The U.S. healthcare staffing market consists of agencies or firms that provide healthcare staffing services. Healthcare staffing involves the supply of qualified healthcare professionals like physicians, nurses, allied healthcare professionals, and administrative or clerical staff to various healthcare organizations on either a temporary or permanent basis. The demand for healthcare staffing has increased owing to the shortage of healthcare workers, growing geriatric population, and increasing workload in healthcare facilities.
The U.S. healthcare staffing market was valued at US $22.06 Billion in 2022 and is forecast to reach a value of US$ 26.97 Billion by 2030 at a CAGR of 3.4% between 2023 and 2030.
U.S. Healthcare Staffing Market Demand helps healthcare organizations address staffing needs amid the shortage of healthcare professionals, while ensuring appropriate skill mix, flexibility, and affordability. It also provides benefits to healthcare professionals in terms of work-life flexibility and career advancement opportunities.
Key Takeaways
Key players operating in the U.S. healthcare staffing market are Envision Healthcare Corporation, AMN Healthcare, CHG Management, Inc., Maxim Healthcare Group, Cross Country Healthcare, Inc., Syneos Health, Inc., and Almost Family, Inc., among others. These leading players are focusing on strategic collaborations and acquisitions to strengthen their market position.
The U.S. healthcare staffing market offers significant growth opportunities due to the increasing demand for telehealth and home healthcare services amid the pandemic. With advancements in healthcare technology and a growing emphasis on value-based care, telehealth and remote patient monitoring are expected to witness high demand going forward.
The U.S. healthcare staffing market players are also focusing on international expansion into fast-growing markets like Canada, the U.K., Australia, and Germany due to favorable reimbursement policies, expanding healthcare infrastructure, and a shortage of skilled local professionals in these countries.
Market Drivers
Growing geriatric population: The increase in the aging population is a major driver fueling the U.S. Healthcare Staffing Market Size and Trends. The population aged 65 years and above is projected to double from 52 million to over 95 million by 2060. This age group has increased susceptibility to chronic diseases requiring long-term care.
Increasing clinical workload: Heightened clinical workload due to factors like rising disease incidence, need for specialized services, shortage of healthcare professionals, and regulatory requirements is propelling healthcare organizations to hire agency staff to effectively deal with workload fluctuations.
Market Restraints
High turnover of traveling nurses: High turnover of traveling nurses hired through staffing agencies results in increased costs related to frequent recruitment and training of replacement staff. This acts as a major restraint for healthcare facilities relying on temporary or contract staffing.
Limited benefit coverage: Most temporary healthcare staff employed through staffing agencies do not receive comprehensive health insurance and paid leave benefits provided to permanent employees. This restricts the ability to retain qualified temporary staff.
Segment Analysis
The U.S. healthcare staffing market is dominated by allied health professionals segment. This sub segment accounts for more than 40% share of the overall market. There is a rising demand for allied health professionals like physical therapists, occupational therapists, speech pathologists, etc. due to growing geriatric population and prevalence of chronic diseases in the country. Allied health professionals provide therapeutic services mainly focused on physical rehabilitation which is one of the key services required in the healthcare facilities.
Global Analysis
The Western region dominates the U.S. healthcare staffing market and accounts for around 60% share. States like California, Texas, Florida have high density of healthcare facilities like hospitals, nursing homes, assisted living centers. These states face acute shortage of healthcare staff and considerable job opportunities which attract healthcare professionals from across the country and globally. The Southern region is the fastest growing market and is expected to witness a CAGR of around 5% during the forecast period. States in this region like North Carolina, Georgia, Tennessee are witnessing increased investments in healthcare infrastructure to cope up with rising healthcare needs.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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