February 21, 2024
Climate Resilient and Sustainable Health Systems Market

Climate Resilient and Sustainable Health Systems is Driven by Growing Environmental Concerns

The climate resilient and sustainable health systems market comprises of products and solutions that help build resilience of health systems against climate change impacts and promote more sustainable healthcare delivery. The growing climate change phenomenon has led to rising environmental concerns globally. Extreme weather events like floods, storms and heatwaves linked to climate change have started compromising the infrastructure and service delivery of conventional public health systems. There is a pressing need to upgrade health facilities, operations, supply chains and service models to prepare for and effectively respond to climate-driven health risks. Sustainable health systems aim to reduce carbon footprint of healthcare activities through strategies like use of renewable energy, promotion of low-carbon transport, sustainable waste management and supply chain optimizations. They also work to strengthen community outreach programs to build awareness about climate change adaptation and mitigation in public health domains.

The global Climate Resilient and Sustainable Health Systems Market is estimated to be valued at US$ 8.45 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the climate resilient and sustainable health systems market is the growing investments by governments and international organizations in developing climate-proof infrastructure for healthcare facilities. There is increased focus on designing public health units, hospitals and primary care centers that can withstand extreme weather events by using climate-smart construction materials and renewable power backup. Another major trend is the rising adoption of digital health tools that help deliver quality care to remote populations during climate emergencies while reducing on-site energy consumption and transportation needs. Technologies like telemedicine, mHealth and digital medical records are playing a bigger role in building responsive healthcare networks. Furthermore, more players are offering climate risk insurance and financing schemes to help public health programs brace the rising economic costs of climate change impacts on well-being.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the climate resilient and sustainable health systems market is moderate. High initial costs and requirements for specialized skills and expertise pose barriers for new companies.

Bargaining power of buyers: The bargaining power of buyers is high due to the necessity of healthcare services. Buyers can also switch between providers based on price and quality of services.

Bargaining power of suppliers: Healthcare providers and raw material suppliers for medical devices have moderate bargaining power due to differentiated products and services required.

Threat of new substitutes: The threat of new substitutes is low as climate-resilient health systems provide specialized services that cannot be easily substituted.

Competitive rivalry: The competitive rivalry in the market is high due to the presence of many global and regional players offering similar services and technologies.

Key Takeaways

The Global Climate Resilient And Sustainable Health Systems Market Size is expected to witness high growth. The global Climate Resilient and Sustainable Health Systems Market is estimated to be valued at US$ 8.45 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023-2030.

Regional analysis

Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to rising expenditure on healthcare infrastructure development and initiatives to boost resilience against climate change impacts in countries like India and China. North America dominates the market currently due to high healthcare spending and stringent regulations regarding sustainable practices.

Key players

Key players operating in the climate resilient and sustainable health systems market are GE Healthcare, Koninklijke Philips N.V., Carbon Trust, Enel Foundation, European Bank for Reconstruction and Development.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it