Healthcare Staffing Market Size to Worth Around US$ 48.2 Bn by 2030

Published Date : 22, 2022

As per Precedence Research, the healthcare staffing market size was valued at US$ 32.36 billion in 2021 and it is expected to worth around US$ 46.54 billion by 2029 with a rising CAGR of 4.7% from 2022 to 2030.

Growth Factors

The demand for health care workers is likely to rise as a result of this. The rising frequency of chronic disorders in emerging nations such as diabetes and cancer, presents significant prospects in the global healthcare staffing market.

Third party contractors provide health care staffing to hospitals and clinics. The service enables health are organizations to hire workers without having to go through a lengthy hiring process. In addition, the facility enables health care organizations to concentrate on other critical business issues. Hospitals, clinics, and research institutions are increasingly turning to health care staffing.

Due to the growing worldwide elderly population, the global healthcare staffing market is expected to rise at a rapid rate. The global healthcare staffing market is being driven by an increase in medical professionals volunteering to work as agency staff. The job allows people to achieve a better work life balance and gain practical experience with their chosen competence. Furthermore, an increase in the number of health care units, the surge in pollution, and an increase in health care budgets are expected to boost the global healthcare staffing market.

The growing senior population is driving up healthcare staffing need both directly and indirectly. As more people choose to pursue medical science as a career, there will be an increase in number of the healthcare professionals. More need for hospital employment has resulted from the growth and expansion of health care infrastructure. The potential of expansion for the healthcare staffing market has been further broadened by rising expenditure to upgrade healthcare facilities, particularly in emerging nations.

In addition, due to economic concerns, hospitals are compelled to cut staff and adopt rules to ensure the availability of nurses in the event of an increase in workload. As the market’s high penetration, health care personnel are readily available during emergencies, fueling the growth of the healthcare staffing market during the forecast period.

Market competition for temporary employment and workforce solutions is fierce. In conjunction with managed service programs, healthcare staffing organizations provide nurses staffing. To meet on-demand needs, the key market players organize their data link assignments to the appropriate clinicians. Furthermore, by strengthening their digital skills, businesses can include novel technology into recruitment.

  • COVID-19 is more common in the elderly population. During the pandemic, there was a considerable increase in the demand for nurse staffing.

Scope of The Rpeort

Report Attributes Details
Market Size in 2021 USD 32.36 Billion
Revenue Forecast by 2030 USD 48.82 Billion
CAGR 4.7% from 2022 to 2030
Base Year 2021
Forecast Data 2022 to 2030
Market Segmentation
  • Service
  • End User
  • Region

 

Report Highlights:

  • Based on the service, the travel nurse segment dominated the global healthcare staffing market in 2020 with highest market share. The short-term assignments, high income, and travel opportunities all contribute to the growth of the segment. Moreover, hospitals are being obliged to cut their employees as a result of rising medical costs. Thus, they choose for these services to ensure that nurses are present when the workload grows. 
  • North America is the largest segment for healthcare staffing market in terms of region. To expand their network, the major market players are pursuing strategic initiatives such as acquisitions, collaborations, and mergers. Over the projection period, increased market penetration is expected to boost the regional growth. 
  • Asia-Pacific region is the fastest growing region in the healthcare staffing market. The increased demand might be linked to the fact that contract staffing has number of the obligations that come with hiring permanent employees. Furthermore, the recruitment process is faster and recruiters have a broader pool of prospects from which to choose, which is driving the market expansion.

Key Developments in the Marketplace:

  • Workforce Solutions Group Inc. a provider of talent management solutions was acquired by Cross Country Healthcare Inc. in June 2021.
  • Emergency Medicine Consultants, an emergency medical staffing firm was bought by TeamHealth in February 2018. TeamHealth will gain 80 advanced practice clinicians and 330 physicians as a result of this transaction.
  • In August 2017, Novation Companies Inc. purchased Healthcare Staffing Inc.
  • In May 2021, AMN Healthcare, a staffing firm, will pay $42.5 million for telehealth providers. AMN Healthcare bought Synzi, a virtual care provider, to expand its staffing alternatives for customers.
  • In July 2021, Jackson Healthcare, an Atlanta-based healthcare staffing agency, announced the merger of its Kirby Bates Associates and Tyler & Co. brands.

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