by The temporary healthcare staffing market provides skilled clinical staff to healthcare facilities on a temporary basis. Temporary healthcare staffing allows hospitals and other healthcare facilities to fill vacancies on a short-term basis until permanent placements are made. It also helps facilities manage fluctuations in patient loads. The market covers different types of medical professionals supplied on a temporary basis, including physicians, nurses, allied healthcare professionals, and non-clinical support staff.
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 operating in the temporary healthcare staffing 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 Temporary Healthcare Staffing Market Size include addressing the shortage of healthcare professionals and economic benefits provided by temporary staffing agencies. Temporary staffing allows healthcare facilities to mitigate financial risks associated with full-time hiring during uncertain economic conditions.
Advances in healthcare IT are changing the way temporary staff are recruited and deployed. Increased adoption of staffing management software and mobile apps allow agencies and facilities to streamline their workflows. Cloud-based solutions provide on-demand access to profiles of temporary clinical professionals.
Market Drivers
The growing shortage of healthcare professionals across the world is a key driver for the temporary healthcare staffing market. Healthcare facilities rely on temporary staffing agencies to fill vacancies due to lack of full-time candidates with required skills and experience. According to WHO estimates, there is a global shortage of over 15 million healthcare workers. The temporary staffing market helps address this shortage by providing skilled clinical professionals on an on-call basis.
Current challenges in Temporary Healthcare Staffing Market
The temporary healthcare staffing market is facing challenges due to shortage of nursing staff. There has been an increase in demand for nurses to provide care to patients with complex needs. However, the supply of nurses has not kept pace with this rising demand. This has resulted in shortage of nurses which in turn poses challenges for temporary healthcare staffing firms to recruit qualified nurses on temporary basis. Another challenge is high attrition rate among temporary nursing staff. Many temporary nurses prefer to seek permanent positions which leads to high turnover for staffing firms. This impacts continuity of care. Regulatory compliance also poses an operational challenge for staffing companies due to frequent changes in rules and policies.
SWOT Analysis
Strength: Wide pool of potential candidates and ability to quickly staff large projects. Temporary staffing enables efficient management of fluctuating workload.
Weakness: High dependency on market conditions and demand fluctuations. Difficult to retain experienced temporary staff for long term.
Opportunity: Ageing population driving robust demand for healthcare workers worldwide. Rising acuity levels increasing need for advanced skills.
Threats: Economic slowdowns can sharply impact discretionary spend on temporary staff. Stringent regulations around licensing, wages add to compliance burden.
In terms of value, North America accounts for the largest share in the temporary healthcare staffing market currently. This is attributed to factors such as ageing population, increasing health expenditures, growing emphasis on cost control by healthcare facilities in the region. Asia Pacific region is expected to witness the fastest growth during the forecast period supported by expanding medical tourism industry and rising investments to strengthen healthcare infrastructure in many countries.
The temporary healthcare staffing market in the United States holds the highest value currently. This can be attributed to presence of advanced healthcare systems, high healthcare expenditure and shortage of nurses which are driving demand for temporary nurses in the country. Germany accounted for the second largest share in Europe due to growing aging population, higher life expectancy and strategic initiatives to boost funds towards healthcare sector.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
