The Corporate Wellness Market is likely to grow at the rate of 5.8% CAGR by 2027. Corporate wellness is a program implemented by organizations to intensify the health and wellbeing of their employees. It includes advantages to improve health and maximize production output and also health promotion strategies, policies. The services included in the program are weight management, fitness services, nutrition, dietary facilities, stress management activities, health screening, and smoking cessation sessions. Large and medium-scale organizations deploying corporate wellness are allotting nap rooms, providing wearable health trackers, gym services, yoga sessions, and mindfulness workshops. The key behind the growth of the corporate wellness market is a considerable increase in the incidence of chronic diseases across the world and the deployment of an inactive lifestyle. Further, the economic benefits of these programs and proliferating awareness and implementation of wellness programs by employers are also accelerating the corporate wellness market growth. But, the cost incurred to adopt the corporate wellness programs will hamper the market growth.
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Corporate Wellness Market based on Service
• Health Risk Assessment
• Fitness
• Smoking Cessation
• Health Screening
• Nutrition & Weight Management
• Stress Management
• Others
Corporate Wellness Market based on End use
• Small Scale Organizations
• Medium Scale Organizations
• Large Scale Organizations
Corporate Wellness Market based on Category
• Fitness & Nutrition Consultants
• Psychological Therapists
• Organizations/Employers
Corporate Wellness Market based on Geography
• North America
• Europe
• Asia Pacific
• Rest of the World
In the corporate wellness market based on services, the health risk assessment segment is anticipated to hold the predominant share in the market. This is due to the growing adoption of health risk assessment services by various employers worldwide to identify health risks and implement the proper interventional strategies that enhance the health fitness of the employees. Moreover, increasing awareness about corporate health risks has also enhanced the segment growth.
Further, based on the end-use, the large-scale organization’s segment is witnessing significant growth over the forecast period in the market. The segment’s growth is ascribed to the increasing number of large-scale organizations investing in health screening services for better employee care and health screening programs at frequent intervals to keep a health check, promote preventive care, and reduce treatment costs. Further, the implementation of corporate wellness programs assists in tracking several diseases, which encourages large-scale organizations to adopt corporate wellness programs.
As per the market by category, the healthcare and nutrition consultants segment is exhibiting considerable growth over the coming years. Healthcare consultants render several services such as medication, exercise, nutrition, character strength, and behavioral health. In addition, the number of programs provides diversified solutions based on the individual health status, thereby enhancing segmental growth.
According to geography, the North American region has acquired a substantial share in the corporate wellness market. The substantial share of this segment is ascribed to the increasing deployment of corporate wellness programs by corporate offices and increasing awareness regarding health among the population for living a healthy and stress-free life.
Moreover, the increasing obesity worldwide among the age group of 40 to 59 gives rise to various chronic diseases including diabetes, cardiovascular diseases, metabolic syndrome, etc. In addition, few other reasons responsible for the rising diseases are improving lifestyles, smoking, drinking, unhealthy diet, and physical inactivity. Thus, the increasing number of diseases due to the aforementioned reasons poses a major growth in the global corporate wellness market.
The corporate wellness market is providing with the few notable companies of the market, which include Wellness Corporate Solutions, Truworth Wellness, Bupa Wellness Pty Ltd, The Vitality Group, Inc., Truworth Health Technologies Pvt. Ltd., Provant Health Solutions, Central Corporate Wellness, Beacon Health Options, Virgin Pulse and Marino Wellness.
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Henceforth, increasing consciousness about employee wellness has increased the prominence of corporate wellness programs in organizations. Hence, a healthy workforce is considered a productive workforce where corporate wellness solutions play a significant role.
• This report mentions corporate wellness market analysis, which includes various regions that enable shareholders to prepare plans according to region.
• This report represents insights into the attributes which propel and hamper the growth of the corporate wellness market.
• The complete analysis of given regions offers insights estimated to facilitate competitors to strategically organize their business moves and also helps in survive in the market.
• Significant market vendors of the corporate wellness market are included in this report and their strategies, which assists in getting a perception of the market’s competitive outlook.
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