Market Trends of Per Diem Nurse Staffing Industry
Hospital Segment is Expected to Hold Significant Market Share Over the Forecast Period
Hospitals usually have a considerable workload and hence need a large number of skilled and regular healthcare providers. Owing to cost constraints and a shortage of regular professional nurse staff, hospitals often use per diem nurses to cover staffing needs which are expected to have significant growth in the market. In addition, the rising burden of diseases leads to a huge influx of patients in hospitals and increases the need for per diem for proper healthcare management.
There is an increased shortage of registered nurses in various countries, which is expected to rise the demand for per diem nurse staff and is likely to boost the market growth. For instance, as per the Health and Human Services study in 2021, the demand for registered nurses in hospitals would hit more than 3.6 million by the year 2030 in the United States. This huge demand and need for nurse staff is likely difficult to manage and increases the role of per diem nurse staff which is expected to have significant growth in the segment over the forecast period.
Additionally, with the growing incidence and prevalence of various diseases and disorders around the world, governments, and private entities are investing heavily in new hospitals or expanding the capacity of existing ones which rise the need for nurse staff in hospitals. For instance, in May 2023, the United Kingdom (UK) government revealed its 'New Hospital Program,' under which five new hospitals will be constructed across the country with an estimated funding of GBP 20 (USD 25.5) billion by 2030. Thus, the establishment of new hospitals increase the need for per diem nurse staff and which is expected to drive the market over the forecast period.
Therefore, owing to the aforesaid factors, such as shortage of regular nurse staff and new hospital establishments is expected to boost the segment's growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
Per diem nursing has been observing a significant rise in demand and preference in North America owing to several factors, such as the high number of hospitals, better healthcare infrastructure, and the rising preference for per diem nursing due to the flexible work atmosphere.
In addition, there is increasing interest in the nursing staff for extra income sources through various ways one of which is through per diem nurse staff jobs. For instance, in August 2023, connectRN published its study results in a nursing poll. As per the study half of over 1,300 American nurses polled have side hustles outside of nursing to earn extra income. Additionally, nearly half of new nurses plan on transitioning their side hustle to their full-time job. One of the best ways for this extra income is per diem nursing due to its flexible timings in the work environment. Hence, due to its flexibility to earn extra income, it is expected to have high demand and likely to propel the market in the region.
Additionally, the increasing shortage of nurses in the region is expected to increase the demand for per diem nurses. As per the report published by the Financial Accountability Office of Ontario, in March 2023, Ontario is projected to be short 33,000 nurses and personal support workers by 2028. Thus, the shortage of nurses in the country demands per diem nurses which is expected to boost the growth of the market over the forecast period.
Therefore, owing to the above-mentioned factors, such as benefits and flexibility of per diem nurse, and shortage of regular nursing staff, the growth of the studied market is anticipated in the North America Region.
