by The Healthcare Staffing Market comprises various workers such as physicians, nurses, pharmacists, healthcare executives, and administrative medical staff who help in providing healthcare services. Healthcare staffing provides temporary or permanent staffing services for hospitals, clinics, nursing care facilities, home healthcare providers, and sometimes pharmaceutical companies. There has been a rise in health problems among aging populations and an increase in the prevalence of chronic diseases. This is raising demand for medical care services including home healthcare facilities.
The global Healthcare Staffing Market is estimated to be valued at US$ 45.53 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing demand for home healthcare services: With the rising prevalence of chronic diseases and an aging population, there is an increasing need to treat and care for patients outside of hospitals. Home healthcare services help in reducing the costs of medical treatment and hospital stays. This is creating demand for healthcare workers to provide in-home medical care and nursing services.
Rising healthcare spending: Globally, healthcare spending is continually rising due to the increasing affordability and accessibility to healthcare facilities. Higher healthcare budgets allow for more recruitment of healthcare staff for hospitals, clinics, and other medical facilities to meet growing patient needs. This drives the market growth of healthcare staffing.
Segment Analysis
The Healthcare Staffing Market can be segmented based on type into allied healthcare, nurses, physicians, and healthcare executives. The nurses segment is dominating the market as there is high demand for nurses due to the increase in the aging population globally. Nurses form an important part of the patient care cycle in hospitals and other healthcare facilities.
PEST Analysis
Political: Governments across countries are imposing regulations to improve safety, quality of healthcare services and working conditions of staffs. This is positively impacting the market.
Economic: Growing healthcare expenditure driven by increasing income levels is driving the market growth. However, high turnover rates among nurses increase operational costs for healthcare facilities.
Social: Growing prevalence of chronic diseases and aging population is increasing the demand for quality healthcare services. This is fueling the staffing needs across various healthcare organizations.
Technological: Adoption of telehealth and telemedicine is creating new opportunities for healthcare staffing companies. Advanced technologies help address staff shortages in rural areas.
Key Takeaways
Global Healthcare Staffing Market Size is expected to witness high growth over the forecast period of 2024 to 2030. The market size for 2024 is estimated to be US$ 45.53 Mn.
Regional analysis: North America region is currently dominating the market due to advanced healthcare infrastructure and increasing healthcare expenditure in the region. Countries like the US and Canada are the major markets.
Key players: Key players operating in the Healthcare Staffing Market are UFP Technologies, Inc., ESCO Technologies Inc., who are focused on expanding their geographic presence through mergers and acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
