by The U.S. healthcare staffing market plays a vital role in connecting healthcare providers with qualified and skilled nursing professionals and other allied healthcare workers. Healthcare staffing agencies help fill temporary and permanent staffing needs across various healthcare facilities such as hospitals, clinics, home care agencies, assisted living and nursing homes. There is growing demand for nurses, therapists, healthcare executives and other medical professionals due to increasing volume of patients, physician shortages, rising healthcare costs and implementation of Affordable Care Act. However, there is a significant gap between demand and supply of skilled healthcare workers in the country.
The global U.S. Healthcare Staffing Market is estimated to be valued at US$ 21.33 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The key trends in the U.S healthcare staffing market include rising preference for traveling nurses, growing demand for allied healthcare professionals and increased focus on telehealth and remote patient monitoring. The COVID-19 pandemic has exacerbated the existing nursing shortage in the country and there has been sharp rise in demand for temporary or traveling nurses who are willing to travel or relocate to hotspots. Moreover, with aging population there is increasing demand for therapists, home health aides, medical assistants and other allied healthcare professionals to assist nurses. Furthermore, with the rise of telehealth, remote patient monitoring and digital health solutions, there is growing need for telehealth nurses, virtual healthcare assistants and other telehealth professionals.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the U.S Healthcare Staffing Market is low as this is an already established industry and requires high initial investment.
Bargaining power of buyers: The bargaining power of buyers in the U.S Healthcare Staffing Market is high as buyers have several options and are price sensitive.
Bargaining power of suppliers: The bargaining power of suppliers in the U.S Healthcare Staffing Market is moderate as staffing agencies require trained workforce for their operations.
Threat of new substitutes: The threat of substitutes in the U.S Healthcare Staffing Market is low as there are limited alternatives for outsourcing staffing needs.
Competitive rivalry: The competitive rivalry in the U.S Healthcare Staffing Market is high as the industry players compete on factors such as service quality, expertise, price, and reputation.
Key Takeaways
The global U.S. Healthcare Staffing Market Share is expected to witness high growth. The western and southern regions are currently the fastest growing and largest markets for healthcare staffing in the U.S.
Regional analysis: The western region holds the largest share in the U.S. Healthcare Staffing Market currently. California and Texas contribute significantly to market revenues owing to their large population and high demand for healthcare staffing services. The southern region is also growing at a brisk pace led by states like Florida and North Carolina.
Key players: Key players operating in the U.S. Healthcare Staffing Market are Solvay SA, Nippon Chemic. Solvay SA is one of the largest players in the market with expertise across various healthcare professional categories. Nippon Chemic also enjoys a strong brand presence and reputation in key markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
