Healthcare Staffing Market Size, Share & Trends Report

Healthcare Staffing Market Size, Share & Trends Analysis Report By Service Type (Travel Nurse, Per Diem Nurse, Locum Tenens, Allied Healthcare), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Apr, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-2-68038-245-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 100

Report Overview

The global healthcare staffing market size was valued at USD 31.8 billion in 2019 and is expected to register a CAGR of 5.4% over the forecast period. A significant rise in the geriatric population has been one of the major contributors to market growth over the past few years. Increasing awareness regarding the benefits of temporary staffing, job related perks, and availability of opportunities across the country are some of the factors contributing to market growth.

U.S. healthcare staffing market size

For the last few years, the healthcare industry is facing a shortage of skilled medical practitioners globally. For instance, according to the World Health Organization (WHO), in 2013, there was a shortfall of 7.2 million healthcare workers across the globe and the number is projected to reach 12.9 million by 2035.

According to the U.S. Bureau of Labor Statistics, the average annual income for nurses was around USD 75,000 in 2018. Moreover, increasing shortage of healthcare professionals is expected to increase the salaries of nurses, in-turn attracting more individuals to opt for a career in the field of healthcare staffing. The increased flow of healthcare professionals will help in enduring the problem of staff shortage.

Clinical experience at different locations, short-term assignments, travel opportunities, and flexible schedules are attracting travel nurses and locum tenens, further boosting the market growth. A survey published by Avant Healthcare Professionals stated that around 50% of hospitals in U.S. reported job openings for temporary nurses and over 60% of the hospitals were expecting retirements of nurses in 2019. Also, the trend of appointing travel nurses saw an increase of 7% in 2019. These factors are anticipated to significantly boost the demand for healthcare staffing in U.S.

Service Insights

By service, the market has been segmented into a travel nurse, per diem nurse, locum tenens, and allied healthcare. In 2019, the travel nurse segment held a majority of the market in terms of revenue share. In response to the rising pressure of healthcare costs, hospitals are forced to reduce their staff and hence, opt for staffing services to ensure that nurses are available when workload increases.

Locum tenens, on the other hand, are expected to witness the fastest growth rate over the forecast period. The cost-efficiency for employers and the preference of physicians to work as locum tenens are some of the factors responsible for the segment growth. According to a survey conducted by Staff Care, an AMN Healthcare company, the number of physicians working as locum tenens is increasing continuously in U.S.

Regional Insights

The global healthcare staffing market was dominated by North America in terms of revenue share in 2019 owing to the presence of major players, lack of skilled professionals as compared to demand, and an increasing geriatric population. The market players are adopting strategic initiatives such as collaborations, acquisitions, and mergers in order to increase their network. Thus increasing market penetration is anticipated to propel the regional growth over the forecast period. For instance, Advance Medical acquired Rise Medical Staffing, a provider of travel nurse staffing services, in 2016. This will provide Advance Medical an opportunity to expand the travel nursing division and strengthen its foothold in hospital settings.

Global healthcare staffing market share

Asia Pacific is projected to witness the fastest growth over the forecast period as the demand for contract staffing is on the rise in the region. The rising demand can be attributed to the fact that employment through contract staffing involves no liabilities that are normally associated with permanent staff. In addition, the recruitment process is faster and recruiters can choose from a larger pool of candidates.

Healthcare Staffing Market Share Insights

Some of the major players in the market are Almost Family; Adecco Group; CHG Management, Inc.; AMN Healthcare; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; TeamHealth; and Maxim Healthcare Services, Inc.

Key players in the market are undertaking strategies such as mergers and acquisitions to expand the service portfolio and geographical reach in order to increase their market share. For instance, in February 2018, TeamHealth acquired Emergency Medicine Consultants (EMC), a provider of emergency medical staff. This acquisition will add EMC’s 80 advanced practice clinicians and 330 physicians to TeamHealth’s portfolio.

The growing influence of established companies through mergers and acquisitions and an influx of new healthcare staff providers is one of the primary growth stimulants for the market. For instance, Healthcare Staffing, Inc. (HCS) was acquired by Novation Companies, Inc., in August 2017. HCS is a provider of healthcare staff and has established strong business relations with service providers in Georgia. Thus, this acquisition is likely to assist in the expansion of Novation’s geographical reach and portfolio.

Healthcare Staffing Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 33.5 billion

Revenue forecast in 2027

USD 48.6 billion

Growth Rate

CAGR of 5.4% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Service type, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; Japan; China; Brazil; Mexico; South Africa

Key companies profiled

Almost Family; Adecco Group; CHG Management, Inc.; AMN Healthcare; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; TeamHealth; Maxim Healthcare Services, Inc.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global healthcare staffing market report based on service type and region:

  • Service Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Travel Nurse Staffing

    • Per Diem Nurse Staffing

    • Locum Tenens Staffing

    • Allied Healthcare Staffing

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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