Product Code: GVR-2-68038-395-9
Corporate Wellness Market Growth & Trends:
The global corporate wellness market size is expected to reach USD 75.3 billion by 2030, expanding at a CAGR of 4.38% during the forecast period, based on a new report by Grand View Research, Inc. Rising obese and overweight population increases insurance costs that account for the financial burden on employers. Corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating, and lack of exercise.
The pandemic has caused a change in the process of delivering wellness services. Although in-person sessions have resumed to some extent, the virtual platform has been made available to at-risk employees to meet their psychological and fitness needs. Initially, the lockdown imposed due to COVID-19 resulted in a transition to work from home, causing a great deal of stress. Companies around the globe are modifying their corporate wellness strategies to meet the emerging public health crisis due to COVID-19.
Organizations are increasingly using corporate wellness programmes to boost employee health and productivity, mitigate health risks, and minimize employee healthcare expenses. Businesses are more conscious of the importance of maintaining a psychologically and physically healthy workforce. As a result, capital investment in employee wellness programmes, solutions, and services has surged. Absenteeism expenses are reduced by USD 2.7 for every dollar spent on fitness programmes, according to a study conducted by Harvard economists. As a direct consequence, employees must be encouraged to live a healthier lifestyle in order to perform better.
Employers providing the programs have noticed a significant rise in productivity and a decline in leaves and attrition. In addition, companies in the U.K. initiated the Fit for Work service, which offers a tax benefit of USD 663.3 per year. Organizations are providing wearables, such as Fitbit, Apple, and Google watches, which helps in keeping track of parameters such as heart rate and blood pressure.
Moreover, the International Labor Organization (ILO) estimates that the Asia-Pacific employs 1.9 billion people. Globalization has led in significant economic expansion throughout the region, with most countries experiencing a continuous increase in the number of employees. Additionally, the region's workforce is aging, with the region's population aged 60 and over predicted to grow by 24% by 2050, according to the United Nations report. This would result in an increase in the burden of chronic diseases among the region's working population in the following years. These factors create a potential for the market to grow in emerging countries throughout the forecast period.
Corporate Wellness Market Report Highlights:
- In terms of service, the health risk assessment segment dominated the corporate wellness market in 2021. The health assessment activities enable employers to implement strategic initiatives to deal with the identified health risks
- The stress management segment is likely to showcase the fastest growth rate from 2021 to 2030, owing to the rising preference for on-site yoga and meditation services and the rising prevalence of depression and anxiety due to the COVID-19 pandemic.
- Based on End-Use, large scale organizations segment dominated the market in 2021. The infrastructure in large scale companies makes conducting fitness services easier and convenient
- North America dominated the market in 2021 due to the popularity of corporate wellness in the region. According to a survey by Benefits Canada conducted on 1300 employers, North America had the highest number of corporate wellness programs. More than 80.0% of the employers in North America are offering corporate wellness services to their employees
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Regional Scope
- 1.3 Estimates and Forecast Timeline
- 1.4 Research Methodology
- 1.5 Information procurement
- 1.5.1 Purchased Database
- 1.5.2 Gvr's Internal Database
- 1.5.3 Secondary Sources
- 1.5.4 Primary Research
- 1.6 Information Or Data Analysis
- 1.6.1 Data Analysis Models
- 1.7 Market Formulation & Validation
- 1.8 Model Details
- 1.8.1 Commodity Flow Analysis (Model 1)
- 1.8.2 Volume Price Analysis (Model 2)
- 1.9 List of Secondary Sources
- 1.10 List of Abbreviations
- 1.11 Objectives
- 1.11.1 Objective - 1
- 1.11.2 Objective - 2
Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Segment Outlook
- 2.2.1 Service
- 2.2.2 End-Use
- 2.2.3 Category
- 2.2.4 Delivery Model
- 2.2.5 Region
- 2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Segmentation
- 3.2 Penetration & Growth Prospect Mapping
- 3.2.1 Penetration Analysis
- 3.2.2 Market Driver Analysis
- 3.2.2.1 Reduction In Employee Healthcare Costs
- 3.2.2.2 Growing Prevalence And Early Onset of Chronic Diseases
- 3.2.2.3 Regulations For Wellness Programs
- 3.2.3 Market Restraint Analysis
- 3.2.3.1 Slow Adoption and Low Awareness
- 3.3 Corporate Wellness Market: Business Environment Analysis Tools
- 3.3.1 Porter's Five Forces Analysis
- 3.3.1.1 Bargaining Power of Suppliers: High
- 3.3.1.2 Bargaining Power of Buyers: Low
- 3.3.1.3 Threat of New Entrants: Moderate
- 3.3.1.4 Competitive Rivalry: High
- 3.3.1.5 Threat of Substitutes: Low
- 3.3.2 Pestel Analysis
- 3.3.2.1 Political & Legal
- 3.3.2.2 Economic
- 3.3.2.3 Technological
- 3.4 COVID-19 Impact Analysis
Chapter 4 Corporate Wellness Market: Service Analysis
- 4.1 Corporate Wellness Service Market Share Analysis, 2021 & 2030
- 4.2 Corporate Wellness Service Market: Segment Dashboard:
- 4.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Service Segment
- 4.3.1 Health Risk Assessment
- 4.3.1.1 Health Risk Assessment Market, 2016 - 2030 (USD Million)
- 4.3.2 Fitness
- 4.3.2.1 Fitness Market, 2016 - 2030 (USD Million)
- 4.3.3 Smoking Cessation
- 4.3.3.1 Smoking Cessation Market, 2016 - 2030 (USD Million)
- 4.3.4 Health Screening
- 4.3.4.1 Health Screening Market, 2016 - 2030 (USD Million)
- 4.3.5 Nutrition & Weight Management
- 4.3.5.1 Nutrition & Weight Management Market, 2016 - 2030 (USD Million)
- 4.3.6 Stress Management
- 4.3.6.1 Stress Management Market, 2016 - 2030 (USD Million)
- 4.3.7 Others
- 4.3.7.1 Others Market, 2016 - 2030 (USD Million)
Chapter 5 Corporate Wellness Market: End-Use Analysis
- 5.1 Corporate Wellness End-Use Market Share Analysis, 2021 & 2030
- 5.2 Corporate wellness End-Use Market: Segment Dashboard:
- 5.3 Market Size & Forecasts And Trend Analyses, 2016 To 2030 For The End-Use Segment
- 5.3.1 Small Scale Organizations
- 5.3.1.1 Small Scale Organizations Market, 2016 - 2030 (USD Million)
- 5.3.2 Medium Scale Organizations
- 5.3.2.1 Medium Scale Organizations Market, 2016 - 2030 (USD Million)
- 5.3.3 Large Scale Organizations
- 5.3.3.1 Large scale Organizations Market, 2016 - 2030 (USD Million)
Chapter 6 Corporate Wellness Market: Category Analysis
- 6.1 Corporate Wellness Category Market Share Analysis, 2021 & 2030
- 6.2 Corporate Wellness Category Market: Segment Dashboard:
- 6.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Category Segment
- 6.3.1 Fitness & Nutrition Consultants
- 6.3.1.1 Fitness & Nutrition Consultants Market, 2016 - 2030 (USD Million)
- 6.3.2 Psychological Therapists
- 6.3.2.1 Psychological Therapists Market, 2016 - 2030 (USD Million)
- 6.3.3 Organizations/Employers
- 6.3.3.1 Organizations/Employers Market, 2016 - 2030 (USD Million)
Chapter 7 Corporate Wellness Market: Delivery Model Analysis
- 7.1 Corporate Wellness Delivery Model Market Share Analysis, 2021 & 2030
- 7.2 Corporate Wellness Delivery Model Market: Segment Dashboard:
- 7.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Delivery Model Segment
- 7.3.1 onsite
- 7.3.1.1 onsite Market, 2016 - 2030 (USD mILLION)
- 7.3.2 offsite
- 7.3.2.1 offsite Market, 2016 - 2030 (USD Million)
Chapter 8 Corporate wellness Market: Regional Analysis
- 8.1 Corporate wellness Regional Market Share Analysis, 2021 & 2030
- 8.2 Corporate Wellness Regional Market: Segment Dashboard
- 8.3 Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends)
- 8.4 Market Size, & Forecasts, and Trend Analysis, 2016 to 2030
- 8.4.1 North America
- 8.4.1.1 North America corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.1.1.1 U.S.
- 8.4.1.1.1.1 U.S. corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.1.1.2 Canada
- 8.4.1.1.2.1 Canada corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2 Europe
- 8.4.2.1 Europe corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.1 U.K.
- 8.4.2.1.1.1 U.K. corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.2 Germany
- 8.4.2.1.2.1 Germany corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.3 France
- 8.4.2.1.3.1 France corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.4 Italy
- 8.4.2.1.4.1 Italy corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.5 Spain
- 8.4.2.1.5.1 Spain corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.6 Russia
- 8.4.2.1.6.1 Russia corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.7 Netherlands
- 8.4.2.1.7.1 Netherlands corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.2.1.8 Switzerland
- 8.4.2.1.8.1 Switzerland corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3 Asia Pacific
- 8.4.3.1 Asia Pacific corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.1 Japan
- 8.4.3.1.1.1 Japan corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.2 China
- 8.4.3.1.2.1 China corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.3 India
- 8.4.3.1.3.1 India corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.4 Australia
- 8.4.3.1.4.1 Australia corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.5 South Korea
- 8.4.3.1.6.1 South Korea corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.3.1.7 New Zealand
- 8.4.3.1.7.1 New Zealand corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.4 Latin America
- 8.4.4.1 Latin America corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.4.1.1 Brazil
- 8.4.4.1.1.1 Brazil corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.4.1.2 Mexico
- 8.4.4.1.2.1 Mexico corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.4.1.3 Argentina
- 8.4.4.1.3.1 Argentina corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.5 MEA
- 8.4.5.1 MEA corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.5.1.1 South Africa
- 8.4.5.1.1.1 South Africa corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.5.1.2 Saudi Arabia
- 8.4.5.1.1.2 South Africa corporate wellness Market, 2016 - 2030 (USD Million)
- 8.4.5.1.3 UAE
- 8.4.5.1.1.3 South Africa corporate wellness Market, 2016 - 2030 (USD Million)
Chapter 9 Competitive Analysis
- 9.1 Recent development & impact analysis by key Market participants
- 9.2 Company/Competition Categorization
- 9.3 Company Market Position Analysis
- 9.4 List of Few Corporate Wellness Providers
- 9.5 Company Profiles
- 9.5.1 COMPSYCH
- 9.5.1.1 Company Overview
- 9.5.1.2 Service benchmarking
- 9.5.1.3 Strategic initiatives
- 9.5.2 WELLNESS CORPORATE SOLUTIONS, LLC
- 9.5.2.1 Company Overview
- 9.5.2.2 Service benchmarking
- 9.5.2.3 Strategic initiatives
- 9.5.3 VIRGIN PULSE
- 9.5.3.1 Company Overview
- 9.5.3.2 Service benchmarking
- 9.5.3.3 Strategic initiatives
- 9.5.4 EXOS
- 9.5.4.1 Company Overview
- 9.5.4.2 Service benchmarking
- 9.5.4.3 Strategic initiatives
- 9.5.5 MARINO WELLNESS
- 9.5.5.1 Company Overview
- 9.5.5.2 Service benchmarking
- 9.5.6 PRIVIA HEALTH
- 9.5.6.1 Company Overview
- 9.5.6.2 Service benchmarking
- 9.5.6.3 Strategic initiatives
- 9.5.7 VITALITY
- 9.5.7.1 Company Overview
- 9.5.7.2 Service benchmarking
- 9.5.7.3 Strategic initiatives
- 9.5.8 WELLSOURCE, INC.
- 9.5.8.1 Company Overview
- 9.5.8.2 Service benchmarking
- 9.5.8.3 Strategic initiatives
- 9.5.9 CENTRAL CORPORATE WELLNESS
- 9.5.9.1 Company Overview
- 9.5.9.2 Service benchmarking
- 9.5.10 TRUWORTH WELLNESS
- 9.5.10.1 Company Overview
- 9.5.10.2 Service benchmarking
- 9.5.11 SOL WELLNESS
- 9.5.11.1 Company Overview
- 9.5.11.2 Service benchmarking