The Global Healthcare Staffing Market Size accounted for USD 33.6 Billion in 2021 and is projected to occupy a market size of USD 57.2 Billion by 2030 growing at a CAGR of 6.2% from 2022 to 2030.
Healthcare Staffing Market Statistics
Healthcare staffing agencies are recruitment firms that provide a broad spectrum of healthcare staff ranging from nurses and physicians to allied clinicians and pharmacists. Healthcare facilities often need assistance for recruitment on a short and long-term basis due to funding gaps and a shortage of skilled workforce. Locum tenens travel nurses, per diem nurses, and allied healthcare professionals are the major staff that hospitals and other healthcare facilities need. High demand for these professionals due to the aging population and shortage of skilled professionals are the driving factors of the market. According to a recent report published by CNN, the U.S. will need to recruit about 2.3 million new doctors, nurses, and nursing assistant professionals by 2025 to take care of its aging population. This shortage is even more in rural or remote areas. Hence, healthcare facilities recruit staff on a contract basis so that depending on their requirement they can get help from locum tenens or travel nurses.
Global Healthcare Staffing Market Dynamics
Healthcare Staffing Market Report Coverage
|Market||Healthcare Staffing Market|
|Healthcare Staffing Market Size 2021||USD 33.6 Billion|
|Healthcare Staffing Market Forecast 2030||USD 57.2 Billion|
|Healthcare Staffing Market CAGR During 2022 - 2030||6.2%|
|Healthcare Staffing Market Analysis Period||2018 - 2030|
|Healthcare Staffing Market Base Year||2021|
|Healthcare Staffing Market Forecast Data||2022 - 2030|
|Segments Covered||By Service Type, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Almost Family, Adecco Group, AMN Healthcare, Cross Country Healthcare, Inc., Envision Healthcare Corporation, General Healthcare Resources, Inc., Maxim Healthcare Services, Inc., inVentiv Health, Local Staff, LLC., and TeamHealth.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Healthcare Staffing Market Growth Factors
Opportunities to travel, flexible schedules, short-term assignments, and experience at different locations are attracting healthcare staff to work as travel nurses or temporarily. Thus, the growing preference of healthcare staff to work temporarily is anticipated to further propel market growth. The strong demand for all healthcare professionals across the globe due to the aging population and an increasing number of patients suffering from chronic diseases and a lack of skilled professionals are expected to boost the market growth. For instance, according to the World Health Organization (WHO), in 2013, there was a shortage of 7.2 million healthcare workers across the world. It is anticipated to reach 12.9 million by 2035.
The entry of new players, mergers, and acquisitions of existing layers for expansion, and investment by investment firms in the healthcare staffing agencies considering the growth in the market are the key factors to stimulate market growth. For instance, investment by KKR Group, Humana, and others invested in healthcare staffing agencies in recent years. However, stringent employment policies for the welfare of staff and advances in biomedical technology are key limiting factors of the global healthcare staffing market.
Healthcare Staffing Market Segmentation
The global healthcare staffing market is segmented based on service type, and geography.
Healthcare Staffing Market By Service Type
According to our healthcare staffing industry analysis, the travel nurse segment accounted for the largest segment of the market in 2021. However, the locum tenens segment is expected to observe the fastest growth during the forecast period. The allied healthcare segment consists of physical therapists, occupational therapists, pharmacists, and respiratory therapists. The rising demand of these professionals due to the increasing geriatric population and chronic disease patients and shortage of skilled service providers are the key factors for the dominance of the segment in the market. Furthermore, several allied professionals choose to work in the contract due to flexibility for the work and opportunity to work with various organizations. According to the JOLTS survey in the U.S., a wide gap has found between job openings and job hires in the healthcare field. For instance, in January 2016, about 1,046,000 openings were there in the healthcare sector and 519,000 job hires that means about half millions of unfilled jobs. The gap has been growing since 2014.
Healthcare Staffing Market Regional Outlook
The Middle East & Africa
Healthcare Staffing Market Regional Analysis
The North America region accounted for the maximum share of the global healthcare staffing market in 2021 due to a lack of skilled professionals as compared to demand, cost-cutting of hospitals and healthcare supplier, and preference of healthcare professionals to work independently. Presence of major service providers in the region is another key factor for the dominance in the market. Strategic initiatives such as mergers and collaborations by these players further propel the market growth. For instance, in June 2019, AMN Healthcare acquired Advanced Medical Personnel Services, Inc., an allied and nurse staffing agency that serves clinics, hospitals, skilled nursing facilities, schools, and home health settings. With this acquisition, AMN healthcare expands its allied professionals and nursing staff along with the number of clients.
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. This can be attributed to increasing awareness about the advantages associated with contract staffing. Contract staffing does not involve liabilities that normally associated with permanent staff, one can choose from a larger pool, and the recruitment process is faster. India, China, Singapore, Australia, and Japan are the key markets in the Asia-Pacific region.
Healthcare Staffing Market Players
Major companies contributing the global healthcare staffing market are Almost Family, Adecco Group, AMN Healthcare, Cross Country Healthcare, Inc., Envision Healthcare Corporation, General Healthcare Resources, Inc., Maxim Healthcare Services, Inc., inVentiv Health, Local Staff, LLC., and TeamHealth.
The market size of healthcare staffing market in 2021 was accounted to be USD 33.6 Billion.
The projected CAGR of healthcare staffing market during the analysis period of 2022 to 2030 is 6.2%.
The prominent players of the global healthcare staffing market include Almost Family, Adecco Group, AMN Healthcare, Cross Country Healthcare, Inc., Envision Healthcare Corporation, General Healthcare Resources, Inc., Maxim Healthcare Services, Inc., inVentiv Health, Local Staff, LLC., and TeamHealth.
North America held the dominating healthcare staffing during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for healthcare staffing during the analysis period of 2022 to 2030.
Shortage of healthcare staff, growing number of healthcare units, increasing incidences of chronic disorders, and rising significance of optimum healthcare drives the growth of global healthcare staffing market.
Based on service type, travel nurse segment is expected to hold the maximum share of the healthcare staffing market.