The healthcare professionals segment was valued at more than US$ 8 Bn in 2016 and is expected to exceed a market valuation of US$ 16 Bn by 2027 end. Revenue generated from this segment is projected to expand at a CAGR of 6.5% over the forecast period. The healthcare professionals segment is expected to create incremental dollar opportunity of more than US$ 7 Bn between 2017 and 2027. In terms of revenue, the healthcare professionals segment is projected to be the most attractive segment in the Western Europe medical recruitment market during the forecast period. The segment is also likely to register high Y-o-Y growth rates throughout the forecast period.
Increasing prevalence of heart-related diseases in Europe expected to positively impact the growth of the healthcare professionals segment
Increasing prevalence of various diseases, especially cancer and heart diseases in Europe, is expected to increase demand for diagnostic equipment and surgical operations. This is further expected to increase demand for medical practitioners in Western Europe and in turn drive the demand for qualified and experienced healthcare professionals. According to the World Health Organization, chronic illnesses such as cancer and heart diseases are the primary causes of death worldwide. According to the European Heart Network (EHN) and the European Society of Cardiology (ESC), around 4 Mn people in Europe and 1.5 Mn in the European Union die each year as a result of suffering from heart diseases such as strokes and other coronary diseases. Hence, the demand for healthcare professionals to monitor the health of the population in the various countries of Europe is expected to increase significantly in the course of the next few years.
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Various healthcare projects are being carried out in order to support research and this requires the employment of candidates across various fields in the healthcare industry such as technicians, nurses, lab assistants, medical representatives, pharmacists and physicians. This is anticipated to increase demand in the healthcare professionals segment in the Western Europe medical recruitment market during the forecast period.
The world’s older population continues to grow at an unprecedented rate. Population ageing is among the major social and economic challenges faced by the EU. According to Eurostat’s statistical projections, there is an increase in the number and share of the older population aged 65 and above. Additionally, the number of persons aged 85 and above has also been rapidly increasing. These demographic developments are likely to have a considerable impact with respect to different healthcare requirements of the elderly. This factor is anticipated to boost the demand for healthcare professionals in Western Europe.
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Country-wise analysis and forecast of the healthcare professionals segment by candidature
In Germany, the healthcare professionals segment is projected to be the most attractive segment in the country’s medical recruitment market during the forecast period. The healthcare professionals segment is also expected to register high Y-o-Y growth rates throughout the forecast period in Germany. In terms of value, this segment is anticipated to expand at a CAGR of 6.8% during the forecast period. In France, the healthcare professionals segment was valued at more than US$ 1,500 Mn in 2016 and is expected to remain dominant in terms of value throughout the forecast period.