Overview

Building up: The aging of the US population will result in greater demand for hospitals

The Hospital Construction market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

REPORT SNAPSHOT

Market Share of Companies
Industry Statistics & Market Size
Revenue
$27bn
Annual Growth
11-16
-3.1%
Annual Growth
16-21
Profit
Employment
37,671
Business
8,646

Industry Threats & Opportunities

  • Public hospital construction has fallen at a faster rate than private hospital construction
  • As interest rates remain low and demand for hospital services continues to grow, demand for industry services will return to former growth
  • The aging US population will help drive demand for new hospital construction

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    Industry Analysis & Industry Trends

    The Hospital Construction industry has faced challenging conditions over the past five years. In addition to the broader downturn facing the construction sector, hospitals faced a high degree of fiscal uncertainty due to potential changes from the Patient Protection and Affordable Care Act. In the coming years, the industry is expected to enter into a recovery period. . The implementation of the Patient Protection and Affordable Care Act will result in more than 32.0 million individuals gaining access to healthcare insurance coverage, driving up the demand for hospital services. Furthermore, the gradual aging of the US population will also result in greater demand for hospitals...

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    Industry Report - Starting a New Business Chapter

    New entrants to the Hospital Construction industry are likely to find it difficult to establish a foothold in the market due to their lack of reputation and proven performance. The importance of a solid reputation in securing contracts can create a catch-22 scenario for new entrants, as the only way to build a reputation is through experience, and the only way to get experience is by having a well-established reputation. Furthermore, existing players are at a distinct advantage because they already have a pool of skilled subcontractors, as well as arrangements with material suppliers, financial institutions and property developers. Mor..

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    Additional Insights for the Hospital Construction Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hospital Construction Industry are

  • Must comply with government regulations
  • Having links with suppliers
  • Ability to compete on tender
  • IBISWorld analysts also discuss how external factors such as Total health expenditure and Federal funding for Medicare and Medicaid in the Hospital Construction industry impact industry performance..

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    Industry Products

    What is the Hospital Construction Industry?

    The industry includes operators that engage in new work, additions and reconstruction projects for hospitals. These include both private and public hospital construction projects.

    Industry Products
    Hospital new construction contracting
    Hospital remodeling contracting
    Hospital construction maintenance and repair
    Industry Activities
    Private hospital construction and expansion
    Public hospital construction and expansion
    Hospital remodeling and renovation
    Hospital construction management and related services

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Total health expenditure
  • Federal funding for Medicare and Medicaid
  • Access to credit
  • Number of adults aged 65 and older
  • Yield on 10-year Treasury note

  • Current Performance
  • Hospital financing challenges following the recession
  • Divergent trends
  • Industry landscape and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Building up demand
  • Industry expansion
  • Table: Hospital Construction Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hospital Construction Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Healthcare and Social Assistance
  • Hospitals
  • Religious Organizations
  • Public Administration

  • Key Selling Industries
  • Cement Manufacturing
  • Construction
  • Glass Product Manufacturing
  • Heavy Equipment Rental
  • Iron & Steel Manufacturing

  • Products & Services
  • Hospital new construction contracting
  • Hospital remodeling contracting
  • Hospital construction maintenance and repair
  • Chart: Hospital Construction Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Nongovernment Not-for-Profit Community Hospitals
  • Investor-Owned (For-Profit) Community
  • State and local government
  • Federal government
  • Chart: Major Market Segmentation for the Hospital Construction Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Hospital Construction

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hospital Construction Industry

  • Industry Globalization
    Major Companies
    Turner Construction Co.
  • Table: Turner Construction Co. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Hospital Construction Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Hospital Construction Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Total health expenditure (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create two-dimensional drawings or three-dimensional models.
  • Developer
  • An enterprise that prepares a real estate site for residential or commercial use. A developer raises capital, gains zoning approvals and hires contractors to design, construct and develop property.
  • General Contractor (Gc)
  • Also called a prime contractor. An individual or company that manages the construction of a structure for a property owner or developer. A GC may retain a labor force or use subcontractors.
  • Leadership In Energy And Environment Design (Leed)
  • An environmental building certificate program that was established under the US Green Building Council and certifies buildings that meet energy-efficiency and green requirements.
  • Patient Protection And Affordable Care Act (Ppaca)
  • This 2010 act aims to increase the rate of health insurance coverage for Americans and to reduce the overall costs of healthcare through mandates, subsidies and tax credits.
  • Tender
  • A written offer or bid to contract goods or services at a specified cost or rate.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hospital Construction:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hospital Construction market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hospital Construction, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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