Healthcare Staffing Market Value is Projected to Reach Close to $ 48.3 Bn by 2027

Precedence Research Recently published a report on “Healthcare Staffing Market (By Service Type: Travel Nurse, Locum Tenens, Per Diem Nurse, Allied Healthcare) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, the global market for healthcare staffing estimated at US$ 30.3 Billion in the year 2019, is projected to reach a revised size of US$ 48.3 Billion by 2027, rising at a market growth of 5.1% CAGR from 2020 to 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.

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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.

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.

Key Players & Strategies

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

The key players included in this market are Maxim Healthcare Services, Almost Family, Cross Country Healthcare, Inc., Adecco Group, AMN Healthcare; Envision Healthcare Corporation, TeamHealth, CHG Management, Inc. and inVentiv Health.

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.

Market Segmentation

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

Key Takeaways

• Comprehensive analysis of the healthcare staffing market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global healthcare staffing market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Healthcare Staffing Market, By Service

7.1. Healthcare Staffing Market, by Service Type, 2020-2027
7.1.1. Travel Nurse Staffing
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Per Diem Nurse Staffing
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Locum Tenens Staffing
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Allied Healthcare Staffing
7.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Healthcare Staffing Market, Regional Estimates and Trend Forecast

8.1. North America
8.1.1. Market Revenue and Forecast, by Service (2016-2027)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Service (2016-2027)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Service (2016-2027)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Service (2016-2027)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Service (2016-2027)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Service (2016-2027)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Service (2016-2027)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Service (2016-2027)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Service (2016-2027)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Service (2016-2027)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Service (2016-2027)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Service (2016-2027)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Service (2016-2027)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Service (2016-2027)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Service (2016-2027)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Service (2016-2027)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Service (2016-2027)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Service (2016-2027)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Service (2016-2027)

Chapter 9. Company Profiles

9.1. CHG Management, Inc.
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. AMN Healthcare
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Almost Family
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Envision Healthcare Corporation
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. inVentiv Health
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. TeamHealth
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Maxim Healthcare Services, Inc.
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Cross Country Healthcare, Inc.
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives

Chapter 10. Research Methodology

10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions

Chapter 11. Appendix

11.1. About Us
11.2. Glossary of Terms

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