Healthcare Staffing Market Report
Healthcare Staffing Market by Type (Allied Healthcare Staffing, Per Diem Nurse Staffing, Travel Nursing, and Locum Tenens Staffing), End-user (Hospitals, Clinics, Clients, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031
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Impact of covid-19 on Healthcare Staffing Market
Global Healthcare Staffing Market Analysis
The Global Healthcare Staffing Market Share was $40,080 million in 2021 and is predicted to grow with a CAGR of 8.9%, by generating a revenue of $89,763.9 million by 2031.
Global Healthcare Staffing Market Synopsis
The aging population with chronic disease burdens such as cardiovascular diseases, hypertension, diabetes, mental health issues, and health concerns are changing and growing more complex. Along with these challenges, effective workforce strategies that encourage the recruitment, and sustainability of qualified healthcare staff are urgently required to adequately fulfill these rising demands, which place challenging pressures on healthcare systems around the world. The strength of a robust healthcare workforce, both in terms of quality and quantity, is essential for establishing universal health coverage, achieving appropriate population health standards, and fostering equal access to care.
The aging population and rising demand are putting an increasing strain on most countries' healthcare systems, requiring more and more medical personnel. From that point of view, the recent advent of automation and the use of robots in the healthcare system such as in surgery, simplify complex operations and expand the patient pool. The rising use of artificial intelligence, automation for surgical procedures, and the use of robots for patient care is replacing the place of healthcare staffing. All these factors are anticipated to hinder the healthcare staffing market growth.
Population expansion is one of the major causes of care demand. According to the American Association of Medical Colleges (AAMC) demographic projections, the US population will expand from 332 million in 2022 to 361 million in 2032. As the population ages, more people over the age of 65 will require specialist healthcare to manage chronic illnesses for a longer period of time than earlier generations. As a result, demand for geriatricians and other specialists is expected to increase, changing the balance of available doctors capable of serving the general population.
Healthcare Staffing Market Overview
Healthcare staffing offers a wide range of services, such as finding qualified people, using technology to check applicants' and workers' credentials, validating skills, confirming licenses and certificates, and doing any other screening procedures. The goal of accreditation is to show that a medical staffing agency is committed to offering a higher caliber of service.
COVID-19 Impact on Global Healthcare Staffing Market
The COVID-19 pandemic resulted in an increase in patients exponentially. This in return had an impact on the overall increase in healthcare services and other related sectors. It also had a positive impact on the overall growth of the healthcare staffing market. It is mainly due to an increase in demand for physicians and healthcare providers. The shortage of healthcare workers has opened new opportunities for global healthcare providers. Many hospitals during the COVID-19 pandemic hired temporary healthcare staff from healthcare staffing agencies. COVID-19 pandemic resulted in a surge in demand for virtual clinics and treatments. More and more people opted for virtual treatment rather than visiting hospitals due to lockdowns and the risk of getting infected by the COVID-19 virus. The government and hospitals have hired healthcare staff during the pandemic to provide virtual assistance to people during the COVID-19 pandemic.
For instance, during the COVID-19 pandemic in India, many states such as Maharashtra, Gujarat, Delhi, and others hired healthcare workers to cater to the supply and demand during the COVID-19 pandemic situation.
Growing Need for Flexible Staffing Services to Drive the Market Growth
The expanding older population globally is creating an ideal situation for chronic diseases. Most people nowadays can expect to live into their sixties and beyond. The number of older people and their share of the population is increasing. According to a WHO report published in October 2022, by the year 2030, one in every six persons will be 60 or older. At this point, the proportion of the population aged 60 and up will rise from 1 billion in 2020 to 1.4 billion in 2030. The number of persons in the globe who are 60 years or older will double by 2050. The number of people aged 80 and more is predicted to reach between 2020 and 2050, reaching 426 million. The prevalence of infectious and chronic diseases in an aging society is anticipated to have a significant impact on medical care. The population of people 65 years and older is expected to increase by 55%, whereas the population of people under the age of 18 is only expected to increase by 5%. Seniors are more likely to suffer chronic illnesses like heart disease, cancer, and non-infectious airway disorders, which increases their need for different healthcare services and the demand for healthcare staff which is accounted to drive the healthcare staffing market size.
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Increasing use of AI and Robots in the Healthcare Industry to Restrain the Market Growth
The rising use of Artificial Intelligence and robots in healthcare care such as the use of robotic-assisted surgery which allows doctors to execute a wide range of complex operations with better precision, flexibility, and control than traditional approaches. Medical staffing is being replaced by robotics and automation. The global healthcare staffing market opportunity is hindered by the rising need for automation which is anticipated to hamper the healthcare staffing market growth.
The Increased Number of Hospitals and Care Centers to Drive Excellent Opportunities
The development of technology and the rise in various ailments across the globe are both contributing to the rapid growth of the hospital industry. Due to its expanded coverage, services, and greater spending by the general public and private investors, the industry is growing at an impressive rate due to significant increases in the number of government and non-government hospitals, long-term care facilities, and other types of medical facilities which are predicted to aid in the growth of healthcare providers. Taking this particular growth of healthcare, it is projected that there will be an intrinsic need for more healthcare staff to effectively supply the people required to complement the industry's growth.
To know more about global healthcare staffing market opportunities, get in touch with our analysts here.
Global Healthcare Staffing Market, by Type
Based on type, the market has been divided into allied healthcare staffing, per diem nurse staffing, travel nursing, and locum tenens staffing. Among these, the allied healthcare staffing sub-segment accounted for the highest market share in 2021 whereas the locum tenens staffing sub-segment is estimated to show the fastest growth during the forecast period.
Global Healthcare Staffing Market Share, by Type, 2021
Source: Research Dive Analysis
The allied healthcare staffing sub-type is accounted to have a dominant market share in 2021. The phrase allied health refers to the majority of healthcare providers who support other specialists in the prevention, diagnosis, and treatment of a wide range of illnesses and medical disorders. Allied healthcare staffing are those in healthcare that are not from the medical or nursing fields. They make up the remaining medical team members, which helps with technological difficulties, diagnosis, and rehabilitation.
The locum tenens staffing sub-type is anticipated to show the fastest growth in 2021. Locum tenens is derived from the Latin phrase to hold a place. Therefore, a locum tenens staffing is a person who fills in for a regular healthcare staff place while they are away. When practices are short-staffed, locum tenens staffing ensures that all patients receive adequate care because they are highly trained medical specialists who can travel around as needed, and fill in for other healthcare staff places.
Global Healthcare Staffing Market, by End-user
Based on end-user, the market has been divided into hospitals, clinics, clients, and others. Among these, the hospitals sub-segment accounted for the highest revenue share in 2021.
Global Healthcare Staffing Market Share, by End-user, 2021
Source: Research Dive Analysis
The hospitals sub-type accounted to have dominating market share in 2021. The demand for more employees in hospitals is rising as a result of the increasing population and an increase in government and private hospitals. Hospitals include diagnosis, counseling, observation, treatment, and intervention services. Also, the majority of hospitals and healthcare facilities structure their workforce in accordance with the stringent guidelines established by the government. Due to patient-centered rules and regulations, big firms are hiring more people to meet the rising demand for healthcare.
Global Healthcare Staffing Market, Regional Insights
The healthcare staffing market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Global Healthcare Staffing Market Size & Forecast, by Region, 2021-2031 (USD Million)
Source: Research Dive Analysis
The Market for Healthcare Staffing in North America to be the Most Dominant
North America will likely hold the largest share of the global healthcare staffing market share. A number of reasons are anticipated to be advantageous for the region's healthcare staffing industry, including the region's increasing aging population, supportive governmental policies, well-developed healthcare infrastructure, and accessibility of medical coverage. Also, the number of government and non-government hospitals, long-term care facilities, and other healthcare institutions would increase dramatically, greatly increasing healthcare staffing market growth.
Competitive Scenario in the Global Healthcare Staffing Market
Investment and agreement are common strategies followed by major market players. For instance, in December 2022, Ingenovis Health, the seventh-largest healthcare staffing service in the U.S., has acquired Springboard Healthcare, a Phoenix-based healthcare travel staffing and education company.
Source: Research Dive Analysis
Some of the leading healthcare staffing market players are AMN Healthcare, Envision Healthcare Corporation, CHG Management, Inc., Maxim Healthcare Group, Cross Country Healthcare, Inc., Trustaff, Aya Healthcare, Teamhealth, Adecco Group, and Locumtenens.Com
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Type
Segmentation by End-user
Key Companies Profiled
Q1. What is the size of the global healthcare staffing market?
A. The size of the global healthcare staffing market was over $40,080 million in 2021 and is projected to reach $89,763.9 million by 2031.
Q2. Which are the major companies in the healthcare staffing market?
A. AMN Healthcare, Envision Healthcare Corporation, and CHG Management, Inc. are some of the key players in the global healthcare staffing market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific healthcare staffing market?
A. Asia-Pacific healthcare staffing market is anticipated to grow at 11.7% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.5.Market size estimation
2.2.Key objectives of the study
2.5.Overview of the impact of COVID-19 on the global healthcare staffing market
4.2.Growth impact forces
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.7.Impact of COVID-19 on the healthcare staffing market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Healthcare Staffing Market Analysis, by Type
5.2.Allied Healthcare Staffing
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region, 2021-2031
5.2.3.Market share analysis, by country, 2021-2031
5.3.Per Diem Nurse Staffing
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region, 2021-2031
5.4.Market share analysis, by country, 2021-2031
5.5.1.Definition, key trends, growth factors, and opportunities
5.5.2.Market size analysis, by region, 2021-2031
5.6.Market share analysis, by country, 2021-2031
5.7.Locum Tenens Staffing
5.7.1.Definition, key trends, growth factors, and opportunities
5.7.2.Market size analysis, by region, 2021-2031
5.7.3.Market share analysis, by country, 2021-2031
5.8.Research Dive Exclusive Insights
6.Healthcare Staffing Market Analysis, by End User
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region, 2021-2031
6.2.3.Market share analysis, by country, 2021-2031
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region, 2021-2031
6.3.3.Market share analysis, by country, 2021-2031
6.4.1.Definition, key trends, growth factors, and opportunities
6.4.2.Market size analysis, by region, 2021-2031
6.5.Market share analysis, by country, 2021-2031
6.6.1.Definition, key trends, growth factors, and opportunities
6.6.2.Market size analysis, by region, 2021-2031
6.6.3.Market share analysis, by country, 2021-2031
6.7.Research Dive Exclusive Insights
7.Healthcare Staffing Market, by Region
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
7.1.4.Research Dive Exclusive Insights
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
7.2.6.Rest of Europe
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
7.2.7.Research Dive Exclusive Insights
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
7.3.6.Rest of Asia-Pacific
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
7.3.7.Research Dive Exclusive Insights
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
188.8.131.52.Market size analysis, by Type, 2021-2031
184.108.40.206.Market size analysis, by End User, 2021-2031
220.127.116.11.Market size analysis, by Type, 2021-2031
18.104.22.168.Market size analysis, by End User, 2021-2031
7.4.5.Rest of LAMEA
22.214.171.124.Market size analysis, by Type, 2021-2031
126.96.36.199.Market size analysis, by End User, 2021-2031
7.4.6.Research Dive Exclusive Insights
8.1.Top winning strategies, 2021
8.3.Market share analysis, 2021
10.1.7.Research dive analyst view
10.2.Envision Healthcare Corporation
10.2.7.Research dive analyst view
10.3.CHG Management, Inc.
10.3.7.Research dive analyst view
10.4.Maxim Healthcare Group
10.4.7.Research dive analyst view
10.5.Cross Country Healthcare, Inc.
10.5.7.Research dive analyst view
10.6.7.Research dive analyst view
10.7.7.Research dive analyst view
10.8.7.Research dive analyst view
10.9.7.Research dive analyst view
10.10.7.Research dive analyst view
Healthcare staffing basically entails offering a wide range of services like checking workers’ credentials, confirming licenses, conducting screening procedures, etc. for recruitment of healthcare professionals like nurses, technicians, administrators for medical institutions like hospitals, clinics, and care centers. In order to streamline this process, specialized healthcare staffing agencies have come up in the market which acts as an intermediary between the people seeking employment and the medical institutions. These agencies provide skilling and upskilling courses to the people which make them fit for the job they are looking for. The also provide workers’ credentials to people so that they formally enter the workforce. Additionally, the hospitals or other medical facilities don’t have to go around finding the right person for the job; rather they have to approach the healthcare staffing agency to fill in their staff vacancies.
Forecast Analysis of the Global Market
A growing need for flexible staff services has been felt by medical institutions across the world which is predicted to push the healthcare staffing market to register a huge growth in the forecast years, 2022-2031. Along with this, growing incidence of chronic ailments across the aging population is expected to boost the market further. Furthermore, rising number of healthcare institutions like hospitals and care centers is predicted to offer numerous growth opportunities to the market in the analysis timeframe. However, growing use of AI and robots in the healthcare industry may hamper the growth of the healthcare staffing market in the 2022-2031 timeframe.
Regionally, the healthcare staffing market in the North America region is expected to be the most profitable in the forecast period. Increasing aging population and advanced healthcare infrastructure across the whole region are expected to be the two main growth drivers of the market in this region.
As per a report by Research Dive, the global healthcare staffing market is expected to reach a revenue of $89,763.9 million in the 2022-2031 timeframe, thereby growing at a stunning CAGR of 8.9% by 2031. Some prominent market players include AMN Healthcare, Cross Country Healthcare, Inc., Teamhealth, Envision Healthcare Corporation, Trustaff, Adecco Group, CHG Management, Inc., Aya Healthcare, Locumtenens.Com, Maxim Healthcare Group, and many others.
Covid-19 Impact on the Market
The Covid-19 pandemic and the subsequent lockdowns have had a catastrophic impact on various businesses and markets worldwide. The healthcare staffing market, however, has been an exception. The pandemic period saw a huge number of patients being admitted in hospitals as the infection spread across the world. Hence, medical institutions and healthcare facilities faced a lot of stress and there was an acute shortage of manpower. In order to address this issue, there was an increase in healthcare staffing and recruitment which helped the market register positive growth numbers.
Significant Market Developments
The key players of the market are adopting various business strategies such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the healthcare staffing market to flourish. For instance:
- In September 2022, One Equity Partners, a private equity firm, announced that it was acquiring Prime Time Healthcare, a leading healthcare staffing service provider. This acquisition is predicted to increase the market share of the acquiring company, i.e., One Equity Partners in the coming period.
- In September 2022, Northwell Health, one of the largest healthcare providers in New York, announced that it was collaborating with Clinishift, an Irish software firm. This collaboration is aimed at addressing the staffing and schedule management issues faced by Northwell Health. The partnership is expected to help Northwell Health to streamline and optimize its operations.
- In November 2022, Medical Solutions, a leading provider of healthcare staff in the US, announced that it had acquired Host Healthcare, a San-Diego based healthcare staffing service provider. This acquisition is sure to place Medical Solutions in a leading position in the healthcare staffing market and increase its footprint in the industry.
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