Market Research Future Insights
The corporate wellness market was valued USD 57.3 billion in 2021 and is expected to reach USD 109.4 billion by 2030 at 8.37% CAGR during the forecast period of 2022 to 2030.
Corporate wellness is a program created to help employees and their families. It encourages a healthy workplace by integrating different health activities into everyday work to lower health risks, boost productivity, and improve quality of life. The expanding use of wearable technology and fitness activities, even the rise in chronic illnesses among corporate workers, are all factors contributing to the growth of the worldwide corporate wellness market. However, worries over employee data breaches serve as a restraint on the market’s expansion. On the other hand, participants in the global corporate wellness industry have attractive potential due to the focus on prioritizing employee health and well-being in growing markets.
The pandemic cut employees isolated from the formal environment. The global shift in working culture from physical presence to virtual availability prompted market companies to improve their products to meet the changing needs of their customers. The viral outbreak motivates corporate wellness providers to implement communication and digital technologies such as cloud apps, online platforms, and remote networking. Wellness service providers are making use of the remote connection by providing virtual workouts and activities. Furthermore, corporate wellness service and solution providers use social networks to organize social events and group workouts.
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The Americas have recently led the global corporate wellness market, and this is expected to hold during the projection period. This may be ascribed to elements including heightened awareness of mental health issues and work-related stress, rising interest in workplace wellness, high healthcare costs, and the presence of major companies in the area.
Europe is expected to develop significantly throughout the projection period as a result of increased mental health awareness, high healthcare spending, rising prevalence of chronic disorders, and more government efforts in the area. Furthermore, the growing number of corporate wellness start-ups propels the market.
The global Corporate Wellness market has been segmented into Service, Category, and End User.
Based on Service, the market has been segmented into Health Risk Assessment, Fitness, Smoking Cessation, Biometric Screening, Nutrition & Weight Management, Stress Management, Alcohol & Drug Abuse Services, and Others.
Based on Category, the market has been segmented into Fitness & Nutrition Consultants, Psychological Therapists, and Organizations.
Based on End Users, the market has been segmented into Small-Scale Organizations, Medium-Scale Organizations, Large-Scale Organizations, and Others.
Some of the key market players are ComPsych Corporation, Wellness Corporate Solutions, Virgin Pulse, Privia Health, UnitedHealth Group, Quest Diagnostics, EXOS, Central Corporate Wellness, Sodexo, and Vitality Group International Inc.
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