The global medical recruitment market size is expected to grow at a compound annual growth rate (CAGR) of 4.33% from 2024 to 2030. A rising shortage of healthcare professionals in the healthcare sector is leading to an increased need for medical recruitment services. The increasing global demand for healthcare services, driven by the growing prevalence of chronic diseases, is increasing demand for more healthcare professionals.
Factors such as the increasing global demand for healthcare professionals, the proliferation of healthcare services, and the establishment of super-specialty and multi-specialty hospitals are poised to drive market growth during the forecast period. For instance, in June 2021, Park Group of Hospitals underwent significant expansion, becoming one of North India's fastest-growing privately-owned chains of super-specialty hospitals, offering advanced care, including cancer treatment and tertiary-level healthcare. This expansion has attracted patients seeking state-of-the-art medical interventions and care for a wide range of health conditions.
In addition, according to the survey conducted by Clinician of the Future, healthcare professions are projected to experience significant growth rate of 16%, surpassing the average growth rate for all occupations. Additionally, there will be a growing demand for nurse practitioners, physical therapy assistants, and physician assistants. However, 47% of healthcare workers are planning to depart from their roles by 2025. These factors are expected to boost demand for medical recruitment during the forecast period.
On the basis of profile, the market is segmented into allied healthcare, health information technicians, biological and medical scientists, physicians and nurses, medical social workers, medical representatives, and others. The allied healthcare segment held the largest market share in 2023. The growing demand for allied healthcare in the European region is expected to lead to the expansion of the medical recruitment market in Western Europe.
Marker players are investing to enhance their recruitment services. For instance, in May 2020, Medwing, a German startup, secured USD 30 million funding from Cathay Innovation, a global venture capital firm, to offer both permanent and non-permanent healthcare professional positions.
Based on end use, the medical recruitment market is segmented into managed services, specialist care services, homecare services, and others. The managed services segment dominated the market in 2023. Managed services play a vital role in minimizing downtime, eliminating redundancy, and delivering tailored value-added offerings like application testing, service catalog development, and expert advisory services.
North America dominated the market in 2023. The growth of the market is based on factors such as the introduction of advanced healthcare facilities, an increasing number of healthcare service providers, and the increase in healthcare funding within the region. For instance, in February 2022, Hackensack Meridian Health, based in New Jersey, launched a program named a Hospital at Home at JFK University Medical Center in Edison.
This initiative enables the provision of hospital-based services in the comfort of patients' homes. Such endeavors contribute to market growth, reflecting the growing adoption of medical recruitment services to extend hospital-level care to patients in their homes.
Key players operating in the market are Impellam, Everyday Health, Inc., CCM Recruitment, TFS Healthcare, CPL Healthcare,Accountable Healthcare Staffing, AMN Healthcare, Aya Healthcare, and CHG Management, Inc. The market participants are working towards new product development, M&A activities, and other strategic alliances to gain new market avenues. In March 2023, Medwing, a European startup dedicated to creating a recruitment platform for healthcare professionals, secured USD 47 million in a Series C funding round. This platform is currently available in Germany and the U.K., with approximately 5,500 registered medical employers and 500,000 healthcare professionals.
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