Twopip Research

Healthcare Staffing Global Market Report 2024

The healthcare staffing market has grown strongly in recent years. It will grow from $43.21 billion in 2023 to $46.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The expansion observed in the historical period can be attributed to shortages in the healthcare workforce, the demand for temporary and flexible staffing solutions, specific skill requirements in the industry, adherence to government regulations and compliance standards, and a heightened focus on cost-efficiency.The healthcare staffing market is expected to see strong growth in the next few years. It will grow to $62.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to an increased emphasis on mental health services, a rise in home healthcare services, initiatives promoting diversity and inclusion, government investments in healthcare, and a commitment to public health preparedness. Key trends expected in the forecast period encompass the emergence of innovative platforms, increased collaborations and partnerships, strategic investments, and the adoption of technological solutions.The healthcare staffing market is poised for growth due to the escalating shortage of healthcare staff. Healthcare staff, including medical students, frontline carers, and other professionals in healthcare and social care settings, are essential for preventive care, condition assessment, diagnosis, and treatment. Recent years have seen a decline in healthcare staff in many global hospitals. Providertech LLC reported in February 2022 that around 16 percent of hospitals faced serious staffing shortages as of October 2021. The projected shortage of 3.2 million healthcare workers in the United States by 2026 underscores the urgent need for staffing solutions, driving the growth of the healthcare staffing market.The healthcare staffing market is also expected to witness growth propelled by the increasing prevalence of chronic diseases. Chronic diseases, lasting three months or more and worsening over time, necessitate ongoing care and specialized expertise. Healthcare facilities grapple with rising patient loads and diverse care settings, creating a demand for a dynamic healthcare workforce. Healthcare staffing agencies play a crucial role in providing flexible staffing solutions for hospitals, clinics, and home healthcare, ensuring access to skilled professionals. The National Center for Biotechnology Information (NCBI) reported in January 2023 that the global number of people with chronic diseases is projected to reach 142.66 million by 2050, up from 71.522 million in 2020, further driving the growth of the healthcare staffing market.Technological advancements are a prominent trend in the healthcare staffing market, with companies adopting new technologies to sustain their market position. For example, StaffHealth.com launched the 'NurseShifts' application technology in May 2022. This app facilitates quick connections and communication between nurses, recruiters, and healthcare facilities, streamlining onboarding and job invitation processes. The app also provides notifications for job opportunities based on nurses' backgrounds, regions, and availability.Major players in the healthcare staffing market are developing tools for flexible staffing pools, ensuring adaptability in the workforce. Flexible staffing pools involve maintaining a pool of employees available to work on a flexible basis. In August 2023, CareRev launched a workforce management tool to address ongoing healthcare workforce challenges. This tool allows health systems to build flexible staffing pools by leveraging their existing in-house workforce, providing a solution to nurse shortages, retention issues, and clinician burnout. With features such as AI-based shift pricing and in-app communications, CareRev's platform offers health systems efficient and real-time management of their flexible staffing resources.In June 2021, Cross Country Healthcare Inc. acquired Workforce Solutions Group Inc. for $25 million in cash and $5 million in shares. This strategic acquisition enhances Cross Country Healthcare's presence in the home care industry, allowing them to play a crucial role in providing essential care for the aging population. Workforce Solutions Group Inc., a healthcare employment agency platform, contributes cutting-edge solutions for understanding staffing demands, developing existing personnel, and attracting and retaining new talent.Major companies operating in the healthcare staffing market report are Envision Healthcare Corporation, AMN Healthcare Holdings Inc., CHG Healthcare Services Inc., Maxim Healthcare Group Inc., Cross Country Healthcare Inc., Aya Healthcare Inc., Adecco Group AG, Trustaff Inc., TeamHealth Holdings Inc., LocumTenens.com LLC, Jackson Healthcare LLC, Favorite Healthcare Staffing Inc., Medical Solutions LLC, inVentiv Health Inc., Syneos Health Inc., Aureus Medical Group LLC, CompHealth LLC, CoreMedical Group LLC, CrossMed Healthcare Staffing Solutions LLC, Emerald Health Services LLC, Health Carousel LLC, HealthTrust Workforce Solutions LLC, KPG Healthcare LLC, MAS Medical Staffing LLC, MedPro Healthcare Staffing LLC, MedStaff Healthcare Solutions LLC, Next Travel Nursing LLC, NurseFly LLC, Onward Healthcare LLC, ProLink Healthcare LLC, Provenir Healthcare LLC, Randstad Healthcare LLC, RNnetwork LLC, Soliant Health LLC, Supplemental Health Care LLC.North America was the largest region in the healthcare staffing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global healthcare staffing market during the forecast period. The regions covered in the healthcare staffing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare staffing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.The primary services within healthcare staffing include travel nurse staffing, per diem nurse staffing, locum tenens staffing, and allied healthcare staffing. A travel nurse is a registered nurse with clinical experience who works in a temporary or contract nursing position. Unsuch as being employed by a single facility, travel nurses are often hired through independent nursing staffing services. Healthcare staffing encompasses various roles, including patient care staff, administrative staff, support staff, technicians, and allied health professionals providing services to hospitals, pharmaceutical companies, clients, and government agencies.The healthcare staffing market research report provides healthcare staffing market statistics, including healthcare staffing industry global market size, regional shares, competitors with an healthcare staffing market share, detailed healthcare staffing market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare staffing industry. This healthcare staffing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.The healthcare staffing market includes revenues earned by entities by the selection of qualified candidates, the use of technology to check the credentials of candidates and employees, the validation of skills, and any other screening procedures. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.This product will be delivered within 3-5 business days.