Medical recruitment services include, recruitment services, vendor management, recruitment process outsourcing, consulting services, homecare services, specialist care services.
Market Statistics:
Western Europe medical recruitment market is expected to surpass US$ 21,233.5 Mn in terms of value by the end of 2028.
Western Europe Medical Recruitment Market: Drivers
Increasing R&D employment is expected to propel growth of the Western Europe medical recruitment market over the forecast period. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the number of R&D employment in the pharmaceutical sector in Europe increased from 88,397 units in 2000 to 115,000 units (est.) in 2018.
Western Europe Medical Recruitment Market: Opportunities
The growing biotechnology industry sector creates vast opportunities for recruitments of skilled professionals in Western Europe. There are various biotechnology companies that have recently emerged in the region such as Gedea Biotech, Exscientia, NodThera, and Orchard Therapeutics among others. Hence, the rapidly growing biotech and pharmaceutical sector in the region creates opportunities for expanding the workforce for efficiently supporting the manufacturing and R&D activities of the companies.
Western Europe Medical Recruitment Market: Recent Developments
Companies operating in the market are launching new services which will promote the market growth through the forecast period. For instance, in February 2021, Medacs Healthcare launched online support portal for providing support for ensuring mental health and wellbeing of individuals during the challenging time of COVID-19 pandemic. In addition, the company has partnership with Health Assured for offering mini health checks, counselling sessions and webinars among others.
In addition, rise in demand of healthcare professionals during the COVID-19 pandemic can be further attributed to the market growth. For instance, in April 2020, the European government granted US$ 3.65 billion for supporting national healthcare systems by providing medical services, construction of field hospitals, and distribution of medical supplies among others. Hence, such initiatives will promote more recruitment of healthcare professional to support the healthcare sector in the pandemic crisis.
Moreover, the emergence of companies engaged in healthcare recruitments can be further attributed to drive the growth of Western Europe medical recruitment market over the forecast period. For instance, according to the NHS Confederation there are several companies such as Avanta Care, Concept Care Solutions, Cromwell Medical Staffing, Holt Doctors Ltd that are involved in the recruitment of health professionals, healthcare assistants, nurses, dentists and doctors among others.
Western Europe Medical Recruitment Market: Restraints
Highly centralized and regulated health system in Western Europe is expected to hinder growth of the market.
Western Europe Medical Recruitment Market - Impact of Coronavirus (Covid-19) Pandemic
In the U.K., from 3 January 2020 to 4:53pm CEST, 7 September 2021, there have been 7,018,931 confirmed cases of COVID-19 with 133,274 deaths, reported to WHO. As of 29 August 2021, a total of 90,752,303 vaccine doses have been administered. Such scenario has led to rise in adoption of virtual recruiting. There is also a steep rise in demand for critical care nurses to help deal with the pandemic in NHS Trusts, as well as increased demand for unqualified workers to assist. Such scenario is expected to offer lucrative growth opportunities for players in the Western Europe medical recruitment market.
Key Takeaways:
- Western Europe medical recruitment market was valued at US$ 16,086.2 Mn in 2020 and is forecast to reach a value of US$ 21,233.5 Mn by 2028 at a CAGR of 3.6% between 2021 and 2028.
- The nursing/healthcare segment was valued US$ 5,871.4 Mn in 2020 and is expected to witness a CAGR of 4.5% over the forecast period. The increasing incidence of communicable and non-communicable diseases in Europe has increased the demand of nurses and healthcare proffestional which can be attributed to the segment growth.
Market Trends
Increasing burden on the healthcare sector due to the Covid-19 pandemic is expected to propel growth of the market. For instance, as of May 21, 2020, there have been 176,752 confirmed cases of COVID-19 with 8,147 deaths in Germany as reported to the World Health Organization.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to Office of National Statistics, U.K. 2018, there are nearly 12 million people aged 65 and above in the U.K. of which 5.4 million people are aged over 75, 1.6 million are aged over 85, over 500,000 people are over 90, and 14,430 are centenarians.
Western Europe Medical Recruitment Market: Competitive Landscape
Major players operating in the Western Europe medical recruitment market include, Medacs Healthcare, Euromotion Medical, CPL Healthcare Limited, ProClinical Limited, TFS Healthcare, EGV Recruiting, and CCM Recruitment.
Western Europe Medical Recruitment Market: Key Developments
Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in February 2020, TFS Healthcare partnered with Barts Health NHS trust as part of its new collaboration of Tier 1 Suppliers.
Similarly, in January 2020, Medacas Healthcare partnered with Betsi Cadwaladr University Health Board to recruit 100 temporary nurses to trusts throughout North Wales.
Major players in the market are also focused on adopting various marketing strategies to enhance their market share. For instance, in May 2019, TFS Healthcare exhibited at the 2019 RCN Congress - Congress Royal College of Nursing.
