Global healthcare workforce industry expected to reach $51.2 billion by 2028 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Healthcare Personnel Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Type of Service and End Users” report has been added to from ResearchAndMarkets.com offer.

The healthcare workforce market is expected to grow from US$34.76 billion in 2021 to US$51.28 billion by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.

The growth of the market is mainly attributed to the growing demand for physician assistants and growing number of government initiatives. However, the shortage of nurses is hampering the growth of the healthcare personnel market.

In recent years, the global healthcare sector has faced challenges due to the lack of qualified practitioners. According to the World Health Organization (WHO), the sector lacked about 7.2 million health professionals in 2013, and the shortage is expected to reach 12.9 million by the end of 2035. United, about 50% of hospitals reported temporary hires. nurses in 2019, as more than 60% of hospital nurses were about to retire in 2019.

According to the WHO, a shortage of 7.2 million healthcare workers was reported worldwide in 2013, and this number is expected to reach 12.9 million by 2035. According to the US Bureau of Labor Statistics , the average annual income of nurses was around US$75,000 in 2018. The recorded shortage for nurses is expected to open new opportunities for the growth of the healthcare personnel market in the near future. Moreover, the scarcity of healthcare professionals is expected to trigger the salaries of these professionals, in turn attracting more people to opt for healthcare careers.

Maintaining appropriate staffing in healthcare facilities is essential to providing a safe working environment for healthcare professionals and safe care for patients. As the COVID-19 pandemic progresses, staffing shortages are likely to prevail due to exposure of these professionals to illnesses or for any other personal reason. Thus, healthcare facilities should be prepared for possible staffing shortages and have plans and processes in place to mitigate these shortages.

Accordingly, they are implementing emergency capacity strategies, in collaboration with human resources and occupational health service providers. In addition, the United States, which is the largest national market for the healthcare workforce, introduced the Affordable Care Act (ACA) in 2010. premiums”) that reduce costs for households with income. between 100% and 400% of the Federal Poverty Level (FPL). These regulations and acts imposed in some countries have had a huge impact on maximizing the utilization of healthcare.

The healthcare personnel market is segmented on the basis of type of service and end user. The market, based on type of service, is segmented into travel nurses, per diem nurses, supply staff, paramedics and others. In 2021, the travel nurse staffing segment held the largest market share. However, the locum staffing segment is also expected to register the highest CAGR during the forecast period. By end-user, the market is segmented into Hospitals & Clinics, Pharmaceuticals, Customers, and Government Agencies. In 2021, the hospital and clinic segment held the largest market share. However, the customer segment is expected to register the highest CAGR in 2021-2028.

Market dynamics

Drivers

  • Significant increase in the number of government initiatives

  • Increase in demand for medical expanders

Constraints

Opportunities

  • Growing demand for substitutes

Future trends

Companies cited

  • Envision Healthcare Corp.

  • AMN Health Inc.

  • Cross Country Healthcare Inc.

  • Jackson Healthcare (LocumTenens.Com)

  • Adecco Group

  • Maxim Health Services Inc.

  • Favorite Healthcare Staffing Inc.

  • Aya Health Inc.

  • Medical Solutions LLC

  • CHG Health services

For more information on this report, visit https://www.researchandmarkets.com/r/5sied4

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