The global hospital emergency department market size was worth USD 427.4 million in 2021 and is estimated to grow to USD 543.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.1% over the forecast period. The report analyzes the hospital emergency department market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the hospital emergency department market.
Hospital Emergency Department Market: Overview
A system that offers the medical services needed in an emergency is known as a hospital emergency department. It is a proactive service provided to patients who are ill of any kind. These services are designed to give patients access to emergency medical care. These are complex services where each system component contributes significantly to the care. Acute care for patients is provided by emergency medical services, which concentrate on treating obstetric, surgical, and medical crises. The focus of the hospital emergency department is injury and emergency illnesses like stroke and cardiac arrest. The services which are required in natural disasters are included in emergency services.
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COVID-19 Impact:
Healthcare institutions and governmental organizations throughout the world largely depend on emergency department information systems to respond to COVID-19. Technology-based screening techniques helped in quick case identification and proper triaging. Clinical treatment was supported by using the electronic health record (EHR) to acclimate frontline physicians to new protocols, offer clinical decision assistance, and enhance diagnostic testing methods. For instance, the first wave of the pandemic saw a reduction in emergency department (E.D.) attendance of 37%, medical admissions of 30%, and medical bed occupancy of 27%, according to the study titled “Impact of the COVID-19 pandemic on emergency department attendances and acute medical admissions” published by BMC Emergency Medicine in November 2021.
Key Insights
- As per the analysis shared by our research analyst, the global hospital emergency department market value will grow at a CAGR of 4.10% over the forecast period.
- In terms of revenue, the global hospital emergency department market size was valued at around USD 427.4 million in 2021 and is projected to reach USD 543.9 million by 2028.
- The prevalence of visits to hospital Emergency Departments (E.D.s) and the accessibility of insurance are the two main factors influencing the growth of this market.
- By health condition, the infectious category dominated the market in 2021.
- By insurance, the private segment category dominated the market in 2021.
- North America dominated the global hospital emergency department market in 2021.
Hospital Emergency Department Market: Growth Drivers
An increase in technological advancements to drive market growth
Due to the aging population, greater usage of data-driven technologies, and increased insured population, the global hospital emergency department market is anticipated to expand quickly. The rapidly expanding senior population is causing an increase in chronic and life-threatening diseases, eventually requiring hospitalization. Older adults have higher cardiovascular disease, neurological disease, and other illnesses. Hospital emergency departments usually serve as the facility’s front door to residents, and their service level is a direct reflection of the hospital’s reputation. This makes emergency department essential in hospitals.
Hospital Emergency Department Market: Restraints
High prices associated with emergency department to hamper market growth
Several factors currently constrain the market for hospital emergency department. For instance, a constraint is the high cost of modern ambulances and the higher cost of specialized assistance devices in emergencies. Due to this, there is inequality among the emergency medical services industry’s various geographical marketplaces. On the other hand, governments’ strict controls on the EMS manufacturing industry also don’t assist.
Hospital Emergency Department Market: Opportunity
Increase in trauma and injuries presents market growth opportunities
The necessity for emergency services and the rising incidence of trauma & injuries among common people present an opportunity for the emergency medical care sector. The global hospital emergency department market has a chance due to hospitals’ concentration on offering more quickly and effectively ambulances and other emergency care services to patients. In the post-pandemic era, a tendency supporting the growth of the emergency medical services industry is the development of hospital facilities in rural areas.
Hospital Emergency Department Market: Challenges
Shortage of emergency care providers to challenge the market expansion
The market for hospital emergency departments faces some key obstacles. Once they are overcome, these issues will encourage the growth of the hospital emergency department industry. For instance, if emergency care providers receive enough training at all levels, the shortage of trained experts and operators in the emergency medical services sector will be resolved. Similarly, product recalls resulting from flaws are another factor in the EMS sector’s slow growth. Product recalls will decrease as manufacturing becomes stronger through extensive research and development and trained labor.
Hospital Emergency Department Market: Segmentation
The global hospital emergency department market has been segmented into health conditions, insurance, and region.
Based on health conditions, the cardiac, neurologic, traumatic, gastrointestinal, infectious, psychiatric, and others are segments of the global hospital emergency department market. The infectious segment is expected to be the fastest growing during the forecast period. In the upcoming years, market growth is anticipated to be driven by the increased prevalence of numerous infectious diseases, including influenza, viral hepatitis, measles, sexually transmitted infections (STDs), and pneumonia, which contribute to an increase in emergency department visits in the U.S. Furthermore, the likelihood of visiting the emergency room has grown due to the rising prevalence of cancer, cardiovascular illness, and respiratory diseases. As a result, it is anticipated that the rising elderly population and the rising prevalence of various non-communicable diseases will significantly affect market growth during the projection period.
Based on insurance, the market is classified into private and Medicare/Medicaid. In 2021, the private sector will have the largest share of hospital emergency departments. In comparison to Medicare/Medicaid, private insurance companies give their consumers additional benefits. Therefore, the historical growth of the U.S. hospital department market has been considerably aided by the rising acceptance of private healthcare insurance coverage. Additionally, the additional services and amenities offered by private insurance companies during emergency visits have fueled the expansion of this market.
Recent Developments
- December 2021: Shannon Health launched the “R.I. Triage” health system, transitioning to a cutting-edge cloud-based predictive analytics system for use in emergency rooms, and deployed the most recent clinical decision support platform from PeraHealth.
- September 2020: With the help of artificial intelligence (A.I.), Vital, an Atlanta-based company, has raised USD 15 million in Series A funding, led by Transformation Capital. First Round Capital and Threshold Ventures, who had previously invested in the company, also participated in the round.
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Hospital Emergency Department Market: Regional Landscape
North America dominated the hospital emergency department market in 2021
North America is the region with the largest stake in the global hospital emergency department market. This results from the increased prevalence of CVD disorders in the area. Due to the expanding healthcare infrastructure and the increasing attention medical professionals are giving to emergency treatment, the regional market will experience a significant CAGR in the coming years. The availability of trained and skilled personnel and strong reimbursement coverage can further help to increase market share during the projection period.
Hospital Emergency Department Market: Competitive Landscape
Some of the main competitors dominating the global hospital emergency department market include-
- Albany Molecular Research Inc.
- EVOTEC
- Laboratory Corporation of America Holdings
- GenScript
- Pharmaceutical Product Development, LLC.
- Charles River
- WuXiAppTec
- Merck & Co., Inc.
- Thermo Fisher Scientific Inc.
- Dalton Pharma Services
- Oncodesign
- Jubilant Biosys
- DiscoverX Corporation
- QIAGEN
Global Hospital Emergency Department Market is segmented as follows:
By Health Condition
- Cardiac
- Neurologic
- Traumatic
- Gastrointestinal
- Infectious
- Psychiatric
- Others
By Insurance
- Private
- Medicare/Medicaid
By Connectivity
- Wired
- Wireless
By Application
- Remote Medicine Management
- Medical Assistance
- Medical Connected Imaging
- Electronic Health Record & Clinical Workflow
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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