The Hospital Emergency Department Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hospital Emergency Department Global Market Report 2024, The hospital emergency department market size has grown strongly in recent years. It will grow from $135.48 billion in 2023 to $143.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to population growth and aging, increased urbanization, public health concerns and epidemics, healthcare policy changes, increasing patient awareness.
The hospital emergency department market size is expected to see strong growth in the next few years. It will grow to $175.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to population health management, increasing prevalence of chronic diseases, expansion of emergency medical services (ems), integration of artificial intelligence (ai), global health threat preparedness. Major trends in the forecast period include public-private partnerships, technological innovations in telemedicine, advancements in medical technology, emergency department design innovations, utilization of wearable health technologies.
The prevalence of visits to hospital emergency departments is expected to propel the growth of the hospital emergency department market going forward. An emergency department (ED) is a specialized medical facility that focuses on emergency medicine and delivers prompt outpatient services to patients needing immediate care for their condition. The rising number of patients seeking emergency medical care contributes to the demand for improved facilities, resources, and services in hospital emergency departments. For instance, according to California Health and Human Services Agency, a US-based state agency, as per the 2021 Emergency Department Summary Report, the number of emergency department admits counted 19,62,045, up from 18,51,863 emergency department admits in 2020. Therefore, the prevalence of visits to hospital emergency departments is driving the growth of the hospital emergency department market.
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The hospital emergency department market covered in this report is segmented –
1) By Connectivity: Wired, Wireless
2) By Health Condition: Cardiac, Neurologic, Traumatic, Gastrointestinal, Infectious, Psychiatric, Other Health Conditions
3) By Application: Remote Medicine Management, Medical Assistance, Medical Connected Imaging, Electronic Health Record and Clinical Workflow, Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Other End-users
Technological advancements are a key trend gaining popularity in the hospital emergency department market. Companies operating in the hospital emergency department market are adopting new technologies to sustain their position in the market. For instance, in December 2021, Shannon Health, a US-based company, implemented PeraHealth’s latest clinical decision support platform and introduced RI Triage, a specifically designed for use in the Emergency Department. Shannon Health is one of the pioneering institutions to adopt ‘RI Triage,’ a streamlined approach to utilizing the Emergency Department (ED). This technology, developed with the help of the Biomedical Advanced Research and Development Authority (BARDA), is intended to help hospitals manage ED care during surges like the COVID-19 pandemic.
The hospital emergency department market report table of contents includes:
1. Executive Summary
2. Hospital Emergency Department Market Characteristics
3. Hospital Emergency Department Market Trends And Strategies
4. Hospital Emergency Department Market – Macro Economic Scenario
5. Global Hospital Emergency Department Market Size and Growth
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26. South America Hospital Emergency Department Market
27. Brazil Hospital Emergency Department Market
28. Middle East Hospital Emergency Department Market
29. Africa Hospital Emergency Department Market
30. Hospital Emergency Department Market Competitive Landscape And Company Profiles
Top Major Players:
- Merck & Co. Inc
- Thermo Fisher Scientific Inc
- Massachusetts General Hospital
- Mayo Clinic Hospital
- NYC Health Hospitals
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