United States Healthcare Staffing Market is Projected to Grow to $31.1 billion by 2028, at a CAGR of 3.71%

DUBLIN, Jan. 27, 2022 /PRNewswire/ -- The "U.S. Healthcare Staffing Market Size, Share & Trends Analysis Report by Type (Travel Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing, Per Diem Nurse Staffing), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The U.S. healthcare staffing market size is expected to reach USD 31.1 billion by 2028. It is expected to expand at a CAGR of 3.71% from 2021 to 2028. The increasing geriatric population is leading to rising demand for medical services and a shortage of nurses and other medical staff. The cost-effectivity of temporary staffing is likely to drive the market in the coming years.

The geriatric population in the U.S. is gradually increasing. According to the National Institutes of Health, the number of people aged 65 years and above in the U.S. is projected to nearly double from 48 million to 88 million by 2050. This rising geriatric population is anticipated to increase the burden on the current medical workforce, creating a gap between the demand and supply of medical professionals.

According to the Bureau of Labor Statistics (BLS), around 500,000 nurses will retire over the next few years. Additionally, according to the Association of American Medical Colleges, there will be a shortage of around 21,000 to 55,200 primary care doctors by 2032. A shortage of physicians in the coming years is likely to drive the market. In addition, an increasing need for a home care workforce, such as dieticians, nutritionists, nurses, therapists, and home care aides, is expected to boost the market growth.

Technological advancements are driving healthcare employment. With the advent of various innovations, such as telehealth and medical informatics, the need for skilled labor to handle both technical and non-technical aspects of these devices has increased. Hence, recruitment of new professionals along with training of existing ones has become essential. The flexibility in work timings and attractive wages are primary reasons for increasing the number of nurses becoming per diem and travel nurses.

Furthermore, the rising number of medical facilities and new construction projects are anticipated to create more jobs for medical professionals. For example, in April 2021, the U.S. Department of Health and Human Services (HHS) announced USD 1 Bn to support health centers' construction and renovation projects from the American Rescue Plan. The aforementioned factors are anticipated to propel market growth.

During the COVID-19 pandemic, demand for staffing services and workforce technology solutions increased dramatically. The increasing incidence of COVID-19 infection significantly fueled the demand for travel and per diem nurses. According to a poll conducted by Avant Healthcare Professionals, 90% of the medical facilities accepted using travel nurses for the management of COVID-19 patients in 2020, compared to less than 60% in 2019. On the other hand, the demand for locum tenens specialists and allied health professionals decreased due to the cancellation of elective surgeries.

U.S. Healthcare Staffing Market Report Highlights

• The travel nurse staffing type segment dominated the market in 2020. High demand for nurses during flu seasons, travel opportunities, and nurse shortage is expected to drive the segment. For instance, the U.S. Bureau of Labor Statistics (BLS), there will be a need for over 1.1 million new registered nurses by 2022
• The locum tenens staffing type segment is anticipated to witness the highest growth over the forecast period owing to the cost-effectiveness of hiring temporary employees and an increase in the trend of physicians opting for becoming locum tenens
• According to Staff Care's 2020 Survey of Temporary, Physician Staffing Trends report estimates that around 85% of the U.S. medical groups, hospitals, and medical facilities used locum tenens in 2019
• Mergers, collaborations, and acquisitions are the key strategies undertaken by the players to improve their market position. In November 2019, HNI Healthcare, Inc. acquired Martin Healthcare Group, a private company working across Florida and the Midwest, to expand its reach in the Midwest region of the U.S.

Companies Mentioned

• Envision Healthcare Corporation
• AMN Healthcare
• HG Management, Inc.
• Maxim Healthcare Group
• Cross Country Healthcare, Inc.
• Aya Healthcare
• Trustaff
• TeamHealth
• Adecco Group
• LocumTenens.Com

Key Topics Covered:

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Research Methodology
1.3 Information Procurement
1.4 Information or Data Analysis
1.5 Market Formulation & Validation
1.6 Model Details
1.7 List of Secondary Sources
1.8 List of Abbreviations
1.9 Objectives

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights

Chapter 3 Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.2 Market Dynamics
3.2.1 Market Driver Analysis
3.2.1.1 Shortage of healthcare staff
3.2.1.2 Rising geriatric population
3.2.1.3 Increasing number of healthcare facilities resulting in job creation
3.2.1.4 Adoption of workforce solutions
3.2.1.5 High flexibility and exposure
3.2.2 Market Restraint Analysis
3.2.2.1 Stringent regulations
3.2.2.2 Less job security
3.3 Business Environment Analysis Tools
3.3.1 U.S. Healthcare Staffing- PESTEL Analysis
3.3.1.1 Political landscape
3.3.1.2 Economic and social landscape
3.3.1.3 Technology landscape
3.3.2 U.S. Healthcare Staffing- Porter's Five Forces Analysis
3.3.2.1 Competitive rivalry: High
3.3.2.2 Threat of new entrants: Moderate
3.3.2.3 Bargaining power of buyers: Moderate
3.3.2.4 Bargaining power of suppliers: Low
3.3.2.5 Threat of substitutes: Low
3.4 Penetration & Growth Prospect Mapping
3.5 Regulatory Scenario
3.6 List of Few Healthcare Staffing Providers in the U.S.
3.7 Major Deals & Strategic Alliances
3.8 Impact of COVID-19: Qualitative Analysis

Chapter 4 U.S. Healthcare Staffing Market: Type Analysis
4.1 U.S. Healthcare Staffing Type Market Share Analysis, 2020 & 2028
4.2 Segment Dashboard:
4.3 Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the Type Segment
4.3.1 Travel Nurse Staffing
4.3.2 Per Diem Nurse Staffing
4.3.3 Locum Tenens Staffing
4.3.4 Allied Healthcare Staffing

Chapter 5 Competitive Analysis

For more information about this report visit https://www.researchandmarkets.com/r/d9wi5s

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