June 17, 2024

The Global Temporary Healthcare Staffing Market is projected

The global temporary healthcare staffing market is poised to grow significantly owing to the widespread need for flexible staffing solutions in the healthcare industry. Temporary healthcare staffing enables healthcare providers to address fluctuations in patient volume and staff availability. Benefits such as lower recruitment and training costs along with the ability to fulfill specialized or short-term staffing needs are fueling the demand for temporary healthcare staffing services globally.

The Global Temporary Healthcare Staffing Market 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: Key players operating in the temporary healthcare staffing market include 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.

Growing demand: The growing need for cost-effective and flexible staffing solutions across healthcare facilities is propelling the demand for temporary healthcare staffing services. Temporary staff helps address the lack of skilled clinical staff and reduces pressure during peak seasons.

Global expansion: Leading Temporary Healthcare Staffing Market Size companies are expanding globally through mergers and acquisitions to leverage growth opportunities. Healthcare infrastructure development in emerging nations is facilitating their expansion plans through partnerships with local stakeholders.

Market key trends: One of the key trends gaining traction in the temporary healthcare staffing market is the rising preference for travel healthcare staffing. Travel nurses allow hospitals to quickly fill staffing gaps across service lines with specialized skillsets. Their deployment helps avert nurse burnout and retains permanent talent within healthcare organizations.

Porter’s Analysis
Threat of new entrants: Temporary Healthcare Staffing industry requires high upfront capital investment and long term experience in this sector to hire and retain experienced healthcare professionals. Bargaining power of suppliers: Suppliers in this industry are healthcare professionals like nurses, physicians etc. Their bargaining power is low as there are numerous staffing agencies to choose from. Bargaining power of buyers: Buyers in this industry are hospitals, clinics, private practices etc. Their bargaining power is high as they can negotiate on pricing and demand staff with specialized skills. Threat of new substitutes: There are few substitute available for temporary staffing other than permanent hiring or outsourcing certain functions to third parties. Competitive rivalry: The industry is highly fragmented with large number of regional and local players competing on service quality and pricing.

Geographical Regions: North America captured the major share in the global temporary healthcare staffing market in terms of value in 2021. This is attributed to factors such rapid technological advancements and rising penetration of telehealth services in the region. The Asia Pacific region is poised to witness the fastest growth rate during the forecast period from 2024 to 2031. Rising medical tourism and growing healthcare infrastructure especially in India and China is supporting the market growth.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it