LONDON, Nov. 15, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Healthcare Buildings Global Market Report 2023, the global healthcare buildings market is poised for substantial growth, with the market size expected to increase from $253.94 billion in 2022 to $263.05 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 3.2%. Further, the market is anticipated to reach $283.21 billion by 2027, with a CAGR of 2.0%. The healthcare buildings market report provides a comprehensive overview of the market dynamics, key players, and emerging trends shaping the future of healthcare buildings.
Driving Forces Behind Market Expansion
Several factors contribute to the optimistic outlook for the healthcare buildings market. An increasing aging population, the rise in chronic diseases, rapid urbanization, and population growth are key drivers fueling the market's growth. As healthcare demands continue to escalate globally, the construction of new healthcare facilities and the refurbishment of existing ones are expected to witness a significant upswing.
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Market Fragmentation and Key Players
The global healthcare buildings market is characterized by its high fragmentation, with a multitude of small players contributing to the overall landscape. In 2022, the top ten competitors accounted for 2.415% of the total market, with Hochtief AG leading the pack (0.649% market share), followed by Skanska AB, Balfour Beatty plc, DPR Construction, and others.
Sustainability and Green Building Practices
A notable trend in the healthcare building market is the increasing adoption of sustainability and green building practices. Builders are embracing eco-friendly construction materials, energy-efficient designs, and renewable energy sources to align with global efforts to combat climate change. This not only addresses environmental concerns but also prioritizes patient well-being by creating healing environments with improved indoor air quality, natural light, water conservation, and access to green spaces.
Segmentation of the Healthcare Buildings Market
The market report segments the global healthcare buildings market based on facility type, service type, and healthcare type:
- Facility Type: Hospitals, ASCs, Long Term Care Facilities And Nursing Homes, Academic Institutes, Other Facility Types
- Service Type: New Construction, Refurbishment
- Healthcare Type: Public Healthcare, Private Healthcare
The report identifies significant growth opportunities in the hospitals segment, projected to gain $16,670.7 million in global annual sales by 2027. With North America leading the healthcare buildings market in 2022, the report sheds light on regional dynamics and emerging trends.
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Industry players, stakeholders, and decision-makers can harness the insights provided in the Healthcare Buildings Global Market Report 2023 to make informed strategic decisions. Understanding market trends, identifying growth opportunities, and staying abreast of sustainable practices will empower businesses to thrive in this dynamic sector.
Healthcare Buildings Global Market Report 2023 by The Business Research Company provides insights on the healthcare buildings market size, healthcare buildings market segments, healthcare buildings market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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