Global Healthcare Staffing Market is Projected to Grow at a Lucrative CAGR of 10 to 15% by 2027

The healthcare industry has faced many unpredictable staffing challenges or hindrances over the past few years. Further, the return of patients after the Covid-19 pandemic looking out for care for elective and non-emergent procedures — is resulting in a rapid growth in the demand for physicians and other healthcare service providers. It can take days or months to occupy a open job position and job vacancies can result in loss of revenue for the companies. Moreover, unoccupied jobs can directly affect the segment of patient care. This increases the importance and work of the healthcare staffing companies who help the healthcare facilities occupy the open job positions.

Lack of Physicians and Nursing Staff is Fueling the Growth of the Healthcare Staffing Market

According to the Association of American Medical Colleges, lack of physicians is expected to be between 38,000 and 124,000 by 2034 in United States. Further, a lack of nursing staff is set to persist over the coming decade as baby boomers are exiting their workforce. The Journal of Nursing Regulation’s National Nursing Workforce Survey projected that ~40% of employed registered nurses are aged 55 or older. According to U.S. Registered Nurse Workforce Report Card and Shortage Forecast published in the September or October 2019 issue of the American Journal of Medical Quality, lack of registered nurses is anticipated  to grow across USA by 2030. This publication forecast a rapid nursing staff shortage in 30 states with a huge shortage in the Western region of USA. In such cases, demand for healthcare staffing services is likely to grow significantly.

Healthcare Staffing Companies feeling the Brunt of the Declining Human Labor Market

While the demand is on the up, the healthcare manpower is declining, thus resulting in a growing competition for limited manpower. The pre-existing shortage was worsened by the covid-19 pandemic as many physicians and nurses left their jobs due to excessive burnout or exhaustion. Due to this, it is becoming extremely tough to look out for a permanent or temporary staff to occupy vacant job positions. This has increased the competition among the healthcare staffing companies to search and recruit skilled healthcare staff.

Post Covid-19 Pandemic, Demand for Travel Nurses has Rapidly Declined in United States

Travel nurses are registered nurses who take temporary nursing jobs in hospitals, clinics, nursing homes and other healthcare facilities. Just before the COVID-19 pandemic, in January 2020, there were about 50,000 travel nurses in USA, or about 1.5% of the total number of registered nurses in USA. This number doubled to more than 100,000 during Covid-19 pandemic. 

In 2021, the demand for travel nurses increased by more than 30%. Many nurses transitioned into a travel nurse role to take benefits of the significant hiked pay, flexible working hours, and comfortable work locations. However, as the deaths and hospitalizations due to Covid decreased, the demand for travel nurses and the amount they received reduced rapidly. 

North America Accounts for the Higher Market Share in the Healthcare Staffing Market

From a geographical outlook, North America accounts for the higher market share in the healthcare staffing market. This can be attributed to the growing demand for healthcare services and a rapidly emerging healthcare staffing market; growing shortage of skillful healthcare professional and the presence of huge number of staffing companies. The USA healthcare market is experiencing a lack of healthcare workers at every level. The Association of American Medical Colleges estimates that the US healthcare market will further face a shortage of up to 124,000 physicians by 2034. In such cases, hospitals as well as long term care facilities will definitely utilize the services from healthcare staffing companies to recruit the qualified and skilled staff.

Competitive Landscape Analysis: Global Healthcare Staffing Market

Some of the major and leading players operating in the global healthcare staffing market are listed below: -

  • Aya Healthcare
  • AMN Healthcare
  • CHG Healthcare
  • Medical Solutions
  • Jackson Healthcare
  • Vista Staffing
  • HealthTrust Workforce Solutions
  • Cross Country Healthcare
  • SnapNurse
  • Maxim Healthcare Services
  • Medix
  • Cornell/Trilantic Porto
  • Health Carouse
  • Trusted Health
  • HealthCare Support
  • Supplemental Healthcare
  • ATC Healthcare
  • Medicus Healthcare Solutions

Get Detailed Insights on Healthcare Staffing Market Report with a FREE Sample PDF @ https://meditechinsights.com/global-healthcare-staffing-market/

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