Market Size of Per Diem Nurse Staffing Industry
| Study Period | 2018-2028 |
| Base Year For Estimation | 2022 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Per Diem Nurse Staffing Market Analysis
The Per Diem Nurse Staffing Market is expected to witness a CAGR of 4.5% during the forecast period.
COVID-19 has impacted the per diem nurse staffing market due to the high demand for nursing staff and the high number of hospital admissions of COVID-19 and other emergency cases worldwide. However, hospitals & clinics faced shortages of nurses as many nurses resigned due to the high stress faced during COVID-19. For instance, According to a February 2022 article in the Elsevier Public Health Emergency Collection, there is a critical nurse staffing shortage in several hospitals across the United States. According to the report, there are severe nursing staffing shortages in US hospitals, particularly in the tri-state areas of New York at 1.49%, Connecticut at 2.63%, and New Jersey at 9.57%. The market is gradually recovering by recruiting per diem nurse staffing to meet the high operational needs and reduce the shortage of staff nurse-to-patient ratios worldwide.
In addition, rising demand for healthcare facilities and growing preference for per diem nursing due to flexible work atmosphere is actively affecting the growth of the studied market.
Over the recent few years, per diem nursing has started being considered exciting and challenging, especially by those nurses who like the challenge of adapting quickly to a new environment. According to the data published by Norwich University in 2021, around 194,500 registered nurses are needed each year in the United States over the next decade, along with tens of thousands of nursing practitioners. Such increasing demand for nurses is expected to drive the market's growth. As per the same source, per diem nursing has several advantages, such as flexibility, higher earnings, and working for different employers. Hence, if a nurse is new to an area and is not sure which hospital to work at, Per diem nursing lets them get to know a variety of places before committing to full-time employment.
Furthermore, travel nurses also maintain a home-based per diem or part-time job to care for a patient at home. According to a review article published in Elsevier Public Health Emergency Collection in April 2022, the demand for travel nurses has grown exponentially, increased by 35% in 2020, and was expected to increase by 40% more in 2021. The growing demand in the consecutive years is expected to propel the demand during the forecast period.
The strategic initiatives by key players, such as partnership, launches, and innovation in the services, is expected to propel the market growth. For instance, in April 2022, Cross Country Healthcare launched a study on the use and benefits of Vendor Management Systems to streamline hiring contingent and permanent staff. The study included responses from more than 150 healthcare organizations. Such studies are expected to highlight the benefits of technology and innovation in the nursing staffing market and create opportunities for more studies during the analysis period, thereby boosting market growth.
Thus, the growing preference for per diem nursing is expected to drive market growth over the forecast period. However, low job security is likely to impede the market growth.
