Healthcare Staffing Market Is Estimated To Witness High Growth Owing To Growing Demand For Healthcare Professionals

The Healthcare Staffing Market is estimated to be valued at US$ 36.89 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics:

The market is primarily driven by the increasing demand for healthcare professionals in various healthcare settings such as hospitals, nursing homes, and assisted living facilities and home health care facility Millions of new jobs have been added. Factors such as a growing aging population the increasing prevalence of chronic diseases and advances in medical technology and treatment options are increasing the demand for healthcare professionals around the world.

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Key Market Trends:

Horizontal consolidation trend among healthcare staffing agencies 

Trends in horizontal integration of medical personnel between agencies a key trend in the healthcare staffing market is the increase in acquisitions and mergers between industry players. Large healthcare organizations are pursuing inorganic growth strategies through strategic acquisitions of regional players to expand their service portfolios and geographic footprints.

 For example, in December 2020 AMN Healthcare acquired b4health Group to further enhance its position and offerings in telehealth and other virtual care offerings.

The demand for travel nurses is increasing. Another important trend contributing to the market growth is the increasing demand for travel nurses. The travel nursing sector has grown significantly in recent years. Because of the adventure work life balance higher salary and housing allowances for nurses and other benefits.

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Travel Nursing

The travel nursing segment is expected to witness significant growth during the forecast period. Factors such as flexibility, work-life balance and high pay have made travel nursing an attractive career choice. The nursing shortage situation across the world has further increased the demand for travel nurses. Hospitals and other healthcare facilities are relying more on staffing agencies to fulfill their temporary and project-based nursing requirements. The travel nursing market was valued at USD 12.29 billion in 2024 and is projected to reach USD 20.53 billion by 2031, growing at a CAGR of 6.2% during the forecast period.

Locum Tenens Staffing

Locum tenens, or temporary medical staff, help address gaps in doctor coverage due to letters vacation or unsuccessful job positions providing hospitals with a flexible staffing solution without a long-term commitment, the locum tenens staffing market was valued at US$6.89 billion in 2024 and is expected to reach US$11.66 billion by 2031, growing at a CAGR at 5.9% during the forecast period. Medical tourism and the complexity of patient cases are driving the demand for locum doctors.

Key Market Takeaways

Search by service type

The travel nurse staffing segment has the largest market share at 35% in 2024. Higher pay packages and flexible work schedules make travel nursing a popular career choice among nurses during the A few years ago, by 2031, the travel nurse staffing segment is expected to be worth $7.29 billion, representing a 6.2% increase over the forecast period, increasing at a CAGR.

By Geographical Insights

North America will dominate the healthcare staffing market with over 45% share in 2024 due to increasing medical tourism. Nursing shortage and the high demand for local doctors US travel nursing staffing market it is expected to be worth Rs 5.46 billion by 2024, increasing at a CAGR of 6.1% during the forecast period. It is expected to reach $9.15 billion by 2031.

Competitor Insights:

Adecco Group

Aya Healthcare

AMN Healthcare

CHG Management, Inc

Cross Country Healthcare

Syneos Health

Maxim Healthcare Group

Recent Developments in Healthcare Staffing Market

Mergers and Acquisitions: The Market has been highly active in mergers and acquisitions to address growing demand and diversify services. Companies like acacia group acquired sumo medical staffing in September 2023, while premier health of America acquired solutions staffing in July 2023. These Moves Aim to strengthen market presence and expand offerings.

Burnout And Aging Workforce: High levels of burnout among nurses 56% reported in 2023 and a significant portion of physicians nearing retirement are key drivers of market expansion pushing facilities to rely on external staffing solutions.

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.