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Industry Insights, Market Size, CAGR, High-Level Analysis: Per Diem Nurse Staffing MarketThe global per diem nurse staffing market size was valued at USD 7.31 billion in 2018 and is expected to expand at a CAGR of 4.9% over the forecast period. Nursing services have been fundamental to healthcare delivery for quality patient care. The branches of nursing services such as per diem nursing, locum tenens, and travel nursing are vital factors for the transformation of medical services. Rising demand for healthcare facilities and the shortage of skilled healthcare staff are likely to drive the market growth. According to the National Institute on Aging (NIA), a part of the National Institutes of Health (NIH), around 8% of the global population-about 617 million people-is aged 65 or older. Rising life expectancy and age increase the risk of diabetes, cardiovascular diseases, arthritis, Alzheimer’s disease and various age-associated diseases. This results in a higher burden on the healthcare system. Hence, rising geriatric population is likely to drive the requirement for healthcare facilities, driving the demand for per diem nurse staffing. Per diem nurses are employed and paid on a day-to-day basis through specialized job placement agencies or hospital staffing pools. The flexibility of work hours and relatively high wages attract more nurses to take up the job. Healthcare facilities such as hospitals, clinics, and outpatient departments often face urgent requirement for temporary staffing due to unscheduled absence of nurses, vacations, and patient acuity. Some nurses prefer per diem assignments as they are opportunities to gain more experience for working in various hospitals to explore future job prospects. Although the per diem assignments are temporary, the nurses are well compensated for working flexible schedules. The remuneration for per diem nurses varies based on the hospital reputation, geographic location, and nurse specialization. Influx of new organizations along with business strategies such as collaborations and mergers and acquisitions are projected to create growth opportunities in the market. In July 2010, AMN Healthcare acquired Medfinders to gain an entry point into the local market for per diem staffing. In June 2019, FlexRN, a Virginia-based nurse staffing firm, acquired Progressive Nursing Staffers to fulfill the staffing demands of hospitals and clinics on national and regional level.
Regional Insights of Per Diem Nurse Staffing MarketNorth America dominated the per diem nurse staffing market in 2018 and is expected to maintain its position during the forecast period. Lack of skilled professionals, high baby boomer population, and the presence of several healthcare recruitment agencies in the region are some of the factors contributing to the growth. According to the Association of American Medical Colleges, the shortage of healthcare professionals is expected to grow by 2025 with a requirement of around 95,000 people. Furthermore, an increase in demand for healthcare services, especially in acute healthcare facilities and inpatient facilities, is most likely to drive this market over the forecast period. The healthcare staffing agencies are undertaking strategic initiatives such as mergers and partnerships for the expansion of their network in U.S. For instance, Novation Companies, Inc. acquired Healthcare Staffing, Inc. in 2017 to expand its presence in Georgia, U.S. Higher penetration of nurse recruitment services in U.S., particularly due to the presence of various market players and high demand of healthcare professionals for home care are responsible for the dominance of the U.S. in North America. Hospitals face financial uncertainty, which results in a decrease in the permanent recruitment of nursing staff. Moreover, the growth in the number of insured people in U.S. further increases the demand for healthcare services, thereby, increasing the gap between supply and demand of per diem nurse staff. Asia Pacific market for per diem nurse staffing is majorly driven by the countries such as China, Japan, India, and Australia. Japan held the majority of the regional market share in terms of revenue in 2018 due to high public and private investment in the healthcare sector, stringent regulations, and positive economic conditions. Thailand and Singapore are some of the merging countries in the temporary staffing market owing to the gaining popularity of home health care. The favorable government initiatives, including linearization of some of the archaic labor laws, are anticipated to drive the market in the coming years.
Market Share Insights of Per Diem Nurse Staffing MarketSome of the key market players are Cross Country Healthcare; AMN Healthcare; GHR Healthcare; Maxim Healthcare Services; and ATC Healthcare. The temporary staffing and workforce solutions market is highly competitive. The healthcare staffing agencies provide per diem nurses in conjunction with managed services programs. The companies streamline their data to match the assignments to the right clinicians to fulfill the on-demand needs. In addition, companies can integrate innovative technologies in recruitment by improving their digital capabilities. U. S. is projected to witness significant growth in demand for per diem nursing staffing in near future. The U.S. market is fragmented in nature, with the presence of leading staffing organizations such as AMN Healthcare Services, Cross Country Healthcare, and Maxim Healthcare Services. Partnerships and collaborations with smaller market players to expand market outreach are likely to further drive the market. AMN Healthcare was the largest provider of temporary healthcare staffing in U.S in 2018.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Per Diem Nurse Staffing Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global per diem nurse staffing market report based on region:
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.1.1 Regional Scope 1.1.2 Estimates & Forecast Timeline 1.2 Research Methodology 1.3 Information procurement 1.3.1 Purchased Database 1.3.2 GVR’S Internal Database 1.3.3 Secondary Sources 1.3.4 Primary Research 1.4 Information or Data Analysis 1.4.1 Data Analysis Models 1. | read more...