PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477096
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477096
Healthcare Staff Augmentation Market size was valued at USD 107,795.8 Million in 2023, expanding at a CAGR of 12.5% from 2024 to 2032.
To alleviate staffing shortages, satisfy rising demand, or cover specific skill gaps, healthcare organizations may choose to augment their workforce with temporary or contract workers. This technique is known as healthcare staff augmentation. Allied health professionals, physicians, nurses, administrative personnel, and other healthcare workers are examples of these professionals. For both long-term projects and efforts as well as temporary needs like filling in for absent employees, staff augmentation can be used. To maintain high standards of patient care, support the smooth running of healthcare institutions, and guarantee appropriate staffing levels, healthcare staff augmentation is used.
Healthcare Staff Augmentation Market- Market Dynamics
Rising importance of specialized expertise drives market growth
The growing importance of specialized knowledge and skills in the healthcare industry suggests that people with these kinds of skills and knowledge are needed. With advancements in medical technology, complex treatments, and specific patient populations, healthcare providers need experts who can provide individualized care and make informed decisions. Specialized expertise ensures improved patient outcomes, accurate diagnosis, and effective treatment approaches. Additionally, specialized specialists support advancements in their fields through research and invention. The growing need for advanced training and specialist certifications among healthcare professionals is fueled by the increasing significance of specialized knowledge, which encourages teamwork and multidisciplinary approaches to healthcare delivery.
Healthcare Staff Augmentation Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2032)
Based on service type segmentation, the outsourced staffing segment is expected to capture the largest revenue share over the projected period
Based on end-use segmentation, the hospitals segment is expected to dominate the market over the projected period
Based on region, North America is expected to dominate the market over the forecast period
The Global Healthcare Staff Augmentation Market is segmented based on Service Type, End-use and Region.
Based on the service type, the Healthcare Staff Augmentation market is bifurcated into Permanent Staffing, Temporary Staffing, Contract Staffing and Outsourced Staffing. The Outsourced Staffing segment is expected to capture the largest revenue share over the projected period. Healthcare businesses can adjust their workforce size in response to fluctuating demand through outsourcing, which spares them the overhead and long-term commitment of hiring new employees permanently. When specialized abilities are required for short-term initiatives or when patient numbers fluctuate, this agility is very essential.
Based on the end-use, the global Healthcare Staff Augmentation market is segmented into Hospitals, Clinics and Others. The hospital segment is expected to dominate the market over the projected period. A wide variety of healthcare workers with specific training and experience are needed in hospitals, such as nurses, doctors, allied health professionals, and administrative personnel. Hospitals can access specialists with specialized training and expertise through staff augmentation services, guaranteeing that they have the necessary personnel to address patient demands in a range of departments and specializations.
Healthcare Staff Augmentation Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market over the forecast period. In certain geographic and specialist sectors, there is a scarcity of healthcare workers in North America. The ageing workforce, unequal distribution of healthcare experts, and rising healthcare costs are some of the factors causing these shortages. One way to alleviate these shortages is through staff augmentation, which sends skilled workers to areas that need them fast.
The key players operating in the market are Cross Country Healthcare, AMN Healthcare, CHG Healthcare Services, Adecco Group, TeamHealth (a subsidiary of Blackstone Group), Maxim Healthcare Services, Envision Healthcare Corporation, Medical Solutions and Jackson Healthcare. These players adopted various strategies to gain major market share in the industry including product launches, acquisitions, collaboration and others.
In May 2023, Cross Country Healthcare, Inc., a market-leading, technology-enabled workforce solutions platform, and advisory firm, today announced the release of the Xperience mobile app, which enables healthcare professionals to easily search and apply for jobs, set up notifications, gain access to a live recruiter, upload references, complete skills checklists, and access onboarding documents, paystubs, timesheets, and all other onboarding and assignment-related information.
GLOBAL HEALTHCARE STAFF AUGMENTATION MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Cross Country Healthcare
AMN Healthcare
CHG Healthcare Services
Adecco Group
TeamHealth (a subsidiary of Blackstone Group)
Maxim Healthcare Services
Envision Healthcare Corporation
Medical Solutions
Jackson Healthcare