The North America Medical Office Buildings Market would witness market growth of 5.8% CAGR during the forecast period (2024-2031).
The US market dominated the North America Medical Office Buildings Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of$16.71 billion by 2031. The Canada market is experiencing a CAGR of 8.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.2% during (2024 - 2031).
A factor that is driving the market's growth is the ongoing transition from inpatient to outpatient care. Outpatient procedures have become increasingly viable due to advancements in medical technology and treatment methods, which are frequently more cost-effective and convenient for patients.
In the United States, for example, outpatient visits have steadily increased over the past decade, outpacing the growth of inpatient visits. Advancements in medical technology, including minimally invasive surgeries and enhanced diagnostic tools, have facilitated the performance of numerous procedures on an outpatient basis, thereby driving this trend. Furthermore, outpatient care is frequently more cost-effective than inpatient care, as it does not necessitate the same level of infrastructure and staffing.
The World Bank anticipates that Mexico's urban population will surpass 90% by 2050 as the country is rapidly urbanizing. This urbanization trend leads to increased demand for healthcare services, including outpatient care provided in MOBs in urban areas. Additionally, the growing middle class in Mexico is driving demand for higher-quality healthcare services, leading to an increase in the construction of modern healthcare facilities, including MOBs. These factors contribute to the increasing demand for MOBs in the region.
Based on Type, the market is segmented into Physician Offices, Wellness Centers, Ambulatory Surgery Centers, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The US market dominated the North America Medical Office Buildings Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of$16.71 billion by 2031. The Canada market is experiencing a CAGR of 8.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.2% during (2024 - 2031).
A factor that is driving the market's growth is the ongoing transition from inpatient to outpatient care. Outpatient procedures have become increasingly viable due to advancements in medical technology and treatment methods, which are frequently more cost-effective and convenient for patients.
In the United States, for example, outpatient visits have steadily increased over the past decade, outpacing the growth of inpatient visits. Advancements in medical technology, including minimally invasive surgeries and enhanced diagnostic tools, have facilitated the performance of numerous procedures on an outpatient basis, thereby driving this trend. Furthermore, outpatient care is frequently more cost-effective than inpatient care, as it does not necessitate the same level of infrastructure and staffing.
The World Bank anticipates that Mexico's urban population will surpass 90% by 2050 as the country is rapidly urbanizing. This urbanization trend leads to increased demand for healthcare services, including outpatient care provided in MOBs in urban areas. Additionally, the growing middle class in Mexico is driving demand for higher-quality healthcare services, leading to an increase in the construction of modern healthcare facilities, including MOBs. These factors contribute to the increasing demand for MOBs in the region.
Based on Type, the market is segmented into Physician Offices, Wellness Centers, Ambulatory Surgery Centers, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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.
Market Report Segmentation
By Type- Physician Offices
- Wellness Centers
- Ambulatory Surgery Centers
- Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Medical Office Buildings Market by Type
Chapter 5. North America Medical Office Buildings Market by Country
Chapter 6. Company Profiles
Companies Mentioned
- 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.
Methodology
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