Global Healthcare Staffing Market Size, Share, Production, Revenue, Growth and Forecast 2019-2027

The global healthcare staffing market size is estimated to Worth $47.15 Billion By 2027. The global healthcare staffing market size was valued at USD 29.86 billion in 2018. It is poised to register a CAGR of around 6.5% over the forecast period 2019 to 2027.

The ‘Healthcare Staffing Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ report provides analysis of the global healthcare staffing market for the period from 2016 to 2027, wherein 2019–2027 is the forecast period and 2018 is the base year. Data for 2017 has been included as historical information.

Rise in geriatric population has played a vital role in the growth of the market over the past few years. Geographical penetration of players through partnerships and rising awareness regarding benefits of contract staffing are likely to drive the market. Flexible schedules, travel opportunities, short-term assignments, and clinical experience at different locations are luring healthcare staff to work as locum tenens or travel nurses. Thus, increasing preference of staff to work temporarily is expected to further boost market growth.

Dearth of experienced staff and strong demand for healthcare services are anticipated to stimulate the growth of the market. Mergers and acquisition of companies and heightened adoption of workforce solutions in developed regions are also projected to work in favor of the overall market.

The global healthcare staffing market is likely to grow at healthy pace during the forecast period. This is mainly due to increasing participation of the medical professional to serve as locum. Such profession helps them get a better work life balance and allows them get a hands on experience on their desired skillset.

Apart from this, increase in number of healthcare unit, rise in pollution and growing budget in the healthcare industry are some other factors expected to drive the global healthcare staffing market.

According to WHO, there was a shortage of 7.2 million healthcare workers across the world in 2013. It is poised that this shortage will reach 12.9 million by 2035. Hence, increasing shortage of skilled staff coupled with surging demand for healthcare services is likely to augment the market in the coming years.

Influx of new players along with growing prominence of existing companies through mergers and acquisitions is one of the primary growth stimulants for the market. For instance, in August 2017, Novation Companies, Inc. acquired Healthcare Staffing, Inc. (HCS). HCS provides healthcare workers and has strong relationships with service providers in Georgia. Hence, the acquisition is expected to help in expanding Novation’s portfolio and geographical reach.

Healthcare staffing majorly refers to outsourcing of healthcare staff by third party vendors to the healthcare units. The facility helps healthcare units to avail staff without indulging into long recruitment process. Along with this, the facility also helps healthcare unit to focus on other important business aspects. The healthcare staffing is getting extreme popularity among hospitals, research centers and clinics. 

An upcoming report on global healthcare staffing market by Vision Research Reports is expected to offer an in depth analysis on industry. The report is anticipated to cover all the segments of healthcare staffing market.  Along with this, the report is anticipated to consists of vital data that will help indicating growth and latest trend in the global healthcare staffing market during the forecast period. 

Healthcare Staffing Market: Competitive Landscape

The global staffing market represent a fragmented landscape with the presence of large number of players. Some of the prominent players operating in the market are Adecco Group, AMN Healthcare, Almost Family, CHG Management, Inc., Envision Healthcare Corporation, Cross Country Healthcare, Inc. and Maxim Healthcare Services, Inc.

These players are adopting several strategies such as merger and acquisition, business expansion and collaboration to concretize their market position. For instance, in 2017, Envision Healthcare Holdings, Inc. merged with AmSurg Corporation. This merger has helped both the companies to strengthen their foothold in the healthcare staffing market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global healthcare staffing market report based on service and region:

• Service Outlook (Revenue, USD Million, 2014 - 2027)

  • Travel Nurse

  • Per Diem Nurse

  • Locum Tenens

  • Allied Healthcare

• Regional Outlook (Revenue, USD Million, 2014 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

Service Insights

By service, the market has been segmented into travel nurse, per diem nurse, locum tenens, and allied healthcare. In 2018, the allied healthcare segment accounted for the leading revenue share in the market. However, locum tenens is estimated to post the fastest CAGR during the forecast period.

Allied healthcare consists of occupational therapists, physical therapists, medical technologists, respiratory therapists, pharmacists, and phlebotomists. Shortage of professionals in developed economies, rising geriatric population, and growing demand due to unhealthy lifestyle are anticipated to contribute to the growth of the segment.

In January 2017, the Indian government redrafted the bill for regulating allied healthcare services. It is projected to bring it under the ambit of a national regulator. The Union Health Ministry of India redrafted the Allied and Healthcare Council Bill aiming at regulating more than 50 types of allied and healthcare professionals. Furthermore, it is poised to set standards for their education and practices. These will affect 40.2% of the overall healthcare professionals and is likely to increase their shortage in India.

Preference of physicians to work as locum tenens and cost-efficiency for employers are some of the factors responsible for the growth of the segment. According to a survey by Staff Care, an AMN Healthcare company, it was observed that the number of physicians working as locum tenens is continually increasing.

Regional Insights

North America dominated the global healthcare staffing market in 2018. This can be attributed to increasing geriatric population, lack of skilled professionals as compared to demand, and local presence of major players.

Strategic initiatives by market players such as mergers, acquisitions, and collaborations to increase their network and thereby, penetration is expected to propel the market in the region during the forecast period. For instance, in April 2016, Advance Medical acquired Rise Medical Staffing, a provider of travel nurse staffing services. The acquisition is estimated to increase Advance Medical’s foothold in hospital settings and create an opportunity to expand its travel nursing division.

Europe also held a sizeable share in the market in 2018. Germany, France, and the U.K. were the major contributing countries in the same year. Shortage of doctors, mergers and acquisitions of companies, and improving economic conditions are anticipated to boost the growth of the market in the coming years.

Asia Pacific is projected to witness the fastest growth during the forecast period as the demand for contract staffing is on rise in emerging countries. This can be attributed to the fact that employment of contract staffing does not involve liabilities normally associated with permanent staff, the recruitment process is faster, and one can choose from a larger pool.

The study is a source of reliable data on:

• Market segments and sub-segments
• Market trends and dynamics
• Supply and demand
• Market size
• Current trends/opportunities/challenges
• Competitive landscape
• Technological breakthroughs
• Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market