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Product Overview
Corporate Wellness services are developed and implemented in corporate offices t- help workers better understand their health risks, engage in healthier workplace behavior, and save money on healthcare. Corporates are gradually implementing these systems in order t- boost efficiency, reduce absenteeism, and boost employee morale and quality of work. Wellness plans address specific policies and interferences t- address a variety of risk factors and health issues, as well as techniques that may affect various levels of the organization, such as individual employee behavior improvement, corporate culture, and worksite climate. Workplace wellness initiatives are a critical component of any organization or business that incorporates individual and organizational-level strategies and interventions t- improve health. Globally increasing prevalence of obesity, overweight, smoking, and other lifestyle disorders, as well as a rise in the number of white-collar employees and private sector CAPEX, are driving business growth.
Market Highlights
Global Corporate Wellness Market is expected t- project a notable CAGR of 7.8% in 2030.
Global Corporate Wellness Market t- surpass USD 98.5 billion by 2030 from USD 57.25 billion in 2020 at a CAGR of 7.8% in the coming years, i.e., 2021-30. Many companies and enterprises across a variety of industry verticals have begun t- introduce health-related services for their workers, boosting consumer demand. Workplace wellness services support enterprises in rising efficiency while minimizing overall operating costs. The demand for Corporate Wellness Market is expected t- expand as people become more conscious of their own health and well-being.
Global Corporate Wellness Market: Segments
Health Risk Assessment segment t- grow with the highest CAGR during 2020-30
Global Corporate Wellness Market is segmented by service type int- Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management,, and Others. Health Risk Assessment segment held the largest market share in the year 2020. Screening practices t- identify health risks and the implementation of effective interventional interventions t- encourage a healthier lifestyle among employees are the mainstays of Corporate Wellness Market initiatives. Around 83% of employers that provide employee well-being programs want t- determine their workers' health risks.
Large-Scale Organizations segment t- grow with the highest CAGR during 2020-30
Global Corporate Wellness Market is segmented by End-users int- Small Scale Organizations, Medium-Scale Organizations,, and Large-scale Organizations. Large Scale Organizations segment held the largest market share in the year 2020. Programs and facilities should be integrated int- the infrastructure of larger organizations. Small companies may benefit from corporate memberships and services outsourcing. Corporate Wellness Market services aid in the detection of a variety of diseases. Health screening services are performed on a regular basis t- monitor health, encourage preventive care, and lower medical costs. Corporate Wellness plans that concentrate on these conditions may help t- minimize disease risk and the total cost of healthcare premiums charged by the company t- every insurance provider.
Stress Management segment t- grow with the highest CAGR during 2020-30
Global Corporate Wellness Market is segmented by category int- Fitness & Nutrition Consultants, Psychological Therapists, and Employers. Over the forecast period, the Stress Management segment is projected t- expand at the fastest pace. The service providers provide both in-house and outsourced health care programs t- large and small businesses. On-site exercise, which includes yoga and meditation, is becoming increasingly popular. As a result, from 2020 t- 2030, the stress management segment is expected t- rise at the fastest pace.
Market Dynamics
Drivers
Emergence of financial wellbeing and improvement in quality of life
Financial wellbeing is an emerging factor in which workers face considerable stress as a result of financial problems, and businesses are now prepared t- shoulder their employees' health obligations. Predictions in financing aspects such as curriculum, reviews, and action plans will soon emerge as a Corporate Wellness Market initiative offers. Employee wellness services are becoming a more critical tool for attracting top talent and improving the quality of life for their workforce. These increases in the Fitness and Health Promotion industry are a way for businesses t- get the most out of their valuable employee wellness program investments.
Inspiring workers and lucrative opportunities provided
Employee health results can be influenced by the power of rewards, which are becoming more common, plentiful, and creative. Some businesses in the United States are using a lottery system of enticing rewards such as theatre or sports tickets t- inspire workers t- make better decisions when their mood is down. The rewards become more innovative and, in some cases, more lucrative for the employee as these wellness services are designed t- engage, inspire, and reward their employees. These aspects are influential because most businesses are attracting t- this, where it not only increases productive work but als- aids in the company's growth.
Restraint
High workplace wellness Market cost
One of the problems facing the Corporate Wellness industry is the high cost of workplace wellness.
Global Corporate Wellness Market: Key Players
Provant Health Solutions
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
EXOS
Marin- Wellness
Privia Health
Vitality Group
Wellsource, Inc.
Central Corporate Wellness Market
Truworth Wellness
SOL Wellness
Other Prominent Players
Global Corporate Wellness Market: Regions
Global Corporate Wellness Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, Asia Pacific,, and the Middle East,, and Africa. Global Corporate Wellness Market in North America held the largest market share in the year 2020 in terms of revenue. The region's substantial growth can be attributed t- the region's growing corporate enterprises, as well as raising consciousness among corporate owners about their employees' health benefits. Increasing emissions and a hectic lifestyle have a detrimental impact on employee wellbeing, which has a knock-on effect on the organization's work culture. On the other hand, the Asia Pacific region is projected t- rise faster than the rest of the world during the forecast era. This is largely due t- rising health consciousness among the general population, as well as increased urbanization. Employees in the area often favor businesses that provide health insurance t- their workforce as well as incentive-based wellness initiatives within the business.
Global Corporate Wellness Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil,, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey,, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia,, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa,, and Rest of MENA
Global Corporate Wellness Market report als- contains analysis on:
Corporate Wellness Market Segments:
By Service type:
Health Risk Assessment
Fitness
Smoking Cessation
Health Screening
Nutrition & Weight Management
Stress Management
Others
By End-user:
Small Scale Organizations
Medium Scale Organizations
Large Scale Organizations
By Category:
Fitness & Nutrition Consultants
Psychological Therapists
Employers
Corporate Wellness Market Dynamics
Corporate Wellness Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Corporate Wellness Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Corporate Wellness market?
What is the Corporate Wellness market growth?
Which segment accounted for the largest Corporate Wellness market share?
Wh- are the key players in the Corporate Wellness market?
What are the factors driving the Corporate Wellness market?