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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Climate Resilient and Sustainable Health Systems aim to protect health system infrastructure and service delivery from climate change impacts like rising temperatures, extreme weather events, and environmental degradation. They promote low carbon practices and prioritize vulnerable populations. Products in this market include climate-proof medical facilities, disaster response equipment, renewable energy systems for hospitals, climate-smart diagnostics and treatments, green transport and supply chain solutions. Adopting such practices can help health systems strengthen resilience, cut costs and carbon footprint, while ensuring continuity of essential health services.
Market key trends:
One of the major trends in the market is growing awareness about the health impacts of climate change. Studies show climate change exacerbates health issues like cardiovascular and respiratory diseases. It also increases risks of illnesses like vector-borne diseases, food and water-borne infections. Governments and healthcare providers are recognizing the importance of building climate resilience given these threats. Another key trend is increasing focus on off-grid and distributed energy solutions for healthcare infrastructure in remote regions vulnerable to climate risks. This includes adopting solar panels, mini-grids and battery storage to ensure uninterrupted power supply.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the climate resilient and sustainable health systems market is low due to high funding requirements, R&D costs and high capital investment needed to start a new operation in this market.
Bargaining power of buyers: The bargaining power of buyers in the climate resilient and sustainable health systems market is high as there are many established players operating in this market providing similar products and services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers providing key components and equipment required by players operating in this market.
Threat of new substitutes: The threat of new substitutes is low in this market as technologies and products used by players have very limited substitutes.
Competitive rivalry: High due to presence of many international and domestic players providing similar offerings.
Key Takeaways
The global climate resilient and sustainable health systems market is expected to witness high growth, exhibiting 12% CAGR over the forecast period 2023 to 2030, due to increasing climate change impacts and rising focus on building resilience among healthcare infrastructure and operations.
Regional analysis: North America dominated the market and accounted for over 35% share in 2023 due to stringent regulatory environment promoting sustainability. Asia Pacific is expected to exhibit fastest growth during the forecast period backed by rapid infrastructure development and initiatives to combat adverse climate impacts in countries such as India and China.
Key players operating in the climate resilient and sustainable health systems market are Johnson Controls, Honeywell, Schneider Electric, Siemens Healthineers, Philips, GSK, AbbVie, Pfizer, Merck & Co., Novartis. Key players are focusing on sustainable product innovation and collaborations with public healthcare organizations to strengthen market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it