Shortage of Healthcare Worker To Propel Shortage Of Healthcare Staffing Market Growth

 Healthcare Staffing Market

Healthcare Staffing Market, By Service Type (Travel Nurse Staffing, Allied Healthcare Staffing, Per Diem Nurse Staffing, and Locum Tenens Staffing), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), is estimated to be valued at US$ 65.92 billion in 2022 and is expected to exhibit a CAGR of 7.6% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights

Market Overview:

Healthcare staffing is a platform that works as a bridge between end clients and workers, helping them find the best jobs. This industry has a huge need because of the constant demand for healthcare employees, especially nurses and therapists. Healthcare staffing is a crucial service for facilities and healthcare professionals alike. Staffing agencies are on the front line of combatting the issue of under- and over-staffing, ensuring that pre-determined positions are filled and maintained. Moreover, healthcare staffing agencies also focus on reducing paperwork and eliminating unproductive waiting time.

Competitive Landscape:

LocumTenens.com, Adecco Group, TeamHealth, Trustaff, Aya Healthcare, Maxim Healthcare Group, CGM Management, Inc., AMN Healthcare, Cross Country Healthcare, Inc., and Envision Healthcare Corporation.

Key Market Drivers:

Growing prevalence of chronic disease is expected to fuel healthcare staffing market growth. According to the Centers for Disease Control and Prevention (CDC), chronic diseases, such as heart disease, cancer, and diabetes, are the leading causes of death and disability in the United States, accounting for 70% of all deaths. This in turn is also driving the growth of the healthcare staffing market.

Shortage of healthcare worker is expected propel growth of the healthcare staffing market. As of 16 July 2023, in areas where a health workforce shortage has been identified, the United States needs more than 17,000 additional primary care practitioners, 12,000 dental health practitioners and 8,200 mental health practitioners, according to data from the Health Resources & Services Administration. The American Association of Medical Colleges (AAMC) predicts a shortage of as many as 122,000 physicians by 2032. The report that made this dire prediction also pointed out that the over-65 population will grow by 48% by 2032.

Covid-19 Impact Analysis

The healthcare staffing market witnessed positive growth during the COVID-19 pandemic due to the drastic increased in the demand for staffing services. According to a poll conducted by Avant Healthcare Professionals, nearly 90% of the medical facilities adopted using travel nurses for management of COVID-19 patients in 2020.

Key Takeaways:

1.      The healthcare staffing market is expected to exhibit a CAGR of 7.6 % over the forecast period owing to the rise in burden of chronic disease and shortage of healthcare staffing various countries.

2.      North America is expected to dominate the global market during the forecast period owing to the growing prevalence of chronic disease and shortage of healthcare staff in the region. According to the Association of American Medical Colleges, the United States is projected to face a shortage of up to 124,000 physicians by 2034 as the demand outpaces supply.