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The dynamic demands of healthcare facilities, the changing workforce, and the rising need for trained experts are all factors that influence the market dynamics of the healthcare staffing business, which are inextricably linked to the larger healthcare environment. This market's main driver is the ongoing need for qualified healthcare workers in a variety of specializations and responsibilities. The need for flexible staffing solutions to handle short-term shortages, seasonal demand swings, and specialized knowledge has grown as healthcare delivery grows more complicated and varied.
Developments in technology have a significant impact on how the healthcare personnel market behaves. Staffing companies are now able to link healthcare professionals with employment openings thanks to the transformation of the recruiting and placement processes brought about by online platforms, digital communication tools, and data analytics.
Technology promotes a more flexible and responsive employment environment by streamlining the recruiting process and facilitating continuing interaction and communication between healthcare institutions and employees.
The major clientele of staffing firms include hospitals, clinics, nursing homes, and other healthcare providers, hence exerting a substantial effect on market dynamics. The need for a wide spectrum of healthcare workers is further fueled by the industry's reaction to evolving healthcare delivery models, including the emergence of telemedicine and the requirement for specialized skills in fields like IT and healthcare administration. In order to guarantee proper staffing levels and uphold high standards of patient care, healthcare institutions and staffing firms work together closely.
Regulations play a major role in the healthcare employment industry. Strict rules regulate the education, training, and certification requirements for healthcare workers due to the vital nature of these services. In order to contribute to the general quality and safety of patient care, staffing agencies must comply with these requirements and make sure that the professionals they place satisfy the required criteria.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Service Type, End-Use, and Region |
Healthcare Staffing Market Highlights:
Healthcare Staffing Market Overview
The Healthcare Staffing Market Size was valued at USD 37.2 Billion in 2023 and is projected to grow from USD 39.91 Billion in 2024 to USD 70.13 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2023 - 2032). Some of the key market drivers promoting market expansion include increased consumer knowledge of the benefits of temporary work, job-related incentives, and the availability of opportunities across the country.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Healthcare Staffing Market Trends
Growing shortage of healthcare workers is driving the market growth
The healthcare staffing industry is anticipated to develop in the future due to the growing scarcity of healthcare workers. Healthcare personnel includes frontline caregivers, other healthcare professionals who are not directly associated with patients, medical students performing clinical rotations, and other individuals who work in a healthcare or social care context. They are in responsibility of condition assessment, diagnosis, and treatment in addition to working to avoid illness and damage. In recent years, the number of medical professionals working in hospitals all around the world has decreased. For instance, as of October 2021, over 16% of hospitals were facing major staffing shortages, according to Providertech LLC, a US-based healthcare company, which published its findings in February 2022. By 2026, there will be a 3.2 million-person shortage of healthcare workers nationwide. As a result, the future expansion of the healthcare staffing industry is being driven by the growing lack of healthcare workers.
It is anticipated that the market would expand more quickly as additional acute care facilities, public and private hospitals, long-term care facilities, and other healthcare institutions are built. As a consequence of increased public health financing and improved healthcare infrastructure, there are more hospitals today. The ability to serve as the patients' primary advocates by launching health programmes to encourage improved treatment is anticipated to be granted by new regulations to help staff members, particularly nurses. The rights of people to make informed healthcare decisions are supported and advanced by these policies.
The rapid expansion of the hospital sector is being fueled by both technological advancement and an increase in diseases around the world. The industry is expanding at an impressive rate as a result of its expanded coverage, services, and higher spending by the general public and private investors. Additionally, there have been notable increases in the long-term care facilities, number of government and non-government hospitals, and other types of medical facilities, all of which are expected to support the expansion of healthcare providers. With regard to the healthcare sector in particular, it is anticipated that there would be an inherent need for more healthcare professionals to efficiently supply the labor force needed to support the healthcare staffing market revenue.
Healthcare Staffing Market Segment Insights
Healthcare Staffing Service Type Insights
The Healthcare Staffing Market segmentation, based on service type includes Travel Nurse Staffing, Per Diem Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing and Others. The allied healthcare staffing segment dominated the market. The primary function of allied healthcare professionals, in contrast to nursing, pharmacy, and medical staff, is to preserve the efficiency of the healthcare system by offering technical, diagnostic, therapeutic, and support services. The term "allied healthcare staffing" refers to the employment of professionals who provide assistance and technical support, including radiology technicians, pharmacy assistants, home health aides, dental assistants, and assistants and technicians.
Healthcare Staffing End-Use Insights
The Healthcare Staffing Market segmentation, based on end-use, includes Hospitals, Clinics, Ambulatory Facilities and Others. The hospitals category generated the most income. Hospital clients demand the most assistance from healthcare staffing firms due to the larger institutions' need for more employees. As a further cost-cutting measure, hospitals are still using temporary staff instead of permanent ones. In light of the shortfall, hospitals may find it more advantageous to employ permanent medical specialists.
Figure 1: Healthcare Staffing Market, by End-Use, 2022 & 2032 (USD Billion
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Healthcare Staffing Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American healthcare staffing market area will dominate this market. The highest proportion held by this region is largely attributable to the presence of important market participants locally, a growth in the geriatric population, and an increase in hospital need for medical staff as a result of the financial hardships associated with recruiting permanent employees.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HEALTHCARE STAFFING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe healthcare staffing market accounts for the second-largest market share. The absence of adequate medical facilities in the area is increasing the demand for healthcare workers. Growth in the European region is also fueled by rising public spending on bettering the region's healthcare infrastructure and continued R&D capabilities. Further, the German healthcare staffing market held the largest market share, and the UK healthcare staffing market was the fastest growing market in the European region
The Asia-Pacific Healthcare Staffing Market is expected to grow at the fastest CAGR from 2023 to 2032. The rising demand could be attributed to the fact that contract labor does not come with the same responsibilities as permanent employment. Additionally, the hiring process is quicker, and recruiters have access to a larger pool of candidates. Moreover, China’s healthcare staffing market held the largest market share, and the Indian healthcare staffing market was the fastest growing market in the Asia-Pacific region.
Healthcare Staffing Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the healthcare staffing market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, healthcare staffing industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global healthcare staffing industry to benefit clients and increase the market sector. In recent years, the healthcare staffing industry has offered some of the most significant advantages to medicine. Major players in the healthcare staffing market are attempting to increase market demand by investing in research and development operations includes Envision Healthcare Corporation; AMN Healthcare; CHG Management, Inc; Maxim Healthcare Group; Cross Country Healthcare, Inc.; Aya Healthcare; Trustaff; TeamHealth; Adecco Group; and LocumTenens.com.
Maxim Healthcare Group, a privately held medical staffing business with its headquarters in Columbia, Maryland, was initially established as MEDCALL Medical Staffing in 1988. According to the U.S. Attorney's office in New Jersey, fraudulent billings and misleading representations to health regulators were "a common practice at Maxim from 2003 through 2009," and the company, along with some of its employees, came under government investigation beginning in 2009.
Post-acute care, physician-led treatments, and ambulatory surgery are all offered by Envision Healthcare Corp (Envision Healthcare). It offers a wide range of services, including those related to the emergency room and hospitalists, children's services, surgery, post-acute care, office-based services, anesthesiology, clinical solutions, radiology/tele-radiology, hospital-based physician staffing and related management services, home health services, and ambulatory surgery solutions.
Key Companies in the healthcare staffing market include
- Envision Healthcare Corporation
- AMN Healthcare
- CHG Management, Inc
- Maxim Healthcare Group
- Aya Healthcare
- Trustaff
- TeamHealth
- Adecco Group
- Cross Country Healthcare, Inc.
- com
Healthcare Staffing Industry Developments
June 2022: Vibra Travels, a travel nursing and healthcare staffing company, was established by Vibra Healthcare to assist with healthcare staffing.
May 2022: NurseShifts, a new mobile app and marketplace for on-demand staffing, was created by StaffHealth.com to help nurses locate shifts more quickly.
June 2021: Workforce Solutions Group Inc. was purchased by US employment agency Cross Country Healthcare Inc. for $25 million in cash and $5 million in stock. With the help of this acquisition, they can better serve their aging population and other patients while expanding their footprint in the home care sector and playing a different kind of healthcare role. The US-based healthcare employment agency platform Workforce Solutions Group Inc. provides cutting-edge solutions that enable people to comprehend staffing requirements, develop existing personnel, and attract and retain new talent.
Healthcare Staffing Market Segmentation
Healthcare Staffing Service Type Outlook (USD Billion, 2018-2032)
- Travel Nurse Staffing
- Per Diem Nurse Staffing
- Locum Tenens Staffing
- Allied Healthcare Staffing
- Others
Healthcare Staffing End-use Outlook (USD Billion, 2018-2032)
- Hospitals
- Clinics
- Ambulatory Facilities
- Others
Healthcare Staffing Regional Outlook (USD Billion, 2018-2032)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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