Nurse staffing Market

Global Nurse Staffing Market Overview:

Global Nurse Staffing Market is valued at USD 44.9 Billion in 2024 and it is expected to reach USD 64.4 Billion by 2030 with a CAGR of 6.20% over the forecast period. The nurse staffing market thrives due to rising healthcare demand stemming from aging populations and chronic illnesses. Nurse shortages from retirements, pandemic impacts, and regulatory mandates further boost demand.

What is the Scope of the Global Nurse Staffing Market?

Nurses are essential in the promotion of health, the prevention of disease, and the provision of primary and community healthcare. They deliver care in urgent situations and are essential to the realization of universal health coverage. In the past and in the present, nurses have been in the vanguard of the fight against diseases and pandemics that pose a threat to global health. But, according to a report by world health organization there is a global shortage of health workers, in particular nurses and midwives, who represent more than 50% of the current shortage in health workers. The global nurse staffing market often includes the recruitment and placement of nurses from one country to another. This market extends across countries and regions, connecting healthcare facilities in need of nursing staff with qualified nurses from around the world. It encompasses both domestic and international staffing solutions.

Nurse staffing covers various nursing specialties, including critical care, pediatrics, oncology, surgical, psychiatric, and more. Staffing agencies aim to match nurses with the specific skills and expertise required by healthcare facilities. Around the world nurses are demonstrating their compassion, bravery and courage as they responded to the COVID-19 pandemic in the early stages of the COVID-19 pandemic, nurses were seen as ""heroes"" for their desire to save lives, act as humanitarians, and confront perilous conditions. In regions prone to wildfires, such as California and Australia, nurses have been involved in disaster response by providing medical care to individuals affected by smoke inhalation, burns, and other injuries. They have also worked in evacuation shelters, addressing healthcare needs of displaced residents. Following the devastating earthquake in Haiti, nurses from around the world volunteered to provide medical care and support. They worked in field hospitals, treated injuries, provided psychological support to survivors, and helped prevent the spread of diseases in crowded and unsanitary conditions.

The end users rely on nurse staffing agencies to help them meet their staffing needs efficiently. Nurse staffing agencies play a vital role in connecting qualified nurses with the diverse healthcare settings that require their expertise and care.  The primary end users of the nurse staffing market are Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings, and Private Sector. Healthcare businesses can get staff thanks to the service providers without having to engage in a drawn-out hiring process.

Who are the Prominent Market Players of Global Nurse Staffing Market?

Some of the prominent players in the Global Nurse Staffing Market include AMN Healthcare, Cross Country Healthcare, CHG Healthcare, Avant Healthcare Professionals, Aya Healthcare, Medical Solutions, Favorite Healthcare Staffing, Maxim Healthcare Services, Jackson Healthcare, Nursefinders (a part of AMN Healthcare), Allied Healthcare Professionals, ProLink Healthcare, Sunbelt Staffing, Accountable Healthcare Staffing, Soliant Health, Triage Staffing, Staffhealth.com, Vibra Healthcare, Envision Healthcare Corporation.

How the Market Player Generates Their Revenue Through their Unique Revenue generation model?

The revenue generation model in the nurse staffing market is mainly driven by Placement Fees. These fees are typically based on a percentage of the nurse's salary or hourly rate. The agency earns revenue each time they successfully place a nurse. Such models vary depending on the nature of the service the agency provides. Some agencies offer contract staffing services, where nurses are placed on long-term assignments at healthcare facilities. Permanent Placement Fees are charged to healthcare facilities when a nurse is hired for a full-time or part-time position. Online Advertising, Online Job Posting, Virtual Consultation, Per Diem or Hourly Billing, Conversion Fees, Travel Nurse Markups are some other revenues generating models.

How the Changing Dynamics of Supply & Value Chain Impacting the Market Performance?

The changing dynamics of supply and value chains can have a significant impact on the performance of the global nurse staffing market. These dynamics are influenced by various factors, including technological advancements, regulatory changes, market consolidation, and shifts in healthcare delivery models. The supply chain model in the nurse staffing market typically involves several stages, including Demand Assessment, Client engagement, Talent Acquisition, Credentialing and Compliance, Matching and Placement, Onboarding and Orientation, Billing and Payment, Quality Assurance.

The value chain model encompasses stages such as talent acquisition and recruitment, credentialing and compliance, client engagement and matchmaking, staffing placement and support, and billing and payment processing. Each of these stages adds value to the overall nurse staffing service, with activities like candidate sourcing, rigorous credentialing, and sophisticated matching algorithms optimizing the quality of matches between healthcare professionals and facilities. Some agencies may prioritize technology investments to enhance efficiency and reduce costs in the matchmaking and credentialing stages, while others may focus on building strong client relationships.

Market Analysis:

How COVID-19 Pandemic has Accelerated the growth of Nurse staffing market?

The World Health Organization (WHO) designated 2020 as the Year of the Nurse and Midwife with the intention of raising awareness of the need for ""nine million more nurses and midwives to achieve universal health coverage by 2030,"" although the COVID-19 pandemic was not yet in sight. The demand for staffing services increased dramatically during the outbreak of COVID-19. The pandemic significantly increased the demand for per diem and travel nurses. Due to existing nursing shortages, the ageing of the nursing workforce and the growing COVID-19 effect, the International Council of Nurses estimates up to 13 million nurses will be needed to fill the global nurse shortage gap in the future.

 Over 150,000 people were admitted to hospitals as a result of COVID-19, which also brought attention to manpower shortages in the medical field. According to survey conducted by Avant Healthcare Professionals, 50% of respondents said they lost 5%-10% of their staff due to COVID-19 while 30% reported 10%-30% left and around 90% of the medical facilities accepted using travel nurses for management of COVID-19 patients in 2020. Such scenario accelerated the demand for nurses.

 How Rise in burden of chronic disease drive the Global Nurse Staffing market?

The rise in the burden of chronic diseases is a significant driver of the global nurse staffing market. Chronic diseases, which include conditions like diabetes, heart disease, cancer, and respiratory illnesses, require ongoing medical care and management. Due to these factors the demand of nurse staffing among the hospitals is increasing rapidly. For example, the World Health Organization (WHO) estimates that chronic diseases account for approximately 74% of all deaths globally. Chronic diseases are a leading cause of mortality and morbidity, and they often require continuous medical attention and monitoring.

Japan has one of the highest life expectancies globally, leading to an aging population with a higher risk of chronic diseases. As a result, there is an increased demand for healthcare services and nursing care. For example, in Japan 30% of the population is already over 60 years old. Older age is also characterized by the emergence of several complex health states commonly called geriatric syndromes.

This demand is expected to continue to grow as the global population ages and chronic disease prevalence increases, further fueling the global nurse staffing market.

How can Shortage of skilled health workers hamper the Global Nurse Staffing market?

A shortage of skilled health workers, including nurses, means there are fewer professionals available for staffing agencies to recruit. One of the biggest threats to global health is the extent of the nursing shortage, yet governments aren't paying it the attention it needs. Access to healthcare is important to safe, secure, economically successful and equitable communities, but it cannot be achieved unless there are enough nurses to deliver the treatment needed. While health workers represent less than 3% of the global population, they represented around 14% of COVID-19 cases. In some countries, the proportion is as high as 35%.

According to 2022 ICN report, Due to existing nursing shortages, the ageing of the nursing workforce and the COVID-19 effect, ICN estimates up to 13 million nurses will be needed to fill the global nurse shortage gap in the future. Also, WHO Global Strategic Directions for Nursing and Midwifery Report states that the largest needs-based shortages of nurses and midwives are in Southeast Asia and Africa.

For all nations to achieve Sustainable Development Goal 3 on health and well-being by the year 2030, the WHO predicts that an additional 9 million nurses and midwives will be required globally.

What are the Different Opportunity Factors for the Global Nurse Staffing Market over the Next Decade or so?

Technological Advancements:

AI-driven tools can optimize nurse-patient matching, streamline administrative tasks, and enhance overall efficiency in nurse staffing agencies, creating opportunities for technological integration. Remote patient monitoring, and digital health platforms, create opportunities for nurse staffing agencies to provide specialized services and support in these emerging fields. When comparing the outcomes over time, the significance of offering telemedicine services also has greatly increased.

Government Initiatives:

Various governments are investing in healthcare infrastructure and workforce development. Nursing staffing agencies can benefit from government initiatives that aim to improve healthcare services and expand medical facilities. Governments provided funding for training programs to upskill nurses, especially in areas related to COVID-19 management, infection control, use of specialized equipment and invested in telehealth infrastructure.

Market Trends:

How Rise in Telehealth and Remote Nursing Trends Evolving in the Market?

• Focus on Nurse Training and Education: Nurses are trained to use telehealth platforms, ensuring they are proficient in virtual patient interactions and using remote monitoring devices.
• Integration of Advanced Technologies: The Internet of Things (IoT) devices, such as wearable health trackers, enable nurses to collect real-time data, providing a holistic view of patients' health remotely.
• Specialized Remote Nursing Services: Remote nursing services focus on managing chronic conditions like diabetes, hypertension, and heart disease and Patients recovering from surgeries. Nurses guide patients in managing their conditions, reducing hospital visits.

What is the Different Consumer/Customer Trends Shaping the Overall Market Growth?

• Focus on Personalized Care: There's a demand for holistic healthcare services that address both physical and mental well-being, requiring a comprehensive approach from nursing professionals.
• Demand for Convenient Services: Patients seek on-demand healthcare services, including nurse consultations, through mobile apps and online platforms for immediate healthcare support.
• Tech-Savvy Healthcare: Patients use wearable devices and health apps to monitor health parameters, medication reminders, health tracking, and accessing nurse advice Nurses may need to integrate data from these devices into patient care plans.

Geography Analysis:

How does the lack of skilled nursing professionals accelerate the growth of the global nurse staffing market in the Southeast Asia region?

The global outbreak of COVID-19 emphasizes how crucial nurses are to health security, and WHO has thanked them for their service in these challenging times. Furthermore, Home healthcare agencies in Southeast Asia are partnering with nurse staffing firms to ensure skilled nurses for home-based patient care. This collaboration addresses the shortage of in-home nursing professionals was taken care of. According to a report by the World Bank, Southeast Asia faced a shortage of 2.6 million healthcare workers in 2019, highlighting the pressing need for staffing solutions which was rapidly covered after facing pandemic. Moreover, according to the International Organization for Migration, Southeast Asian countries like the Philippines and Indonesia are among the top countries of origin for international nurses, indicating the region's contribution to the global healthcare workforce. Hence, regions like southeast Asia are ahead in terms of healthcare workforce.

How Integration of Technology into healthcare has boosted global nurse staffing market in the European region?

The integration of technology into healthcare, including nurse staffing, has had a significant impact on the global nurse staffing market. Technology has enabled nurse staffing agencies to develop advanced platforms and algorithms for efficiently matching available nurses with the specific needs of healthcare facilities.

For example, Patchwork and Florence are some apps. The Nordic countries—particularly Estonia continue to be seen as the leading role models in digital health. Annual European eHealth Survey 2021 from HIMSS, in cooperation with McKinsey, identifies key concerns in the European healthcare Industry. It says 70% of European healthcare organizations were using mobile health applications and Cybersecurity, interoperability, and patient empowerment are major concerns in the European healthcare industry. Probably Digital health will become more proactive after the pandemic. The pandemic has positively impacted the development of digital health in several ways.

What are the Key Benefits of Global Nurse Staffing Market Report to You?

• Global Nurse Staffing Market report covers in-depth historical and forecast analysis.
• Global Nurse Staffing Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Nurse Staffing Market report helps to identify opportunities in the marketplace.
• Global Nurse Staffing Market report covers extensive analysis of emerging trends and competitive landscape.

Global Nurse Staffing Market Segmentation:

By Service Type:

• Travel Nurse Staffing
• Per Diem Nurse Staffing
• Locum Tenens Staffing
• Allied Healthcare Staffing

By Platform Type:

• On-Demand Gig Nursing Platforms
• Temporary Nurse Staffing Agencies
• PRN (Pro Re Nata) Nurse Staffing Services
• Travel Nurse Agencies
• Mobile Healthcare Staffing
• Direct Hire Nurse Placement Services

 By End-user:

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Care Settings
• Private Sector

By Regional & Country Level:

• North America
  • S.
  • Canada
• Europe
  • K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa