by The Climate Resilient and Sustainable Health Systems Market is estimated to be valued at US$ 8.45 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The climate resilient and sustainable health systems includes products and services that focus on minimizing environmental impacts of healthcare facilities and operations. This involves usage of renewable energy sources, energy efficient equipment and processes, reduction in carbon footprint, sustainable building infrastructure, and eco-friendly transportation solutions for healthcare needs. The growing concern about carbon emissions from healthcare activities is driving many hospitals and healthcare providers to adopt green infrastructure and operations.
Market Dynamics:
One of the major drivers for climate resilient and sustainable health systems is the stringent environmental regulations regarding carbon footprint of commercial and public buildings. Non-compliance can result in heavy fines, which is motivating hospitals and clinics to incorporate renewable energy solutions, LED lighting, low-emission equipment, and zero-waste management. Furthermore, sustainable healthcare infrastructure is gaining popularity as they provide long-term cost savings on energy bills and maintenance costs. This is encouraging healthcare providers to invest in green buildings and renewable energy integration to offset rising operational expenses.
Segment Analysis
The climate resilient and sustainable health systems market is segmented into hardware, software and services. The hardware segment currently dominates the market due to growing adoption of connected medical devices and other digital health technologies across healthcare facilities. Hardware components such as sensors, controllers and medical devices form an integral part of climate resilient infrastructure and help in remote monitoring of patients.
PEST Analysis
Political: Governments around the world are imposing stringent regulations towards development of green and sustainable infrastructure in the healthcare sector. This is expected to drive investments in climate resilient technologies.
Economic: The rising healthcare costs due to climate change induced diseases is prompting institutions to adopt sustainable solutions in long term.
Social: Increasing public awareness about climate change and focus on wellness is contributing to the demand for climate friendly hospitals and medical equipment.
Technological: Advancements in areas of artificial intelligence, Internet of Things and automation allows implementation of intelligent and efficient energy management systems.
Key Takeaways
The global climate resilient and sustainable health systems market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing investments by governments and healthcare facilities towards development of green infrastructure.
The North America region currently dominates the market due to strict regulatory environment and presence of major players. However, Asia Pacific is expected to witness fastest growth due to rising healthcare expenditure, growing medical tourism and government initiatives in countries like China and India for sustainable hospitals.
Key players operating in the climate resilient and sustainable health systems market are Johnson Controls, Honeywell, Schneider Electric, Siemens Healthineers and Philips. These players are focusing on developing innovative IoT-driven solutions including connected medical equipment, smart HVAC systems and renewable energy integration products. They are also collaborating with healthcare providers for implementation of sustainability programs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
