Analysts at Arizton Advisory & Intelligence say that the market for healthcare staffing in US is likely to grow at a CAGR of 9% during 2017-2023, crossing the $28 billion mark by 2023.
A recent report on Healthcare Staffing Market in the US - Outlook and Forecast 2018-2023, released by Arizton Advisory & Intelligence says that the market for healthcare staffing in US is expected to witness a substantial growth during the next five years.
Increasing Shortage of Registered Nurses to Propel the Market Growth Of Healthcare Staffing in US
Since 2010, the market for healthcare staffing in US has been witnessing an increase in demand. Despite registered nurses are among the single largest healthcare professionals in the country, the vacancy rate for registered nurses is growing YOY. This increase in demand can be attributed to a diminishing pipeline of new recruits in the nursing industry as thousands of prospective students are being turned away from enrollment due to the shortage of faculty in nursing schools.
Rising Aging Population with Increased Life Expectancy Rate to Promote the Market Growth
On account of the country’s growing aging population, the US Bureau of Labor Statistics expects the demand for registered nurses in the country to grow by 14–16% by 2023. The development of healthcare provisions and technological advancements has not only led to a decline in the mortality rate in the US, leading to an increase in the aging population in the country but also to a rapid growth in the healthcare industry. According to the US Census Bureau, the poverty rate for people aged 65+ is lower than other age groups. This is also contributing to the demand for allied healthcare professionals, including nurses, among the aging population in the country.
Increased Utilization of Healthcare Services to also Promote the Market for Healthcare Staffing in US
The ACA, passed in 2010, mandates health insurance coverage for all US nationals. This has propelled the number of newly insured people as well as end-users' shift toward insurance plans with premium and cost-saving subsidies. The ACA, aiming at providing affordable quality health insurance for all uninsured citizens of the US coupled with the growing percentage of US population aged over 65, is expected to increase the demand for allied healthcare professionals, including nurses, which is, in turn, propel the market for healthcare staffing in US.
Major vendors profiled in the report
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, Vista Staffing Solutions.
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