Corporate Wellness Market Overview
Global corporate wellness market was valued at USD 66.52 billion in 2021 and is expected to reach USD 123.18 billion by 2028, at a CAGR of 9.2% over the analysis period.
Corporate health is important because the majority of employees in a firm have disorders including hypertension, depression, and other conditions. Employees who are in good health will use their sick days less frequently and pay less for health insurance, which will increase productivity. The corporate wellness sector is expanding as a result of the need to deploy wearable technologies, lower rising healthcare expenses, and provide healthcare services to employees.
The service providers offer both internal and external health management, providing a chance for the corporate wellness sector to expand. The high expense of workplace wellness is one of the challenges the corporate wellness sector faces. To better educate employees about their health risks, encourage healthy working habits, and reduce healthcare costs, corporate wellness programmes are developed and implemented in corporate offices. Corporate entities are gradually implementing these technologies to increase productivity, reduce absenteeism, and improve the quality of work and employee morale.
Players Covered in Corporate Wellness Market are:
- ComPsych Corporation
- Wellness Corporate Solutions
- Virgin Pulse
- Provant Health Solutions
- Marino Wellness
- Privia Health
- Vitality Group
- Wellsource Inc
- Central Corporate Wellness
- Truworth Wellness
- SOL Wellness
- CXA Group
Corporate Wellness Market Segment by service Types, Estimates, and Forecast by 2028
Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management
Corporate Wellness Market Segment by Applications, Estimates, and Forecast by 2028
Small Scale, Medium Scale, Large Scale
Regional Analysis for COVID-19 Outbreak-Global Corporate Wellness Market:
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
Corporate Wellness Market Dynamics
As more people become aware of and support corporate wellness efforts, the market for corporate wellness is growing. By encouraging a health-conscious workplace culture, the provision of such services is meant to encourage and support a holistic approach to employee well-being. Other benefits of wellness services include improved health outcomes, enhanced productivity, and higher levels of employee engagement. For instance, the UK-based Better Space was created to safeguard and enhance employees’ mental health at all times. The rise of the corporate wellness market is a result of the aforementioned factors.
Businesses are now willing to take on their employees’ health responsibility, and financial wellbeing is an emerging aspect in which workers experience significant stress as a result of financial troubles. A corporate wellness campaign service that includes predictions in the financial elements of curriculum, reviews, and action plans will soon be available. Employee wellness programmes are an increasingly important tool for businesses looking to attract top talent and raise employee satisfaction. Businesses can make the most of their significant expenditures in employee wellness programmes by taking advantage of these growths in the fitness and health promotion sector.s