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A new market study, titled “ Healthcare Staffing Market, By Service Type (Travel Nurse Staffing, Per Diem Nurse Staffing, Locu…October 27, 2020
REPORT HIGHLIGHT
Healthcare Staffing market was valued at USD 32.67 billion by 2019, growing with 6.7% CAGR during the forecast period, 2020-2026.
Healthcare Staffing is the third-party allocation of healthcare workers in hospitals to provide humanitarian assistance. Healthcare staffing provides workforce solutions and staffing services to healthcare facilities all over the world. There are various staffing solutions in healthcare from nurse staffing, physician staffing to the allied clinician and pharmacist staffing, and recruiting them into the hospitals, diagnostic centers which are provided by many third-party staffing companies and agencies.
The service involves staffing of registered nurses, medical laboratory technologists, physical & occupational therapists respiratory therapists, and pharmacists. HealthCare staffing is the specialist in certain extraordinary levels of personalized service in the healthcare sector. The third-party healthcare staffing service provided by the agency has certain benefits including worker compensation, freedom to choose the location of service, licensure assistance, insurance benefits, dental insurance continuing education and medical plan, and many others.
Market Dynamics
The global healthcare staffing market is primarily driven by the increasing need for healthcare professionals, and workers treat and serve the patients suffering from conditions such as current COVID-19 outbreak, cancer, and diabetes. As per the Worldometers.info data, there were more than 5,591,677 coronavirus cases reported across the globe as of 26th May 2020 and the number is still increasing at a rapid pace. Such facts would, in turn, fuel the demand for the healthcare staffing industry for serving the patient with COVID-19 infections, driving the industry growth. Furthermore, continuous increasing demand for healthcare workers will support industry growth. As per the World Health Organization (WHO), demand & supply of health workers is growing at a substantial rate of 55%, and expected to reach over 67.3 million health workers by 2030. This would, in turn, boost the industry growth substantially over the forecast period.
Moreover, technological advancements like the robotic process automation (RPA) platform is expected to support industry growth. For instance, in February 2020, RoboSuite has been launched the next generation of robotic process automation for reducing the effort and skill-level required to automate processes in the healthcare and other industries by improving quality, and re-usability. In addition to this, the availability of robust software is likely to create lucrative growth opportunities in the worldwide market during the forecast period. Companies such as Nextcrew Corporation, Bullhorn Inc., and AkkenCloud are offering various staffing software that helps the user to evaluate the workflows which can perform repetitive tasks in monitoring the healthcare staff. Such introductions would, in turn, support the market growth to a great extent. Conversely, less flexible scheduling, overnights, and weekends, sometimes less hourly pay from supervisors and facility management are predicted to impede the healthcare staffing market growth in the coming future.
Service Type Takeaway
By service types, the worldwide healthcare staffing market is categorized into travel nurse, allied healthcare staffing, per diem nurse staffing, and locum tenens staffing. Of these, the travel nurse category is accounted for the highest industry share in 2019. According to the National Center for Biotechnology Information (NCBI), healthcare staff employment for nurses is expected to growing faster with compound annual growth rate (CAGR) of 15% from 2016 to 2026. This is due to hospitals are planning to opt the staffing agency to reduce the distribution of workload in healthcare, as well as rising freedom of location among the nursing staff is expected to propel the growth of the travel nurse segment.
ALSO READ https://www.medgadget.com/2020/08/global-healthcare-staffing-market...
In addition to this, the Locum tenens segment is the fastest-growing segment over the forecast period followed by per diem nurse and allied healthcare. This is primarily due to raising the fondness of physicians to work as locum tenens are some of the factors responsible for the segment growth.
Regional Takeaway
Regionally, the overall market is divided into North America, Middle East & Africa, Asia Pacific, Latin America, and Europe. The North American market for healthcare staffing has the majority of share in 2019 owing to the rising geriatric population and growing demand for the healthcare professional and presence of leading research-based pharmaceutical companies. According to the World Health Organization in 2020, more than 3.9 million nurses and individuals have been needed in the U.S. and there is 11 million additional nurses are required for avoiding the shortage of healthcare staff by 2026. Furthermore, the North American region has advanced technological methods for the treatment of various diseases which increases the healthcare expenditure. In addition, the US has leading pharmaceutical and biopharmaceutical players supported by government & private funding are fuelling the regional market growth.
On the other hand, the Asia Pacific is anticipated to be the fastest-growing region throughout the forecast owing to the growing prevalence of various disorders like cancers, diabetes contributing to the regional healthcare staffing market growth.
COVID-19 Impact
During the COVID-19 pandemic, the healthcare staffing market has shown astounding growth for the treatment of infected people and in many countries, the shortage of healthcare workers has been noted. As healthcare workers are subjected to high risk of coronavirus infection as per the report medRxiv organization, in Italy around 20% of healthcare workers have been infected due to the COVID-19 outbreak.
In this COVID-19 situation, many healthcare agencies have taken initiatives to help COVID-19 patients and related healthcare staff. For instance, key players are actively involved in providing healthcare staff during the COVID-19 pandemic crisis. In April 2018, during the COVID-19 pandemic, Envision Healthcare has been deployed over 500 clinicians across 55 hospitals and medical sites in six states as part of its nationwide efforts in the United States. In addition to this, the company has also supported Envision’s clinicians and hospital partners by providing more than 4 million items of PPE, including masks, face shields, gowns, and goggles. This staffing has been helped many COVID-19 patients to take subsequent treatment hence the company remained a strong position in the global industry of healthcare staffing.
Key Vendor Takeaway
The leading players of the global Healthcare Staffing market include Cross Country Healthcare, Inc., AMN Healthcare, Syneos Health, Inc., CHG Management, Inc., LocumTenens.com, Maxim Healthcare Services, Inc., Adecco Group, Almost Family, Envisions Healthcare Corporation and TeamHealth.
Companies are actively involved in mergers, acquisitions, and partnerships to help the hospitals, diagnostic centers, research laboratories with efficient healthcare staff. For instance, on 5th Feb 2020, CHG Healthcare management has been acquired LocumsMart, the leading locum tenens management system for better serving healthcare organizations.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
HEALTHCARE STAFFING MARKET KEY PLAYERS
Cross Country Healthcare, Inc.
AMN Healthcare
Syneos Health, Inc.
CHG Management, Inc.
com
Maxim Healthcare Services, Inc.
Adecco Group
Almost Family
Envisions Healthcare Corporation
TeamHealth
HEALTHCARE STAFFING MARKET, BY TYPES
Allied Healthcare Staffing
Locum Tenens Staffing
Travel Nurse Staffing
Per Diem Nurse Staffing
HEALTHCARE STAFFING MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA
FOR MORE DETAILS https://www.wiseguyreports.com/reports/5641733-healthcare-staffing-...
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NORAH TRENT
Ph: +162-825-80070 (US)
Ph: +44 203 500 2763 (UK)
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