April 16, 2024
Healthcare Staffing Market

Propelled By Growing Need For Quality Healthcare Professionals The Global Healthcare Staffing Market Is Estimated To Be Valued At US$ 39.52 Bn In 2023

The global healthcare staffing market encompasses a wide variety of healthcare professionals including physicians, pharmacists, nurses, and paramedics. These professionals play an important role in providing quality healthcare services across various settings such as hospitals, outpatient clinics, long-term care facilities, and home care. The demand for healthcare staffing has increased in recent years driven by the growing disease burden worldwide and shortage of permanent healthcare workers especially in rural areas.

The global healthcare staffing market is estimated to be valued at US$ 39.52 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends: Growing need for quality healthcare has been a key driver for the increased demand for temporary and contract healthcare staffing solutions. Factors such as aging population needing more medical attention, increasing cases of chronic diseases, and shortage of skilled professionals especially in underserved communities have contributed to this trend. Staffing agencies recruit skilled nurses, therapists and other medical professionals and deploy them as per requirement across different facilities aiding hospitals and clinics to improve access to care. This has propelled growth of the healthcare staffing market over the past few years.

SWOT Analysis

Strength: Healthcare staffing helps address growing doctor and nurse shortage issues across the globe by providing on-demand temporary medical staff. It offers flexible workforce solutions to healthcare facilities.

Weakness: Retaining skilled medical staff on a long-term basis can be challenging for staffing agencies due to competition from direct employers. High turnover rates affect business stability.

Opportunity: Rapid expansion of healthcare infrastructure in developing nations boosts demand for skilled doctors, nurses and other medical staff on contract basis. Growth of telemedicine opens new opportunities.

Threats: Strict regulations in some countries governing temporary healthcare staffing pose compliance challenges. Economic slowdowns impact staffing company revenues.

Key Takeaways

The Global Healthcare Staffing Market Size is expected to witness high growth. Regional analysis comprises Regional analysis related content

The North American healthcare staffing market holds the largest share and is expected to maintain its dominance over the forecast period. This can be attributed to factors such as the presence of major players, growing geriatric population, and high demand for affordable healthcare solutions in the region. The Asia Pacific market is anticipated to grow at the fastest pace owing to improving healthcare infrastructure and rising medical tourism in countries such as India, China, and Singapore.

Key players

Key players operating in the Healthcare Staffing Market are LocumTenens.com, Adecco Group, TeamHealth, Trustaff, Aya Healthcare, Maxim Healthcare Group, CGM Management, Inc., AMN Healthcare, Cross Country Healthcare, Inc., and Envision Healthcare Corporation. These players are focusing on new service launches and collaborations to expand their market presence. For instance, AMN Healthcare acquired Stratus Video in 2019 to expand its telehealth capabilities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it