by The global 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:
Climate resiliency in the healthcare sector offers access to reliable and affordable healthcare services in the face of climate-related disruptions such as extreme weather events. Climate resilient healthcare infrastructure and facilities help in continuous delivery of quality medical care. Sustainable healthcare systems aim to minimize environmental footprint and reduce carbon emissions through renewable energy sourcing, green building, reuse and recycling.
Market key trends:
One of the key trends in the climate resilient and sustainable health systems market is adoption of renewable energy sources like solar and wind. Many healthcare facilities are investing in on-site renewable energy systems for back-up power and to reduce electricity bills and carbon footprint. For example, Brigham and Women’s Hospital in Boston has installed 925 kW solar photovoltaic system and 2,000 kW fuel cells that can generate up to 70% of campus electricity needs.
Market Key Trends:
One of the key trends within the Climate Resilient and Sustainable Health Systems Market is the increasing focus on building systems and infrastructure that can withstand climate-related disasters and emergencies. Healthcare facilities are investing more in renewable energy sources, zero-carbon designs, and backup power solutions to ensure continuity of care even during extreme weather events like floods, hurricanes, wildfires etc. This is helping make healthcare more resilient and sustainable for the long run.
SWOT Analysis:
Strength: The market has strong growth potential given the increasing climate risks and need for sustainability in the healthcare industry.
Weakness: Upgradation of existing infrastructure requires large investments which may not be feasible for some healthcare providers.
Opportunity: Rise in government initiatives and funding for building climate-smart health systems present lucrative opportunities for market players.
Threats: Delays in projects and policy implementation can negatively impact market growth. Rising frequency and intensity of climate disasters also pose threats.
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 awareness about climate change risks to public health.
North America dominates the market currently due to strict sustainability regulations and higher investments. However, Asia Pacific is expected to grow at the fastest pace due to rising healthcare infrastructure development and climate action plans in countries like India and China.
Key players operating in the climate resilient and sustainable health systems market include Johnson Controls, Honeywell, Schneider Electric, Siemens Healthineers, Philips, GSK, AbbVie, Pfizer, Merck & Co., and Novartis. These organizations are focusing on product innovation and partnerships to strengthen their positions in the emerging market space.
*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, chemicals and materials, defense and aerospace, consumer goods, etc.
