Healthcare Technology Management Market by Service(Maintenance & Repair, Integrated Software Platform, Quality & Regulatory compliance, Labour Management, Supply chain, Cyber Security) & Facility Type(Acute, Post Acute & Non Acute) - US Forecasts to 2026

Abstract
The US healthcare technology management market is projected to reach USD 12.9 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 15.5% during the forecast period. Growth in this market is driven by factors such as the need for better asset management in hospitals and a rising focus on preventive medical equipment maintenance. The advantages offered by ISOs and the rising need for data security further contribute to this market’s growth.

However, the dearth of skilled technicians and clinical/biomedical engineers is expected to restrain the growth of this market during the forecast period.

“Maintenance & repair segment is expected to grow at the highest rate during the forecast period”

Based on the type of service, the healthcare technology management market is segmented into maintenance & repair, capital planning, integrated software platform, labor management, supply chain (procurement), cyber security, and quality & regulatory compliance. The maintenance & repair segment accounted for the largest share of 36.14% of the US healthcare technology management market in 2020. The need to improve patient safety, the growing adoption of advanced medical devices/equipment across various healthcare facilities, and government initiatives to encourage the implementation of imaging systems are some of the other factors driving the growth of this market

“Acute Care Facilities segment is estimated to account for the largest share of the US healthcare technology management market in 2020”

Based on facility types, the US healthcare technology management market is segmented into acute care, post-acute care, and non-acute care facilities. Acute care facilities accounted for the largest share of the US healthcare technology management market in 2020 and are expected to grow at the highest CAGR during the forecast period. The large share and high growth rate of the acute care facilities segment can largely be attributed to factors such as the overall increase in patient volumes, the need for better clinical asset management, and the need to improve the quality of patient care, thus pushing demand for healthcare technology management services.

Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (33%), Tier 2 (39%), and Tier 3 (28%)
• By Designation: C-level (44%), Director-level (35%), and Others (21%)

Some major players in the US healthcare technology management market are GE Healthcare (US), TRIMEDX (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Sodexo (France), Crothall Healthcare (US), Agility Inc (US), RENOVO Solutions (US), ABM Industries Incorporated (US), JANNX Medical System (US) and the InterMed Group (US)

Research Coverage
•The report studies the US healthcare technology management market based on type of service and facility type.
•The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth
•The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders
•The report studies micro-markets with respect to their growth trends, prospects, and contributions to the US healthcare technology management market
•The report forecasts the revenue of market segments with respect to US region

Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the US healthcare technology management market and provides them information on key market drivers, restraints, challenges, and opportunities.

Content
Table of Contents

1INTRODUCTION12
1.1OBJECTIVES OF THE STUDY12
1.2MARKET DEFINITION13
TABLE 1INCLUSIONS & EXCLUSIONS OF THE STUDY13
1.3MARKET SCOPE14
1.3.1MARKETS COVERED14
1.3.2YEARS CONSIDERED FOR THE STUDY14
1.4CURRENCY15
1.5STAKEHOLDERS15
2RESEARCH METHODOLOGY16
2.1RESEARCH DATA16
FIGURE 1RESEARCH DESIGN16
2.1.1SECONDARY DATA17
2.1.1.1Key data from secondary sources18
2.1.2PRIMARY RESEARCH18
FIGURE 2PRIMARY SOURCES19
2.1.2.1Key data from primary sources20
2.1.2.2Breakdown of primary interviews20
FIGURE 3BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE AND DESIGNATION20
2.2MARKET SIZE ESTIMATION METHODOLOGY20
2.2.1APPROACH: REVENUE MAPPING-BASED MARKET ESTIMATION21
FIGURE 4MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS (2020)21
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING22
2.2.2GROWTH FORECAST23
FIGURE 6IMPACT OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES ON MARKET GROWTH & CAGR23
FIGURE 7TOP-DOWN APPROACH24
2.2.3PRIMARY RESEARCH VALIDATION25
FIGURE 8KEY INSIGHTS FROM PRIMARY EXPERTS25
2.3MARKET BREAKDOWN & DATA TRIANGULATION26
FIGURE 9DATA TRIANGULATION METHODOLOGY26
2.4MARKET RANK ESTIMATION27
2.5ASSUMPTIONS FOR THE STUDY27
2.6RISK ASSESSMENT28
TABLE 2RISK ASSESSMENT: US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET28
2.7LIMITATIONS28
3EXECUTIVE SUMMARY29
FIGURE 10US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE, 2021 VS. 2026 (USD MILLION)29
FIGURE 11US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE, 2021 VS. 2026 (USD MILLION)30
4PREMIUM INSIGHTS31
4.1US HEALTHCARE TECHNOLOGY MANAGEMENT: MARKET OVERVIEW31
FIGURE 12NEED FOR BETTER ASSET MANAGEMENT IN HOSPITALS AND THE RISING FOCUS ON PREVENTIVE MEDICAL EQUIPMENT MAINTENANCE ARE KEY FACTORS DRIVING MARKET GROWTH31
4.2US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET,
BY FACILITY TYPE (2021–2026)32
FIGURE 13ACUTE CARE FACILITIES TO DOMINATE THE US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET DURING THE FORECAST PERIOD32
4.3US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE AND FACILITY TYPE (2021)33
FIGURE 14MAINTENANCE & REPAIR SEGMENT ACCOUNTED FOR THE LARGEST SHARE OF THE US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET IN 202133
5MARKET OVERVIEW34
5.1INTRODUCTION34
5.2MARKET DYNAMICS34
FIGURE 15HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES34
5.2.1DRIVERS35
5.2.1.1Need for better asset management in hospitals35
5.2.1.2Advantages offered by ISOs35
5.2.1.3Rising focus on preventive medical equipment maintenance36
5.2.1.4Rising need for data security36
5.2.2RESTRAINTS36
5.2.2.1Dearth of skilled technicians and clinical/biomedical engineers36
5.2.3OPPORTUNITIES37
5.2.3.1Increasing consolidation in the US healthcare industry37
5.2.4CHALLENGES37
5.2.4.1Preference for multi-vendor contracts37
5.3REGULATORY LANDSCAPE38
5.3.1ISO STANDARDS38
5.3.1.1ISO 9001:201538
5.3.1.2ISO 13485:201638
5.4IMPACT OF COVID-19 ON THE HEALTHCARE TECHNOLOGY MANAGEMENT MARKET39
5.5REGULATORY ANALYSIS40
5.5.1US40
 
6US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE41
6.1INTRODUCTION42
TABLE 3US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE, 2019–2026 (USD MILLION)42
6.2MAINTENANCE & REPAIR43
6.2.1MAINTENANCE & REPAIR IS THE LARGEST SEGMENT IN THE MARKET43
6.3CAPITAL PLANNING43
6.3.1CAPITAL PLANNING SEGMENT TO REGISTER THE HIGHEST GROWTH IN THE FORECAST PERIOD43
6.4INTEGRATED SOFTWARE PLATFORM44
6.4.1NEED FOR PROVIDING SAFE, EFFICIENT, AND QUALITY HEALTHCARE TO PATIENTS TO DRIVE THE MARKET44
6.5QUALITY & REGULATORY COMPLIANCE44
6.5.1QUALITY & REGULATORY COMPLIANCE IS EXPECTED TO GAIN IMMENSE IMPORTANCE OVER THE NEXT DECADES44
6.6LABOR MANAGEMENT45
6.6.1LABOR MANAGEMENT SERVICES ARE INCREASINGLY BEING ADOPTED IN HEALTHCARE ORGANIZATIONS AS THEY PROVIDE RESOURCE DEMAND AND SUPPLY DATA45
6.7SUPPLY CHAIN (PROCUREMENT)45
6.7.1SUPPLY CHAIN STRATEGY SERVICES BY HTM SERVICE PROVIDERS HELP TO INCREASE ASSETS AND EQUIPMENT AVAILABILITY AND UTILIZATION RATES45
6.8CYBER SECURITY46
6.8.1MOST HEALTHCARE FACILITIES ARE EMPLOYING MULTIPLE PRACTICES TO MITIGATE DATA SECURITY RISKS BY PARTNERING WITH IT CONSULTING FIRMS46
7US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE47
7.1INTRODUCTION48
TABLE 4US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE, 2019–2026 (USD MILLION)48
7.2ACUTE CARE FACILITIES48
TABLE 5US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)49
7.2.1ACUTE HOSPITALS49
7.2.1.1Increasing prevalence of chronic diseases and rising patient volumes in acute hospitals will drive market growth49
7.2.2CHILDREN’S HOSPITALS50
7.2.2.1Rising number of hospitals and efforts to improve child care and entertainment capabilities to drive market growth50
7.2.3ACADEMIC MEDICAL CENTERS50
7.2.3.1AMCs train medical students and boast cutting-edge treatment capabilities50
7.2.4MILITARY TREATMENT FACILITIES50
7.2.4.1The military health system offers healthcare benefits and services through programs—a key factor driving market growth50
7.2.5AMBULATORY SURGERY CENTERS51
7.2.5.1Patients are opting for ambulatory care over hospitals due to convenience51
7.3POST-ACUTE CARE FACILITIES51
TABLE 6US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR POST-ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)52
7.3.1LONG-TERM ACUTE CARE FACILITIES52
7.3.1.1Long-term facilities are the fastest-growing treatment facilities for elderly care52
7.3.2SKILLED NURSING FACILITIES52
7.3.2.1Increasing admissions of elderly people in skilled nursing facilities to drive the market52
7.3.3OTHER POST-ACUTE CARE FACILITIES53
7.4NON-ACUTE CARE FACILITIES53
TABLE 7US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR NON-ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)53
7.4.1PHYSICIAN OFFICES & CLINICS54
7.4.1.1Growing adoption of digitized workflows and modern solutions in physician offices and clinics to drive market growth54
7.4.2OTHER NON-ACUTE SETTINGS54
8COMPETITIVE LANDSCAPE55
8.1OVERVIEW55
8.2KEY DEVELOPMENTS55
FIGURE 16KEY DEVELOPMENTS BY PROMINENT PLAYERS IN THE US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET55
8.3MARKET RANKING56
FIGURE 17US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET RANKING FOR MULTI-VENDOR OEMS (2020)56
FIGURE 18US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET RAKING ANALYSIS FOR INDEPENDENT SERVICE ORGANIZATIONS (2020)57
8.4COMPETITIVE BENCHMARKING57
TABLE 8FOOTPRINT OF COMPANIES IN THE US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET57
8.5COMPANY EVALUATION MATRIX DEFINITION & METHODOLOGY58
8.5.1STARS58
8.5.2EMERGING LEADERS58
8.5.3PERVASIVE PLAYERS58
8.5.4PARTICIPANTS58
FIGURE 19US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: COMPANY EVALUATION QUADRANT (2020)59
8.6COMPETITIVE SITUATIONS AND TRENDS60
8.6.1SERVICE LAUNCHES60
TABLE 9SERVICE LAUNCHES, JANUARY 2018–FEBRUARY 202260
8.6.2DEALS61
TABLE 10DEALS, JANUARY 2018–FEBRUARY 202261
8.6.3OTHER DEVELOPMENTS63
TABLE 11OTHER DEVELOPMENTS, JANUARY 2018–FEBRUARY 202263
9COMPANY PROFILES64
(Business overview, Services offered, Recent developments & MnM View)*
9.1KEY PLAYERS64
9.1.1GE HEALTHCARE64
TABLE 12GE HEALTHCARE: BUSINESS OVERVIEW64
FIGURE 20GE HEALTHCARE: COMPANY SNAPSHOT (2021)65
9.1.2SIEMENS HEALTHINEERS (A SUBSIDIARY OF SIEMENS GROUP)68
TABLE 13SIEMENS HEALTHINEERS: BUSINESS OVERVIEW68
FIGURE 21SIEMENS HEALTHINEERS: COMPANY SNAPSHOT (2021)69
9.1.3KONINKLIJKE PHILIPS N.V.72
TABLE 14KONINKLIJKE PHILIPS N.V.: BUSINESS OVERVIEW72
FIGURE 22KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2020)73
9.1.4TRIMEDX76
TABLE 15TRIMEDX: BUSINESS OVERVIEW76
9.1.5AGILITI INC.78
TABLE 16AGILITI INC.: BUSINESS OVERVIEW78
FIGURE 23AGILITI INC.: COMPANY SNAPSHOT (2020)78
9.1.6CROTHALL HEALTHCARE (PART OF COMPASS ONE HEALTHCARE AND COMPASS GROUP USA)80
TABLE 17CROTHALL HEALTHCARE: BUSINESS OVERVIEW80
FIGURE 24COMPASS GROUP: COMPANY SNAPSHOT (2021)81
9.1.7SODEXO84
TABLE 18SODEXO: BUSINESS OVERVIEW84
FIGURE 25SODEXO: COMPANY SNAPSHOT (2021)85
9.1.8ABM INDUSTRIES INCORPORATED87
TABLE 19ABM INDUSTRIES INCORPORATED: BUSINESS OVERVIEW87
FIGURE 26ABM INDUSTRIES INCORPORATED: COMPANY SNAPSHOT (2020)88
9.1.9RENOVO SOLUTIONS89
TABLE 20RENOVO SOLUTIONS: BUSINESS OVERVIEW89
9.1.10INTERMED GROUP91
TABLE 21INTERMED GROUP: BUSINESS OVERVIEW91
9.1.11JANNX MEDICAL SYSTEMS93
TABLE 22JANNX MEDICAL SYSTEMS: BUSINESS OVERVIEW93
*Details on Business overview, Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
 
10APPENDIX95
10.1DISCUSSION GUIDE95
10.2KNOWLEDGESTORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL98
10.3AVAILABLE CUSTOMIZATIONS100
10.4RELATED REPORTS100
10.5AUTHOR DETAILS101