Global Healthcare Architecture Market to Grow at a CAGR of 4.0% Until 2027
The new report by Expert Market Research titled, ‘Global Healthcare Architecture Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global healthcare architecture market. It assesses the market based on its segments like facility type, service type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Healthcare Architecture Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 7.09 billion
• Forecast CAGR (2022-2027): 4.0%
• Forecast Market Size (2026): USD 8.97 billion
|Market Size in 2021||USD 7.09 billion|
|Revenue Forecast in 2027||USD 8.97 billionn|
|Growth Rate CAGR||4.0%|
|Major Players||HDR, Inc., Earl Swensson Associates, Inc. (ESa), Stantec Inc., Jacobs, CannonDesign, NBBJ L.P, and Smith Group, among others.|
Increased demand for design consultants for healthcare facilities is driving the market growth of healthcare architecture across the globe. The high demand for efficient and advanced patient care is likely to enhance the construction of new hospitals which is further expected to fuel the market growth of healthcare architecture over the coming years.
With surging investments in healthcare construction projects and increasing hospitalisations, the growth of the healthcare architecture market is expected to propel during the forecast period. Moreover, with government support to promote medical tourism and surging initiatives by market players for better-developed healthcare infrastructure, the market of healthcare architecture is expected to bolster globally.
Healthcare Architecture Industry Definition and Major Segments
Healthcare architecture is an architecture built for hospital facilities engaged in medical pursuits. Healthcare design architects specialise in designing, building and renovating hospitals, healthcare centres and various medical, containing behavioural health treatment facilities. The goal is to progress patient outcomes, upsurge patient satisfaction, and offer medical staff adequate spaces for the treatment of the sick so as to save lives.
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By facility type, the healthcare architecture market is divided into:
• Academic Institutes
• Long Term Care Facilities and Nursing Homes
Based on service type, the market is categorised into:
• New Construction
On the basis of region, the market is segmented into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Healthcare Architecture Market Trends
The global healthcare architecture market is anticipated to witness growth during the forecast period on account of the surging prevalence of chronic diseases coupled with the rapidly increasing number of hospitals.
There is a surging patient population and an upsurge in the constant development of hospitals in the emerging economies along with rising demand for advanced hospitals by developed countries like Japan. These factors are further expected to fuel the market growth of healthcare architecture across the globe over the coming years.
Geographically, the North American region is anticipated to register a significant share in the healthcare architecture market owing to growing demands hospitals that are technologically advanced, especially in the United States.
Key Market Players
The major players in the market are:
- HDR, Inc.
- Earl Swensson Associates, Inc. (ESa)
- Stantec Inc.
- Jacobs, CannonDesign
- NBBJ L.P
- Smith Group
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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