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Healthcare Staffing Market - By Type (Travel Nurse Staffing, Per Diem Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing), By End-use (Healthcare Facilities, Biopharmaceutical Companies, Government Clients) & Global Forecast, 2023 – 2032
- Report ID: GMI5513
- Published Date: Mar 2023
- Report Format: PDF
Industry Statistics
Healthcare Staffing Market size was valued at over USD 55 billion in 2022 and is expected to grow at over 8.5% CAGR from 2023 to 2032. Driven by the increasing cases of chronic ailments from the world’s rising geriatric population.
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With age, chronic conditions combined with functional impairment elevate the need for supportive long-term medical care. As the global geriatric population pool expands, the chronic conditions that plague this demographic are also likely to rise, bolstering the need for more frequent hospitalizations, elevating the need for healthcare staffing and better medical care. As per the Association of American Medical Colleges, people in the age group 65 years and above account for 34% of the total physician demand, and by 2034, they will make up 42% of the demand in the U.S. alone.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 55 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.5% |
| 2032 Value Projection: | USD 131.5 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 193 |
| Segments covered: | Type, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Lack of skilled healthcare workers in emerging economies may constrain industry progression
Increasing shortage of medical nurses and workers in developing economies due to poor job satisfaction, is a major challenge to industry expansion. Countries such as India have a low doctor-to-population ratio of 1:1,511, which is far from the WHO recommended norm of 1:1,000. This, combined with the lack of supporting staff and a high patient population that could not afford treatment, exerts a heavy pressure on the region’s healthcare system, especially in rural areas, where the ratio is even lower.
Rising scope for seasonal staffing support to outline travel nurse staffing type segment landscape
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Based on type, healthcare staffing market size from travel nurse staffing segment is poised to record a valuation of over USD 64.5 billion by 2032. The segment experienced notable growth during the COVID-19 pandemic as nurses focused on seeking flexibility in their work, working in new places or specialities, and working for substantially higher pay as well. In fact, the demand for travel nurses increased more than 200% during that period as compared to pre-pandemic levels.
Growing occurrence of chronic conditions to impel healthcare facilities end-use segment share
Healthcare staffing market from healthcare facilities segment is anticipated to witness a valuation of over USD 80.5 billion by 2032. Rising occurrence of chronic ailments has bolstered patient footfall in hospitals and other medical facilities. Increasing patient admissions due to these conditions has elevated work burden, fostering the need for skilled healthcare professionals. As per credible sources, the annual turnover rate in ICUs, nursing homes, and emergency departments increased from 18% during pre-pandemic era to 30% in 2021, increasing the need for healthcare staffing.
Favorable healthcare policies to strengthen North America market outlook
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North America healthcare staffing market is expected to grow past the valuation of USD 69 billion by 2032, driven by the region’s favorable healthcare policies. Government agencies across the region are putting resources towards the consolidation of their healthcare infrastructure. In fact, back in July 2022, the U.S. government announced an investment of more than USD 40 billion in American Rescue Plan Investments, allocating over USD 7 billion funded by HHS programs to strengthen the health workforce.
Mergers and acquisitions to define the competitive landscape
Some prominent healthcare staffing market contenders include names such as CHG Management, Inc., Jackson Healthcare, AMN Healthcare, Maxim Healthcare Group, and Aya Healthcare, among others. Many of these companies are focusing on mergers and acquisition to enhance their industry position in a comparatively short amount of time. Citing an instance, in March 2023, Medical Solutions, a U.S.-based healthcare staffing firm, announced the acquisition of WorldWide HealthStaff Solutions, a leading provider of direct-hire international nurse and allied health recruitment services. This move helped the company broaden its portfolio while maximizing its revenue.
Impact of COVID-19 on healthcare staffing market trends
The COVID-19 pandemic had a positive impact on market as the high workload on healthcare system increased the demand for physicians, healthcare technicians, and medical workers. High staffing requirements birthed by the pandemic presented growth pathways to healthcare staffing firms. In fact, during the pandemic, the utilization of agency and temporary healthcare workers increased by 131% for part-time workers and 132% for full-time workers.
The healthcare staffing market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Type
- Travel Nurse Staffing
- Per Diem Nurse Staffing
- Locum Tenens Staffing
- Allied Healthcare Staffing
By End-use
- Healthcare facilities
- Biopharmaceutical companies
- Government clients
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Israel
- Egypt