Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) — The “U.S. Hospital Emergency Department Market Size, Share & Trends Analysis, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. hospital emergency department market size is expected to reach USD 246.3 billion by 2030. It is projected to register a CAGR of 5.75% during the forecast period. The rising prevalence of diseases requiring immediate care, such as cardiac arrest, is expected to drive the growth of this market. Hospital Emergency Departments (EDs) are preferred by individuals needing emergency care due to the 24-hour availability of care over other medical centers. There has been an increase in patients with acute psychiatric crises visiting hospital EDs in the last few years. According to the National Hospital Ambulatory Medical Care Survey, in 2021, there were around 2.43 million ED visits due to problems related to psychological and mental disorders. Furthermore, a total of 2.4 million ED visits occurred due to diseases of the nervous system.
Neurologic emergencies include conditions such as stroke, migraine, Alzheimer’s disease, and others. Stroke is a major contributor to ED visits, with around 5, 311, 000 individuals suffering a stroke annually. This is likely to increase the number of ER visits in the coming years. To meet the high demand for EDs and create awareness, hospitals are adopting new technologies and conducting various business activities. For instance, in January 2022, Novant Health announced a collaborative partnership with Aidoc, an enterprise-grade artificial intelligence (AI) solution for medical imaging providers. This partnership aims to accelerate the treatment of patients in the emergency department using AI technology. Moreover, there is a trend of adopting new treatment options, such as AI and telehealth, for emergency care of acute illnesses and injuries.
For instance, in October 2020, Northwestern Memorial Hospital partnered with Caption Health to acquire Caption AI, the AI technology for ultrasound, for use in EDs. Such measures are expected to increase demand for emergency care due to the growing awareness about the availability of accurate and quick treatment options and the increasing adoption of new technologies. The onset of the COVID-19 pandemic resulted in revenue loss for EDs in the United States, due to the substantial reductions in the number of ED visits. The decline in visits was largely due to people delaying treatment to avoid infection, a decrease in surgery volume, and social distancing restrictions. According to a study from Yale and the Mayo Clinic researchers, ED visits declined by 41.5% (in Colorado) to 63.5% (in New York) the year after the pandemic outbreak.
U.S. Hospital Emergency Department Market Report Highlights
- Based on the insurance type, the private & others segment dominated the market in 2022 owing to the high number of people choosing private insurance. For instance, according to the National Hospital Ambulatory Medical Care Survey, the payment source for around 45,097 thousand ED visits was private insurance in 2021
- Based on the condition, the infectious condition segment dominated the market in 2022. This growth can be attributed to the increased ER visits during flu season. For instance, according to the CDC National Hospital Ambulatory Medical Care Survey, in 2021, fever and cough accounted for a total of 4,650,000 and 4,655,000 emergency visits, respectively, in the U.S.
- In July 2022, Sila Realty Trust, Inc. announced the completed acquisition of the standalone TGH Rehabilitation Hospital, a freestanding emergency facility situated in Tampa, Florida. The transaction was valued at a contract purchase price of USD 51.2 million, not accounting for acquisition expenses
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- Parkland Health
- Lakeland Regional Health
- St. Joseph’s Health
- Natchitoches Regional Medical Center
- Schoolcraft Memorial Hospital
- Clarion Hospital
- USA Health
- Baptist Health South Florida
- Montefiore Medical Center
- LAC+USC Medical Center
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- U.S. Hospital Emergency Department Market