Clinical Staffing Services Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

The global Clinical Staffing Services market reached a value of USD 6.4 billion in 2021. The industry is projected to grow at a CAGR of around 6.5% in the forecast period of 2022-2027 to reach a value of USD 9.4 billion by 2027.

The Clinical Staffing Services industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. Clinical staffing is an intensifying field specifically owing to the growth in the older population, and the rising accessibility of medical insurance for a larger group of people. Developments in clinical technology have led to the creation of innovations such as telehealth and medical information science. North America is the highest category spender by region which is driving the demand for the Clinical Staffing Services industry.

Industry Definition and Segmentation

The recruitment services provided to the pharmaceutical industry to employ the workforce for several needs, such as drug safety and risk management, clinical research operations, literature search services, quality assurance, and clinical data management is called clinical staffing services. It is commonly referred to as organisations in the pharmaceutical industry that subcontract healthcare staffing services since it supports achieving benefits like budget composition gains owing to the drop in the work needed to ascertain appropriate clinical employees. The global Contract Mining Services industry report comprises segments based on region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).

The North America Region is Driving the Growth of the Industry

North America dominates the international clinical staffing market in terms of its market share, due to the existence of prominent companies, shortage of competent and trained staff as compared to the requirement in the market, and rising older population. The market leaders in the region are implementing tactical initiatives such as acquisitions, partnerships, and mergers to expand their network. Hence, growth in penetration is projected to drive the progress of the market in the North American region.

The rising population in the older section across the globe symbolises one of the primary reasons aiding the growth of the market. Other than this, the increasing awareness about the advantages of temporary staffing, job-related incentives, and the accessibility of prospects in various countries are among the other drivers boosting the progress of the market. Furthermore, clinical staffing services are extensively utilised owing to the growing scarcity of medical specialists. Moreover, the staffing procedure through clinical staffing services firms is quicker and permits the recruiters globally to select from a varied array of candidates. Along with this, the rising trend of hiring travel nurses is generating promising positions for the market. Apart from this, the major players in the market are entering into mergers and acquisitions (M&A) activities to augment their current geographical existence and improve their share in the market.

On the other hand, the lack of competent medical professionals and restricted amenities and professional assurance presented by the clinical staffing providers are some of the reasons likely to constrain the worldwide clinical staffing services market.

Best Procurement Practices

The global Clinical Staffing Services oil industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by Clinical Staffing Services providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.

Category Management Studies

The recruitment field is continuously advancing, hence getting the right candidate on board can be very challenging. With the help of clinical and healthcare staffing services, healthcare organisations can resolve this concern. These outsourcing firms or consultancies help their clients to expand their capabilities while remaining agile. Moreover, the recruitment experts and the right network in these outsourcing companies facilitate evaluating the applicants on the basis of their qualifications, skills, and experience to verify their fitment for a particular job opportunity. There are generally two types of hiring that the clinical staffing services provide – contractual hiring and direct placements.

Rewarding Advantages for Healthcare Professionals is Anticipated to Further Drive the Clinical Staffing Services Market

The increasing shortage of clinical personnel is projected to clearly impact the compensation of such personnel, which would promote the considerable development in the compensation of various clinical specialists like nurses. This tendency is likely to appeal to maximum job seekers in this field who wish for a favourable work profile in the international clinical staffing market. The opportunity of receiving real healthcare field experience in a variety of locations across the globe, getting profitable travel prospects presented to the clinical workers, and an option to choose short-term jobs or projects as compared to working at one site for a long term are some of the other factors that are prompting the rising path of the worldwide clinical staffing services market in the forthcoming years. Additionally, the opportunity to select accommodating schedules as per one’s planning such as visiting consultants, substitute tenens, and travel nurses is enticing a bigger group of professionals in the international clinical staffing industry.

The key zones in the industry are North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Key Industry Players Mentioned in the Clinical Staffing Services Industry Report

• IQVIA Holdings Inc.
• Parexel International Corporation
• Hays Plc.
• Randstad NV
• Syneos Health

Market Landscape

The international clinical staffing market is divided because of the existence of a significant number of companies. The expansion strategies such as mergers and acquisitions are implemented by the prominent players to augment their service group and geographical reach to boost their share in the market.

Key Initiatives by Companies

• Cross Country Healthcare bought considerably all the holdings of a cloud-based fitment and recruiting firm, Selected, in February 2022. Selected pairs educators with schools based on mutually shared preferences to ensure a customised and prolonged right fit. This acquisition ascertained a balance between talent across the clinical and education industries.
• A USD 34 million was received by Jackson Healthcare granted by Georgia’s tab for offering staffing support from doctors to nurses to respiratory therapists, to several hospitals and nursing homes during the pandemic through its affiliate, HWL.