Corporate Wellness Market To Register A Market Size Of USD 93 Billion By 2028
As per the research reports by MRFR, the global corporate wellness market is likely to acquire a size of over USD 93 billion by 2028. The report further suggests that the corporate wellness market is projected to register a healthy growth rate of over 7% during the review timeframe from 2021-2028.
The corporate wellness program is designed to play a crucial part in supporting the employees and realizing their health-related risks. Corporate wellness programs help to reduce the healthcare unit’s spending. The corporate wellness market has experienced massive growth in recent years owing to the factors of growing smoking and drinking among employees, rise in obesity of the people, the prevalence of lifestyle diseases, growth in the labor force, and growth of the private sector CAPEX. However, the increase in the employees’ health risk and rise in costs of the companies to maintain welfare in the private sector are likely to restrict the growth of the corporate wellness market over the assessment timeframe.
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The corporate wellness market has an intensely competitive landscape. The global market players are introducing the latest technologies and products to grow their global market presence. The list of prominent players in the global corporate wellness market includes 1to1help.net Pvt Ltd, Truworth Health Technologies, Virgin Pulse, The Vitality Group Inc., Bupa Wellness Pty Ltd, ComPsych Corporation, Marino Wellness, Privia Health, Sodexo Group, and Provant Health, among several others.
The global corporate wellness market is split into several segments based on type, end-user, category, and region.
Based on service type, the global corporate wellness market is split into health and screening activities, weight management techniques, fitness management, nutrition, stress management, and health risk assessment.
By category, the global market for corporate wellness is bifurcated into psychological therapists, fitness and nutrition consultants, and some organizations.
The corporate wellness market is fragmented into large scale, medium, and small-scale enterprises based on end-users.
The corporate wellness market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The MRFR reports suggest that, in 2017, the corporate wellness market was led by the North American region. The wide number of corporate providers is the primary growth propelling aspect for the regional market. The growing adoption of a stylish lifestyle is another crucial aspect that catalyzes the regional market’s growth.
The European regional corporate wellness market will secure the second position over the forecasted era. The employees’ growth in investments in the components of the corporate wellness market is the primary growth aspect for the regional market. The awareness programs being conducted regarding corporate wellness are likely to fuel the regional market’s performance.
The Asia-Pacific regional corporate wellness market will likely grow rapidly over the assessment timeframe. The factors such as promotion of the corporate workplace, the rise in productivity and business results, and the rapidly growing population in countries like India and China are projected to boost the regional market’s growth.
The corporate wellness market for the Middle East & African region is likely to record steady growth over the review timeframe. Due to increased healthcare sectors, the regional market has been investing in some governmental, corporate wellness programs.
This program expands the TRX footprint into the corporate wellness market, allowing companies of all sizes to provide access to numerous virtual fitness classes and a TRX Suspension Trainer™ for every member at a low monthly fee.
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