Hospital Emergency Department Companies | Forecast by 2033

20 Sep 2024

Table of Content

1. Hospital Emergency Department Market Growth, Trends and Report Highlights 2. Market Overview 3. Hospital Emergency Department Market Trends 4. Advanced technologies driving the market 5. Top Companies in the Hospital Emergency Department Market 6. Regional Insights 7. Market Potential and Growth Opportunity 8. Hospital Emergency Department Market Highlights 9. Hospital Emergency Department Market News

Hospital Emergency Department Market Growth, Trends and Report Highlights

The global hospital emergency department market reached USD 135.21 billion in 2023 and is projected to attain around USD 202.66 billion by 2033, poised to grow at a CAGR of 4.13% during the forecast period. Hospital emergency department benefits include providing emergency medical care, which helps to save lives through effective and quality medical care.

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Market Overview

The hospital emergency department market includes income from instant medical care, diagnostic services, complex investigation, acute treatment, and triage. The hospital emergency department (ED), also called the casualty department, emergency ward (EW), emergency room (ER), or accident and emergency department (A & E), is a healthcare treatment facility specializing in emergency medicine. The benefits of the hospital emergency department include immediate access to healthcare professionals from different specialties, a high range of diagnostic tests, and access to surgical procedures. Emergency departments (ED) provide emergency medical services (EMS) to save lives by treating many injuries and illnesses.

Hospital Emergency Department Market Trends

• Demographic shifts and senior population: Demographic shifts in population, including the senior population due to their lower immunity, contribute to the rising demand for emergency medical services.
• Rising road traffic accidents: Rising road traffic accidents are the leading cause of death globally. Emergency departments perform initiative care and emergency medical services (EMS) clinicians to provide critical medical care essential to help reduce disability and death on our streets and roads.
• Increasing cardiovascular diseases (CVD): The increasing cardiovascular diseases (CVD) like stroke, cardiac arrest, coronary artery disease, and congestive heart failure leads to the growth of the market.

Advanced technologies driving the market

The increasing senior population, high use of advanced technologies, and rising insured population lead to the growth of the hospital emergency department market. The fast-increasing senior population is causing a rise in life-threatening and chronic diseases due to their low immunity. There is an immediate requirement for hospitalization. Senior adults have higher neurological disorders, cardiovascular disease, and other illnesses. The hospital emergency department acts as a front-door facility for the immediate treatment of these conditions or diseases, which contributes to the growth of the market.

• In February 2024, an AI-powered patient experience app was launched by Vital in collaboration with Children’s Hospital Los Angeles (CHLA) that helps to provide more transparency and clarity to families and patients in the hospital emergency departments.

However, downsides of the hospital emergency departments include a limited understanding in patients of medical information, as about 16% of patients ask questions if they have, limited time for patients to communicate only about 14 seconds, fragmented interactions with medical staff due to congested and busy environments, and can increase the mortality and hospital admission due to prolonged wait times.

Top Companies in the Hospital Emergency Department Market

• Qiagen
• Ruby Hall Clinic
• DiscoverX Corporation
• Jubilant Biosys
• Oncodesign
• Dalton Pharma Services
• Thermo Fischer Scientific Inc.
• Merck & Co., Inc.
• WuXiApp Tec
• Charles River
• Pharmaceutical Product Development, LLC
• GenScript
• Laboratory Corporation of America Holdings
• EVOTEC
• Albany Molecular Research, Inc.
• LAC+USC Medical Center
• Montefiore Medical Center
• Baptist Health South Florida
• USA Health
• Clarion Hospital
• Schoolcraft Memorial Hospital
• Natchitoches Regional Medical Center
• St. Joseph’s Health
• Lakeland Regional Health
• Parkland Health
• Apollo Hospitals Group

Recent Development by Apollo Hospitals Group

• In March 2024, the Apollo Hospitals Group launched a state-of-the-art multi-specialty emergency medical center at the Shri Ram Janmabhoomi pilgrimage site in Ayodhya. It is with a broad range of better medical services, from basic first aid to medical emergency services, including stroke and heart attack.

Recent Development by Ruby Hall Clinic (RHC)

• In April 2024, due to heavy traffic in Pune, Ruby Hall Clinic launched FRBA, which is the “First Responder Bike Ambulance” facility. It will ensure that rapid medical assistance is given to patients who are in critical emergencies in Pune and surrounding areas.

Regional Insights

Asia Pacific is estimated to be growing significantly during the forecast period of 2024-2033. Rising healthcare spending, use of digital health platforms and telehealth, coordinated care delivery, foreign direct investment, and intra-regional investments contribute to the growth of the Asia Pacific market. India, China, South Korea, and Japan are the main countries in the Asia Pacific region, which significantly contribute to the growth of the hospital emergency department market.

• In May 2024, in Guwahati, North East India’s first 5 G-connected ambulance was launched by Appollo Hospitals Guwahati to transform emergency medical care by providing advanced medical support and real-time connectivity to the hospital.

North America dominated the hospital emergency department market in 2023. The rising attention of healthcare professionals for giving emergency treatments, increasing healthcare infrastructure, and the rising prevalence of cardiovascular diseases (CVD) can lead to the growth of the market in the North American region. The availability of strong compensation and skilled and trained healthcare professionals can help the growth of the market. The United States increased its spending on healthcare for emergency departments, which helps the growth of the market in the North American region.

• In November 2023, ASHEVILLE N.C., an investigation into Mission Hospital’s emergency department, was launched by the North Carolina Department of Health and Human Services.

Market Potential and Growth Opportunity

AI changing the hospital emergency department market

AI in the hospital emergency department can help the growth of the market. AI is helpful in logistics and capacity allocation, easy transportation, and the era of driverless ambulances, portable point-of-care diagnostic devices, video games for practice, and apps streamlining emergency medical care. The use of AI offers many benefits for emergency departments, such as improved diagnostic accuracy, reduced healthcare professional burnout, personalized treatment plans, and more. These factors help the growth of the hospital emergency department market.

• In February 2024, an AI-powered patient experience app was launched by Vital in collaboration with Children’s Hospital Los Angeles (CHLA). The app provides more transparency and clarity to families and patients in pediatric emergency department visits. The digital health solution, available through CHLA’s ‘MyVisit’ and powered by Vital’s ERAdvisor, provides patient education, progress towards discharge, labs and imaging results, and real updates on wait times.

Hospital Emergency Department Market Highlights

Hospital Emergency Department Market News

• In March 2024, at the Shri Ram Janmabhoomi pilgrimage site in Ayodhya, a state-of-the-art multi-specialty emergency medical center was launched by the Appollo Hospitals Group. It is with a broad range of better medical services, from basic first aid to medical emergency services, including stroke and heart attack.
• In July 2024, in Vellore, Emergency Medical Services (EMS) was launched by the Christian Medical College (CMC) hospital, which includes ambulance services for patients in Vellore and Ranipet districts.

Market Segmentation

By Health Condition

• Cardiac
• Neurologic
• Traumatic
• Gastrointestinal
• Infectious
• Psychiatric
• Others

By Insurance

• Private & others
• Medicare/Medicaid

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