The healthcare staffing market in US is expected to cross $28 billion by 2023.
CHICAGO, IL, UNITED STATES, December 6, 2017 /EINPresswire.com/ — Increasing demand for registered nurses and other medical professionals in the US healthcare ecosystem is likely to drive the healthcare staffing market in US to cross $28 billion by 2023, growing at an unprecedented CAGR of 9.3% during the period 2017–2023.
The industry in the US is witnessing a shortage of nurses in the country. Despite the fact that registered nurses are among the single largest healthcare professionals in the country, the vacancy rate for registered nurses is growing. AMN, CHG, Cross Country, and Jackson are the leading vendors in the market.
The US has been witnessing a diminishing pipeline of new recruits in the nursing industry. Low admissions in nursing schools due to the shortage of faculty, aging population of registered nurses, and increase in the percentage of US population covered under medical insurance and requiring medical assistance are factors that are driving the healthcare staffing market in the US.
Healthcare Staffing Market in US: Key Vendor Analysis
The market in the US is highly fragmented with the presence of large, medium, and small-sized vendors. Historically, the market has always shown a low level of concentration. However, since the last two years, the competitive landscape has completely changed.
Although the market is characterized by the presence of diversified vendors offering their services across the country, as these players would increase their footprint in the market, local players would be finding it increasingly difficult to compete with them, especially in terms of features such as service quality, geographical reach, and the client base. The report profiles the leading players in the market and provides a complete value chain analysis of the market.
The major vendors included in the report are as follows:
CHG Healthcare Services
Cross Country Healthcare
Other prominent vendors in the market include Accountable Healthcare Staffing, Aureus Medical Group, Aya Healthcare, Favorite Healthcare Staffing, InGenesis, Healthcare Staffing Services, Maxim Healthcare Services, Medical Solutions, MedPartners, HealthTrust Workforce Solutions, Soliant Health, Supplemental Health Care, Trustaff, and Vista Staffing Solutions.
Other vendors mentioned in the report are ACCESS Healthcare Services, Addison Group, Advanced Medical Personnel Services , A-Line Staffing Solutions, All Medical Personnel , Ardor Health Solutions, ATC , CareerStaff Unlimited (Genesis) , Cirrus Medical Staffing , CoreMedical Group , D&Y (Team Health) , Emerald Health Services , Health Carousel , HealthCare Support , Interim HealthCare , Kelly Services , LiquidAgents Clinical Staffing Solutions , Loyal Source, Medicus, Medix, Mint Physician Staffing, Nightingale Nurses, PrideStaff, The Delta Companies , The Execu|Search Group, The Judge Group, Therapy Source, Travel Nurse across America , Trinity Healthcare Staffing Group , and Yoh.
US Healthcare Staffing Market: Dynamics
Rapid growth in overall insured lives and rise in aging population to drive the market growth
The increase in the number of medical jobs has been steady in the last 25 years. However, since 2010, the market has been witnessing an increase in demand for medical vacancies. The implementation of ACA in the US was the fueling factor for the growth of the healthcare staffing market in US.
Fueled by an increasing patient census in the US, the market witnessed increased demand for temporary staffing services to mitigate the shortage of nurses and physicians in the health settings. This boosted the demand for temporary staffing services. This trend will continue over the next few years and will make medical staffing as one of the leading employment sectors in the US. Furthermore, increased market consolidation and shift toward ambulatory services from inpatient services are also likely to add to the market growth during the forecast period.
Healthcare Staffing Market in US: Segmental Analysis
Nurses staffing segment to witness maximum growth
The implementation of ACA in 2010 and the increase in the population percentage covered under medical insurance have driven the demand for nursing staffs in the US. This trend is expected to continue over the next few years. There is a high demand for travel and per diem nurses in the US because of factors such as more number of people gaining health coverage under the ACA and an invigorated US economy. ACA has created a surge in nursing demand as people are seeking out proper health insurance and obtaining effective medical care. The increase in medical care usage has contributed to a high patient turnover in hospitals.
Although the demand for allied health staff is expected to show a considerable increase, the nurses segment will be the major staffing segment in the market in the US. As more physicians are choosing to work as locum tenens and also as a full-time option in the country, the demand for locum tenens is witnessing a rapid growth in the market. Similarly, in terms of the end-user segment, hospitals will constitute the maximum share followed by the pharmaceutical client segment.
This report provides the details of the market size in revenue and includes a detailed market segmentation of the market by the following segments:
Nursing (Travel and Per Diem)
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Source: EIN Presswire