Good bedside manner: An aging population will represent an important growth opportunity for the industry
Healthcare Staff Recruitment Agencies in the US
Healthcare staff recruitment agencies rely on the health of the healthcare sector’s labor market. In recent years, structural and demographic trends across the industry are affecting the composition of the healthcare workforce and demand for healthcare professionals. Two main factors driving these changes are the expanding needs of an aging population and substantial shortages of qualified healthcare professionals. Recruitment agencies have had a mounting role in helping healthcare providers navigate these changes. While COVID-19’s disruption to healthcare utilization limited the hiring of healthcare professionals, these underlying trends didn’t diminish. But the pandemic’s unprecedented strain on the healthcare labor market exacerbates the pre-existing shortage of healthcare professionals, highlighting the importance of healthcare recruitment agencies to fill positions and reduce turnover. Recruiters’ expanding role has led revenue to grow at an estimated CAGR of 5.9% to $30.9 billion over the past five years. Growth in 2023 is more moderate at 2.8%, due to lower healthcare expenditure.
Healthcare staff recruitment agencies list employment vacancies for individuals that work to improve others’ physical well-being and social functioning capacity. These companies also refer and place applicants for employment. Individuals that are referred or placed are not employees of the agencies. While temp workers remain employees of the recruitment agency, these agencies do not directly supervise their employees at the clients’ work sites.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.