Medical Office Buildings Market

Global Medical Office Buildings Market Size, Share & Trends Analysis Report By Type (Physician Offices, Wellness Centers, Ambulatory Surgery Centers, and Others), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23199 Publication Date: June-2024 Number of Pages: 135
2023
USD 38.9 Billion
2031
USD 62.6 Billion
CAGR
6.3%
Historical Data
2020 to 2022

Market Report Description

The Global Medical Office Buildings Market size is expected to reach $62.6 billion by 2031, rising at a market growth of 6.3% CAGR during the forecast period.

The aging population in Europe has contributed to the growing need for healthcare services, including physician offices, diagnostic centers, and outpatient care facilities housed in MOBs. Consequently, the Europe region would acquire nearly 30% of the total market share by 2031. Demand for MOBs is fuelled by the region's robust emphasis on universal healthcare coverage and a high standard of healthcare delivery. Overall, the market in Europe is characterized by a well-developed healthcare infrastructure and increasing investments in healthcare.

Medical Office Buildings Market Size - Global Opportunities and Trends Analysis Report 2020-2031

The rise in global healthcare expenditure is driving a significant expansion in healthcare infrastructure, notably in the proliferation of MOBs. Furthermore, the increasing demand for specialized healthcare services and the advancements in medical technology are the primary factors driving the necessity for well-equipped MOBs. Hence, increasing healthcare expenditure will aid in the growth of the market. Additionally, Healthcare providers increasingly invest in state-of-the-art facilities that accommodate advanced medical equipment and support telemedicine and other digital healthcare services. Moreover, MOBs are designed to support the growing telemedicine and digital healthcare services trend. Thus, technological advancements in healthcare drive the need for modern, well-equipped facilities like MOBs. 

The COVID-19 pandemic resulted in a market slowdown as healthcare providers prioritized the management of the immediate crisis, which forced the postponement or cancellation of elective procedures. On the other hand, the pandemic also highlighted the importance of well-equipped healthcare facilities, including MOBs, in supporting the delivery of healthcare services. Additionally, the pandemic underscored the importance of resilient healthcare infrastructure, including MOBs, in ensuring continuity of care during health crises. Hence, the pandemic had an overall positive impact on the market.

However, Significant obstacles confront developers and investors in the healthcare real estate sector as a result of the increasing costs. The cost of medical equipment is also a significant consideration for developers of MOBs. Healthcare facilities require expensive medical equipment to provide quality care to patients. Hence, these factors may hamper the growth of the market.

Driving and Restraining Factors
Medical Office Buildings Market
  • Growing healthcare expenditure globally
  • Technological advancements in healthcare
  • Increasing proportion of the aging population
  • Rising costs of developing and maintaining MOBs
  • Evolving landscape of healthcare models
  • Rising focus on wellness and prevention
  • Increasing urbanization and population growth
  • Oversupply of MOBs in some markets
  • Technological disruptions in healthcare

Type Outlook

Based on type, the market is characterized into physician offices, ambulatory surgery centers, wellness centers, and others. The ambulatory surgery centers segment procured 5% revenue share in the market in 2023. Ambulatory surgery centers (ASCs) offer a more cost-effective alternative to traditional hospital-based surgery, as they are typically able to perform procedures at a lower cost and with shorter recovery times.

Medical Office Buildings Market Share and Industry Analysis Report 2023

Free Valuable Insights: Global Medical Office Buildings Market size to reach USD 62.6 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired 38.5% revenue share in the market in 2023. A large aging population necessitating healthcare services, a high prevalence of chronic diseases necessitating regular medical care, and a well-established healthcare infrastructure are all contributing factors to the growth.

Medical Office Buildings Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 38.9 Billion
Market size forecast in 2031 USD 62.6 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 6.3% from 2024 to 2031
Number of Pages 135
Number of Tables 180
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included PCL Industrial Constructors, Inc., Swinerton Inc., Skanska Group, Clark Construction Group, LLC, Hensel Phelps Construction Co., James G Davis Construction Corporation, Andersen Construction, Adolfson & Peterson Construction, Pepper Construction and HKS Inc.
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List of Key Companies Profiled

  • PCL Industrial Constructors, Inc.
  • Swinerton Inc.
  • Skanska Group
  • Clark Construction Group, LLC
  • Hensel Phelps Construction Co.
  • James G Davis Construction Corporation
  • Andersen Construction
  • Adolfson & Peterson Construction
  • Pepper Construction
  • HKS Inc.

Medical Office Buildings Market Report Segmentation

By Type

  • Physician Offices
  • Wellness Centers
  • Ambulatory Surgery Centers
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Australia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $62.6 billion by 2031.

Growing healthcare expenditure globally are driving the Market in coming years, however,Rising costs of developing and maintaining MOBs restraints the growth of the Market.

PCL Industrial Constructors, Inc., Swinerton Inc., Skanska Group, Clark Construction Group, LLC, Hensel Phelps Construction Co., James G Davis Construction Corporation, Andersen Construction, Adolfson & Peterson Construction, Pepper Construction and HKS Inc.

The expected CAGR of this Market is 6.3% from 2023 to 2031.

The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $23.2 billion by 2031.

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