According to Vision Research Reports, the global healthcare staffing market size is expected to be worth around US$ 50 billion by 2030 from valued at US$ 33 billion in 2021 and is anticipated to grow at a CAGR of 5.5% during forecast period 2022 to 2030.
According to Vision Research Reports, the global healthcare staffing market size is expected to be worth around US$ 50 billion by 2030 from valued at US$ 33 billion in 2021 and is anticipated to grow at a CAGR of 5.5% during forecast period 2022 to 2030.
The rising demand for temporary nursing staff especially due to growing geriatric population is boosting the scope for these services across the world.
In 2010, the Association of American Medical Colleges estimated that U.S. might face a shortfall of 150,000 doctors during the next 10-15 years. In August 2019, the National Association of Locum Tenens Organizations (NALTO) stated that 90% of the U.S. healthcare facilities use locum tenens providers and over 50,000 physicians work on locum tenens projects every year. The increasing number of physicians choosing to work as locum tenens is expected to propel the market growth over the forecast period.
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Furthermore, the hospitals are forced to reduce the staff and implement policies for ensuring the availability of nurses upon an increase in the workload, in response to the pressure of costs. Due to high penetration of the market, there is the availability of healthcare staff during emergencies, thereby driving the market growth.
Report Coverage of Healthcare Staffing Market
|
Report Scope |
Details |
|
Market Size in 2021 |
USD 50 Billion |
|
Growth Rate |
5.5% from 2022 to 2030 |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Historic Data |
2017 to 2021 |
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Companies Covered |
Almost Family; Adecco Group; CHG Management, Inc.; AMN Healthcare; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; TeamHealth; Maxim Healthcare Services, Inc. |
Service Insights
By service, the market has been segmented into a travel nurse, per diem nurse, locum tenens, and allied healthcare. In 2020, the travel nurse segment held a majority of the market in terms of revenue share. In response to the rising pressure of healthcare costs, hospitals are forced to reduce their staff and hence, opt for staffing services to ensure that nurses are available when workload increases.
Locum tenens, on the other hand, are expected to witness the fastest growth rate over the forecast period. The cost-efficiency for employers and the preference of physicians to work as locum tenens are some of the factors responsible for the segment growth. According to a survey conducted by Staff Care, an AMN Healthcare company, the number of physicians working as locum tenens is increasing continuously in U.S.
Regional Insights
The global healthcare staffing market was dominated by North America in terms of revenue share in 2020 owing to the presence of major players, lack of skilled professionals as compared to demand, and an increasing geriatric population. The market players are adopting strategic initiatives such as collaborations, acquisitions, and mergers in order to increase their network. Thus increasing market penetration is anticipated to propel the regional growth over the forecast period. For instance, Advance Medical acquired Rise Medical Staffing, a provider of travel nurse staffing services, in 2016. This will provide Advance Medical an opportunity to expand the travel nursing division and strengthen its foothold in hospital settings.
Asia Pacific is projected to witness the fastest growth over the forecast period as the demand for contract staffing is on the rise in the region. The rising demand can be attributed to the fact that employment through contract staffing involves no liabilities that are normally associated with permanent staff. In addition, the recruitment process is faster and recruiters can choose from a larger pool of candidates.
Key Players
Almost Family; Adecco Group; CHG Management, Inc.; AMN Healthcare; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; TeamHealth; Maxim Healthcare Services, Inc.
Market Segmentation
- Service Type Outlook
- Travel Nurse Staffing
- Per Diem Nurse Staffing
- Locum Tenens Staffing
- Allied Healthcare Staffing
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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