Global Healthcare Staffing Market Report 2023: Market to Reach $56.9 Billion by 2028 with North America Dominating the Industry

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Jan 17, 2024, 13:45 ET

DUBLIN, Jan. 17, 2024 /PRNewswire/ -- The "Healthcare Staffing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global healthcare staffing market size reached US$ 39.2 Billion in 2022. Looking forward, the market is expected to reach US$ 56.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2022-2028

The increasing aging population, ongoing shortage of healthcare professionals, the rapid outbreak of COVID-19 pandemic, evolving nature of healthcare, specialized healthcare requirements and technological advancements are some of the major factors propelling the market.

The aging population and increased healthcare demands have resulted in a greater need for healthcare services. This has created a demand for healthcare professionals, leading to a rise in healthcare staffing. Additionally, the ongoing shortage of healthcare professionals, such as nurses and physicians, has contributed to the growth of the healthcare staffing market. Factors like retirement, career transitions, and geographic imbalances further results in shortage, prompting healthcare organizations to rely on staffing agencies to fill critical positions.

Other than this, the outbreak of coronavirus disease (COVID-19) pandemic has also played a significant role in driving the healthcare staffing market. The unprecedented demand for healthcare workers during the crisis has highlighted the importance of having a flexible and agile staffing model to address sudden surges in patient numbers and to maintain continuity of care.

Moreover, the evolving nature of healthcare, technological advancements, and specialized care requirements have created a demand for professionals with niche skills and expertise. Healthcare staffing agencies play a crucial role in sourcing these specialized professionals to meet specific needs.

North America exhibits a clear dominance in the market, accounting for the largest market share

North America drives the healthcare staffing market through its high demand for healthcare professionals, driven by factors such as an aging population, increased healthcare needs, and advancements in medical technology. The region's robust healthcare infrastructure, large healthcare organizations, and high healthcare expenditure contribute to the growth of the staffing market.

In Europe, the healthcare staffing market is driven by aging population, growing healthcare demands, and cross-border mobility of healthcare professionals. The region's emphasis on quality healthcare, universal healthcare systems, and government initiatives to address healthcare workforce shortages further fuel the demand for staffing solutions.

The Asia Pacific region drives the healthcare staffing market due to its population size, rapid urbanization, and economic growth. The region faces challenges such as a shortage of healthcare professionals, increasing healthcare demands, and a need to enhance healthcare infrastructure. This drives the demand for healthcare staffing services to meet the growing needs and provide quality healthcare services in the region.

Competitive Landscape:

The key players in the healthcare staffing market are actively investing in expanding their networks of healthcare professionals, leveraging technology for efficient recruitment and placement processes, and adopting innovative solutions to address staffing challenges. These players are establishing strategic partnerships with healthcare facilities, offering specialized staffing services, and providing comprehensive workforce management solutions.

They are also focusing on improving employee engagement, offering competitive compensation packages, and providing professional development opportunities. Moreover, key players are actively monitoring market trends, regulatory changes, and healthcare workforce dynamics to adapt their strategies and stay ahead in the competitive healthcare staffing market.

Healthcare Staffing Market Trends/Drivers:

Aging Population and Increased Healthcare Demand:

Growing aging population leads to increased demand for healthcare services.
Demand for healthcare professionals (physicians, nurses, caregivers) rises.
Healthcare organizations expand their workforce, driving demand for staffing services.
High turnover rate among healthcare professionals due to retirements necessitates recruitment of new staff.

Ongoing Shortage of Healthcare Professionals:

Simultaneous shortage of qualified healthcare professionals like nurses and physicians.
Shortage driven by retirements, career transitions, and geographic imbalances.
Healthcare organizations turn to staffing agencies to bridge the gap.
Healthcare staffing agencies recruit and place professionals to address shortages.

Outbreak of COVID-19 Pandemic:

Pandemic leads to unprecedented demand for healthcare workers.
Surges in patient numbers require more professionals.
Healthcare staffing services in high demand to fill critical positions.
Pandemic-induced burnout, illness, and quarantines worsen staffing shortages.
Flexible staffing models become crucial for quick responses and operational continuity.

Healthcare Staffing Industry Segmentation:

Market segmented by service type.
Travel nurse staffing is the largest segment.
Travel nurses are temporary professionals filling staffing gaps.
Per diem nurse staffing offers on-demand, flexible solutions.
Locum tenens staffing for temporary physician placements.
Allied healthcare staffing includes therapists and non-physician roles.

Global Expansion and Market Growth:

Healthcare staffing industry experiences global expansion.
Expansion driven by increasing healthcare demands worldwide.
Emerging markets in Asia-Pacific, Latin America, and the Middle East show significant growth.
Globalization of healthcare and medical tourism boost demand.

Technology and Digital Transformation:

Digital transformation in healthcare staffing.
Adoption of technology platforms and digital solutions.
AI and machine learning used for candidate matching.
Online platforms and mobile apps streamline recruitment and communication.

Role of Telehealth and Remote Work:

Telehealth and remote work impact staffing.
Telehealth offers virtual staffing opportunities.
Telehealth professionals provide remote care.
Flexibility for healthcare professionals to work remotely or alongside on-site roles.

Key Questions Answered in This Report

What was the size of the global healthcare staffing market in 2022?
What is the expected growth rate of the global healthcare staffing market during 2023-2028?
What are the key factors driving the global healthcare staffing market?
What has been the impact of COVID-19 on the global healthcare staffing market?
What is the breakup of the global healthcare staffing market based on the service type?
What are the key regions in the global healthcare staffing market?
Who are the key players/companies in the global healthcare staffing market?

Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Adecco Group
Amn Healthcare Services Inc.
CHG Management Inc.
Cross Country Healthcare Inc.
Envisions Healthcare Corporation (KKR & Co. Inc.)
LHC Group Inc.
LocumTenens.com (Jackson Healthcare LLC)
Maxim Healthcare Group
Syneos Health Inc.
TeamHealth

For more information about this report visit https://www.researchandmarkets.com/r/6hl5g3

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