Corporate Wellness Market Overview
The global corporate wellness market is anticipated to acquire USD 104,190.23 Million by the end of 2027. The report further predicts that the corporate wellness market will thrive at a healthy CAGR of 8.37% during the assessment era, says Market Research Future (MRFR).
Corporate wellness refers to a program developed to help employees and their families promote a healthy workplace by integrating several health activities within the daily work to reduce health risks, enhance productivity, and improve quality of life. The global corporate wellness market has registered massive growth in the last few years. The market’s growth is credited to the factors such as increasing chronic diseases among corporate employees, rising adoption of wearable technologies & fitness activities, and growing investment in mental health and stress management programs. On the other hand, employee data breach concerns will likely impede the market’s growth.
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Corporate Wellness Market Segment Analysis
The global market for corporate wellness has been fragmented into end user, category, service, and region.
Based on service, the global market for corporate wellness is split into alcohol & drug abuse services, nutrition & weight management, smoking cessation, health risk assessment, stress management, biometric screening, fitness, and others.
The corporate wellness market is divided into organizations, psychological therapists, and fitness & nutrition consultants based on category.
The corporate wellness market is fragmented into large-scale, medium-scale, and small-scale organizations by end-user.
Corporate Wellness Market Regional Analysis
The global corporate wellness market is studied across four major regions: Middle East & Africa, Asia-Pacific, the Americas, and Europe.
The MRFR report states that the North American region has led the global corporate wellness market in recent years and is likely to maintain its dominance over the forecasted timeframe. The regional market’s growth is mainly credited to the high awareness of mental health and work stress. Furthermore, the factors such as the increasing government support, the presence of the leading players, high healthcare expenditure, increasing popularity of workplace wellness, and the aging working population are also projected to boost the regional market’s growth over the coming years.
The European regional market for corporate wellness is anticipated to register substantial growth over the forecasted timeframe. The regional market’s growth is credited to the factors such as the increasing number of start-ups for corporate wellness, increasing government initiatives, increasing prevalence of chronic diseases, increasing awareness of mental well-being, and high healthcare expenditure.
The corporate wellness market for the Asia-Pacific region is anticipated to register the highest growth over the assessment era. The regional market’s growth is attributed to the highest working populations, huge development opportunities, rapidly changing healthcare sector, increasing mental health awareness, and rapid urbanization.
The Middle East & African regional market for corporate wellness is likely to register the least contribution to the global market. This is due to the presence of poor and slow developing countries. On the other hand, factors such as shifting focus onto employee satisfaction, increasing prevalence of chronic disease, and increasing government and insurer initiatives are projected to impact the market’s growth positively.
Corporate Wellness Market Competitive Analysis
The global corporate wellness market is known for the presence of a wide number of players spread worldwide. The global market has prominent players such as Vitality Group International, Inc. (US), Central Corporate Wellness (Singapore), Quest Diagnostics (US), Privia Health (US), Wellness Corporate Solutions (US), Sodexo (France), EXOS (US), UnitedHealth Group (US), Virgin Pulse (US), and ComPsych Corporation (US), among others.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/corporate-wellness-market-6963
- September 2021- The Peloton at-home fitness has announced that it is collaborating with leading law firm O’Melveny & Myers. All U.S. O’Melveny employees, starting from October 6th, will have free access to Peloton’s digital platform for workouts and will get discounts on the company’s stationary bikes and all-access membership. Peloton Interactive Inc stated that O’Melveny is the first law firm to sign up for its Corporate Wellness Program.
- March 2022- The life benefits platform, Twic, has disclosed a new brand name, Forma, and a USD40 million fundraising round.
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