Hospital HVAC Systems Industry is the Next Big Thing| Fortune

The global hospital HVAC systems market size is expected to reach USD 11.34 billion by 2025, registering a CAGR of 7.2% over the forecast period, according to a study conducted by Grand View Research, Inc. Hospitals have specific requirements in terms of air quality and aseptic conditions owing to critical health condition of patients. The imminent need to ensure requisite temperature coupled with rising awareness regarding maintaining a clean and hygienic environment at healthcare facilities is anticipated to positively affect the growth.

The healthcare industry is witnessing an upward trend in terms of number of luxury hospital establishments and rise in medical tourism. According to the data published by the International Trade Administration of U.S, the India medical tourism market is expected to grow from USD 3 billion in 2018 to approximately USD 7 billion by 2020. Thus, rise in the number of healthcare facilities will consequently result in new installations of HVAC systems, thereby driving the demand.

Temperature and ventilation control help control the spread of disease-causing microorganisms prevailing in the hospital environment. Additionally, the controlled environment in hospitals act as a catalyst in healing process along with providing comfort to the patients. The demand for HVAC units from hospitals is anticipated to witness significant growth over the forecast period, due to the rising awareness regarding the impact that a healthy environment has on expediting the healing process of patients.

The hospital HVAC systems market is highly competitive in nature and is marked by the presence of key players including Lennox International, United Technologies Corporation; Daikin Industries, Ltd.; and Trane, Inc. In a bid to sustain in the intensifying competition, HVAC system manufacturers are offering unique solutions designed specifically to cater to hospital requirements. For instance, Honeywell International Inc. offers Honeywell Enterprise Buildings Integrator (EBI) specially designed for healthcare facilities that enables end users to control and monitor HVAC systems remotely, also providing real-time communication between multiple connected systems via single platform.

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Further key findings from the study suggest:

• The cooling segment accounted for the highest value share in 2018, owing to rising demand for air conditioning systems in hospitals
• The demand for HVAC systems in Intensive Care Units (ICU) is expected to grow at a significant pace over the forecast period owing to the rising number of ICUs in hospitals
• Germany accounted for more than 20% of the Europe market share in 2018. The country is anticipated to witness substantial growth over the forecast period owing to multitude of investments expected in the healthcare industry
• Middle East and Africa is anticipated to exhibit a steady CAGR of over 5% in the next six years owing to large number of upcoming healthcare projects in the region