The global Hospital HVAC Systems Market size is projected to reach USD 11.34 billion by 2025 and expected to grow with the CAGR of 7.2% over the forecast period from 2019 to 2025, according to anew report by Million Insights. Hospitals have precise needs in terms of aseptic conditions and maintain air quality as per the health conditions of the patients. Increasing awareness about maintaining hygiene and cleanliness coupled with the imminent need for requisite temperature in the healthcare sector is projected to fuel the market growth.
The healthcare industry is booming due to the rising number of luxury hospitals as well as healthcare tourism. U.S. International Trade Administration reported that medical tourism in India is projected to grow from USD 3 billion, in 2018 to USD 7 billion by the end of the year 2020. Therefore, an increasing number of facilities in the healthcare sector will positively impact on the installation of HVAC systems in hospitals, thereby expected to boost the market growth in the next few years.
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Ventilation and temperatures help to reduce the risk of diseases caused by microorganisms in the hospital environment. In hospitals, a controlled environment is considered as a catalyst in the process of healing and offers comfort to the patients. The HVAC demand in hospitals is expected to grow over the forecast period owing to increasing awareness about the positive impact on the environment which helps to recover patient’s health.
The hospital HVAC system market is highly competitive due to the presence of well-established players such as United Technologies Corporation; Lennox International, Daikin Industries, Ltd.; and Trane, Inc. In order to sustain in the competitive market, the market players are offering unique solutions to fulfill the hospital’s requirements. For example, Honeywell International Inc. introduced Honeywell Enterprise Buildings Integrator (EBI) for hospitals that enables the user to monitor and control the HVAC system remotely and offers real-time communication between various connected systems through a single platform.
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Further key findings from the report suggest:
• In 2018, the cooling segment accounted for the largest value owing to increasing demand for air conditioning systems in hospitals.
• Intensive Care Units (ICU) segment is projected to grow with significant growth rate during the forecast period due to increasing number of ICUs in hospitals.
• In Europe, Germany has accounted for over 20% market share, in 2018. The country is projected to witness significant growth during the forecast period due to increasing investment in healthcare industry.
• Middle East & Africa is projected to grow with the CAGR of more than 5.0% from 2019 to 2025 due to upcoming large number of healthcare projects in this region.
Million Insights has segmented the global hospital HVAC systems market on the basis of product, end-use and region:
Hospital HVAC Systems Product Outlook (Revenue, USD Billion, 2015 – 2025)
Hospital HVAC Systems End Use Outlook (Revenue, USD Billion, 2015 – 2025)
• Intensive Care Unit (ICU)
• Operating Rooms
• Airborne Infection Isolation Rooms
• Protective Environment Rooms
• Compounding Pharmacies
Hospital HVAC Systems Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• South Korea
• South America
• Middle East & Africa
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