Global Corporate Wellness Market Research Report: by Service Type (Health Risk Assessment, Stress Management, Nutrition & Weight Management, Smoking Cessation, Fitness), Category (Fitness & Nutrition Consultant, Organization), End User- Forecast Till 2023
Corporate Wellness Market Analysis
The global corporate wellness market was valued at USD 49.7 billion at a 7.0% CAGR between 2018- 2023, as per the recent report by Market Research Future (MRFR). Corporate wellness programs have been specially designed and conducted in the workplace for supporting employees to understand about their health risks, reduce the expenditure on healthcare, and pursue healthy behavior in office. Corporate wellness comprises a set of programs, policies, and perks that address various conditions and risk factors influencing both the employees and the organization at large. By implementing wellness programs, employees are likely to perform diligently. Organizations, psychological therapists, and fitness and nutrition are the different categories of corporate wellness that find wide application in large-scale businesses, medium-scale businesses, and small-scale businesses. Its different service types include health screening, fitness, smoking cessation, nutrition and weight management, stress management, health risk management, and others.
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Various factors are adding to the corporate wellness market growth. According to the new MRFR report, such factors include increasing focus by the private and public sector in developing economies to improve employee health, adoption of a sedentary lifestyle, rising prevalence of chronic diseases, and growth in the private sector. Additional factors adding market growth include an increase in the number of white-collar workers, smoking, increasing cases of obesity, and other forms of lifestyle diseases.
On the contrary, a huge cost may limit the corporate wellness market growth over the forecast period.
Corporate Wellness Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global corporate wellness market report based on end user, category, and service type.
Based on service type, the corporate wellness market is segmented into smoking cessation, health screening, fitness, stress management, nutrition and weight management, health risk management, and others. Of these, health risk management will lead the market over the forecast period.
Based on category, the global corporate wellness market is segmented into organizations, psychological therapists, and fitness and nutrition. Of these, organizations will dominate the market over the forecast period.
Based on end user, the global corporate wellness market is segmented into large-scale, medium-scale, and small-scale businesses. Of these, large-scale businesses will have a major share in the market over the forecast period.
Corporate Wellness Market Regional Analysis
Based on the region, the global corporate wellness market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), and Middle East Africa (MEA). Among these, the Americas will dominate the market over the forecast period. The presence of the target population in Canada and the US, presence of leading players, rising adoption of wellness activities, and changing shifts to reduce healthcare costs, are adding to the growth of the market in the region.
In Europe, the global corporate wellness market is predicted to hold the second-largest share over the forecast period. A wide range of providers in the region, coupled with high health expenditure, is adding to the market growth.
The global corporate wellness market in the APAC region is predicted to grow at a high CAGR over the forecast period. Increasing awareness about corporate wellness among employees and employers and the growing population in China & India are adding market growth in the region.
In the MEA, the corporate wellness market is predicted to have the smallest share over the forecast period for the gradually increasing implantation of successful wellness programs in the office in Saudi Arabia and the UAE.
Corporate Wellness Market Key Players
Notable players profiled in the corporate wellness market report include Sodexo Group, 1to1help.net Pvt. Ltd, Bupa Wellness Pty Ltd, The Vitality Group, Inc., EXOS, ProvantHealth (Hooper Holmes, Inc.), Privia Health, Virgin Pulse, Marino Wellness,, Central Corporate Wellness, SOL Wellness, Wellsource, Inc., Truworth Health Technologies Pvt. Ltd., ComPsych Corporation, and Wellness Corporate Solutions, LLC.
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