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Healthcare Architecture Market Size, Share and Global Trend By Product Facility Type (Hospitals, ASCs, Long Term Care Facilities & Nursing Homes, Academic Institutes & Others), Service Type (New Construction & Refurbishment) and Geography Forecast till 2025

Region : Global | Latest Update: Jul, 2019 | Published Date: Apr, 2019 | Report ID: FBI100067| Status : Published

 

KEY INDUSTRY INSIGHTS

The Global Healthcare Architecture Market, which was valued at US$ 5,954.3 Mn in 2017, is projected to reach US$ 8,210.5 Mn by the end of 2025, exhibiting a CAGR of 4.1%. Healthcare architecture refers to the architecture that is utilized for the designing of hospital facilities engaged in medical activities. The construction of hospitals is especially critical for the maintenance of public health as they contain all the important components needed for the diagnosis, treatment, and management of a variety of medical diseases and disorders.

According to the Cybermetrics Lab and the research group of Spanish National Research Council (CSIC), due to the increased requirement of new hospitals, there are a number of new hospital constructions and refurbishments in the pipeline worldwide, with some of the investments amounting to US$ 500 Mn. A growing number of hospitals in developing and developed nations is expected to boost the expansion of healthcare architecture industry during the forecast period of 2018-2025.

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Hospitals to Emerge as Most Attractive Facility Type

The growth in the healthcare architecture market considered to be primarily driven by the increasing rate of hospitalizations which can be attributed to increasing diagnosis of acute and chronic diseases, increasing incidences of traumas and also, the rising demand for preventive medical care. Hospitals segment accounted for a 54.1% share in the global healthcare architecture market in 2017. In many of the regions, there has been an increasing trend of medical tourism, which requires an extensively developed medical infrastructure which is likely to support the growth of the healthcare architecture market during the forecast period.

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The huge investment required to building or refurbishment of hospital architecture considered to limit the growth of healthcare architecture market in developing nations during the forecast period. In terms of services, new construction service is likely to be the fastest growing segment for the forecast duration, owing to the high and sustained demand for the most advanced hospital architecture across the globe. A significant range of funds allocated by the government to the hospital sector of emerging economies is estimated to boost the healthcare architecture market by the end of forecast duration.

Evolving Healthcare Infrastructure in Developing Nations Enables Market Exhibit Highest CAGR in Asia Pacific

North America generated revenue of US$ 1,680.2 Mn in 2017 and is anticipated to emerge dominant in the global healthcare architecture market during the forecast period. Growth witnessed in the region is likely to be driven by high demand for the technologically advanced hospital architecture in the Unites States. In the Asia Pacific region, Japan is expected to provide the largest market opportunity. This is owing to the fact that Japanese healthcare is developed and there is a high demand for the technologically advanced hospital architecture. China also contributes heavily due to the increase in the expenditure of Chinese healthcare. Evolving healthcare infrastructure in developing nations such as China, India, and others offers immense growth opportunity in Asia Pacific.

North America Healthcare Architecture Market, 2017

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HDR, HKS, and Perkins+Will to Account for Majority of the Market Share in Terms of Revenue

Healthcare architecture market is fragmented with numerous small & mid-size players operating across the globe. Rising demand for lead design consultant for healthcare facilities in countries such as Australia and UAE and stronger network of qualified architects across the globe are the key factors associated with an estimated rise in the number of architecture firms in the world by the end of forecast duration. Some of the major companies that are operating in the global healthcare architecture market are Stantec, Jacobs Engineering Group, CannonDesign, NBBJ, and Smith Group.

REPORT OVERVIEW

Technological advancement in the healthcare industry and the huge demand for advanced hospital architecture from developed nations considered to drive the global healthcare architecture market during the forecast period. For instance, in February 2017, the Kengo Kuma & Associates of Japan unveiled the first ever Green Hospital in Tokyo.

The report provides qualitative and quantitative insights on the healthcare architecture industry and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented by facility type, service type, and geography. On the basis of facility type, the global healthcare architecture market is categorized into hospitals, ASCs, long term care facilities & nursing homes, academic institutes, and others. Based on the services, the global healthcare architecture market is segmented into new construction and refurbishment. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and Rest of the World. The regions are further categorized into countries.

Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are data on a number of architects for key countries, the number of healthcare facilities for key countries, and key strategies adopted by top players.

KEY SEGMENTS WITHIN THE MARKET

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SEGMENTATION

 SEGMENTATION

 DETAILS

By Facility Type

·      Hospitals

·      ASCs

·      Long Term Care Facilities & Nursing Homes

·      Academic Institutes

·      Others

By Service Type

·      New Construction

·      Refurbishment

By Geography

·      North America (USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·      Rest of the World

 

KEY COMPANIES COVERED IN THE REPORT

  • HDR
  • HKS
  • Stantec
  • Jacobs Engineering Group
  • CannonDesign
  • NBBJ
  • Perkins+Will
  • Smith Group
  • Other prominent players

Healthcare Architecture Market Size, Share and Global Industry Trend Forecast till 2026
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