Corporate Wellness Market Size, Share & Segmentation 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), and by Region | Global Market Forecast 2023-2030

Report Scope & Overview:

The Corporate Wellness Market is expected to grow at a 7.6% CAGR from USD 61.11 billion in 2022 to USD 109.81 billion in 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.

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.

Market Dynamics:

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.

Impact of COVID-19 Analysis

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.

Market Segmentation:

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 Outlook

• Fitness & Nutrition Consultants

• Psychological Therapists

• Organizations

By Delivery Model Outlook

• Onsite

• Offsite

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.

Key market players :

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 others

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 2021 to 2028. 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.

REGIONAL COVERAGE:

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

Frequently Asked Questions (FAQ) :