GVR Report cover Per Diem Nurse Staffing Market Size, Share & Trends Report

Per Diem Nurse Staffing Market Size, Share & Trends Analysis Report By Region (Asia Pacific, North America, Latin America, Middle East & Africa), And Segment Forecasts, 2021 - 2028

  • Published Date: Sep, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-599-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 90

Report Overview

The global per diem nurse staffing market size was valued at USD 7.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2021 to 2028. High demand for Medical-surgical nurses and increasing utilization of staffing agencies, shortage in demand for primary care physicians, in turn, increasing demand for Family Nurse Practitioners are some of the factors expected to boost the market growth. Per diem nursing staff is preferred to meet requirements comprising immediate needs or to compensate for last-moment shift cancellations, where other nursing staff including travel nurses cannot be employed. Proper nursing care is one of the most important factors that determine patient satisfaction and facilitates the speedy recovery of patients. Thus, maintaining a sufficient nurse-to-bed ratio is very important to ensure that each patient receives required nursing services.

U.S. per diem nurse staffing market size, 2018 - 2028 (USD Billion)

The nurse-to-bed ratio generally means the number of nurses per available hospital bed. Due to long working shifts and high patient volume in hospitals, nurses are sometimes overburdened. Per diem nursing services can help in reducing the work burden of nurses. Per diem nurses are employed in healthcare facilities on a temporary basis. These nurses fill in for regular staff or can be employed during flu seasons or for sick calls. According to the 2020 data of the United Nations Department of economic & social affairs, the global geriatric population is 727 million. The rise in life expectancy is resulting in a higher risk of age-related chronic diseases like cardiovascular diseases (CVDs), diabetes, arthritis, etc.

This, in turn, is resulting in a higher burden on healthcare systems giving a boost to the demand for per diem nurse staffing. Employment & payment of per diem nurses are done on a day-to-day basis via hospital staffing pools or specialized job placement agencies. Nurses are looking for opportunities to gain more work experience for exploring future job prospects. The per diem assignments though are temporary, the nurses get good compensation for working flexible schedules, which are driving more nurses to do these assignments. One of the important factors driving the market growth is the benefits and advantages of becoming a per diem nurse. Apart from their passion to serve others, nurses give high importance to flexible work schedules.

 

COVID-19 per diem nurse staffing market impact: 2.0% growth from 2019 - 2020

Pandemic Impact

Post-Covid Outlook

To increase the supply of healthcare professionals in the current health crisis, governments of many countries have eased regulations for nursing licenses. In the U.S. the government allowed licensed nurses of one state to practice in another, through enhanced Nursing Licensure Compact (eNLC). Currently, over 34 U.S. states have enacted eNLC

Improving healthcare infrastructure in developing countries and rising healthcare spending are leading to a rise in the number of hospitals. Setting up a new hospital requires the employment of well-trained medical staff.

As the pandemic continues, governments of many countries are considering rehiring retired nurses to address the demand, providing retired nurses an opportunity to work again as per diem nurses. Many hospitals and staffing agencies are ready to hire retired nurses as they do not require additional training. The rising number of retiring nurses willing to work on a temporary basis can provide new growth opportunities to the market

Increasing awareness about current healthcare services, shortage of healthcare professionals, growing geriatric population, and rising demand for these professionals-due to an increase in the prevalence of chronic diseases associated with unhealthy lifestyle-are factors likely to drive the market growth over the coming years

 

However, the American Hospital Association Annual Survey of Hospitals found that nearly 65% of the nurses already work 12 or 13-hour shifts. Flexibility in the work schedule is a key factor when choosing any profession. Per diem nurses can choose when they are willing to work. This gives them flexibility with locations & shifts and work-life balance. They can choose to work on holidays and thus can get higher pay. Moreover, by working in various healthcare facilities in different wards and with different equipment, they gain a lot of experience. Owing to these factors, many nurses are willing to work under the per diem nursing system, which is fueling the market growth.

Regional Insights

North America dominated the global market in 2020 with a revenue share of over 54%. The region experienced a shortage of nurses even before the pandemic hit. The adoption of staffing services to allocate nurses at various healthcare facilities is expected to drive the market growth. For instance, in a survey conducted by Avant Healthcare Professionals in 2019, a higher number of hospitals are open to staffing agencies than before. Moreover, the number of international staffing services, with organizations such as the American Association of International Recruitment (AAIHR), overlooking the ethical standards of staffing agencies involved in international recruitment, is increasing. The adoption of technology by staffing agencies to improve client experience, the launch of new software for staffing agencies, and the recruitment of nurses on a temporary basis from other regions of the country are some of the trends observed in the region.

Asia Pacific is expected to be the fastest-growing regional market during the forecast period. Developed countries already have a significant number of healthcare facilities and easy access to public health services. An increasing number of government initiatives to strengthen the healthcare systems and improve healthcare access in rural areas have resulted in the initiation of various hospital projects. In October 2020, the Prime Minister of the U.K. announced funding to build 40 hospitals by 2030.

Global per diem nurse staffing market share, by region, 2020 (%)

Similarly, in May 2019, the State Council of China decided to increase support for the development of private hospitals in the country. In November 2018, the Indian government drafted a policy to support the opening of private hospitals in tier II and tier III cities. The government has asked states to provide loans for setting up new hospitals at agricultural interest rates and aid in other services, such as electricity. Such initiatives are expected to increase the number of healthcare facilities, thus boosting the market growth.

Key Companies & Market Share Insights

The market is fragmented with the presence of well-established as well as small-scale players, leading to higher competition among smaller players to sustain their market position. The high demand for nursing services by healthcare facilities leads to the adoption of various strategies, such as mergers & acquisitions, by players to maintain their market stronghold. In December 2018, Cross Country Healthcare, Inc. acquired American Personnel, Inc., which helped expand its presence in the Northeast region of the U.S. Some of the key players in the global per diem nurse staffing market are:

  • Cross Country Healthcare, Inc.

  • Health trust Workforce Solutions

  • Maxim Healthcare Group

  • Supplemental Healthcare

  • Accountable Healthcare Staffing

  • AMN Healthcare

  • Nurse Staffing LLC

  • GHR Healthcare

  • Interim HealthCare, Inc.

  • CareerStaff Unlimited

Per Diem Nurse Staffing Market Report Scope

Report Attribute

Details

The market size value in 2021

USD 7.9 billion

The revenue forecast in 2028

USD 11.1 billion

Growth rate

CAGR of 4.9% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 – 2019

Forecast period

2021 – 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

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

Segments covered

Region

Regional scope

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

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Brazil; Mexico; South Africa

Key companies profiled

Cross Country Healthcare, Inc.; Healthtrust Workforce Solutions; Maxim Healthcare Group; Supplemental Healthcare; Accountable Healthcare Staffing; AMN Healthcare; Nurse Staffing LLC; GHR Healthcare; Interim HealthCare, Inc.; CareerStaff Unlimited

Customization scope

Free report customization (equivalent to up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global per diem nurse staffing market report based on region:

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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