PUBLISHER: The Business Research Company | PRODUCT CODE: 1485141
PUBLISHER: The Business Research Company | PRODUCT CODE: 1485141
Green hospitals are healthcare facilities dedicated to prioritizing environmental sustainability and minimizing their ecological impact. These facilities employ various practices, including waste reduction, water conservation, and the use of eco-friendly materials, to promote both human health and environmental well-being.
Key green technology types utilized in green hospitals include energy-efficient lighting, renewable energy sources, and waste reduction programs. Energy-efficient lighting involves the use of LED technology, occupancy sensors, and daylight harvesting to reduce energy consumption while ensuring optimal illumination levels. Green hospitals typically provide a range of medical services, surgical services, and emergency care, often striving to attain certifications such as Leadership in Energy and Environmental Design (LEED) certification, Green Globes certification, and Energy Star certification. These hospitals may be owned by government entities, private organizations, or non-profit institutions, serving end users such as hospitals, clinics, and long-term care facilities.
The green hospitals research report is one of a series of new reports from The Business Research Company that provides green hospitals market statistics, including the green hospitals industry's global market size, regional shares, competitors with a green hospitals market share, detailed green hospitals market segments, market trends and opportunities, and any further data you may need to thrive in the green hospitals industry. This green hospitals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The green hospitals market size has grown rapidly in recent years. It will grow from $40.56 billion in 2023 to $45.81 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth observed during the historical period can be attributed to several key factors, including the growing global awareness of environmental challenges, the imperative need for sustainable practices across industries, an increasing number of hospitals embracing sustainability initiatives, the widespread adoption of renewable energy sources, and the significant contributions of green hospitals towards reducing carbon emissions and environmental impact.
The green hospitals market size is expected to see rapid growth in the next few years. It will grow to $75.4 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The projected growth in the forecast period can be attributed to organizations actively assisting hospitals in reaching their zero-emission objectives, the widespread utilization of sustainable building materials, ongoing development of green hospital infrastructure, a rising adoption of green procurement policies within healthcare systems, and concerted healthcare initiatives aimed at promoting sustainability practices. Key trends anticipated during this period encompass continuous technological advancements, the integration of advanced technologies such as energy-efficient lighting, renewable energy sources, and waste reduction programs to bolster sustainability efforts, as well as an expanding array of environmentally conscious healthcare services aimed at reducing the ecological footprint of healthcare facilities.
The surge in government initiatives aimed at promoting sustainable healthcare is poised to drive the growth of the green hospital market in the foreseeable future. These initiatives encompass policies and actions geared towards ensuring healthcare systems meet present needs while safeguarding resources and the environment for future generations. By prioritizing resource conservation, equitable healthcare access, and advocating eco-friendly practices, governments are fostering sustainability in healthcare infrastructure. This includes promoting energy-efficient facilities, integrating renewable energy sources, and implementing waste reduction measures, particularly within green hospitals. For instance, in November 2023, The American Hospital Dubai responded to the UAE government's sustainability call by introducing the American Hospital Sustainable Policy, targeting environmentally sustainable practices by 2025. Notably, the hospital achieved significant progress by reducing energy use intensity and implementing water conservation measures, positioning it as a leader in carbon reduction efforts. Thus, the rising government initiatives are instrumental in propelling the growth of the green hospital market.
Leading companies in the green hospital market are adopting a strategic partnership approach to embed sustainability as a core priority in healthcare facilities. These partnerships facilitate the development and implementation of sustainable practices, technologies, and initiatives to promote environmental conservation and operational efficiency in hospitals. For instance, in February 2024, the Nordic Center for Sustainable Healthcare (NCSH) partnered with Mamta Health Institute for Mother and Child (MAMTA HIMC) to establish the Green Hospital Initiative. This collaborative effort aims to empower hospitals and healthcare providers to enhance efficiencies, environmental stewardship, patient safety, and care quality through the adoption of green practices. By offering guidance and fostering collaboration, this initiative drives positive change within healthcare facilities, emphasizing sustainable leadership, waste management, energy efficiency, water conservation, and more.
In February 2023, Lenus Capital Partners acquired Clinica Medicadiz SAS, aligning with its vision to enhance sustainable healthcare services, particularly in Colombia's intermediate urban centers. This acquisition underscores Lenus' commitment to advancing environmentally sustainable practices within the healthcare sector. Clinica Medicadiz SAS, a Colombia-based green hospital and healthcare company, specializes in implementing eco-friendly solutions such as energy efficiency, water treatment, and air treatment. Through this strategic alignment, Lenus is poised to oversee nearly 1,000 healthcare beds nationwide while exploring expansion opportunities in Colombian and Latin American cities, further consolidating its position in sustainable healthcare investments.
Major companies operating in the green hospitals market are Hitachi Ltd., Siemens AG, Schneider Electric SE, Honeywell International Inc., Johnson Controls International PLC, Lyngsoe Systems A/S, Medline Industries Inc., Eaton Corp., Waste Management Inc., Koninklijke Philips N.V., Trane Technologies Plc, Northwell Health Inc., Dignity Health, Owens-Corning Overseas Holdings Inc., GE HealthCare Technologies Inc., Mount Sinai Health System Inc., Stericycle Inc., HDR Inc., Celitron Inc., Max Healthcare Ltd., Jehangir Hospital, Dell Children's Medical Center, Gundersen Lutheran Health System Inc., Boulder Community Health, Bronson Methodist Hospital, All India Institutes of Medical Sciences (AIIMS), Tuttnauer B.V
North America was the largest region in the green hospitals market in 2023. Asia-Pacific is the fastest growing region in the market. The regions covered in the green hospitals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the green hospitals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The green hospitals market includes revenues earned by entities by sustainable procurement services, carbon footprint reduction services, regulatory compliance consulting, and sustainability performance improvement. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.