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Healthcare Staffing Services Market: By Service Service Type (Travel Nurse Staffing, Per Diem Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing) By Service Service Type (Hospitals, Clinics, Ambulatory Facilities, Others) Growth, Future Prospects & Competitive Analysis, 2016-2028

The global Healthcare Staffing Services Market report explores the critical analysis of the Healthcare Staffing Services industry using key parameters. The report consists of investment strategies, the need for investments in the Healthcare Staffing Services industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Healthcare Staffing Services industry, as well as how economic and non-economic barriers are helping the Healthcare Staffing Services market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. key technological developments, and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Healthcare Staffing Services Market?

In 2021, the travel nurse was the leading segment in the service type. The tremendous growth of the travel nurse staffing category can be attributed to quick service, low cost, and a nurse shortage. This scenario is expected to grow in the following years. The segment is predicted to grow due to the high demand for nurses during flu season, travel opportunities, and nursing shortages.

In 2021, the hospital segment held the greatest market share. Most hospitals and healthcare service providers are forming their staffs according to the government's severe rules. Patient-centered rules and regulations are causing key players to increase their staffing levels to fulfill the increased medical demand.

Which region dominated the Healthcare Staffing Services Market?

In 2021, North America held the largest share of the Healthcare Staffing Services market. Some significant factors contributing to this region's greatest share include the local presence of key market participants, an increase in the geriatric population, and increased demand for healthcare workers by hospitals due to financial setbacks in recruiting permanent staff. The market is experiencing an increased demand for healthcare workers and a shortage of trained individuals. This growing shortage of healthcare workers is likely to directly impact their compensation, culminating in considerable raises for a variety of healthcare professionals, including nurses.

What is the competitive environment of the Healthcare Staffing Services Market?

The competitive environment of the Healthcare Staffing Services industry provides information on total economic profit made by suppliers and businesses, sales and revenues produced in this sector, Healthcare Staffing Services market share globally, business organization overview, the introduction of new products, and opportunities for the industrial Healthcare Staffing Services market. For instance, ABN Healthcare announced in May 2021 that it had completed the acquisition of Synzi, a full-service virtual care management company. Synzi delivers virtual care and remote patient monitoring solutions in the home health and outpatient industries. On the other hand, ABN Healthcare will unveil the next version of the ABN Passport. This mobile app will assist travel nurses, bookers, and related professionals in finding and managing assignments in August 2020.

Executive Summary

What are all the technical improvements being produced in the Healthcare Staffing Services Industry?

Technical development for the healthcare staffing services industry is in Virtual Reality (VR) and Artificial Intelligence (AI). VR has been a game changer in treating post-traumatic stress disorder and stroke victims. VR has also trained medical workers for crucial surgical procedures without cadavers and dementia and mental disability studies. With AI, doctors and healthcare institutions may monitor their patient's health in real-time and provide preventive therapy before symptoms appear. Wearable and portable Internet of Things (IoT) medical monitoring gadgets have made this complex technology more accessible. Various insurance companies and payment processors have begun to develop AI-enabled products for patients and doctors to prevent insurance claims from being denied due to a lack of data and to make payments more transparent. Having clear communication, quick response, and access to essential data is critical to saving lives during medical emergencies. And technology is transforming the way people receive healthcare.

Which are the key investments by the Healthcare Staffing Services Industry Market players?

Because of their extraordinary flexibility and adaptability in every situation, Healthcare Staffing Services systems have been employed in various industries. The key actor makes various investments; for instance, Trusted Health, a firm that helps hospitals overcome staffing vacancies, raised $149 million in investment on November 2021. The investment will be used to expand the Trusted Works platform, which matches nurses with unfilled positions while utilizing artificial intelligence to balance fill rate and cost. Jackson Healthcare received USD 34 million from Georgia's government in July 2021 for providing staffing assistance to hospitals and nursing homes during the epidemic.

Some of the major players in the market are ABN Healthcare, Almost Family, LocumTenens, Adecco Group, Cross Country Healthcare, Inc, CHG Management, Inc, Maxim Healthcare Services Inc., Envision Healthcare Corporation, TeamHealth, Syneos Health, Inc.

What are the Major Driving Factors for Healthcare Staffing Services Market?

The healthcare staffing market is driven by the increased number of medical professionals volunteering to work as locums. The market is expected to expand rapidly as the global elderly population grows. The market is expected to expand rapidly as the global elderly population grows. The occupation allows individuals to achieve a better work-life balance and gain hands-on experience in their preferred skill set. Furthermore, an increase in the number of healthcare units, an increase in pollution, and an increase in healthcare budgets are expected to boost the worldwide healthcare staffing market. Travel opportunities, flexible schedules, and short-term assignments are some attractions that entice medical professionals to work in health care staffing.

What are the Major Risks for the Healthcare Staffing Services Market?

A lack of experienced medical personnel, limited facilities and professional dedication provided by healthcare staffing are projected to hinder the global healthcare staffing market throughout the projection period. Health care staffing provides limited facilities, and professional dedication affects the market.

Which is the key Service Type in the Healthcare Staffing Services Market?

The travel nurse staffing sector dominated the Healthcare Staffing Services market in 2021. Registered nurses (RNs) can work in several healthcare specializations and locations across the United States and abroad through travel nursing services. These services may offer chances for travel, short-term assignments, flexible work hours, and clinical experience in various settings. Increasing knowledge of the benefits of temporary labor and job-related bonuses are significant drivers of segment growth. Regarding revenue share, the travel nurse sector dominated the market in 2021, as hospitals were forced to reduce their workforce in response to growing healthcare costs. As a result, healthcare providers are turning to "staffing" firms to ensure that nurses are available as workloads increase. The usage of travel nurses increased by 35% in 2020, according to an ABN Healthcare survey performed in October 2021. According to the survey results, this tendency is projected to continue shortly. As a result, such factors will likely favorably impact the segment's growth during the projection period. The healthcare staffing recruiting process is speedier and allows recruiters worldwide to choose from a larger pool of candidates. According to Zippia, Inc. research done in April 2021, there were 1,696,386 traveling nurses employed in the United States in 2020. Furthermore, according to the Travel Nursing Statistics Report 2020-2021, revised in August 2020, 1.1 million employment are likely to be created by 2022, with that figure expected to expand over time. As a result, the previously mentioned facts and the growing trend of recruiting travel nurses provide the industry with a favorable outlook.

How is the Healthcare Staffing Services Market performing in regions?

In 2021, the global Healthcare Staffing Services market was dominated by North America. A well-developed healthcare infrastructure, favorable government laws, the region's large senior population, and the availability of medical coverage in healthcare staffing are all projected to boost the region's healthcare staffing sector. The U.S. spent USD 4.1 trillion on healthcare in 2020, according to National Health Expenditure Accounts statistics released in December 2021. Furthermore, as national healthcare staff shortages worsened during the pandemic, organizations became more reliant on recruiting outside their immediate area. For example, in May 2021, Syntellis Performance Solutions collaborated with HFMA's Financial Analytics Leadership Council (FALCO) to survey current and future hospital labor trends. A well-developed healthcare infrastructure, favorable government laws, the region's significant senior population, and the availability of medical coverage in healthcare staffing are all likely to benefit the region's healthcare staffing industry.

Furthermore, when national healthcare worker shortages worsened throughout the epidemic, organizations relied more on recruitment outside their immediate area. For example, in May 2021, Syntellis Performance Solutions collaborated with HFMA's Financial Analytics Leadership Council (FALCO) to survey pandemic hospital labor trends now and in the future. According to the poll findings, 57% of survey respondents said they hired temporary or contracted labor during the pandemic, and more than one-third (34%) hired people from outside their region. In 2021 and 2022, 25% of poll respondents intend to look outside their immediate area for extra temporary workers, while 27% intend to hire permanent workers from other locales. As a result, healthcare facilities continue investigating various possibilities for staffing shortages. To address this, the healthcare system incentives nurses and other clinical personnel who work extra hours and boosts per-hour incentive payments.

What is the regulatory landscape for the Healthcare Staffing Services Market?

The regulatory landscape for this market is that governments are exploring a stricter regulatory approach across regions. For instance, the I-9 Verification of Government-Approved Documents, which uses e-Verify to match government records, confirms that an individual is permitted to work in the United States. For remote prospects, an employment agency can request an inquiry into the USCIS immigration system.

What is the Market Size of the Healthcare Staffing Services regarding value?

The healthcare Staffing Services Market is predicted to grow at a substantial CAGR of 6.70% in the coming years. The global Healthcare Staffing Services market is expected to be worth USD 35.2 billion in 2021, rising to USD 51.94 billion by 2028.

What are the top players' plans for the Healthcare Staffing Services Market?

The key players in the Healthcare Staffing Services market are rapidly growing digital technology is pushing more automation, influencing where work is performed, and spawning new and open talent models. With so much change in the air, it's understandable that many provider companies are concerned about how to deal with such exponential change and its consequences for where, how, and when work is done. Even they are making a huge market investment to keep the technology advancement.

Segmentation of Global Healthcare Staffing Services Market-

Global Healthcare Staffing Services Market – By Service Service Type Million, 2017 - 2030)

  • Travel Nurse Staffing
  • Per Diem Nurse Staffing
  • Locum Tenens Staffing
  • Allied Healthcare Staffing

Global Healthcare Staffing Services Market – By Service Service Type

  • Hospitals
  • Clinics
  • Ambulatory Facilities
  • Others

Global Healthcare Staffing Services Market – By Region

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global Healthcare Staffing Services market

There was a considerable increase in demand for travel nurse staffing services and workforce technology solutions during the COVID-19 pandemic. As the number of COVID-19 infections rises, so does the demand for travel and per diem nurses.

The largest market share for Healthcare Staffing Services was held by North America.

One of the main drivers of the market is the increased number of medical professionals volunteering to work as locums.

Travel Nurse Staffing had a major share in 2021.

The Hospitals segment had a major share in the global market in 2021.

Healthcare Staffing Services Market Scope

Report Attribute Details
Market Value in 2021 USD 35.2 billion
Market Value in 2028 USD 51.94 billion
CAGR 6.70%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Sep 2022
Category:  Healthcare
Report ID:   58977
Report Format:   PDF
Pages:   120
Rating:    4.4 (34)
Delivery Time: 24 Hours to 48 Hours   
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