Project Insight: Healthcare Construction Projects, Europe

Project Insight: Healthcare Construction Projects, Europe

  • September 2018 •
  • 40 pages •
  • Report ID: 5601915 •
  • Format: PDF
Project Insight: Healthcare Construction Projects, Europe

Summary
Western Europe has an advanced healthcare sector, funded by central governments and insurance, with France, Italy, Germany and the UK having state funded healthcare systems. The private sector is also fully developed based on funding from insurance schemes which is often offered as part of employment packages.

The ageing population of leading-edge ‘baby boomers’, those born between 1946 and 1955, continues to put a large burden on healthcare facilities, increasing the need for acute, primary care and long-term nursing facilities across Europe.In the UK, total current healthcare expenditure stood at GBP192 billion in 2016, including both government and non-government spending.

This is equivalent to 9.8% of GDP, unchanged from 2015, according to the UK’s Office for National Statistics. In France, healthcare spending stands at around 11% of GDP, with a similar level in Germany, both above the OECD average of 8.9%.

The healthcare sector in Eastern Europe is not as advanced as those across much of Western Europe, with spending generally at lower levels.Nevertheless, healthcare spending is increasing across the region.

Bulgaria spent 8.2% of GDP on healthcare during 2015, followed by Hungary with 7.2% and Slovakia with 6.9%. Healthcare spending in Turkey is relatively low, at around 4% of GDP. However, the share of government spending on healthcare in Turkey has increased significantly in recent years as insurance coverage to the population has expanded. In Russia, President Vladimir Putin aims to increase healthcare spending over the coming years. Data from the World Bank shows that spending in Russia is equivalent to 5.6% of GDP.

GlobalData’s Construction Intelligence Center is currently tracking health construction projects in Western Europe with a total value of US$98.7 billion, which includes projects from the announced to execution stages. In Eastern Europe, the pipeline has a total value of US$23.9 billion.

Key Highlights
- In Western Europe, public funding accounts for 67% of the project pipeline by value. Public-private funding accounts for 13%, while private funding accounts for the remaining 20%. This reflects the strong commitment by Western European governments to provide a nationally funded healthcare system for their populations. In Eastern Europe, the funding structure is different from Western Europe, with a greater reliance on PPPs. Public funding accounts for 36% of the project pipeline by value. Public-private funding accounts for 47%, while private funding accounts for the remaining 17%.
- The UK leads Western Europe for value of projects, with US$15.8 billion, followed by Germany with US$14.5 billion. France and Switzerland follow with projects valuing US$11.7 billion and US$11.4 billion respectively. The top 10 countries by value of heath projects in Western Europe account for US$86.5 billion.
- Based on the data available on the capacity of new projects in terms of beds, the project pipeline in Western Europe will provide a total of 54,235 beds, and in Eastern Europe 46,374 beds.
- The highest value healthcare project in Western Europe is in Denmark, the US$5.5 billion Godstrup Regional Hospital, followed by the US$4.3 billion Gaustad Hospital Development in Norway. The Godstrup project involves the construction of a 133,730m2 hospital on 37ha area in Herning, Central Denmark.

Scope
- The report provides detailed projects analysis, information and insights based on all major healthcare buildings projects in Europe.
- The report provides detailed metrics on health construction projects (as tracked by GlobalData) split by country, type and value. Detailed metrics are also provided for the top 10 countries.

Reasons to buy
- Gain insight into the development of the healthcare buildings construction sector in Europe.
- Assess all major projects by value, start date, scope and stage of development globally, for both Western and Eastern Europe and top 10 countries to support business development activities.
- Plan campaigns by country based on specific project opportunities and align resources to the most attractive markets.
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