May 18, 2024

Temporary Healthcare Staffing is Estimated to Witness High Growth Owing to Advancement in Digital Staffing Technologies

The temporary healthcare staffing market involves providing trained medical staff on a temporary or short-term basis to hospitals and other healthcare centers. This helps them to address the issues of staffing shortage and provide seamless medical assistance to patients. Temporary healthcare staffing includes locums doctors, traveling nurses, allied health professionals, and other medical staff. It offers flexible staffing solutions and helps healthcare facilities maintain quality care during vacations, maternity leaves, sick leaves, or overflow conditions. The temporary healthcare staffing model reduces overhead costs for healthcare providers as staffing needs can vary. Advancements in digital staffing technologies allow automated sourcing and matching of medical professionals for temporary assignments.

The Global Temporary Healthcare Staffing Market Size is estimated to be valued at US$ 58.01 BN in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the temporary healthcare staffing are SOLIANT HEALTH, Envision Healthcare, Maxim Healthcare Services, CHG Management, Inc., Cross Country Healthcare, TeamHealth, Jackson Healthcare, Aureus Medical, LocumTenens, Trustaff, Aya Healthcare, Vibra Healthcare, Ample Healthcare, Acacium Group, SnapNurse, and AMN Healthcare.

The key opportunities in the market include addressing shortage of trained healthcare professionals globally and growing demand for healthcare services due to aging population. Advancements in digital staffing technologies allow on-demand matching of clinicians with assignments as per their skills, experience, and availability through mobile apps.

Market Drivers
The growing demand for healthcare services due to a rapidly aging population is a key driver for the temporary healthcare staffing market. As per the UN World Population Prospects report 2019, the share of global population aged over 60 years is projected to double from 12% to 22% between 2015 and 2050. The shortage of trained healthcare professionals like doctors, nurses, and allied health staff also fuels demand for temporary staffing solutions. Advancements in digital staffing technologies that facilitate automated matching are also supporting market growth.

Current Challenges in Temporary Healthcare Staffing Market
The temporary healthcare staffing market is facing challenges due to the COVID-19 pandemic. The sudden demand for healthcare workers across the globe overwhelmed hospitals and healthcare facilities. Finding and retaining skilled medical staff became extremely difficult during the peak of the pandemic. Other ongoing challenges include shortage of nurses worldwide, competition to attract and retain talent, compliance with legal and regulatory requirements, technology integration issues, lack of skilled workforce in rural areas.

SWOT Analysis

Strength: Ability to fulfill sudden staffing needs of healthcare facilities; provide skilled talents on temporary/contractual basis.
Weakness: High attrition rate; dependency on demand fluctuations; compliance management issues.
Opportunity: Growing geriatric population driving demand for home healthcare; shortage of nurses worldwide offers market opportunities.
Threats: Economic slowdowns impacting staffing demand; healthcare reforms and regulations; competition from technology players offering virtual healthcare services.

Geographical Regions
In terms of value, North America holds the major share of the temporary healthcare staffing market currently. This is due to factors such as advanced healthcare infrastructure, presence of large number of healthcare facilities, and high demand for skilled clinical staff. Asia Pacific is expected to be the fastest growing regional market during the forecast period owing to rapidly increasing healthcare expenditure, shortage of medical professionals, and expansion of healthcare systems in developing countries.

The temporary healthcare staffing market is concentrated in the United States currently, accounting for over 50% of the global market value. Other major countries include Japan, Germany, United Kingdom and China. The United States is also projected to remain the largest and fastest growing country market for temporary healthcare staffing through 2031.

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