June 18, 2024
Healthcare Staffing Market

The Global Healthcare Staffing Market is driven by rapid technological advancements in healthcare

The global healthcare staffing market is growing rapidly driven by a substantial rise in demand for skilled healthcare professionals and rapid technological advancements in the healthcare industry. Healthcare staffing involves providing hospitals, nursing homes, home healthcare agencies, and other healthcare facilities with qualified doctors, nurses, and allied health professionals on a temporary or permanent basis. These staffing solutions help healthcare organizations address issues related to staffing shortages, leaves, vacations, and office turnover. Healthcare staffing agencies recruit, verify credentials, train, and place skilled professionals such as physicians, nurses, therapists, healthcare executives and other medical scribe personnel at client healthcare facilities. The staffing solutions ensure continuity of care and serve to fill vacant positions until permanently hired.

The global Healthcare Staffing Market is estimated to be valued at US$ 39.52 Bn 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
Increased use of mobile applications – Healthcare staffing agencies and facilities are extensively using mobile applications to address staffing needs. Mobile applications allow healthcare organizations to post open job requisitions and for professionals to search, apply and schedule shifts based on their availability and proximity. They are enabling faster and more efficient deployment of staff.

Technologies such as machine learning and AI are being increasingly deployed to match candidates’ profiles with jobs, forecast staffing requirements, streamline compliance and make the hiring process more efficient. Advanced analytics is helping address issues of staff burnout and turnover proactively. This trend is expected to accelerate over the coming years.

Porter’s Analysis
Threat of new entrants: The healthcare staffing market requires significant capital investment and compliance with regulations which poses moderate threat of new entrants.

Bargaining power of buyers: Large healthcare organizations have high bargaining power as buyers due to their scale and can negotiate on price and quality of staffing services.

Bargaining power of suppliers: The availability of skilled workforce provides moderate bargaining power to suppliers in the form of nurses, physicians and other medical staff.

Threat of new substitutes: There exists low threat of substitutes as healthcare staffing fulfills important requirement of hospitals and other healthcare providers.

Competitive rivalry: The healthcare staffing market comprises large number of players intensifying competitive rivalry.

Key Takeaways
The Global Healthcare Staffing Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Healthcare Staffing Market is estimated to be valued at US$ 39.52 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.

The North America region currently dominates the market owing to growing instances of chronic diseases. Europe also captures a significant share due to supportive healthcare infrastructure and availability of skilled workforce.

The key players operating in the Healthcare Staffing Market are UF, AMN Healthcare, Maxim Healthcare Services, Cross Country Healthcare, and inVentiv Health. Healthcare organizations rely on staffing services to fulfill their temporary as well as long term staffing needs. The growing demand for nurses and other medical professionals has led to emergence of many regional and local player.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it