The global healthcare staffing market size is likely to reach USD 44.65 billion by 2025, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 5.0% during the forecast period. Rising geriatric population is stirring up the demand for healthcare services around the globe. However, there is a shortage of efficient nurses and other healthcare professionals.
Shortage of physicians in developed regions is expected to bolster the growth of the healthcare staffing market. For instance, the Association of American Medical Colleges had predicted in 2010 that the U.S. is estimated to face a shortage of 150,000 doctors over the next 10 to 15 years. Furthermore, availability of skilled professionals at lower costs as and when required is anticipated to propel the market in the coming years.
Also, in response to pressure of costs, hospitals are forced to reduce their staff and have implemented policies to ensure that nurses would be available for work when workload increases. The healthcare staffing market has significant penetration and can easily provide staff during emergencies.
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Further key findings from the study suggest:
The allied healthcare segment accounted for the largest revenue share in the market in 2018. It includes physical therapists, medical technologists, occupational therapists, respiratory therapists, pharmacists, and phlebotomists
The locum tenens segment is projected to witness the fastest growth during the forecast period. This can be attributed to cost-effectiveness for employers and increase in the number of physicians choosing to work as locum tenens
North America will lead the market through 2025 due to increasing geriatric population, lack of skilled professionals as compared to demand, and local presence of several market players
Asia Pacific is likely to experience the fastest growth during the next decade due to increasing investments by several market players, positive economic outlook, and rising awareness about contract staffing
Some of the key players are Envision Healthcare Corporation; AMN Healthcare; CHG Management, Inc.; Maxim Healthcare Services, Inc.; Cross Country Healthcare, Inc.; inVentiv Health; Almost Family; TeamHealth; and Adecco Group.
Grand View Research has segmented the global healthcare staffing market by service and region:
Healthcare Staffing Service Outlook (Revenue, USD Million, 2014 - 2025)
Per Diem Nurse
Healthcare Staffing Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa
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