PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424476
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424476
The global temporary healthcare staffing market size is expected to reach US$ 80.10 Bn by 2031 from US$ 58.80 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 58.80 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024-2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 0.00% | 2030/2031 Value Projection: | US$ 80.10 Bn |
The temporary healthcare staffing market caters to the demand for skilled medical professionals on a contingent basis. Healthcare facilities have increasingly relied on temporary personnel to fill staffing gaps and accommodate fluctuations in patient volumes. This has proved beneficial for both employers seeking flexible workforce solutions as well as practitioners valuing schedule flexibility. Staffing firms efficiently match credentialed clinicians like nurses, therapists, and physicians with temporary job openings based on location, skills, and experience. The market has grown in response to factors like an aging population, increasing the demand for medical services, nurse shortages exacerbated by the pandemic, and providers' aim to optimize costs by leveraging temporary labor during high-volume periods. Travel nurse staffing, per diem nurse staffing, locum tenens staffing, and allied healthcare staffing are the types of temporary healthcare staffing.
The temporary healthcare staffing market is driven by shortages of nurses and other medical professionals across the globe. This is compelling healthcare facilities to augment capacity through supplemental temporary workers. The rising geriatric patient pool and complex care requirements have intensified demand. However, nurse burnout and lack of adequate compensation act as key restraints on permanent staffing levels. This has opened opportunities for agencies recruiting skilled temporary staff. The COVID-19 pandemic accelerated the market growth as facilities brought on additional contract workers to handle virus cases. New models like telehealth services requiring virtual staff are emerging. Healthcare reforms emphasizing cost-efficiencies and demand for specialized services are widening the scope for temporary clinical staffing. On the other hand, regulatory hurdles for international medical professionals and immigration restrictions pose challenges.