The temporary healthcare staffing market provides staffing solutions to address fluctuations in patient volumes, temporary gaps in vacant positions, and extended absences in healthcare facilities. Temporary staffing services help provide cost savings by making personnel expenditure variable based on demand. Licensed nurses, pharmacists, respiratory therapists, and imaging technologists constitute the major temporary staffing requirements in hospitals and clinics. The temporary nature of staffing enables healthcare organizations to manage costs while meeting quality standards.
The Global Temporary Healthcare Staffing Market Size is estimated to be valued at US$ 58.01 BN in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the temporary healthcare staffing market are SOLIANT HEALTH, Envision Healthcare, Maxim Healthcare Services, CHG Management, Inc., Cross Country Healthcare, TeamHealth, Jackson Healthcare, Aureus Medical, LocumTenens, Trustaff, Aya Healthcare, Vibra Healthcare, Ample Healthcare, Acacium Group, SnapNurse, and AMN Healthcare.
The key opportunities in the market include addressing shortages for specialized healthcare roles like physicians and nurses. There is also a rising need for travel nurses and allied staff to support hospitals during seasonal surges in patient numbers. Telehealth capabilities are also expanding the addressable market for staffing companies.
The temporary healthcare staffing market is expanding globally driven by aging populations demanding more care. Countries in Asia Pacific and Latin America are witnessing higher spending on healthcare which will augment demand. Staffing companies are also partnering with medical colleges to recruit candidates early and strengthen talent pipelines.
Market drivers
Rising healthcare expenditure is a key driver for the temporary healthcare staffing market. Per capita healthcare spending is steadily increasing in major markets to provide universal access to healthcare. This is straining existing staff resources and boosting demand for temporary staff augmentation services. According to WHO, global healthcare spending is estimated to reach USD 18.28 Trillion in 2040 from USD 8.33 Trillion in 2020, indicating higher opportunities.
PEST Analysis
Political: Governments regulations around healthcare staffing play a major role. Regulations around licensing, quality standards, worker protections impact the market.
Economic: Economic cycles impact demand from healthcare facilities. During recessions hiring and project budget tend to be reduced which impacts staffing demand.
Social: Aging population and growing demand for healthcare drives need for temporary staffing solutions. Work-life balance preference increasesgig economy jobs like temporary healthcare roles.
Technological: Technology allows more efficient workflows and matching of candidates to jobs. Digital platforms help streamline compliance tracking and payroll processing for temporary staffing agencies. Electronic health records need also impact staffing demand.
Geographical concentration
The United States accounts for the major share of the global temporary healthcare staffing market in terms of value. This is due to the large healthcare industry, growing healthcare costs, and demand for flexible workforce solutions from hospitals and other providers. However regional demand varies with growing and developed healthcare markets across different states.
Fastest growing region
The Asia Pacific region is projected to experience the fastest growth in the temporary healthcare staffing market during the forecast period. This is due to increasing healthcare infrastructure, expanding medical tourism industry and growing medical requirements of aging populations in major countries like China and India resulting in heightened demand for qualified healthcare professionals and flexible workforce solutions.
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