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Healthcare Staffing Market to Reach USD 43.6bn by 2025, Grand View Research Forecasts.

M2 PHARMA-December 13, 2017-Healthcare Staffing Market to Reach USD 43.6bn by 2025, Grand View Research Forecasts

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- The global healthcare staffing market is expected to reach USD 43.6bn by 2025, according to a report by US-based market research and consulting company Grand View Research, Inc.

A rising geriatric population has increased the demand for healthcare services around the globe. However, there is a shortage of efficient nurses and other healthcare professionals.

Shortage of physicians in the coming years is likely to boost the demand for healthcare staffing market in developed regions over the forecast period.

For instance, Association of American Medical Colleges had predicted in 2010 that the US is anticipated to face a shortage of 150,000 doctors over the next 10 to 15 years.

Furthermore, availability of skilled professionals at lower costs as and when required is anticipated to propel the market growth in the coming years.

Furthermore, in response to the pressure of costs, hospitals are forced to reduce their staff and have implemented policies to ensure that nurses would be available for work when the workload increases.

The staffing market has sufficient penetration and can easily provide staff during emergencies.

Flexible schedules, short-term assignments, travel opportunities, and clinical experience at various locations are some of the reasons owing to which healthcare staff prefers to work as locum tenens or travel nurses. Thus, increasing preference of staff to work temporary is anticipated to further boost the market growth.

A shortage of healthcare staff and a rise in demand of healthcare services are expected to propel market growth with a CAGR of 5.4% from 2017 to 2025

The allied healthcare segment accounted for the largest share of the market in 2016. It includes physical therapists, medical technologists, occupational therapists, respiratory therapists, pharmacists, and phlebotomists.

This can be attributed to higher demand and increase in geriatric population.

The locum tenens segment is expected to witness the fastest growth during the forecast period.

This can be attributed to cost-effectiveness for employers and an increase in the number of physicians choosing to work as locum tenens due to short-term assignments, flexible schedules, and varied clinical experience

Geographically, North America was the largest market for healthcare staffing in 2016.

Furthermore, it is anticipated to maintain its dominance during the forecast period due to increase in geriatric population, lack of skilled professionals as compared to demand, and local presence of several market players.

Asia Pacific is projected to witness the fastest growth during the next decade due to increase in investments by several market players, positive economic outlook, and increasing awareness about contract staffing.

Some of the key players are Envision Healthcare Corp.; AMN Healthcare; CHG Management, Inc.; Maxim Healthcare Services, Inc.; Cross Country Healthcare, Inc.; inVentiv Health; Almost Family; TeamHealth; and Adecco Group.

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