Healthcare Staffing Market Size And Growth Analysis In Present Era

The rise in the geriatric population of the world is playing a vital role in the expansion of the healthcare staffing market size over the past decade. Due to a robust geographical penetration of major market players through the means of partnerships, mergers, as well as efforts to raise awareness pertaining to the benefits of contract staffing, the market is further expected to grow in size.

Healthcare Staffing Market Size

• The healthcare staffing market can be segmented into per diem nurses, travel nurses, locum tenens, and lastly, allied healthcare. Previous years have observed that the segment of allied healthcare has been primarily responsible for the rise in the revenue share in the industry.
• Having said this, locum tenens is predicted to contribute to the fastest growing CAGR in the coming few years as allied healthcare, occupational therapist, medical technologists, physical therapists, pharmacists, phlebotomists, respiratory therapists, as well as other professionals are commercializing their services.
• The shortage of healthcare professionals in economies of India, China, Bangladesh as well as Indonesia has rising geriatric population due to which there has been a surge in the demand for not-so-healthy lifestyle are observed to the growth of the industry.

Healthcare Market Growth Analysis in Present Era

• The key characteristics and reasons behind the worldwide popularity of the healthcare staffing market are that it offers travel opportunities, flexible schedules, short-term assignments, as well as clinical experience. All this is provided at geographically different locations where the healthcare staff is employed to work as either locum tenens or travel nurses. Hence, the demand for healthcare staff to work temporarily is predicted to further expand market growth.
• There is a significant amount of dearth in the availability of experienced staff with skills and technical knowledge. A rise in demand for healthcare services is expected to boost the market growth in developing as well as developed nations.
• The healthcare market is seeing mergers and acquisition between companies alongside an increased number of workforce solutions in the APAC and Africa regions.
• As per WHO, there has been a significant amount of shortage for healthcare workers worldwide in the past many years. It is predicted that this shortage will increase many-fold in the coming decade.
• The introduction of new players alongside the growth of established companies through collaborations is one of the many primitive growth factors which is directly impacting the market.
• For example, the Novation Companies, Inc. took charge of Healthcare Staffing, Inc. (HCS). HCS represents healthcare workers and has successfully established strong relationships with healthcare service providers. Therefore, the purchase is found to boost the expansion of Novation’s portfolio along with its geographical reach.

The global standards for the education and ethical practices of healthcare staff are generating an impact on the global scenario. A large number of clients are preferring physicians to get employed as locum tenens order to make the hiring cost effective and more efficient. This is further adding as an important growth factor in the segment.