Proposal activity for architecture, engineering and construction firms working in the healthcare market improved slightly in the first quarter of 2023 compared with the prior quarter, but dropped from the same quarter one year ago. The overall results from PSMJ’s Quarterly Market Forecast survey suggest the healthcare sector will remain active in the coming months, but not to the high level it has experienced in recent periods.
Continuing care facilities was the strongest healthcare submarket measured in the forecast, increasing by about 50% quarter over quarter, but down nearly 20% year over year. Medical office buildings improved 20% from the prior quarter, but fell by about 17% from last year. The hospitals market jumped 23.6% from the fourth quarter, but dropped 22.8% when compared with the first quarter of 2022. The index for senior/assisted living climbed nearly 80% from the fourth quarter, but dipped 20% from the prior year.
PSMJ has been conducting its market survey of proposal activity since 2003. For full details, go to psmj.com/surveys/quarterly-market-forecast-2.
