U.S. Registered Nurses Market Is Predicted to Grow Around USD 763.24 Billion By 2030

05-May-2023 | Zion Market Research

The U.S. registered nurses market size was worth around USD 499.15 Billion in 2022 and is predicted to grow to around USD 763.24 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.62% between 2023 and 2030.

u.s.-registered-nurses-market

The U.S. registered nurses industry refers to the set of registered nurses (RNs) in the United States area. These nurses belong to the healthcare sector and have to complete a nursing program from an accredited college. To be qualified as registered nurses, they also have to pass the National Council Licensure Examination (NCLEX-RN). After completing the course, they are provided with a license to operate as RNs in their respective states.

As of May 2020, there were approximately 3.1 million registered nurses in the US, as reported by the Bureau of Labor Statistics (BLS). the same institute has predicted that between 2021 and 2029, job opportunities in this industry are expected to grow at 7% which currently is a high rate of growth when compared to the average of all other occupations in the country. The industry deals with educational institutes and healthcare centers where RNs are employed in the US region. During the forecast period, the sector is expected to grow at a high rate.

The U.S. registered nurses market is expected to grow due to the stringent protocols and laws surrounding the employment of qualified and experienced professionals in healthcare settings. The US is home to a robust healthcare infrastructure that employs only qualified personnel or people with proper licenses to operate in the medical field. The strict protocol that impacts employment in the healthcare industry is a leading cause for nurses undergoing the NCLEX-RN to obtain a license for practicing. In addition to this, the country is currently facing a significant lack of nurses.

Several states do not have adequate nurses in the region to manage the growing rate of patient care induced by the rising elderly population, and the increasing number of hospitalizations and patients in general. This has led to regional healthcare institutes taking up multiple promotion events to build more nursing initiatives and attract a larger pool of students. In the US, there are currently more than 3,000 nursing schools including universities, colleges, and vocational schools. The government has initiated multiple programs to increase the number of schools and graduating students.

One of the key restraints in the U.S. registered nurses industry is in terms of the extra requirements expected from registered nurses. Several states have policies that require these medical professionals to complete additional hours of studies within stipulated periods which can lead to emotional and physical stress on the nurses. Furthermore, RNs are required to work in shifts including weekends, holidays, and night time. Several nurses have stated that the job is too demanding compared to the pay structure leading to more disagreements within the community.

US. Registered Nurses Market

The rising market for telehealth could create opportunities while the limited scope of practice may challenge market growth.

The U.S. registered nurses market is segmented based on end-user, gender, and region.

Based on end-user, the U.S. registered nurses market segments are ambulatory health services, hospitals, nursing homes, and others. In 2022, the industry witnessed the highest growth in the hospital segment due to the high number of registered nurses working in hospitals across the country. This set of medical service providers generally tends to have a larger number of patients to care for and hence they require more medical professionals including doctors and nurses, along with other associates. In addition to this, hospitals in the US have strict policies in place to ensure that medical help with the right educational background and experience is hired.

The quality check process in these settings is strict and hence they generally tend to prefer employing RNs. During the forecast period, the nursing home segment is projected to grow at a CAGR of 6.71%, since it is the second-most significant contributor in the industry.

Based on gender, the U.S. registered nurses market divisions are male and female. The latter was the highest-growing segment in 2022 since the majority of the RNs working across healthcare settings are women. However, the male segment has been growing rapidly over the years. Female nurses held dominance over 87% of the segmental share in 2022. Nursing, in general, has always been a female-dominated sector mainly due to several historical and gender-based allocations of job opportunities. Since nursing refers to caring and nurturing, hence the profession has been traditionally associated with women. In addition to this, the history of nursing as far as the 19th century was purely female-centric which is another reason for the high women population in this sector.

The U.S. registered nurses market is expected to witness the highest growth in the Northeast region consisting of states such as New York and Massachusetts. Two of the country's most advanced regions in terms of job opportunities and the healthcare sector. New York is also known as the financial capacity of the country and is significantly dense in terms of population. These regions are equipped with the presence of world-class medical infrastructure as hospitals registered patients from across the globe to receive treatments. Currently, the Southern part of the US which is made of regions like Texas, Florida, and Georgia is facing a significant lack of nurses and hence the state governing bodies have amped up their efforts to attract more students toward pursuing nursing.

Browse the full “U.S. Registered Nurses Market By End-User (Ambulatory Healthcare Services, Hospitals, Nursing Homes, and Others), By Gender (Male and Female), and By Country - U.S. Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030. Report at https://www.zionmarketresearch.com/report/us-registered-nurses-market

Recent Developments:

  • In July 2022, the University of Central Florida received the long-awaited approval for the construction of a new state-of-the-art nursing college to fight the nursing staff shortage in the country
  • In August 2022, the Ohio State University College of Nursing announced registration opening for its first online Doctor of Nursing Education (DNE) degree program. This is the only such program in the entire country
  • In October 2022, the U.S. Department of Health and Human Services (HHS) announced an investment of USD 13 million to promote nursing education in the country

The U.S registered nurses market is led by players like:

  • Johns Hopkins Medicine
  • HCA Healthcare
  • Kaiser Permanente
  • Tenet Healthcare
  • Cleveland Clinic
  • Ascension Health
  • Ohio State University Wexner Medical Center
  • Community Health Systems
  • Rush University Medical Center
  • Universal Health Services
  • Cedars-Sinai Medical Center
  • Mayo Clinic
  • Vanderbilt University Medical Center
  • Massachusetts General Hospital
  • Duke University Health System
  • New York-Presbyterian Hospital
  • University of Michigan Health System
  • Stanford Health Care
  • UAB Medicine
  • Emory Healthcare
  • Banner Health
  • Houston Methodist
  • Yale New Haven Health
  • Northwell Health
  • AdventHealth.

The U.S. Registered Nurses market is segmented as follows:

By End-User

By Gender

  • Male
  • Female

By Region

  • North America
    • The U.S.

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