Burlingame, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, Global Healthcare Staffing Market, By Service Type (Travel Nurse Staffing, Allied Healthcare Staffing, Per Diem Nurse Staffing, and Locum Tenens Staffing) and By Geography, and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global healthcare staffing market was valued at US$ 36.89 Bn in 2022 and is expected to reach US$ 65.92 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. The healthcare staffing market consists of organizations that provide skilled medical professionals either temporarily or permanently to healthcare facilities like hospitals, nursing homes, and private practices. These staffing agencies help address staffing needs and fill open positions.
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Market Dynamics:
The Healthcare Staffing Market is driven by two key factors. Firstly, the increasing demand for qualified healthcare professionals is expected to drive the growth of the market. The rising global population, along with the growing prevalence of chronic diseases, has led to an increased demand for healthcare services. As a result, healthcare facilities are continuously seeking healthcare professionals such as doctors, nurses, and medical technicians to fulfill this demand. However, finding and hiring qualified healthcare professionals can be a challenging task for healthcare facilities, leading to the high demand for healthcare staffing services. These services help healthcare facilities to fill the staffing gaps efficiently and quickly.
Healthcare Staffing Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2022 | $39.52 billion |
| Estimated Value by 2030 | $65.92 billion |
| Growth Rate | Poised to grow at a CAGR of 7.6% |
| Historical Data | 2017–2021 |
| Forecast Period | 2023–2030 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Service Type |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Restraints & Challenges | • Shortage of skilled health workers • Stringent rules and regulations |
| Growth Drivers | • Shortage of healthcare workers • Rise in burden of chronic disease |
Secondly, the advancement in technology is also expected to drive market growth. With the constant advancements in medical technology, healthcare facilities require professionals who are skilled and knowledgeable in using these technologies. Healthcare staffing agencies help in providing healthcare professionals who have the expertise to operate and manage these advanced technologies effectively. This not only enhances patient care but also improves operational efficiency within healthcare facilities.
Market Trends:
There are two key trends observed in the Healthcare Staffing Market. Firstly, the use of telehealth services has become increasingly popular. Telehealth provides patients with remote access to healthcare services through video conferencing and remote monitoring technologies. This trend has created a demand for healthcare professionals who are well-versed in using telehealth platforms and technologies. Healthcare staffing agencies are focusing on recruiting professionals who possess the necessary skills for providing telehealth services, thus meeting the rising demand.
Secondly, there is a growing trend of healthcare facilities outsourcing their staffing needs to specialized staffing agencies. These agencies have access to a vast pool of qualified healthcare professionals and can quickly identify the right candidates for various healthcare positions. Outsourcing staffing needs enables healthcare facilities to focus on their core functions while leaving the recruitment and hiring process in the hands of experts.
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Market Opportunities:
Growing Demand for Healthcare Services Worldwide
The healthcare industry is witnessing significant growth worldwide, leading to an increased demand for healthcare staffing services. Factors such as the aging population, advanced healthcare technologies, and the rising prevalence of chronic diseases contribute to the need for more healthcare professionals. As a result, the healthcare staffing market presents a lucrative opportunity for companies operating in this sector. By providing skilled and qualified healthcare professionals, healthcare staffing services can support healthcare facilities in meeting the growing demand and improving patient outcomes.
Shortage of Healthcare Professionals
Many regions, including developed nations, are grappling with a shortage of healthcare professionals. This shortage is due to factors such as an aging healthcare workforce, inadequate training programs, and limited availability of specialized healthcare professionals in certain regions. As a result, healthcare facilities face challenges in recruiting and retaining healthcare professionals in areas of high demand. Healthcare staffing services offer a solution to this problem by providing temporary or permanent healthcare professionals as per the facility's requirements. This shortage presents a significant market opportunity for healthcare staffing companies to bridge the gap between supply and demand.
Recent Developments:
In June 2022, Vibra Healthcare created a new firm named Vibra Travels, which specialises in travel nursing and healthcare staffing.
In May 2022, StaffHealth.com introduced NurseShift, a new mobile app and marketplace built for on-demand staffing that will assist nurse in finding shifts more quickly.
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Key Market Takeaways:
The Healthcare Staffing Market is anticipated to witness a CAGR of 7.6% during the forecast period 2023-2030, owing to the growing demand for healthcare services worldwide. On the basis of service type, the Travel Nurse Staffing segment is expected to hold a dominant position. This is due to the increasing need for travel nurses who can provide temporary support in healthcare facilities facing shortages or seasonal demand spikes. North America is expected to hold a dominant position in the market, driven by factors such as the aging population and the presence of advanced healthcare facilities.
Key players operating in the Healthcare Staffing Market include LocumTenens.com, Adecco Group, TeamHealth, Trustaff, Aya Healthcare, Maxim Healthcare Group, CGM Management, Inc., AMN Healthcare, Cross Country Healthcare, Inc., and Envision Healthcare Corporation. These companies play a crucial role in meeting the staffing needs of healthcare facilities and ensuring the delivery of quality healthcare services. With their extensive networks and expertise in healthcare staffing, these key players hold a competitive advantage in the market.
Overall, the healthcare staffing market offers substantial opportunities for companies to cater to the growing demand for healthcare professionals. By addressing the shortage of healthcare professionals and providing reliable and qualified staffing solutions, healthcare staffing companies can contribute to improving healthcare outcomes worldwide. As the demand for healthcare services continues to rise, it is crucial for key players in the market to adapt to evolving market trends, leverage technology for efficient staffing processes, and establish strong partnerships with healthcare facilities. With a strategic approach and a focus on quality, healthcare staffing companies can maximize their market potential and play a crucial role in addressing the workforce challenges faced by the healthcare industry.
Read complete market research report,"Healthcare Staffing Market, By Service Type and, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2023-2030", Published by Coherent Market Insights.
Detailed Segmentation:
By Service Type:
- Travel Nurse Staffing
- Allied Healthcare Staffing
- Per Diem Nurse Staffing
- Locum Tenens Staffing
By Geography:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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