Rise in the prevalence of chronic diseases and increased demand for healthcare employment worldwide drive the growth of the global healthcare staffing market.
PORTLAND, Ore., March 2, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Healthcare Staffing Market by Type (Allied Healthcare Staffing, Per Diem Nurse Staffing, Travel Nursing, Locum Tenens Staffing), by End-user (Hospitals, Clinics, Clients, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global healthcare staffing industry was estimated at $40.1 billion in 2021, and is anticipated to hit $89.8 billion by 2031, registering a CAGR of 8.9% from 2022 to 2031.
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Drivers, restraints, and opportunities
Rise in the prevalence of chronic diseases and increased demand for healthcare employment worldwide drive the growth of the global healthcare staffing market. On the other hand, lack of job security and high salary of competent healthcare service providers impede the growth to some extent. However, rising number of healthcare & nursing institutions and improved staffing practices in the sector are expected to pave the way for lucrative opportunities for the key players.
Impact of Covid-19 on Healthcare Staffing Market
The Covid-19 virus affects the elderly the most since they have weakened immunity.
During the pandemic, there was a greater demand for healthcare staffing in hospitals to provide effective patient care as admission rates in nursing homes experienced a steep incline. This factor had a positive impact on the global healthcare staffing market.
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The allied healthcare staffing segment to retain its dominance by 2031-
By type, the allied healthcare staffing segment accounted for more than one-fourth of the global healthcare staffing market revenue in 2021, and is expected to rule the roost by 2031. This is attributed to the fact that allied healthcare professionals operate in healthcare facilities primarily to maintain the operation of the healthcare system by providing technical, diagnostic, therapeutic, and support services. The locum tenens staffing segment, simultaneously, would showcase the fastest CAGR of 9.3% during the forecast period.
The hospitals segment to rule the roost-
By end-user, the hospitals segment garnered the major share in 2021, generating more than one-third of the global healthcare staffing market revenue. This is due to the rise in the use of healthcare staffing for providing healthcare-related services such as patient care in hospitals. The clients segment, on the other hand, would portray the fastest CAGR of 10.2% throughout the forecast period.
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North America garnered the major share in 2021 –
By region, North America contributed to the highest share in 2021, garnering more than half of the global healthcare staffing market revenue, and is expected to rule the roost throughout the forecast period. Surge in the geriatric population, improved healthcare infrastructure, and effective government legislation across the region drive the market growth. Asia-Pacific, at the same time, would display the fastest CAGR of 11.7% from 2022 to 2031. Increase in demand for healthcare staff in the province fuels the growth of the market.
Key players in the industry-
Envision Healthcare Corporation
CHG Management, Inc.
Maxim Healthcare Group
Cross Country Healthcare, Inc.
The report analyzes these key players in the global healthcare staffing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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