The U.S. healthcare staffing market comprises companies that provide temporary healthcare staff to various organizations such as hospitals, long-term care facilities, physician practices, and others. Some of the commonly outsourced staff include physicians, registered nurses, licensed practical nurses, and allied healthcare professionals. Healthcare staffing offers several advantages such as flexibility, scalability, cost savings, and high-quality care. It helps healthcare facilities cope with temporary shortages and seasonal fluctuations in patient volumes. With the COVID-19 pandemic accelerating the shift towards telehealth, many healthcare providers are increasing their reliance on virtual care delivery models.
The Global U.S. Healthcare Staffing Market is estimated to be valued at US$ 24.58 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the U.S. Healthcare Staffing are Solvay SA, Nippon Chemical Industrial Co., Ltd., Hubei Xingfa Chemicals Group Co., Ltd., Sigma-Aldrich (Merck KGaA), LANXESS AG, Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd., Nantong Xinbang Chemical Technology Chemical Co., Ltd., Triveni Chemicals, HBCChem, Inc., TCI Chemicals (Tokyo Chemical Industry Co., Ltd.), American Elements, Shanghai Worldyang Chemical Co., Ltd., Alfa Aesar (Thermo Fisher Scientific Inc.), Finetech Industry Limited, Shanxi Lanhua Sci-Tech Venture Co., Ltd. Major players are focusing on strategic partnerships and mergers & acquisitions to expand their service offerings and geographic presence.
The growing prevalence of chronic diseases and the rising aged population propelling the demand for healthcare facilities and U.S. Healthcare Staffing Market Demand in the country. Additionally, shortage of skilled nursing staff has pushed facilities to increase outsourcing from healthcare staffing companies.
Healthcare staffing companies are also increasingly expanding globally to leverage lower costs and tap into new markets. Many U.S. staffing agencies are now providing international job opportunities for nurses and other medical professionals. This is helping address both domestic and overseas healthcare workforce shortage.
Market Key Trends
The increased adoption of telehealth solutions is one of the major trends in the U.S. Healthcare Staffing Market. Many providers are complementing in-person care with telemedicine and remote patient monitoring to enhance accessibility and flexibility for patients. This is likely to open up new opportunities for telehealth professionals and virtual healthcare staffing in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as there are some entry barriers like government regulations and licenses required in the healthcare industry. However, staffing agencies are easily scalable business models with low capital requirements.
Bargaining power of buyers: The bargaining power of buyers is high as healthcare organizations have many options to choose from various healthcare staffing agencies and can negotiate better prices.
Bargaining power of suppliers: The bargaining power of suppliers like nurses, allied health professionals is also high given the acute shortage of healthcare professionals in the United States.
Threat of new substitutes: There is low threat of substitution as healthcare staffing cannot be replaced easily by other staffing models or technologies.
Competitive rivalry: The competitive rivalry in the industry is high given the large number of small and medium sized players competing against each other.
Geographical regions
The U.S. Midwest region accounts for the largest share in terms of value due to presence of major healthcare centers in states like Illinois, Ohio, Minnesota etc. The region is home to many large hospitals, clinics that outsource their staffing needs.
The South region of the U.S. is growing the fastest due to increasing aging population, medical tourism and expansion of healthcare infrastructure in states like Florida, Texas and North Carolina. The growing number of facilities is driving higher demand for healthcare professionals through staffing agencies in this region.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it