Corporate Wellness Market Report Forecast by Industry Outlook, Capital Investment, Opportunities and Trends 2022-2030

Corporate Wellness Market Outlook 2028

The global corporate wellness market was valued at US$ 40.2 Bn in 2020

It is estimated to expand at a CAGR of 8.2% from 2021 to 2028

The global corporate wellness market is expected to cross the value of US$ 74.5 Bn by the end of 2028

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Analysts’ Viewpoint on Corporate Wellness Market Scenario

The increasing adoption of advanced corporate wellness programs in many developing regions is fueling the growth of the global market. The global corporate wellness market is expected to witness tremendous growth opportunities due to rising incidences of chronic disorders across the globe. The rising number of health complications in employees demand for health assessment programs at their workplaces. Market contributors are leveraging the opportunities to improve revenue and presence in the global market, as these programs are found to be highly effective in increasing the productivity of employees at workplace. Furthermore, the rising implementation of such programs in order to check health issues in employees is driving the global market. However, the unavailability of skilled professionals is a major restraining factor in the global corporate wellness market.

Increasing Prevalence of Chronic Diseases and Associated Risk Factors

The global corporate wellness market is driven by rapidly rising cases of chronic diseases across the globe. The increasing number of market players selling corporate wellness programs to various organizations is attributable to market growth. Manufacturers operating in the global corporate wellness market are focusing on high quality services to boost the overall health and wellbeing of employees. Many employers in developing countries are adopting these services for better health and improved lifestyle. This has significantly reduced the total healthcare expenditure and helps improve the productivity of employees across the globe.

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There is an increase in awareness about better health and fitness among corporate employees especially during the global coronavirus outbreak. Many people have started investing in corporate wellness programs to check their health and fitness. The corporate wellness programs provide services such as stress management, health screening, weight management, food & nutrition, etc. Service providers operating in the global corporate wellness market are gaining value-grab opportunities after the coronavirus pandemic. The corporate or workplace wellness programs are employer-funded services designed to maintain good health of employees.

Adoption of Corporate Wellness Programs by Employees

The global corporate wellness market is driven by the rising number of cardiovascular diseases. The corporate wellness programs are in place to know various health risks associated with the employees. In order to promote healthy behavior at workplaces and boost productivity, many corporate organizations are implementing corporate wellness programs in their organizations. Corporate wellness programs help employees to understand health risks associated with them and reduce healthcare expenses to a great extent. Corporate wellness programs comprise health risk assessments, fitness, health screening, weight management, smoking cessation, and nutrition. These programs are aimed at the overall health and wellbeing of employees.

Technological Growth and Advancement in Healthcare Industry Boost Market Growth

The global corporate wellness market is driven by increasing incidences of lifestyle diseases, advancement in healthcare sector, and rising awareness of such wellness programs in employees at the global level. Due to rapidly increasing heart-related diseases in corporate employees, there is a willingness to invest in such programs at workplaces. In addition, cancer, diabetes, high blood pressure, and respiratory diseases are the leading cause of death around the world. Governments are also investing in the promotion of such corporate wellness programs to improve the health and productivity of employees in various organizations.

Moreover, the increasing demand for corporate wellness services in many organizations is creating potential growth opportunities for market players. In order to increase the overall wellbeing of employees, market players are offering cost-effective and highly efficient corporate wellness programs at workplaces.

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North America Offers Lucrative Growth Opportunities to Market Players

North America is expected to account for the largest share of the global corporate wellness market. Technological advancement in healthcare industry, rising incidence of chronic disorders, and increasing geriatric population are some of the factors contributing to the corporate wellness market growth in North America. The rising awareness in people about these services in North America, along with increasing investments in healthcare accelerates the corporate wellness market in the region. Improvement in healthcare services at corporate workplaces is also driving the market.

Corporate Wellness Market: Overview

According to Transparency Market Research’s latest research report on the global corporate wellness market for the historical period 2017-2019, considering 2020 as the base year and the forecast period from 2021 to 2028, rise in awareness about health and wellness among employers & employees and increase in incidence of chronic conditions are anticipated to propel the global market during the forecast period

By Key Driver

Work-related stress, obesity, and physical inactivity are major workplace health problems and have significant occupational health risks. Additionally, employees who work full-time are reported to have other chronic health problems.

Surge in health consciousness among the population of countries in the Americas and Asia has increased awareness about the benefits of healthy lifestyle. This is anticipated to increase participation in health, fitness, and diet programs.

Increase in Incidence of Chronic Conditions: Major Driver

Employers are adopting wellness programs due to increase in incidence of chronic conditions. Incidence of chronic diseases at workplace increases the employer healthcare expenditure and lowers employee productivity.

Health risk behaviors are the root of several health problems in the U.S. Lifestyle disease epidemic causes chronic conditions such as diabetes, heart disease, and pulmonary conditions.

Rise in prevalence and earlier onset of chronic conditions increases healthcare cost burden for employers

Treatment of chronic conditions accounts for over 75% of national health expenditure

Indirect costs are four-times higher for individuals with chronic conditions compared to healthy individuals due to illness-related loss of productivity, including employee absence, and reduction in performance

Taking these factors into consideration, the employers are readily implanting health and wellness programs at the workplace in order to maintain the employee’s health and for increased productivity

Key Questions Answered in Corporate Wellness Market Report

  • What is the sales/revenue generated by corporate wellness services across all regions during the forecast period?
  • What are the key trends in the corporate wellness market?
  • What are the key factors/opportunities that are likely to affect future of corporate wellness service?
  • What are the major drivers, restraints, and opportunities in the corporate wellness market?
  • Market in which region is set to expand at the highest CAGR during the forecast period?
  • Which corporate wellness service segment will have the highest revenue globally in 2028 and which service type segment will expand at the highest CAGR during the forecast period?

Segmentation

Service Type

  • Health Risk Assessment
  • Fitness
  • Smoking Cessation
  • Health Screening
  • Weight Management
  • Nutrition
  • Others (Stress Management, Disease Management, Vaccination, etc.)

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

TABLE OF CONTENT

1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Corporate Wellness Market

4. Market Overview

4.1. Introduction

4.1.1. Service Type Definition

4.1.2. Industry Evolution / Developments

4.2. Overview

4.3. Market Dynamics

4.3.1. Drivers

4.3.2. Restraints

4.3.3. Opportunities

4.4. Global Corporate Wellness Market Analysis and Forecast, 2017–2028

4.4.1. Market Revenue Projections (US$ Mn)

4.4.2. Market Volume/Unit Shipments Projections

4.5. Porter’s Five Force Analysis

5. Key Insights

5.1. Government support and initiatives

5.2. Increase in number of white collar employees

5.3. Rise in awareness about health and wellness among employers & employees

5.4. Restraints

5.5. Entry of local players leads to price competition

5.6. Willingness of employer to invest in wellness programs

5.7. Increase in incidence of chronic conditions

5.8. Restraints

5.9. Rise in external competition

5.10. Government support and initiatives

6. Global Corporate Wellness Market Analysis and Forecast, by Service Type

6.1. Introduction & Definition

6.2. Key Findings / Developments

6.3. Market Value & Volume Forecast, by Service Type, 2017–2028

6.3.1. Health Risk Assessment

6.3.2. Fitness

6.3.3. Smoking Cessation

6.3.4. Health Screening

6.3.5. Weight Management

6.3.6. Nutrition

6.3.7. Others (stress management, disease management, vaccination, etc.)

6.4. Market Attractiveness Analysis, by Service Type

7. Global Corporate Wellness Market Analysis and Forecast, by Region

7.1. Key Findings

7.2. Market Value & Volume Forecast, by Region

7.2.1. North America

7.2.2. Europe

7.2.3. Asia Pacific

7.2.4. Latin America

7.2.5. Middle East & Africa

7.3. Market Attractiveness Analysis, by Country/Region

8. North America Corporate Wellness Market Analysis and Forecast

8.1. Introduction

8.1.1. Key Findings

8.2. Market Value & Volume Forecast, by Service Type, 2017–2028

8.2.1. Health Risk Assessment

8.2.2. Fitness

8.2.3. Smoking Cessation

8.2.4. Health Screening

8.2.5. Weight Management

8.2.6. Nutrition

8.2.7. Others (stress management, disease management, vaccination, etc.)

8.3. Market Value & Volume Forecast, by Country, 2017–2028

8.3.1. U.S.

8.3.2. Canada

8.4. Market Attractiveness Analysis

8.4.1. By Service Type

8.4.2. By Country

9. Europe Corporate Wellness Market Analysis and Forecast

9.1. Introduction

9.1.1. Key Findings

9.2. Market Value & Volume Forecast, by Service Type, 2017–2028

9.2.1. Health Risk Assessment

9.2.2. Fitness

9.2.3. Smoking Cessation

9.2.4. Health Screening

9.2.5. Weight Management

9.2.6. Nutrition

9.2.7. Others (stress management, disease management, vaccination, etc.)

9.3. Market Value & Volume Forecast, by Country/Sub-region, 2017–2028

9.3.1. Germany

9.3.2. U.K.

9.3.3. France

9.3.4. Spain

9.3.5. Italy

9.3.6. Rest of Europe

9.4. Market Attractiveness Analysis

9.4.1. By Service Type

9.4.2. By Country/Sub-region

10. Asia Pacific Corporate Wellness Market Analysis and Forecast

10.1. Introduction

10.1.1. Key Findings

10.2. Market Value & Volume Forecast, by Service Type, 2017–2028

10.2.1. Health Risk Assessment

10.2.2. Fitness

10.2.3. Smoking Cessation

10.2.4. Health Screening

10.2.5. Weight Management

10.2.6. Nutrition

10.2.7. Others (stress management, disease management, vaccination, etc.)

10.3. Market Value & Volume Forecast, by Country/Sub-region, 2017–2028

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia & New Zealand

10.3.5. Rest of Asia Pacific

10.4. Market Attractiveness Analysis

10.4.1. By Service Type

10.4.2. By Country/Sub-region

11. Latin America Corporate Wellness Market Analysis and Forecast

11.1. Introduction

11.1.1. Key Findings

11.2. Market Value & Volume Forecast, by Service Type, 2017–2028

11.2.1. Health Risk Assessment

11.2.2. Fitness

11.2.3. Smoking Cessation

11.2.4. Health Screening

11.2.5. Weight Management

11.2.6. Nutrition

11.2.7. Others (stress management, disease management, vaccination, etc.)

11.3. Market Value & Volume Forecast, by Country/Sub-region, 2017–2028

11.3.1. Brazil

11.3.2. Mexico

11.3.3. Rest of Latin America

11.4. Market Attractiveness Analysis

11.4.1. By Service Type

11.4.2. By Country/Sub-region

12. Middle East & Africa Corporate Wellness Market Analysis and Forecast

12.1. Introduction

12.1.1. Key Findings

12.2. Market Value & Volume Forecast, by Service Type, 2017–2028

12.2.1. Health Risk Assessment

12.2.2. Fitness

12.2.3. Smoking Cessation

12.2.4. Health Screening

12.2.5. Weight Management

12.2.6. Nutrition

12.2.7. Others (stress management, disease management, vaccination, etc.)

12.3. Market Value & Volume Forecast, by Country/Sub-region, 2017–2028

12.3.1. GCC Countries

12.3.2. South Africa

12.3.3. Rest of Middle East & Africa

12.4. Market Attractiveness Analysis

12.4.1. By Service Type

12.4.2. By Country/Sub-region

13. Competition Landscape

13.1. Market Player – Competition Matrix (By Tier and Size of companies)

13.2. Market Share Analysis By Company (2020)

13.3. Market Footprint Analysis

13.3.1. By Region

13.3.2. By Service Type

13.4. Competitive Business Strategies

13.5. Company Profiles

13.5.1. EXOS

13.5.1.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.1.2. Product Portfolio

13.5.1.3. SWOT Analysis

13.5.1.4. Strategic Overview

13.5.2. ProvantHealth (Hooper Holmes, Inc.)

13.5.2.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.2.2. Product Portfolio

13.5.2.3. SWOT Analysis

13.5.2.4. Strategic Overview

13.5.3. Wellness Corporate Solutions

13.5.3.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.3.2. Product Portfolio

13.5.3.3. SWOT Analysis

13.5.3.4. Strategic Overview

13.5.4. ComPsych Corporation

13.5.4.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.4.2. Product Portfolio

13.5.4.3. SWOT Analysis

13.5.4.4. Strategic Overview

13.5.5. Optum, Inc. (United Health Group)

13.5.5.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.5.2. Product Portfolio

13.5.5.3. SWOT Analysis

13.5.5.4. Strategic Overview

13.5.6. Sodexo

13.5.6.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.6.2. Product Portfolio

13.5.6.3. SWOT Analysis

13.5.6.4. Strategic Overview

13.5.7. BupaWellness Pty Ltd. (BupaGroup)

13.5.7.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.7.2. Product Portfolio

13.5.7.3. SWOT Analysis

13.5.7.4. Strategic Overview

13.5.8. JLT Australia (RecovreGroup)

13.5.8.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.8.2. Product Portfolio

13.5.8.3. SWOT Analysis

13.5.8.4. Strategic Overview

13.5.9. Central Corporate Wellness

13.5.9.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.9.2. Product Portfolio

13.5.9.3. SWOT Analysis

13.5.9.4. Strategic Overview

13.5.10. Truworth Wellness

13.5.10.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.10.2. Product Portfolio

13.5.10.3. SWOT Analysis

13.5.10.4. Strategic Overview

13.5.11. CXA Group Pte. Limited

13.5.11.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.11.2. Product Portfolio

13.5.11.3. SWOT Analysis

13.5.11.4. Strategic Overview

13.5.12. SOL Wellness

13.5.12.1. Company Overview (HQ, Business Segments, Employee Strength)

13.5.12.2. Product Portfolio

13.5.12.3. SWOT Analysis

13.5.12.4. Strategic Overview

 

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