Healthcare Staffing Industry Report December 2021
Industry Overview
Over the last five years, revenue for the Healthcare Staff Recruitment Agencies industry is estimated to increase at an annualized rate of 4.9%. Much of this growth is the result of two factors: increasing demand for healthcare services, driven by a progressively aging US population with greater need for medical services, and a shortage of qualified physicians, nurses, and other healthcare personnel. The pandemic has created additional need for emergency healthcare workers in areas most affected by the virus, however, restrictions on non-essential health services limited employment. As the country continues though the pandemic, the industry will likely see these restrictions continue to loosen. Over the next five years to 2026, continued growth in the healthcare sector, coupled with improvements in the overall labor market, will boost industry revenue.
Key Trends
The majority of industry revenue is earned through the placement of temporary specialized workers, moreover, to maintain specialized services available to patients, hospitals must hire qualified staff.
As private health insurance enrollment declines, so does demand for healthcare services. However, the industry will benefit from the evolving needs of the aging baby-boomer generation as it provides a variety of services, including temporary and permanent-placement services.
