especially a massive improvement in speeds and efficiency of backend processing and documentation for healthcare institutes and organizations. It is essentially a support system for information management in the healthcare industry, through the use of computer systems that allow for a safe and secure transmission of data between the service providers, the healthcare institute, and the consumers. Healthcare IT integration brought about one of the most critically important functionalities in the healthcare industry: the advent of electronic health records. EHRs can effectively improve the overall efficiency, safety, and quality of a health delivery system.

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The key factors involved in healthcare IT integration revolve around the improvement of quality of care available for a patient. They are also enabled to provide services that can significantly improve the productivity of a healthcare organization, while helping prevent or reduce the rate of medical errors caused by humans, and also cut down on the overall health costs. Healthcare IT integration also includes a wide array of methods – all electronic – to help manage the information provided by a patient, or the information generation throughout their care at a healthcare organization. This helps both the organization as well as the patient.

Global Healthcare IT Integration Market:

Healthcare IT integration refers to the practice of digital intervention for the effective management of patient health. The practice enables the effective archiving, monitoring, integration and communication of patient’s health in a secure environment. In primary healthcare centers, healthcare IT integration practices are used for purposes such as computerized provider order entry, clinical decision support, electronic prescribing, consumer health IT applications, and storage and transfer of electronic medical records across different end points.

This report on the global market for healthcare IT integration presents a detailed overview of the market’s present growth dynamics and an analysis of the key factors influencing its development. The future growth prospects of the market have been analyzed using the key growth drivers, restraints, trends, inputs from industry experts, and several industry-standard analytical tools. A detailed analysis of the competitive landscape of the global healthcare IT integration market has also been included in the report.

Global Healthcare IT Integration Market: Market Potential

In the past few years, the market for healthcare IT integration has witnessed significant traction and a huge rise in adoption across developed as well as developing economies. The market has benefitted from the significant rise in demand for advanced healthcare services, the vast rise in world’s geriatric population, increased prevalence of a number of chronic diseases and the resultant rise in the intervention of IT in the healthcare industry for faster and more efficient services amid rising demand.

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The market has also significantly benefitted from the easy availability of technologically advanced products, declining prices of communication devices, technological advancement of healthcare industry, and the increased usage of mobile computing devices by healthcare practitioners as well as patients. With the increased intervention of IT technologies, the need for effective integration solutions and tools is also being felt. These factors will continue to drive the market in the next few years as well. However, the market’s growth could be restricted to a certain extent in the next few years owing to concerns regarding data security and high cost associated with healthcare IT integration.

Global Healthcare IT Integration Market: Regional Analysis

From a geographical perspective, the report segments the global healthcare IT integration market into North America, Europe, Asia Pacific, and Europe. Of these, the market in North America is presently the leading contributor to the overall market chiefly owing to the technologically advanced healthcare infrastructure. The vast usage of personal computing devices by the general population in countries such as the U.S. and Canada and the rising awareness regarding the vast benefits of IT intervention in the healthcare industry are also leading to the increased demand for healthcare IT integration services and solutions in North America. The market in Europe also holds a prominent position in the global market, mostly owing to aforementioned factors.

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The competitive landscape of the clinical trial management systems market is highly fragmented with the presence of plethora of players, finds Transparency Market Research(TMR). Some of the prominent players operating in the market are Forte Research Systems Inc., Oracle Corporation,  DATATRAK,  Clinical Data Inc., BioClinica,  bio-Optronics, Inc., and PARAXEL International Corporation.

These players are focusing towards organic and in-organic growth strategies in order to concretize their market position. Along with this, they are looking forward to strengthen their geographical reach and increase customer base to garner majority of market share. 

For instance, in June 2016, Oracle and Pfizer entered in a partnership wherin Oracle will offer Oracle Health Sciences InForm Cloud Service, Oracle Siebel Clinical Trial Management and Monitoring Cloud Service to Pfizer. This will help Oracle manage its 300 pulse clinical trials efficiently.

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According to TMR, the global clinical trial management systems market was noted at a valuation of US$1.1 billion in the year 2016. The market is anticipated to rise at an astonishing 13% CAGR. Rising at this CAGR, the market is projected to touch a valuation of US$3.2 billion by the end of 2025.

On the basis geography, North America is expected to hold the largest market share during the forecast period. This is mainly due to the early adoption of advanced technology and presence of improved healthcare infrastructure in the region. Based on type, enterprise CTMS is projected to enjoy majority of market share in the coming few years. This is mainly due to the several benefits offered such as real-time insights, efficient tracking, and regulatory management.

Increasing Adoption of Cloud-Based Technology to Offer Lucrative Opportunities

The clinical trial management system market is expected to grow at a significant pace in the coming few years, thanks to the increasing adoption of cloud-based technology in the health care industry. This new and advanced clinical trial management system helps in collaboration of different groups at various sites in order to coordinate the successful completion of trial. Thus helping organization to effectively plan their operations. Some of the key factors expected to drive the global clinical trial management systems market is rapid improvements in research & development activities, surge in investments by governmental and non-governmental organizations and rising prevalence of chronic disorders. 

Clinical trial management systems are number of software and hardware used to manage number of clinical operation in the healthcare industry

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However, factors like lack of consumer awareness and longer approval time of clinical trials are expected to hamper the growth of the clinical trail management systems market in the coming few years. In addition to this, strict regulations to enrol patent for clinical trials is another factor projected to hinder the expansion of the clinical trial management systems market. Nevertheless, improving healthcare infrastructure in developing regions, development in life science and clinical research organizations and increasing adoption of CTMS solutions are some factors projected to hamper growth of the clinical trial management system market.

Partnerships Between Asian CROs and Pharma Companies to Boost Prospects

Further, easy availability of inexpensive resources and increasing patient pool across the globe are expected to offer several lucrative opportunities for the growth of the clinical trial management systems market. Moreover, the increasing partnerships between Asian CROs and pharma companies are other primary factor anticipated to drive the growth of the clinical trial management systems market in the coming few years.

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Blood Warmers Market: Introduction

  • Drop in the body core temperature to 36°C or lower is known as hypothermia. It occurs in 50%-90% of all operated patients. This temperature drop can be attributed to cold operating tables, lack of pre-warming, cold ambient temperatures, and use of anesthetic drugs as well as unheated blood products. Also, unheated infusion solutions and blood transfusions at approximately 4°C can reduce the body core temperature by approximately 0.25°C/unit.
  • Hypothermia can lead to sluggish wound healing and longer hospital stays. This hampers the hospital budget and increases the use of expensive drug treatment.
  • Blood warmers are applied to keep the patient’s body temperature at around 37°C before, during, and after surgery. These devices are intended to deliver peripheral warmth to the arterial piping, which helps keep the blood warm.

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Key Drivers and Restraints of Global Blood Warmers Market

  • The global blood warmers market is primarily driven by increase in the number of surgical procedures, rise in the number of suppliers of blood warmers, and high rate of adoption of portable blood warmers
  • Additionally, rise in geriatric population, increase in awareness about hypothermia, and focus on reducing the incidence of deaths caused by hypothermia are expected to fuel the global market during the forecast period
  • On the other hand, the market is likely to be restrained by product recalls in the near future. In June 2019, Vyaire Medical initiated a recall of enFlow disposable cartridges used with enFlow fluid warmer devices. The company recalled the product, as there was a risk of aluminum to be eluted from the warmer into the fluids, leading to exposure of patients to unsafe levels of aluminum.

Systems Segment to Account for a Major Share of Global Market

  • Based on product, the global blood warmers market can be classified into systems and accessories. The systems segment can be sub-divided into dry heat plate warmers and intravenous fluid tube warmers.
  • The systems segment is anticipated to dominate the global market during the forecast period, due to large patient population, increase in usage of blood warmers, and rise in the demand for blood warmer systems in blood banks

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Portable Devices Segment to Gain a Major Share of Global Market

  • Based on modality, the global blood warmers market can be classified into portable and stationary. The portable segment is projected to gain market share between 2019 and 2027, due to ease of use and convenience offered by portable devices and increasing preference for them over stationary devices.

Hospitals Segment to Offer Significant Opportunities

  • In terms of end-user, the global blood warmers market can be segmented into hospitals & clinics, ambulatory surgical centers, blood banks & transfusion centers, tissue banks, and home care
  • The hospitals segment is expected to account for a major share of the global blood warmers market by 2027. The segment is likely to be driven by increase in use of blood warmers in emergency units, inpatient rooms, and intensive care units of hospitals. Also, increase in the number of guidelines about use of blood warming devices and rise in the need to ensure patient safety are projected to promote growth of the segment during the forecast period.

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North America to Dominate Global Blood Warmers Market

  • In terms of region, the global blood warmers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global blood warmers market during the forecast period.
  • Technological advancements, presence of prominent market players, and increase in the demand for portable blood warmers are expected to drive the market in North America during the forecast period

Key Players Operating in Global Market

The global blood warmers market is highly fragmented, with a large number of domestic players accounting for a major market share. Key players operating in the global blood warmers market are:

  • 3M
  • Barkey
  • Smiths Medical
  • CELSIUS Medical
  • Geratherm Medical AG
  • Stihler Electronic GmbH
  • Carefusion
  • Belmont Instrument, LLC
  • Keewell Medical Technology Co., Ltd.
  • QinFlow Ltd
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Arthrodesis Plates Market Introduction

Arthrodesis of a joint is an orthopedic procedure often performed in the carpus and tarsus part. Arthrodesis is most commonly indicated after an injury caused by hyperextension. Falling or other impact traumas that hyperextend the carpus can cause severe injury to the numerous small palmar carpal ligaments that support carpal joints. Patients with varying severities of lameness, swelling, and pain have high chances of suffering carpal fractures or dislocations.

Plate stabilization of arthrodesis provides the most substantial and reliable fixation. The common biomechanical location for a pancarpal arthrodesis bone plate is on the palmar surface of the carpus. Plates are sized appropriately for carpal and metacarpal bones. Arthrodesis plates are available in small, medium, and large size which is commonly used for patients having degenerative arthritis, brachial plexus palsies, and spastic disorders. The size of arthrodesis plates varies according to the weight and size of patients.

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Arthrodesis Plates Market – Competitive Landscape

Major players operating in the global arthrodesis plates market include B. Braun Melsungen, Zimmer Biomet Holdings, Globus Medical. Inc., Ortho Solutions, Medartis AG, CarboFix Orthopedics Ltd., Stryker Corporation, Vilex in Tennessee, Inc., and Acumed LLC.

Zimmer Biomet Holdings

Established in 1927, Zimmer Biomet Holdings is located in Warsaw, the U.S. The company develops, produces, and distributes a range of joint replacement products and surgical solutions that serve health care institutions across the globe.

Zimmer Biomet recorded net sales of US$ 6.0 Bn in 2015, reflecting 35% constant currency revenue. The merger of Zimmer and Biomet is further enhancing and diversifying the company’s offerings to reach the most comprehensive portfolio of solutions available for musculoskeletal health.

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Stryker Corporation

Established in 1941, Stryker Corporation is located in Kalamazoo, the U.S. Stryker Corporation offers a comprehensive portfolio of solutions for primary, revision knee, and partial hip anthroplasty. The company’s implants are designed to provide surgeons with multiple options to treat patients with osteoarthritis.

Stryker Corporation’s product portfolio includes implants utilized in joint replacement and trauma surgeries, surgical equipment and neurosurgical, neurovascular, and spinal devices as well as other medical devices employed in various medical specialties.

Arthrodesis Plates Market Dynamics

High Prevalence of Birth Anomalies Drives Demand for Arthrodesis Plates

The global arthrodesis plates market is driven by high prevalence of birth anomalies. Increase in incidence of premature birth with bone deformities and ankle & finger abnormalities are the other factors projected to propel the global arthrodesis plates market.

According to an article published in reumatologia, musculoskeletal disorders were the cause of nearly 166 million years lived with disability (YLDs), with neck, ankle, and low back pain accounting for 69.9% deaths.

Manufacturers Focus on Innovative Techniques to Enter Developing Arthrodesis Plates Market

Manufacturers in the arthrodesis plates market are increasingly investing in the research and development of new and innovative techniques to develop modified arthrodesis plates. These are also focusing on offering highly-efficient and reliable arthrodesis plates to provide better protection against breakage and fragility.

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The global arthrodesis plates market is highly fragmented, with the presence of several manufacturers, especially in the developing regions. Emergence of new technologies for wrist arthrodesis companies are introducing fusion plating system, standalone system to avoid extensor tendon irritation. These factors are anticipated to augment the global arthrodesis plates market in the next few years. Moreover, with the increasing number of manufacturers, product differentiation has become vital to gain competitive edge in the arthrodesis plates market.

Inflated Cost of Devices and Nonunion of Plates with Bone

Inflated cost of devices is a key factor hampering the growth of the global arthrodesis plates market. High cost of plates due to supply of raw materials is getting costlier and treatment procedures prices are increasing, hence the factors are likely to hamper the arthrodesis plates market in near future. Moreover, nonunion of plates with bones after surgery increases the risk of inflammation and pain among patients. This is also expected to restrain the global market during forecast period.

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Some of the prominent participants in the global hybrid operating room market are Trumpf Medical, Toshiba, IMRIS, Eschmann Equipment, Skytron, Stryker, MAQUET, Philips, GE Healthcare, and Siemens Healthineers. In order to steal a march over their competitors, such players are banking upon mergers and acquisitions and partnerships which will enable them to tap into larger resources, diversify products, and access markets in various corners of the world.

A report by Transparency Market Research predicts the global market for hybrid operating room to witness intense competition in the years ahead with players trying to outgun one another on the basis of product differentiation and competitive prices.

As per the TMR report, the global market for hybrid operating room will likely rise at a steady CAGR of 4.60% from 2017 to 2022, to become worth US$828.1 bn by the end of 2022 from US$661.8 mn by 2017.

Component-wise, key segments of the global market for hybrid operating room are operating room fixtures, surgical instruments, intraoperative diagnostic imaging systems, and audiovisual display systems and tools. Among them, the segment of intraoperative diagnostic imaging systems are witnessing significant demand – a trend that is expected to continue in the near future.

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Geographically, some of the key regions of the market for hybrid operating room studied in the report are North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. North America, of them, is a key contributor to the market. The market in North America is powered by the U.S. and Canada. In the near future too, the market is predicted to hold on to its leading share on the back of growing initiatives by hospitals to upgrade their operating rooms, the increasing number of ambulatory surgery centers, and rising requirement for various surgical procedures.

Continued Technological Progress Drives Demand in Market

At the forefront of driving the global market for hybrid operating room is the continuous technological progress in the domain. Leading players are seen pouring money into creating more sophisticated equipment, which in turn is driving demand.

Besides, swift uptake of robotic surgeries in Asian nations of Japan, Korea, China, and Taiwan are also catalyzing growth in the market, along with continued upgrading of operating rooms, particularly in developed regions.

Further serving to boost the market for hybrid operating room is the increasing allocations by the healthcare sector and government support towards research and development of novel equipment.

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High Installation Costs Dampen Demand

Dealing a blow to demand for hybrid operating rooms, on the other hand, is the high cost of installation of the equipment. Complexity of the installation process is also proving to be a restraint. However, helping to overcome the obstacle is the rising preference for minimally invasive surgeries among patients, supportive policies, and increasing investments for development of new technologies.

The most prominent trend in this market is the strategic alliances among multinational players and regional and small-scale OEMs.

Hospitals and ambulatory surgical centers (ASCs) are key end use segments in market.

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