U.S. HOSPITAL EMERGENCY DEPARTMENT MARKET ANALYSIS

U.S. Hospital Emergency Department MarketSize and Trends

The U.S. hospital emergency department market was valued at US$ 158.2 Bn in 2022 and is forecast to reach a value of US$ 242.79 Bn by 2030 at a CAGR of 5.5% between 2023 and 2030. The U.S. hospital emergency department market is experiencing strong growth due to the rising number of emergency department visits and rising prevalence of chronic diseases in the region. Moreover, rise in penetration of health insurance among the US population and growing geriatric population is expected to boost the market growth. However, factors such as rising preference for convenient care and high cost of emergency care are expected to hamper the market growth.

U.S. Hospital Emergency Department Market Trends:

Rise in number of freestanding EDs is a recent trend

A freestanding emergency department is an emergency facility that is not physically connected to inpatient services, and provide emergency medical services to those in need. The ability to provide top-notch emergency treatment at even greater levels of customer service is one of the reasons why many hospitals construct freestanding EDs. Hospital-based freestanding emergency departments are a new and evolving care delivery model. There are over 500 Freestanding Emergency Centers across the U.S. This trend is expected to continue over the forecast period.

Rise in adoption of private insurance is another trend

Under the Patient Protection and Affordable Care Act (ACA) (also known as Obamacare), health insurance plans are required to cover emergency services. Private health insurance currently covers a little more than half of the U.S. population, as private insurance companies offer more advantages to the customers compared to that of Medicare/Medicaid. Moreover, extra services and facilities provided by the private insurance companies during the emergency visits has propelled the growth of this segment. This trend is also expected to continue over the forecast period.