Healthcare Staffing Market Overview
Healthcare Staffing Market size is projected to reach $120.3 million by 2026, growing at a CAGR of 5.1% over 2021-2026. Healthcare staffing is a kind of recruitment agency that improves the satisfaction of patients by appointing skilled and qualified healthcare workers. In hospitals and various healthcare sector, the need of healthcare staffing increases as healthcare staffing agencies helps to recruit a lot of expert staff in order to look for client requirements. The work of healthcare staffing are distributed into four categories that include travel nursing, per-diem nursing, locum tenens staffing physicians, and allied healthcare services. In order to rising the need of healthcare professional in various healthcare sector the need of healthcare staffing services increases owing to its quality recruitment of workers that also helps to develop the healthcare industry. Healthcare staffing provides quicker process of recruitment that increases the range of candidates in order to manage the requirements of clients. Growing geriatric population worldwide and lack of healthcare workers in the healthcare industry is the major factor driving the growth of Healthcare Staffing Market. Furthermore, rising advancement in the healthcare industry and growing adoption of healthcare staffing in hospitals, clinics and various other healthcare industries is set to further enhance the overall market demand for Healthcare Staffing Market for the period 2021-2026.
The report: “Healthcare Staffing Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Healthcare Staffing Market.
By Service: Travel Nurse, Locum Tenens, Allied Healthcare, and Per Diem Nurse
By End-User: Hospitals, Nursing Homes, Clinics and Others
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)
- In 2020, North America dominated the Healthcare Staffing Market owing to rising well-developed healthcare infrastructure that is rising the availability of healthcare staffing facilities. Moreover, the growing need of improvising the healthcare candidate the adoption of healthcare staffing rises which in turn enhancing the growth of Healthcare Staffing Market.
- Growing geriatric population worldwide and lack of healthcare workers in the healthcare industry are enhancing the growth of the Healthcare Staffing Market.
- The prominent manufacturers operating in the market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Healthcare Staffing Market report.
- Rising hectic workloads among healthcare staffing agencies reduces the quality of recruiting is set to create hurdles for the Healthcare Staffing Market.
Healthcare Staffing Market Size, By End-User 2020-2026 (USD Million)
Healthcare Staffing Market Segment Analysis – By Service
The Healthcare Staffing Market based on Services can be further distributed into Travel Nurse, Locum Tenens, Allied Healthcare, and Per Diem Nurse. The Travel Nurse segment is the major segment generating revenue in 2020. This is mainly owing to the rising need of short term staffing in healthcare services rising the adoption of travel nurse as they provide proper nursing to patients that need nursing for less time. Moreover, travel nurse helps to look large number of patients and also reduce time wastage as they are not wasting their time by providing the nursing to only one patients who needs short term staffing. The Locum Tenens segment is estimated to register the fastest CAGR of 5.5% for the period 2021-2026. This is mainly owing to its cost effective services and large number of experiences that provides faith among clients. Moreover, rising unavailability of physicians in various healthcare industries the need of temporary physician increases that rising the recruitment of locum tenens and further propelling the growth of Healthcare Staffing Market.
Healthcare Staffing Market Segment Analysis – By End-User
The Healthcare Staffing Market based on End-User can be further segmented into Hospitals, Nursing Homes, Clinics and Others. The Hospitals segment registers for the highest Healthcare Staffing Market share in 2020. This is mainly owing to the fact that large number of patients are admitted in hospitals for proper treatment that needs more nursing candidates and various skilled professional. So, healthcare staffing are adopting more in hospitals in order to increase the skilled candidates for proper nursing. Moreover, rising number of hospitals increases the need of more healthcare professional which in turn growing the adoption of healthcare staffing. The Nursing Homes segment is forecasted to register the fastest CAGR of 6.1% over 2021-2026. Nursing homes is very important sector in the healthcare industry that provides more quality of care for nursing. Moreover, many patients are adopting nursing homes owing to inability to move. So, various healthcare nurses are needed for the patients which in turn propelling the growth of Healthcare Staffing Market.
Healthcare Staffing Market Segment Analysis – By Geography
North America dominated the Healthcare Staffing Market with major share of 45% in 2020. This is owing to rising well-developed healthcare infrastructure that rising the availability of healthcare staffing facilities. Moreover, growing need of improvising the healthcare candidate the adoption of healthcare staffing rises which in turn enhancing the growth of Healthcare Staffing Market. In U.S., various healthcare facilities are adopting locum tenens in order to rising the number of physicians in hospitals that increases the adoption of healthcare staffing.
However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to growing adoption of healthcare staffing for faster recruitment process that helps healthcare sector to provide a nursing facilities to patients. In India, the governments are focusing on regulating allied health care services that helps to improve the practices of healthcare professional.
Healthcare Staffing Market Drivers
Growing Geriatric Population Worldwide
Rising geriatric population increases the prevalence of various diseases that is rising the need of skilled professional for nursing which in turn increases the growth of Healthcare Staffing Market. According to World Health Organization, about 125 million people are above 65 years aged which increases the demand of nursing for the proper care of patients that further rising the need of healthcare staffing and therefore rising the growth of the Healthcare Staffing Market over the period 2021-2026.
Lack of Healthcare Workers
In various healthcare sector, the availability of skilled professional decreases that causes various issues in healthcare sector which rising the need of healthcare staffing. Moreover, rising need of high skilled and experienced workers in hospitals and other healthcare sector decreases the number of healthcare workers that rising the need of adopting health staffing which in turn boosting the growth of Healthcare Staffing Market over the period 2021-2026.
COVID-19 pandemic had greatly impacted the growth of Healthcare Staffing Market. During pandemic, there is a need of many healthcare worker for the nursing of people suffering from coronavirus infections. So, large number of workers are recruited for the nursing of COVID-19 patients which are positively impacted the growth of Healthcare Staffing Market.
Healthcare Staffing Market Challenges
Rising Hectic Workloads Among Healthcare Staffing Agencies
The factors that are set to impede the growth of the Healthcare Staffing Market are rising hectic workloads among healthcare staffing agencies reduces the quality of recruiting which is set to restrain the growth of Healthcare Staffing Market.
Healthcare Staffing Market Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Healthcare Staffing Market. Healthcare Staffing top 10 companies are AMN Healthcare; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; Maxim Healthcare Services, Inc.; TeamHealth; CHG Management, Inc. and Adecco Group.
Healthcare Staffing Market Development
- In 2019, CHG acquired Modio Health for the development of healthcare providers by increasing the process of healthcare staffing.