Global healthcare facility energy management systems revenue is expected to grow from $948.8 million annually in 2015 to $2.2 billion in 2024, according to a new report from Navigant Research, which examines the state of the global market for healthcare EMSs and technologies.
Although North America and Europe are expected to continue leading in EMS deployments in the near term, researchers expect increasing investment in Asia Pacific in the mid and long term, the report states.
"While energy management technologies have been employed in commercial buildings for the past two decades, they remain far from ubiquitous in the healthcare sector," Casey Talon, senior research analyst with Navigant Research, said in a statement. "The average hospital uses 2.5 times the amount of energy compared to other commercial buildings, and EMSs provide an important mechanism for reducing energy costs while ensuring the reliability of power supplies.”
According to the report, a number of factors will affect how fast EMS technologies are deployed in healthcare facilities. Those include rising energy costs and general budget constraints, as well as competitive pressure between facilities.
Additionally, after natural disasters such as Hurricane Katrina, Hurricane Sandy and Typhoon Haiyan, resilience concerns have become a growing factor in implementing EMS technologies in healthcare facilities, according to the report.
"Above all, hospitals are concerned with saving lives, and therefore resilient power supply in the event of a utility outage will affect the market for microgrid software in healthcare facilities over the next decade," the report reads.
Also, the report notes, regional codes and regulations will continue to drive the market for EMSs in healthcare facilities.
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