Healthcare Staffing Market: Global Industry Analysis and Forecast (2023-2029)

Healthcare Staffing Market was valued at US$ 39.80 Bn. in 2022. Healthcare Staffing Market size is expected to grow at a CAGR of 7.1% through the forecast period.
Healthcare Staffing Market Overview:
Healthcare staffing aids in the selection of competent healthcare workers. It provides a wide range of professional networks, sourcing techniques, and clinical knowledge. Bridging staffing gaps, assuring physician quality, and raising the hospital consumer evaluation of healthcare professionals and systems (HCAHPS) score, also improve patient happiness. As a result, these healthcare staffing activities are extensively used in hospitals, home health agencies, nursing homes, clinics, doctor's offices, government organizations, pharmaceutical firms, educational institutions, and healthcare software firms worldwide.To know about the Research Methodology :- Request Free Sample Report
Healthcare Staffing Market Dynamics:
Market Dynamics:

Advantages and benefits of working as a per diem nurse: In addition to having a strong desire to help others, doctors and nurses put a great value on having flexible work schedules. Medical professionals may decide when they are available for work or prepared to accept new tasks due to temporary staffing options. More people are expected to choose careers in allied healthcare, travel nursing, per diem, or locum tenens due to reasons including more flexibility of work time and increased exposure to diverse healthcare systems across multiple places. This is driving the growth of the Healthcare Staffing Market.

Increased number of non-government and government hospitals and regulations: Increasing number of non-government and government hospitals, long-term care facilities, acute care facilities, and other healthcare systems is expected to grow significantly over the next years, significantly accelerating market growth.

The number of hospitals is rising as a result of increasing public health funding and enhancing the healthcare infrastructure. The ability to serve as patients' major advocates by starting health plans to assist in better treatment is expected to be granted by new regulations to related personnel, particularly nurses. These regulations uphold and advance people's rights to make well-informed healthcare decisions. Future regulatory changes will spread out the centralization of influence held by doctors and specialists, enabling markets to focus on other players in the health value chain.

For example, a measure to regulate and standardize the training and employment of related healthcare workers was adopted in India in 2022. Investments by governments in developing nations are expected to improve access to health services through modernizing their nations' healthcare infrastructure. The need for healthcare staff will probably increase as a result. The sector has tremendous opportunities because of the rising frequency of chronic illnesses including cancer and diabetes in emerging nations.

Market Trends:

In February 2022, Cross Country Healthcare purchased nearly all of the properties of Selected, a cloud-based matching and recruiting talent platform that matches educators with institutions based on mutually acknowledged preferences to ensure a customized and long-term fit.

In July 2021, Jackson Healthcare got USD 34 million from Georgia's government for providing staffing assistance for hospitals and nursing facilities during the epidemic. Through its subsidiary, HWL, the corporation supplied healthcare personnel ranging from physicians to nursing to respiratory therapists to hospitals and nursing homes in Georgia during the COVID-19 epidemic.

In August 2020, after recent acquisitions & industry growth, Medical Solutions introduced a new corporate identity. The business made its largest purchase in the healthcare staffing market by purchasing Omaha-based C&A Industries. With the purchase, Medical Solutions increased its market share, increased its size from USD 500 million to USD 1 billion+, and then further differentiated its value offering, especially in the primary care sector and non-clinical workforce.

Healthcare Staffing Market COVID-19 Insights:

The majority of long-term care institutions were forced to impose operational limits due to the large spike in COVID-19 outbreaks. Treatments that were elective or not urgent were stopped. There was a decrease in demand for temporary tenens doctors and allied health professionals as a result of the cancelling of elective treatments. Also, there was a decrease in the demand for nurses in care facilities.

The need for travel nurses and for per diem nurses is estimated to grow after COVID-19 as well due to the growth of in-home nursing services. The COVID-19 epidemic has increased alternatives, which is increasing the potential for temporary staffing. The burden of COVID-19 is also driving up the retirement rates of healthcare workers, which is driving up the need for staffing services.
Healthcare Staffing Market Segment Analysis:
Based on Service Type, the Travel Nurse Staffing segment dominated the market with 32.7% share in 2022. Fast services, cost-effectiveness, and a nursing shortage can all be credited for the travel nurse staffing segment's explosive growth. In the upcoming years, it is expected that this situation would continue.

During the forecast period, locum tenens will rise at the highest rate. Two of the elements influencing the market growth are employers' cost-effectiveness and physicians' need for locum tenens assignments. As it is more affordable, hospitals, organizations, and clinics choose locum tenens during busy times and when a regular physician is away or taking a leave.

Medical doctors and other professionals prefer to work as locum tenens because of the shorter term of the assignment, the flexible schedule, the travel opportunities, and the variety of clinical experiences. Through specialist employment agencies or hospital staffing pools, per diem nurses are employed for brief assignments and paid daily.

The comparatively high pay and work flexibility are the key factors influencing nurses' decision to work per diem. Clinics, outpatient centres, and hospital groups must fill both temporary and last-minute staffing needs as a result of unplanned absences, vacations, or increased patient acuity. Per diem services can be booked with a facility directly or through a staffing company. Also, before taking a permanent position, several nurses take per diem positions to get experience in various medical environments.

Based on the End-user, the Hospital segment dominated the market with 29% share in 2022.Most hospitals and healthcare organizations today organize their staff by the strict restrictions set forth by the government. The major businesses are increasing staff levels to fulfill the growing demand for healthcare as a result of patient-centered policies and regulations.
Regional Insights:
The North America region dominated the market with 47 % share in 2022. The major share owned by this region is mostly because of the local presence of major market participants, growth in the older population, and an increase in the need for healthcare professionals by hospitals due to financial difficulties connected with recruiting permanent employees. Compared to the general population, those over 65 are twice as probable to visit a doctor's office and three times as likely to remain in the hospital. The delivery of healthcare is expected to be significantly impacted by an older population since they are more likely to develop chronic diseases and lifestyle-related illnesses.

The Asia Pacific region is expected to witness significant growth at a CAGR of 7.3% through the forecast period. This is due to an increase in the need for contract workers in the region. The fact of contract hiring does not come with the duties associated with permanent employment may be a contributing factor in the growing demand. Recruiters get access to a larger pool of candidates, and the hiring process is quicker.

In the past several years, Europe has experienced a serious lack of healthcare workers. The situation was made worse by the omicron waves of 2022. 2 million healthcare employees are needed in Europe, according to estimations from the European Public Service Union from January 2022. Also, the European Commission estimates that by 2025, there will be 24,200,456 professionals employed in the healthcare sector, with over half of those experts expected to leave the profession or retire for other reasons. In the upcoming years, the market is most likely to be driven by all of these variables.

The objective of the report is to present a comprehensive analysis of the global Healthcare Staffing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Healthcare Staffing Market dynamic, structure by analyzing the market segments and projecting the Healthcare Staffing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Healthcare Staffing Market make the report investor’s guide.
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Healthcare Staffing Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 39.80 Bn.


Forecast Period 2023 to 2029 CAGR:
7.1%
Market Size in 2029:
US$ 64.33 Bn.


 Segments Covered:
by Service Type
Travel Nurse Staffing
Per Diem Nurse Staffing
Locum Tenens Staffing
Allied Health Care Staffing
Others


by End-user
Hospitals
Clinics
Ambulatory Surgical Centers
Home Care Settings
Private Sector



Healthcare Staffing Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players are:
1. Almost Family (US)
2. Adecco group (Switzerland)
3. CHG Management, Inc. (US)
4. AMN Healthcare (US)
5. Cross Country Healthcare, Inc. (US)
6. Envision Healthcare Corp. (US)
7. TeamHealth (US)
8. Maxim Healthcare Services Inc. (US)
9. Syneos Health, Inc. (US)
10.Jackson healthcare Llc US

Frequently Asked Questions:

1] What segments are covered in the Global Healthcare Staffing Market report?
Ans. The segments covered in the Healthcare Staffing Market report are based on Service Type, End-user.

2] Which region is expected to hold the highest share in the Global Healthcare Staffing Market?
Ans. The North America region is expected to hold the highest share in the Healthcare Staffing Market.

3] What is the market size of the Global Healthcare Staffing Market by 2029?
Ans. The market size of the Healthcare Staffing Market by 2029 is expected to reach US$ 64.33 Bn.

4] What is the forecast period for the Global Healthcare Staffing Market?
Ans. The forecast period for the Healthcare Staffing Market is 2023-2029.

5] What was the market size of the Global Healthcare Staffing Market in 2022?
Ans. The market size of the Healthcare Staffing Market in 2022 was valued at US$ 39.80 Bn.