The Corporate Wellness Market Size was valued at USD 61.11 billion in 2022 and is projected to reach USD 109.81 billion in 2030, with a growing of CAGR of 7.6% during the forecast period 2023-2030.
Rising employer adoption of corporate wellness programmes, the growing uptake of technology-powered corporate wellness, and a significant burden of chronic lifestyle diseases and mental health in companies are driving growth in the corporate wellness market.
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A corporate wellness programme is essentially a programme for the employees of a company or organisation. It is critical because the majority of employees in a company may suffer from various diseases such as hypertension, depression, and so on, and with the help of these programmes, these diseases can be prevented or reduced to a minimum, allowing employees to spend less money on health care and take fewer sick days, resulting in maximum productivity.
Chronic diseases such as lung diseases, cancer, and diabetes, among others, are predicted to become more prevalent in younger age groups, as well as poor eating habits, increasing the expansion of the corporate wellness market.
Key Drivers
Helps to reduce mental health problems and stress in employees.
the use of self-care challenges, meditation challenges, breathing challenges and walking challenges to deal with stressful conditions.
Restraints
Hackers are increasingly targeting healthcare data.
Employees who participate in wellness initiatives contribute personal information and health-related data.
Opportunities
In order to promote better workplace resilience, companies in developing nations have begun to prioritise cultivating employee wellness.
Employee wellbeing perks such as free online therapy sessions and meditation apps are provided to improve their physical, emotional, and financial well-being.
The increased focus on employee health and wellbeing is projected.
Challenges
Corporate wellness programmes must be tailored to the interests and changing needs of the workforce
Many companies provide cash incentives to encourage employee participation.
Employees were cut off from the formal environment because to the pandemic. The shift in global working culture from physical presence to virtual availability prompted market companies to improve their products to meet the changing needs of their customers. Corporate wellness providers are being urged to use communication and digital technologies such as cloud applications, online platforms, and remote networking as a result of the virus outbreak. Virtual workouts and activities are taking advantage of the remote connection by wellness service providers. Furthermore, on the social network, corporate wellness service and solution providers organise social events and group workouts. Companies like Wellness Corporate Solutions (US), for example, have changed their service delivery model to include onsite screening support. Stay at work and return to work are two new screening service products that the company has launched. However, the COVID-19 triggered a financial crisis for the companies, resulting in a considerable number of layoffs. These businesses also seek to reduce operational and other costs associated with paying their employees' salaries. The subscription to the wellness programmes was also cancelled. As a result, the COVID-19 epidemic had a mixed influence on the market.
By Service
Health Risk Assessment
Fitness
Smoking Cessation
Health Screening
Nutrition & Weight Management
Stress Management
Others
By End-Use
Small-scale Organizations
Medium-scale Organizations
Large-scale Organization
By Category
Fitness & Nutrition Consultants
Psychological Therapists
Organizations
By Delivery Model
Onsite
Offsite
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By Service
Screening activities to detect health concerns and appropriate interventional techniques to promote a healthy lifestyle among employees are the mainstays of corporate wellness programmes.
By Category
Around 83% of firms that provide employee well-being services choose to examine their employees' health risks. Wellness Corporate announced the WCS Analytics Plus platform, which includes an interactive data dashboard that allows companies to plan and implement healthy activities that contribute to more productive workplaces.
By End Use
Corporate wellness programmes can aid in the detection of many ailments. Health screening programmes are undertaken on a regular basis to monitor health, promote preventative care, and lower treatment costs. Corporate wellness programmes that concentrate on these illnesses can help to minimise disease burden and the overall cost of healthcare premiums paid by the business to any insurance provider. Although lockdown and office closures have caused a huge number of employees to migrate to work-from-home models, it is still critical that employees have access to and continue to use wellness services at work.
By Delivery
The service providers provide both in-house and outsourced health management services to large and small businesses. On-site fitness, which includes yoga and meditation, is becoming increasingly popular.
To fulfil the health needs of employees and their families, several companies have restructured or introduced perks and insurance plans. Because to COVID-19, service providers are educating employees on the negative aspects of working from home.
Regional Analysis:
The nations shrouded in the corporate wellbeing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a piece of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as a component of South America.
North America overwhelms the corporate wellbeing market during the conjecture time frame attributable to the expanded mindfulness in regards to the corporate health inside the district is supposed to observe fast development in the estimated time of 2022 to 2030. Asia-Pacific, then again, is supposed to show a worthwhile development because of a rising number of working individuals and developing information about worker wellbeing the board inside the previously mentioned figure time frame.
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major players are ComPsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions, EXOS, Marino Wellness, Privia Health, Vitality Group, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, SOL Wellness, Well Nation, ADURO, INC., Beacon Health Options, Fitbit, Inc., and Other Players
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 61.11 Billion |
| Market Size by 2030 | US$ 109.81 Billion |
| CAGR | CAGR of 7.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Others) • By End-Use (Small-scale Organizations, Medium-scale Organizations, Large-scale Organization) • By Category (Fitness & Nutrition Consultants, Psychological Therapists, Organizations) • By Delivery Model (Onsite, Offsite) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ComPsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions, EXOS, Marino Wellness, Privia Health, Vitality Group, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, SOL Wellness, Well Nation, ADURO, INC., Beacon Health Options, Fitbit, Inc. |
| DRIVING FACTORS | • Helps to reduce mental health problems and stress in employees. • The use of self-care challenges, meditation challenges, breathing challenges and walking challenges to deal with stressful conditions. |
| Restraints | • Hackers are increasingly targeting healthcare data. • Employees who participate in wellness initiatives contribute personal information and health-related data. |
Ans: The Corporate Wellness Market size is estimated to reach US$ 109.81 billion in 2030.
Ans: The Corporate Wellness Market is to grow at a CAGR of 7.6% over the forecast period 2023-2030.
North America overwhelms the corporate well-being market during the conjecture time.
Growing employee wellness preferences, availability of wellness providers, and increasing employer spending are all propelling the corporate wellness sector forward.
Hackers are increasingly targeting healthcare data as the primary restraint of corporate wellness.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Corporate Wellness Market Segmentation, By Service
8.1 Health Risk Assessment
8.2 Fitness
8.3 Smoking Cessation
8.4 Health Screening
8.5 Nutrition & Weight Management
8.6 Stress Management
8.7 Others
9. Global Corporate Wellness Market Segmentation, By End-Use
9.1 Small-scale Organizations
9.2 Medium-scale Organizations
9.3 Large-scale Organization
10. Global Corporate Wellness Market Segmentation, By Category
10.1 Fitness & Nutrition Consultants
10.2 Psychological Therapists
10.3 Organizations
11.Global Corporate Wellness Market Segmentation, By Delivery Model
11.1 Onsite
11.2 Offsite
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 ComPsych.
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Wellness Corporate Solutions
13.3 Virgin Pulse
13.4 Provant Health Solutions
13.5 EXOS
13.6 Marino Wellness
13.7 Privia Health
13.8 Vitality Group
13.9 Wellsource, Inc.
13.10 Central Corporate Wellness
13.11 Truworth Wellness
13.12 SOL Wellness
13.13 Well Nation
13.14 \ADURO, INC.
13.15 Beacon Health Options
13.6 Fitbit, Inc.
14 Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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