Healthcare Staffing Market to Reach $65.92 Billion by 2030, Report Finds
Published by Coherent Market Insights, the report shared the healthcare staffing market was valued at $36.89 billion in 2022.
The global healthcare staffing market is expected to reach more than $65 billion by 2030, a compound annual growth rate (CAGR) of 7.6% from 2023, according to a new report. Published by Coherent Market Insights, the report shared the healthcare staffing market was valued at $36.89 billion in 2022.
The healthcare staffing market consists of organizations that provide skilled medical professionals either temporarily or permanently to healthcare facilities like hospitals, nursing homes and private practices.
As a result of early COVID-19 pandemic losses and burnout, many healthcare facilities globally are still facing staff shortages due to current factors such as an aging healthcare workforce, inadequate training programs and limited availability of specialized healthcare professionals.
The healthcare staffing market is driven by two key factors, according to the report.
One factor includes the increasing demand for qualified healthcare professionals. The rising global population, along with the growing prevalence of chronic diseases has led to an increased demand for healthcare services. As a result, healthcare facilities are continuously seeking healthcare professionals such as doctors, nurses, and medical technicians to fulfill this demand.
However, finding qualified healthcare professionals remains a challenge for healthcare facilities, creating a heightened demand for healthcare staffing services.
Another key factor is the advancement in technology that is also expected to drive market growth. Healthcare staffing agencies supply skilled professionals experienced in the latest medical technologies, improving patient care and optimizing operations in healthcare facilities through effective technology management.
In an article shared in Managed Healthcare Executive in December 2023, a report by Zivian health, Inc. revealed the need for technological solutions in response to the high demand for healthcare professionals.
Rafid Fadul, MD, founder and CEO of Zivian, said in the article that “the staffing shortage has created a tipping point in healthcare that only technology can solve.”
“We are witnessing firsthand where digital healthcare solutions are improving patient care and reducing burnout among providers.”
According to Fadul, five trends he believes are transforming digital healthcare include:
- AI Revolution: Artificial Intelligence is set to transform healthcare, freeing professionals from paperwork, streamlining tasks, and improving the precision of medical records.
- Entrepreneurship Boom: Physicians are embracing software as a service (SaaS) platform for lucrative collaborations, while nurse practitioners are using SaaS technology to launch their healthcare ventures, ushering in a new era of entrepreneurship.
- Mobile Accessibility: Mobile-friendly SaaS platforms bridge healthcare accessibility gaps, enabling secure access, collaboration, and communication via smartphones and tablets—enhancing flexibility and efficiency, particularly in healthcare deserts.
- Data Security and Compliance: SaaS platforms prioritize robust data security and compliance with healthcare regulations, ensuring protection of patient information. Secure messaging tools, compliant with regulations like HIPAA, facilitate secure communication among NPs, PAs and doctors.
- Real-time Collaboration Tools: SaaS platforms integrate with remote monitoring devices, allowing healthcare providers to track patient vitals and chronic conditions remotely. Features like video conferencing, screen sharing, digital translations and interactive whiteboards facilitate virtual collaboration.
In a report published in Forbes in December 2023, some solutions suggested to improve workforce retention and acquisition overall include:
- Provide scalable and data-driven residency programs.
- Offer high-quality preceptor training.
- Tailor schedules to strengthen the clinical workforce pyramid.
- Develop relevant and accessible programs.
- Make realistic targets and stick to them.
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