Healthcare Staffing Market Expected to Reach $89.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Healthcare Staffing Market," The healthcare staffing market size was valued at $40.1 billion in 2021, and is estimated to reach $89.8 billion by 2031, growing at a CAGR of 8.9% from 2022 to 2031.\

The primary factors driving the growth of the healthcare staffing market are an aging population and an increase in the prevalence of chronic diseases. A significant trend in the healthcare employment industry that is driving demand is the rise of international studies. The need for healthcare employees is also rising as a result of the lack of healthcare workers and the growing number of healthcare institutions. The market growth, however, might be constrained by the high salary and lack of job security for competent healthcare service providers. In the upcoming years, there will also be numerous potentials for market expansion due to the rising number of healthcare and nursing institutions and improved staffing practices in the sector.

The healthcare staffing market expansion is hampered by a shortage of research and development resources for healthcare facilities. The lack of demand for medical specialists and professionals, particularly in developing and undeveloped nations, would present the market with additional difficulties. The availability of alternative staffing strategies and higher expenses for this healthcare staff compensation further restrain market expansion.

The rising geriatric population is one of the most important concerns confronting countries worldwide. The prevalence of chronic conditions in geriatric patients, such as diabetes, obesity, and cardiovascular disease is also expected to drive the expansion of the healthcare staffing market. Increased public health financing and improved healthcare infrastructure have led to an increase in the number of hospitals. New regulations are anticipated to give related personnel, especially nurses, the power to act as the patient’s primary advocates by initiating health plans to support better treatment. The right of individuals to make informed healthcare decisions is upheld and advanced by these policies. For instance, in March 2021, the Indian government passed the National Commission for Allied and Healthcare Professionals Bill, 2021, which seeks to regulate allied healthcare professions, including radiologists and laboratory technicians, who play a crucial role in the medical industry.

The global healthcare staffing market share is segmented on the basis of type, end user, and region. According to type, the market is classified into allied healthcare staffing, per diem nurse staffing, travel nursing, and locum tenens staffing. As per end user, the market is classified into hospitals, clinics, clients, and others. Region wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the healthcare staffing market report include AMN Healthcare, Envision Healthcare Corporation, CHG Management, Inc., Maxim Healthcare Group, Cross Country Healthcare, Inc., Trustaff, Aya Healthcare, Teamhealth, Adecco Group, and Locumtenens.Com

The report offers a comprehensive analysis of the global healthcare staffing market trends by thoroughly studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threat of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Healthcare Staffing Industry

•  The demand for healthcare staffing is directly proportional to the demand from hospitals, clinics, and home care settings. The demand for healthcare staffing in hospitals greatly increased due to the outbreak of the COVID-19 pandemic.
• Hospital admission rates increased around the world during the pandemic. The COVID-19 virus primarily affects the elderly since people with weakened or compromised immunity are more prone to catch it. Healthcare staffing was in high demand in hospitals to provide effective patient care as hospital admission rates increased.
• Many nurses and doctors are considering early retirement as a result of the stress and exhaustion induced by the COVID-19 outbreak. This will increase the personnel deficit and raise the demand for temporary nursing staff and workers.

Key Findings of the Study

• On the basis of type, the allied healthcare staffing segment emerged as the global leader in 2021 and is predicted to witness the fastest growth in the coming years.
• On the basis of end user, the hospitals segment emerged as the global leader in 2021, and the client’s segment is predicted to witness the fastest growth in the coming years.
• On the basis of region, the North America market registered the highest market share in 2021 and the Asia-Pacific region is predicted to witness the fastest growth in the coming years. 
• The report also provides an in-depth study about the healthcare staffing market growth