Westford, USA, April 17, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Healthcare Staffing market will attain a value of USD 44.11 billion by 2030, with a CAGR of 4.6% over the forecast (2022-2030). Significant increases in the number of government and non-government hospitals, long-term care centres, acute care centres and other types of health institutions are expected to drive market growth. The expansion of hospitals is being driven by improvements in healthcare infrastructure and increased investment in public health. New legislation is expected to give allied health professionals, particularly nurses, the authority to act as patients' primary advocates by initiating health plans to facilitate better care. Such legislation safeguards and promotes patients' right to make informed healthcare decisions.
According to the SkyQuest's, The shortage of skilled professionals and nurses in hospitals has an impact on both patient care and clinical outcomes. According to the US Bureau of Labor Statistics, the demand for medical personnel is expected to increase from 2020 to 2030, with an additional 275,000 nurses needed. From 2016 to 2026, employment opportunities for nurses are expected to grow at a faster rate (9%) than for all other occupations.
Browse in-depth TOC on "Healthcare Staffing Market"
- Pages – 241
- Tables - 65
- Figures - 65
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Healthcare staffing entails the supply or recruitment of trained and skilled healthcare workers. These specialists are required in hospitals and clinics, pharmaceutical companies and government agencies. Rising healthcare costs and an ageing population are expected to be the primary market drivers for the global healthcare industry, increasing the demand for medical staffing. Furthermore, the expected shortage of skilled medical professionals in the future allows the global healthcare staffing market to expand further.
Prominent Players in Healthcare Staffing Market
- Almost Family
- Adecco Group
- CHG Management, Inc.
- AMN Healthcare
- Cross Country Healthcare, Inc.
- Envision Healthcare Corp.
- LocumTenens.com
- TeamHealth;
- Maxim Healthcare Services Inc.
- Syneos Health, Inc.
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Hospitals Segment Is Dominating the Market Due to Increased Government Fundings
In 2022, the hospitals segment dominated the market with a 43% revenue share. The segment is expected to experience the largest market growth. The majority of hospitals are building their workforce in accordance with government regulations. Various government bodies have established standards for standard nurse-to-patient ratios, which hospitals must adhere to. To meet the high demand, patient-centric regulations and laws are increasing the number of staff members in hospitals.
North America dominated the global market in 2022, accounting for 59.0% of revenue. The local presence of key market players, an increase in the geriatric population and an increase in hospital demand for medical staff due to financial setbacks associated with hiring permanent staff are some of the major factors contributing to this region's largest share.
Healthcare facilities Segment Is Expected to Grow the Market Due to Growing Chronic Diseases
The healthcare facilities segment is expected to be worth more than USD 82.5 billion by 2032. The rising prevalence of chronic diseases has increased patient traffic in hospitals and other medical facilities. The increased number of patient admissions as a result of these conditions has increased the workload, highlighting the need for skilled healthcare professionals. According to credible sources, the annual turnover rate in ICUs, nursing homes and emergency departments increased from 19% prior to the pandemic to 32% in 2021, increasing the demand for healthcare staffing.
Asia Pacific is expected to have the fastest CAGR during the forecast period as demand for contract labour rises in the region. The increased demand could be attributed to the fact that contract hire does not carry the obligations that are traditionally associated with permanent employees. Furthermore, the recruitment process is faster and recruiters have access to a larger pool of candidates.
A comprehensive analysis of the major players in the Healthcare Staffing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Healthcare Staffing Market
- In February 2022, Cross Country Healthcare acquired nearly all of the assets of Selected, a cloud-based matching and recruiting talent platform that matches educators with institutions based on mutually agreed-upon preferences to ensure a customized and long-term fit.
- In May 2021, AMN Healthcare, a staffing firm pay USD 42.5 million for telehealth providers. AMN Healthcare acquired Synzi, a virtual care provider, to increase client staffing options.
Key Questions Answered in Healthcare Staffing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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