Market Overview
The global Corporate Wellness Market is expected to grow at a CAGR of 8.37% and is expected to reach a value of USD 104,190 Million by the end of the forecast period.
Corporate wellness is a program that supports employees and their families by incorporating various health activities into regular work activities to minimize health risks, improve quality of life, and increase productivity. Increased investment in mental health and stress management programs, expanding acceptance of wearable technologies and fitness activities, and rising chronic diseases among corporate employees are all contributing to the worldwide corporate wellness market's rise.
The escalating professional fight among employees to outperform their peers, execute on or before deadlines, reduce budgets, and increase sales are just a few variables that contribute to employee stress. These variables induce mental health problems and stress in employees, which has an impact on their health and productivity.
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Key Players:
The major key players in the market are ComPsych Corporation (the US), Wellness Corporate Solutions (the US), Virgin Pulse (the US), Privia Health (the US), UnitedHealth Group (the US), Quest Diagnostics (the US), EXOS (the US), Central Corporate Wellness (Singapore), Sodexo (France), and Vitality Group International, Inc. (the US).
Market Segmentation
- Based on the Service, the global Corporate wellness Market has been segmented into Health risk assessment, Fitness, Smoking cessation, Biometric screening, Nutrition weight management, Stress management, Alcohol drug abuse services, and Other services.
- Based on the Category, the global Corporate wellness Market has been segmented into Fitness nutrition consultants, Psychological therapists, and Organizations.
- Based on the End-Users, the global Corporate wellness Market has been segmented into Small-scale organizations, Medium-scale organizations, and Large-scale organizations.
- Based on the Region, the global Corporate wellness Market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East Africa.
Regional Classification
The Americas have recently dominated the worldwide corporate wellness market and are expected to do so again over the projected period. This is due to reasons such as increased awareness of mental health and work stress, the rising popularity of workplace wellness, high healthcare spending, and the presence of the region's major players. People in the region are health-conscious, which helps to fuel the corporate wellness market's growth. Furthermore, as the region's working population ages, corporate wellness initiatives are becoming increasingly important to address age-related health issues among the region's workforce. Furthermore, rising government backing for the adoption of workplace wellness has supported the regional market growth.
Due to rising awareness of mental health, high healthcare spending, rising frequency of chronic disorders, and increased government activities in the region, Europe is expected to develop significantly throughout the projection period. Furthermore, the growing number of corporate wellness start-ups propels the industry forward. As a result of the continuously changing healthcare industry and the vast prospects for market development, Asia-Pacific is the fastest expanding market for corporate wellness. Asia has one of the most active labor markets. Asia has experienced a remarkable economic expansion in recent years as a result of globalization.
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