Published Date : 29 Nov 2022
The US hospital emergency department market size was exhibited at USD 160.07 billion in 2022 and is expected to expand around USD 216.08 billion by 2030, poised to grow at a projected CAGR of 3.8% from 2021 to 2030.
The rising prevalence of various chronic diseases, the growing geriatric population, and rising trauma cases in the US are the major factors that drive the growth of the US hospital emergency department market. Moreover, the US healthcare sector is witnessing increased emergency department visits. According to the Centers for Disease Control and Prevention (CDC), there were around 130 million emergency department visits in US in 2018. Moreover, there were over 46 million geriatric people of age 65 years and above in the US in 2020 and this number is expected to reach around 90 million by 2050. The elder people are susceptible to various diseases which increases the risks and boosts the demand for emergency department visits among geriatric people. Further, the rising government expenditure toward the development and advancement of hospitals is expected to drive market growth in the forthcoming years. The COVID-19 outbreak in 2020, collapsed the healthcare infrastructure of the US.
The rapid spread of the COVID-19 disease among the population suddenly spiked the emergency care services. According to the National Center for Health Statistics, COVID-19 diseases resulted in around 598,932 deaths in US in 2020. Moreover, there are several other diseases such as influenza, viral hepatitis, measles, sexually transmitted diseases (STDs), and pneumonia that results in the demand for the hospital emergency department services. Furthermore, the increasing mortality rates of various diseases in US will propel the market growth. According to the National Center for Health Statistics, cardiovascular diseases were the leading cause of death in US that accounted for 690,882 deaths in 2020, followed by cancer (598,932 deaths), and accidents & injuries (192,176 deaths). It is estimated that around 60% of the US population is suffering from one or more chronic diseases. Furthermore, the US healthcare expenditure is high. Around 17.5% of the US GDP is spent on healthcare.
US Hospital Emergency Department Market Report Scope
|Market Size In 2022||USD 160.07 Billion|
|Market Size By 2030||USD 216.08 Billion|
|Growth Rate from 2022 to 2030||CAGR of 3.8%|
|Forecast Period||2022 to 2030|
Driver: Favorable reimbursement policies of the government
The government has developed favorable reimbursement facilities that encourage the population to easily opt for emergency department services in the US. Moreover, the US government is bringing in favorable changes to the policies that favors reimbursements relating to telehealth services. Hence, the government policies pertaining to reimbursements is expected to play a crucial role in the growth of the US hospital emergency department market during the forecast period.
Restraint: Advancements in biotechnology is reducing the emergency department visits
The rapid growth and adoption of biopharmaceuticals among the US population owing to the availability of various novel therapies that can effectively cure the chronic diseases is increasing life expectancy and resulting in decreased emergency department visits. This factor may hinder the growth of the US hospital department market during the forecast period.
Opportunity: Rising adoption of telehealth
The government is encouraging the adoption of the telehealth across the hospitals in US. Furthermore, the integration of the latest digital technologies like artificial intelligence, big data, internet of things, and cloud computing with the telehealth platforms is expected to provide lucrative growth opportunities to the market players operating in the US hospital emergency department market.
Challenge: Lack of healthcare professionals
The lack of adequate number of healthcare workers is a major reason that may restrict the market growth. The rapidly growing number of patients in US may create a gap between demand and supply of the emergency care services in US.
Key Players in the Report
Segments Covered in the Report
By Health Condition
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