Corporate Wellness Market Share, Size by Service (Health Risk Assessment), by Category (Fitness & Nutrition Consultants), By Delivery Model, by End-Use, Region (Asia Pacific, Europe, North America, Middle East, and Africa, Latin America), and forecast period-2022 – 2030

Report ID - MRC_831 | Pages - 168 | Category - Healthcare and Pharma

Corporate Wellness Market Overview:

Corporate Wellness Market was valued at USD 52.40 Billion in 2021, registering a CAGR of 7.2% during the forecast period (2022-2030), and is projected to be worth USD 97.97 Billion by 2030. Programs that target various risk factors and conditions and have an impact on both employees and the entire firm make up corporate wellness initiatives. The National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) asserts that corporate wellness and health promotion initiatives and the provision of disease prevention plans have the potential to significantly lower healthcare costs by influencing more than 150 million American workers. Employees are urged to lead healthier lifestyles, which is expected to improve employee wellness and assist businesses in increasing productivity and cutting expenses. In the upcoming years, it is anticipated that the overall expenditures associated with lost productivity owing to illness-related absenteeism is anticipated to surpass USD 150 billion. Increased insurance expenses as a result of the growing number of obese and overweight people place a financial burden on companies.

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Corporate Wellness Market Dynamics:

Corporate wellness initiatives focus on particular regulations and restrictions that address a range of risk factors and health issues, as well as planning strategies that may have an impact at various organizational levels, such as changing employee behavior, organizational culture, and worksite dynamics. Any organization that employs a range of strategies and interventions to promote the health of its employees should consider workplace wellness programs to be a crucial component.

Driver:

The rise in chronic disease incidence, employers are implementing wellness programs are the factors act as major drivers to the growth of the market. Further, chronic disease prevalence at work reduces employee productivity and raises company healthcare costs. For instance the prevalence of lifestyle diseases in the US is responsible for many of the nation’s health issues, including diabetes, heart disease, and pulmonary ailments are the major drivers of the market.

Restraint:

The most recent trend among cybercriminals is leaking healthcare data. Participants in wellness programs at work provide personal information and health-related statistics. Fitness trackers and other digital devices are also more susceptible to hacking as they have weak data security safeguards and can be monitored by thieves. On the other side, corporate wellness providers are more concerned with the privacy and medical information of their clients and are working with cybersecurity companies to stop data breaches. Hence, cybercrime is expected to hamper the growth of the market.

COVID-19 Analysis of Corporate Wellness Market:

The corporate wellness market has been severely impacted since the COVID-19 epidemic in many different parts of the world. Shipments were impacted during the initial lockdown due to a labor shortage and the closure of a manufacturing facility. The pandemic’s initial effects on China were tremendous. However, the nation’s circumstances have stabilized, and all product and service production rates have increased. As a result, it is determined that COVID-19’s overall impact on the corporate wellness market is moderate.

Corporate Wellness Market Report Coverage:

Report AttributesReport Details
Study Timeline2016-2030
Market Size in 2030 (USD Billion)97.97 Billion
CAGR (2022-2030)7.2%
By ServiceHealth Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Others
By CategoryFitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers
By Delivery ModelOnsite, Offsite
By End-useSmall Scale Organizations, Medium Scale Organizations, Large Scale Organizations
By geographyNorth America– (U.S., Canada, Mexico)

Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)

Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)

Latin America- (Brazil, Argentina, Chile, Rest of Latin America)

The Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA)

Key PlayersComPsych, Wellness Corporate Solutions, Virgin Pulse; Provant Health Solutions, EXOS, Marino Wellness, Privia Health, Vitality Group, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, and SOL Wellness, Well Nation, ADURO, INC., Beacon Health Options, Fitbit, Inc.

Corporate Wellness Market Segmental Analysis:

By Service

The health risk assessment sector led the corporate wellness market with a revenue share of 21.1% in 2020. Corporate wellness initiatives often involve screening procedures to detect health hazards and the use of suitable interventional tactics to encourage staff to lead healthy lifestyles. Further, more than, 80% of firms that offer services for employee well-being choose to examine their workers’ health risks. The WCS Analytics Plus platform, which comprises an interactive data dashboard and was introduced by Wellness Corporate Solutions in June 2016, enables clients to plan and carry out healthy activities that promote productive workspaces. Hence, health risk assessment segment is fueling the growth of the corporate wellness market.

By Category

Organizations led the market and accounted for the major revenue share of 50.3% in the category segment in 2021. The service providers provide internal and external health management services for big and small businesses. On-site fitness, which incorporates yoga and meditation, is a growing trend fueling the market growth. As a result, during the forecast period, the stress management market is expected to grow at the fastest rate.

By Delivery Model

In 2020, onsite corporate wellness programs dominated the delivery model market and represented more than 57% of total revenue. Over the projected period, the segment is expected to grow rapidly. The facilities to exercise under the direction of fitness consultants and coaches to meet their individual health needs are provided by on-site wellness initiatives, which give employees a personal touch on their well-being. To accommodate the health needs of employees and their families, several firms have changed or increased benefits and insurance programs. Further, due to COVID-19, service providers are educating workers about the negative effects of working from home. For instance, the epidemic has caused a shift from physical meetings to virtual meetings. However, compared to in-person meetings, associated difficulties such as the need to pay closer attention to non-verbal cues such as body language and facial expressions, slow internet connections that cause disconnection from the meeting, and multitasking during meetings are making people feel more stressed and exhausted. Hence, the onsite delivery mode segment dominated the growth of the corporate wellness market.

corporate wellness market by delivery mode

By End-Use

The end-user segment was dominated by large organizations, and 2020 accounted for 51.2% of total revenue. RAND estimates that in 2013, approximately 70% of organizations expended money on health screening services. According to well-researched studies, initiatives that are highly executed are expected to generate a 3:1 return on investment. The infrastructure of larger organizations might include programs and services. Smaller businesses are expected to profit from corporate memberships and service outsourcing. Hence, the end-user segment is fueling the growth of the market during the forecast period.

corporate wellness market by end use

By Region

In 2020, North America held the greatest revenue share of 42% and led the corporate wellness industry. In the US, approximately 50.0% of firms offer wellness programs to their staff, according to the RAND employer survey. Greater employers provide more sophisticated wellness programs. Further, Asia Pacific is anticipated to experience significant growth during the forecast period. As corporate wellness creativities are mandatory in the Asia Pacific region due to the region’s expanding working population along with increasing employee health management attentiveness.

Corporate Wellness Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. The majority of manufacturers are concentrating on new Service launches, improvements to current Services, and mergers and acquisitions. –

  • ComPsych
  • Virgin Pulse
  • Wellness Corporate Solutions
  • 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.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Service Picture of Corporate Wellness
    • Global Corporate Wellness Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief
    • Parent Market Overview
    • Overall Corporate Wellness Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews
    • AverService Type primary breakdown ratio
  2. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
      • Restraints
    • Opportunity
      • Impact forces on market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Therapeutic
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Service Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor
    • Covid-19 impact on Global Economy
    • Covid-19 impact on Corporate Wellness Market demand  
    • Post-Covid Impact on Corporate Wellness Market Demand
    • Impact Analysis of Russia-Ukraine Conflict
  3. Global Corporate Wellness Market Segmentation, Revenue (USD Billion), (2022-2030)
    • By Service
      • Health Risk Assessment
      • Fitness
      • Smoking Cessation
      • Health Screening
      • Nutrition & Weight Management
      • Stress Management
      • Others
    • By Category
      • Fitness & Nutrition Consultants
      • Psychological Therapists
      • Organizations/Employers
    • By Delivery Model
      • Onsite
      • Offsite
    • By Application
      • Hospitals
      • Standalone Practices
      • Group Practices
      • Others
    • By End-Use
      • Small Scale Organizations
      • Medium Scale Organizations
      • Large Scale Organizations
  1. By Global Corporate Wellness Market Overview, By Region
    • North America Corporate Wellness Market Revenue (USD Billion), by Countries, (2022-2030)
      • US
        • By Service
        • By Category
        • By Delivery Model
        • By Application
        • By End-Use
      • Canada
      • Mexico
    • Europe Corporate Wellness Market Revenue (USD Billion), by Countries, (2022-2030)
      • France
      • UK
      • Spain
      • Russia
      • Italy
      • BENELUX
    • Asia Pacific Corporate Wellness Market Revenue (USD Billion), by Countries, (2022-2030)
      • China
      • Japan
      • Australia
      • South Korea
      • India
      • ASEAN
  1. Latin America Corporate Wellness Market Revenue (USD Billion), by Countries, (2022-2030)
    • Brazil
    • Argentina
    • Chile
  2. The Middle East and Africa Corporate Wellness Market Revenue (USD Billion), by Countries, (2022-2030)
    • GCC
    • Turkey
    • South Africa
  3. Global Corporate Wellness Market Revenue: Competitive Analysis, 2021
    • Key strategies by players
    • Revenue (USD Billion and %), By manufacturers, 2021
    • Player Positioning by Market Players, 2021
  4. Competitive Analysis
    • Align Technology
      • Business Overview
      • Business Financials (USD Billion)
      • Service Category, Source, and Specification
      • Main Business/Business Overview
      • Geographical Analysis
      • Recent Development
      • Swot Analysis
    • ComPsych
    • Virgin Pulse
    • Wellness Corporate Solutions
    • 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.
  5. Market Research Findings & Conclusion

Disclaimer

Research Methodology

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