by In healthcare industry, staffing plays a crucial role in meeting fluctuating demand and responding to emergencies. Healthcare staffing involves providing qualified doctors, nurses and other healthcare professionals to various healthcare organizations on temporary or contracted basis. This helps hospitals and other healthcare facilities to address their staffing needs in a cost effective manner without incurring expenses related to regular full-time employees. With growing geriatric population and their medical needs, demand for different healthcare services has increased tremendously. However, shortage of qualified healthcare professionals like doctors and nurses across major nations continues to hamper access to quality healthcare.
The global Healthcare Staffing Market is estimated to be valued at US$ 39.52 Billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for nurses is one of the key trends driving the healthcare staffing market growth. According to the projections by World Health Organization (WHO), the world will face a shortage of 12 million nurses by 2030. Factors such as aging population requiring long term care and higher burden of chronic diseases are contributing to the growing nurse shortage across the globe. Healthcare staffing agencies are trying to address this huge demand and nurse deficit by recruiting nurses from other countries and providing them placement and training in countries facing shortages. This cross-border movement of nurses is a significant trend in healthcare staffing market.
SWOT Analysis
Strength: Healthcare staffing provides qualified medical professionals to healthcare facilities on demand. This helps address shortage issues.
Weakness: High staff turnover rates in healthcare staffing agencies increases costs. Reliance on third party vendors also reduces control over quality.
Opportunity: Ageing population and rise of chronic diseases is increasing demand for healthcare services. This drives the need for flexible staffing solutions.
Threats: Economic downturns may force hospitals to reduce costs by hiring permanent staff instead of outsourcing. Stringent regulations in some countries pose compliance challenges.
Key Takeaways
The Global Healthcare Staffing Market Size is expected to witness high growth. The global Healthcare Staffing Market is estimated to be valued at US$ 39.52 Billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
The North American region currently dominates the global market due to rapid growth in healthcare expenditure and rising focus on quality care. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to expansion of healthcare infrastructure and focus on providing universal healthcare in developing countries.
Key players
Key players operating in the Healthcare Staffing market are Adecco, AMN Healthcare, CHG Management, Cross Country Healthcare, Maxim Healthcare Services, and UF.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
