Global Corporate Wellness Market

Corporate Wellness Market Size, Share, Growth Analysis, By Service Type(Nutrition, Weight Management, Fitness Services, Health Risk Assessment Corporate Wellness), By End User(Private Sector, Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations), By Category(Fitness, Nutrition Consultants, Psychological Therapists, Organizations), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35G2232 | Region: Global | Published Date: July, 2001
Pages: 165 | Tables: 103 | Figures: 76

Corporate Wellness Market Insights

Global Corporate Wellness Market size was valued at USD 52.78 billion in 2019 and is poised to grow from USD 55.1 billion in 2023 to USD 74.9 billion by 2031, growing at a CAGR of 4.47% in the forecast period (2024-2031).

Numerous companies and firms across numerous industry sectors have begun adopting health programmes for their staff, which will further increase demand. Workplace wellness initiatives assist businesses in increasing productivity while lowering overall operating expenses. The market for corporate wellness is anticipated to grow as people become more conscious of the importance of employee health and happiness.

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.

In the upcoming years, it is anticipated that the overall expenditures associated with lost productivity owing to illness-related absenteeism will 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.
 Market Segmental Analysis

US Corporate Wellness Market is poised to grow at a sustainable CAGR for the next forecast year.

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Corporate Wellness Market size was valued at USD 52.78 billion in 2019 and is poised to grow from USD 55.1 billion in 2023 to USD 74.9 billion by 2031, growing at a CAGR of 4.47% in the forecast period (2024-2031).

The existence of several international players defines the market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation.  'Virgin Pulse', 'Wellness Corporate Solutions', 'ComPsych Corporation', 'Provant Health Solutions', 'Optum, Inc.', 'EXOS', 'Vitality Group', 'Marino Wellness', 'Truworth Wellness', 'Sodexo', 'Wellness Layers', 'TotalWellness Health', 'Cerner Corporation', 'Premise Health', 'Kinema Fitness', 'Fitbit, Inc.', 'CoreHealth Technologies', 'Limeade', 'LifeDojo', 'RedBrick Health'

The rise in the prevalence of lifestyle diseases, improvements in the healthcare industry, and an increase in employee knowledge of such wellness programmes globally are the main factors driving the worldwide corporate wellness market.

Post-pandemic changes: During the course of pandemic, several organizations implemented wellness policies to encourage the employees. Different wellness policies have been developed by various businesses to help them fight this war collectively and operate effectively without sacrificing quality. However, during the early stages of the pandemic the businesses faced a number of difficulties and needed some time to adjust to the new environment. Additionally, the work-from-home model necessitated several wellness plans and programmes, which increased the overall cost. Overall, COVID-19 has boosted the market for corporate wellness not only for the allotted time period but also for years to come, and the businesses now require it in order to reduce absence and maintain a positive workplace culture.

In 2022, North America held the greatest revenue share of more than 49% and dominated the corporate wellness industry. This is the largest percentage of employees since the incidence of mental health issues and chronic conditions is rising. The main forces behind health and well-being efforts in the United States include the need to handle workplace stressors such long work hours, work-life balance, greater workplace competitiveness, and others.

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Global Corporate Wellness Market

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