Healthcare Staffing Market Rising at a Steady CAGR of 5.1% by 2027

Healthcare staffing is referred to as a firm, services person, partnerships, corporations, and other business entities that is engaged in offering nursing personnel to healthcare agencies or to an individual in order to render temporary nursing services. Healthcare providers are pursuing responses to deal the regulatory upheaval, rising physician shortage, constricted nurse staffing levels and several technology challenges. Healthcare is one of the most regulated sectors, thus, staffing organizations require flawless management and organization to deal several credentialing and compliance necessities required for operating in this industry. Factors such as travel opportunities, flexible schedules, and clinical experience across several locations are influencing locum tenens and travel nurses to opt for a career in the healthcare staffing field. In 2013, World Health Organization (WHO) reported that, there was a shortage of around 7.2 million healthcare staff globally, and is estimated to touch 12.9 million by the end of 2035. These factors are expected to open new avenues for industry growth.

As per Precedence Research, the healthcare staffing market size was US$ 30.3 billion in 2020. It is projected to grow US$ 48.3 billion by 2027 at a CAGR of 5.1% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global healthcare staffing market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of this global market. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global healthcare staffing market for the period from 2016 to 2027.

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Growth Factors

Growing geriatric population has increased several concerns such as shortage of nurses and other working staff in hospitals and also an increase in demand for healthcare facilities. Thus, temporary healthcare staffing is gaining traction across several hospitals globally due to its cost-effective attribute, thereby expected to witness a positive impact on market growth over the forecast period. Healthcare firms are coming across the diverse challenges such as meeting high revenue rates and increasing patient contentment rates. Approach for searching proficient staff is emerging to address the requirements of a new generation of nurses.

The advent of new technologies is playing a vital role to increase healthcare employment which is anticipated to fuel the healthcare staffing market growth during the projected period. Technological advancement has led to innovations in services including telehealth and informatics which have driven the need for skilled working staff in order hand both technical as well as non-technical operations.

Report Highlights

• Locum tenens segment is projected to expand with fastest CAGR over the forecast period due to cost reduction offered by temporary employees hiring and growing physicians’ preference for working as locum tenens.
• In 2019, allied healthcare segment held the largest market share in terms of revenue. It comprises physical therapists, occupational therapists, pharmacists, respiratory therapists, phlebotomists, and medical technologists.
• The major players are adopting several marketing strategies such as collaborations, mergers, and acquisitions to gain maximum market share and expand their geographical presence.
• Hospital leaders are also taking several important initiatives to overcome frontline staff shortage in current pandemic situations which is expected to propel the market growth.
• In 2019, HNI Healthcare, Inc. announced acquisition of Martin Healthcare Group which is private company operated across the Midwest and Florida in order to spread its business across U.S. Midwest region.
• Some of the prominent players operating in this market are AMN Healthcare; Adecco Group; Envision Healthcare Corporation; CHG Management, Inc.; inVentiv Health; Cross Country Healthcare, Inc.; TeamHealth; Almost Family; and Maxim Healthcare Services, Inc.

Regional Snapshots

North America dominated the global healthcare staffing market and accounted for the largest market share, in 2019. Lack of skilled staff as compared to the need, growing geriatric population, and the existence of key market players are major factors responsible for regional market growth. In this region, key players are adopting some strategic initiatives like mergers, acquisitions, and collaborations to expand their geographical reach and services portfolio. Therefore, growing market penetration is expected to surge the regional market growth during the forecast period.

Asia Pacific is expected to grow with the fastest CAGR from 2020 to 2027. This growth is attributed to rising demand for contract staffing, and growing investments by market players along with promising economic outlook. Several benefits of contract staffing such as no liabilities that are generally occurred by permanent staffing have led to an increase in demand for contract staffing in this region.

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The healthcare staffing report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Top Players contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in global fruit preparation for dairy market are as follows:

• CHG Management, Inc.
• AMN Healthcare
• Almost Family
• Envision Healthcare Corporation
• inVentiv Health
• TeamHealth
• Maxim Healthcare Services, Inc.
• Cross Country Healthcare, Inc.

The healthcare staffing market is highly competitive in nature owing to the presence of a large number of market players. Therefore, market players are focusing on adopting several strategies such as mergers & acquisitions, and collaborations in order to sustain in a competitive market. For example, TeamHealth acquired Emergency Medicine Consultants (EMC), an emergency medical staff provider, in 2018. This initiative will help the TeamHealth to add EMC’s 330 physicians and 80 advanced practice clinicians

Segments Covered in the Report

This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying global healthcare staffing market report on the basis of different parameters including service type and region as follows:

By Service Type

• Travel Nurse Staffing
• Per Diem Nurse Staffing
• Locum Tenens Staffing
• Allied Healthcare Staffing

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
• Asia Pacific
  • China
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa

Why should you invest in this report?

If you are aiming to enter the global healthcare staffing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for healthcare staffing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Some of the key highlights covered in the report include:

• Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global healthcare staffing market. It examines trends and factors influencing demand for healthcare staffing globally and gauges the impact of the same on the production.
• Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
• Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
• Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for healthcare staffing across the world.
• Competitive Analysis – Some of the leading market players are profiled in the report on healthcare staffing. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

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