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Corporate Wellness Market- Description
Corporate wellness is an approach towards the enhancement of the mental as well as physical well-being of employees in the workplace. Several wellness programs have been designed to be adopted in organizations in order to help the employees reduce work stress, increase their productivity, and build a non-toxic work environment.
Some of the most common corporate wellness programs or activities are smoking cessation programs, wellness assessments and seminars, yoga and physical exercise drives, among others.
In fact, various companies have formed a separate department or committee which is solely dedicated to promote and implement corporate wellness within the workspace.
Source: WMR
Corporate Wellness Market- Overview
Corporate wellness market is anticipated to reach a valuation of USD 105,910 million by 2033 amplifying at a CAGR of 7.0% during the forecast period of 2023-2033.
With rapid technological and economic growth, there has been an increase in work pressure among the employees of various organizations. This has not only deteriorated their mental health but is also resulting in the occurrence of lifestyle diseases like hypertension, diabetes, and heart ailments. Therefore, it is quite important for the workforce to improve their quality of life.
Source: WMR
Corporate Wellness Market- Key Trends
Increasing prevalence of chronic and lifestyle diseases resulting in rising health consciousness among the masses.:
With the growing prevalence of work stress and hectic schedule, people are left with less to no time to look into their mental, emotional or physical well-being. Half of the population, especially in urban areas spend most of their times in workplaces. Therefore, it has become quite crucial for the management of any organization to keep a check on the well-being of their employees and motivate them to have a healthy lifestyle.
Furthermore, rise in obese population and decrease in employee healthcare costs in various nations is positively swaying the market dynamics. Notably, the COVID 19 pandemic had an adverse impact on the mental and physical well-being of employees all across the world. The sudden transition to virtual work modes didnt go well for many which in turn popularized online corporate wellness sessions for the employees to cater to their related needs, thus boosting the market growth.
On the downside, slow adoption rate of corporate wellness programs in workplaces and lack of cognizance about the importance of mental health among the masses is impeding the progression of corporate wellness market.
Corporate Wellness Market- Key segments
By service
Fitness Services
Biometric Screening
Health Risk Assessment
Alcohol/Substance Abuse Services
Health Screening
Mental/Behavioral Health Management
Smoking Cessation
Virtual Consultation/Virtual Care
Stress Management
Employee Assistance Programs
Nutrition & Weight Management
Health Benefit Programs
Others
The stress management segment is expected to amplify significantly over the forecast timeline owing to increasing inclination of the masses towards meditation and on-site yoga services.
By Category
Psychological Therapists
Organization/Employee
Fitness & Nutrition Consultants
The fitness/nutrition consultants segment is poised to capture a high market share due to rising prevalence of disorders such as diabetes and obesity driven by unhealthy lifestyle and eating habits.
By Delivery Model
Onsite
Offsite
Source: WMR
By End-User
Private Sector
Public Sector
Others
By Organization Size
Small Organization
Large Organization
Medium Organization
The large scale organizations segment has been registering rapid expansion over the stipulated timeframe ascribing to the infrastructure of these organizations being favorable to conduct various wellness activities and programs. The aforementioned segments and sub segments are further analyzed in the reports to identify the accurate size and scope of this industry during the forecast duration.
Corporate Wellness Market- Regional Landscape
Major regions constituting the geographical landscape of this industry vertical are Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Among these, North America market is anticipated to capture a substantial revenue share during the forecast period owing to the growing popularity of corporate wellness in the region. Notably, around 80.0% of employers are providing wellness services to their workforce in the region.
Corporate Wellness Market- Competitive Hierarchy
Major players operating in the market place are Medtronic Plc, ComPsych Corporation, Wellness Corporate Solutions, Virgin Pulse, Inc, Provant Health Solutions LLC, EXOS, Privia Health Group, The Vitality Group, Inc, Wellsource, Inc., Central Corporate Wellness, Trueworth Wellness, and Sol Wellness LLC, UnitedHealth Group, Beacon Health Options, Cerner Corporation, LifeWorks, Inc., Anthem, Inc., Workplace Options, Centene Corporation, Cleveland Clinic, Virgin Pulse, Marino Wellness, TELUS, ADURO, INC., Well Nation, Fitbit, Inc., Corporate Fitness Works and others.
In February 2022, Health tech giant Quantum CorpHealth Pvt Ltd launched its new offices in three cities of India namely Pune, Bengaluru, and Hyderabad. This decision of the company is aimed at meeting the nations escalating demand for health and wellness services in workplaces.
Apart from that, various other players are undertaking strategic decisions like new product and service launches, collaborations, mergers, research & development investments and many more to development a strong foothold in the market place and garner significant returns in the ensuing years.
Report Scope:
Corporate Wellness Market
Forecast Years: 2023-2033
Corporate Wellness Market
Historical Years: 2020-2021
Corporate Wellness Projected Market 2033: USD 105,910 million
Corporate Wellness Market CAGR: 7.0%
Key segments reported:
Service Outlook (health risk assessment, fitness, smoking Cessation, health screening, nutrition & weight management, stress management, and others)
End Use Outlook (small scale organizations, medium scale organizations, and large scale organizations),
Category Outlook (fitness & nutrition consultants, psychological therapists, and organizations/employers)
Delivery Model Outlook (onsite, offsite),
Key Regions and Countries Reported
North America (US and Canada)
Europe (UK, Germany, France, Italy, and Spain)
Asia Pacific (India, China, Japan, and Australia)
Latin America (Brazil and Mexico)
Middle East & Africa (South Africa)
Key players profiled: Medtronic Plc, ComPsych Corporation, Wellness Corporate Solutions, Virgin Pulse, Inc, Provant Health Solutions LLC, EXOS, Privia Health Group, The Vitality Group, Inc, Wellsource, Inc, Central Corporate Wellness, Trueworth Wellness, and Sol Wellness LLC, UnitedHealth Group, Beacon Health Options, Cerner Corporation, LifeWorks, Inc., Anthem, Inc., Workplace Options, Centene Corporation, Cleveland Clinic, Virgin Pulse, Marino Wellness, TELUS, ADURO, INC., Well Nation, Fitbit, Inc., Corporate Fitness Works and others.
1. Global CORPORATE WELLNESS Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. CORPORATE WELLNESS Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2022 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million)
1.4. Global CORPORATE WELLNESS Market Scope and Market Estimation
1.4.1. Global CORPORATE WELLNESS Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global CORPORATE WELLNESS Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. CORPORATE WELLNESS Market Segmentation
1.5.1. Service of Global CORPORATE WELLNESS Market
1.5.2. Category of Global CORPORATE WELLNESS Market
1.5.3. Delivery Model of Global CORPORATE WELLNESS Market
1.5.4. End User of Global CORPORATE WELLNESS Market
1.5.5. Organization Size of Global CORPORATE WELLNESS Market
1.5.6. Key Regions of Global CORPORATE WELLNESS Market
2. Global CORPORATE WELLNESS Market - Executive Summary
2.1. Global CORPORATE WELLNESS Market Summary & Snapshot
2.2. Global CORPORATE WELLNESS Market, By Service (US$ Million)
2.3. Global CORPORATE WELLNESS Market, By Category (US$ Million)
2.4. Global CORPORATE WELLNESS Market, By Delivery Model (US$ Million)
2.5. Global CORPORATE WELLNESS Market, By End User (US$ Million)
2.6. Global CORPORATE WELLNESS Market, By Organization Size (US$ Million)
2.7. Global CORPORATE WELLNESS Market, By Geography (US$ Million)
2.8. Global CORPORATE WELLNESS Market Outlook & Future Opportunities
3. CORPORATE WELLNESS Market Trends, Outlook, and Factors Analysis
3.1. Global CORPORATE WELLNESS Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global CORPORATE WELLNESS Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. CORPORATE WELLNESS Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Corporate wellness programmes are becoming more popular.
3.2.1.2. Chronic Disease Prevalence and Risk Factors are on the Rise
3.2.1.3. Technological Growth and Advancement in Healthcare Industry
3.2.2. Restraints
3.2.2.1. Scarcity of competent and accredited professionals to help companies with their wellness programmes.
3.2.3. Opportunities
3.2.3.1. Increasing adoption of Corporate Wellness Programs by Employees
3.2.3.2. Increase in Incidence of Chronic Conditions
3.2.3.3. Rise in Awareness about Health and Wellness among Employers and Employees
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of CORPORATE WELLNESS Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of CORPORATE WELLNESS Market
3.9.1. By Service
3.9.2. By Category
3.9.3. By Delivery Model
3.9.4. By End User
3.9.5. By Organization Size
3.9.6. By Regions
4. Global CORPORATE WELLNESS Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global CORPORATE WELLNESS Market, 2020 2021 (US$ Million)
4.2. Global CORPORATE WELLNESS Market, By Service, 2020 to 2021 (US$ Million)
4.3. Global CORPORATE WELLNESS Market, By Category, 2020 to 2021 (US$ Million)
4.4. Global CORPORATE WELLNESS Market, By Delivery Model, 2020 to 2021 (US$ Million)
4.5. Global CORPORATE WELLNESS Market, By End User, 2020 to 2021 (US$ Million)
4.6. Global CORPORATE WELLNESS Market, By Organization Size, 2020 to 2021 (US$ Million)
4.7. Global CORPORATE WELLNESS Market, By Region, 2020 to 2021 (US$ Million)
5. Global CORPORATE WELLNESS Market Estimates & Forecast Trend Analysis, by Service
5.1. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by Service, 2022 & 2033
5.2. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by Service, 2022 to 2033
5.2.1. Fitness Services
5.2.2. Biometric Screening
5.2.3. Health Risk Assessment
5.2.4. Alcohol/Substance Abuse Services
5.2.5. Health Screening
5.2.6. Mental/Behavioral Health Management
5.2.7. Smoking Cessation
5.2.8. Virtual Consultation/Virtual Care
5.2.9. Stress Management
5.2.10. Employee Assistance Programs
5.2.11. Nutrition & Weight Management
5.2.12. Health Benefit Programs
5.2.13. Others
6. Global CORPORATE WELLNESS Market Estimates & Forecast Trend Analysis, by Category
6.1. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by Category, 2022 & 2033
6.2. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by Category, 2022 to 2033
6.2.1. Psychological Therapists
6.2.2. Organization/Employee
6.2.3. Fitness & Nutrition Consultants
7. Global CORPORATE WELLNESS Market Estimates & Forecast Trend Analysis, by Delivery Model
7.1. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by Delivery Model, 2022 & 2033
7.2. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by Delivery Model, 2022 to 2033
7.2.1. Offsite
7.2.2. Onsite
Global CORPORATE WELLNESS Market Estimates & Forecast Trend Analysis, by End User
7.3. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by End User, 2022 & 2033
7.4. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by End User, 2022 to 2033
7.4.1. Private Sector
7.4.2. Public Sector
7.4.3. Others
Global CORPORATE WELLNESS Market Estimates & Forecast Trend Analysis, by Organization Size
7.5. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by Organization Size, 2022 & 2033
7.6. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by Organization Size, 2022 to 2033
7.6.1. Small Organization
7.6.2. Medium Organization
7.6.3. Large Organization
8. Global CORPORATE WELLNESS Market Analysis and Forecast, by Region
8.1. Global CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global CORPORATE WELLNESS Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America CORPORATE WELLNESS Market: Estimates & Forecast Trend Analysis
9.1. North America CORPORATE WELLNESS Market Assessments & Key Findings
9.2. North America CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America CORPORATE WELLNESS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1. By Service
9.3.2. By Category
9.3.3. By Delivery Model
9.3.4. By End User
9.3.5. By Organization Size
9.3.6. By Major Country
9.3.6.1. The U.S.
9.3.6.2. Canada
10. Europe CORPORATE WELLNESS Market: Estimates & Forecast Trend Analysis
10.1. Europe CORPORATE WELLNESS Market Assessments & Key Findings
10.2. Europe CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe CORPORATE WELLNESS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
10.3.1. By Service
10.3.2. By Category
10.3.3. By Delivery Model
10.3.4. By End User
10.3.5. By Organization Size
10.3.6. By Major Country
10.3.6.1. Germany
10.3.6.2. The U.K.
10.3.6.3. France
10.3.6.4. Italy
10.3.6.5. Spain
10.3.6.6. Rest of Europe (includes all other European countries)
11. Asia Pacific CORPORATE WELLNESS Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific CORPORATE WELLNESS Market Assessments & Key Findings
11.2. Asia Pacific CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific CORPORATE WELLNESS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
11.3.1. By Service
11.3.2. By Category
11.3.3. By Delivery Model
11.3.4. By End User
11.3.5. By Organization Size
11.3.6. By Major Country
11.3.6.1. China
11.3.6.2. Japan
11.3.6.3. India
11.3.6.4. ASEAN
11.3.6.5. South Korea
11.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa CORPORATE WELLNESS Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa CORPORATE WELLNESS Market Assessments & Key Findings
12.2. Middle East & Africa CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa CORPORATE WELLNESS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Service
12.3.2. By Category
12.3.3. By Delivery Model
12.3.4. By End User
12.3.5. By Organization Size
12.3.6. By Major Country
12.3.6.1. GCC
12.3.6.2. South Africa
12.3.6.3. Egypt
12.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America CORPORATE WELLNESS Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America CORPORATE WELLNESS Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America CORPORATE WELLNESS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
13.3.1. By Service
13.3.2. By Category
13.3.3. By Delivery Model
13.3.4. By End User
13.3.5. By Organization Size
13.3.6. By Major Country
13.3.6.1. Brazil
13.3.6.2. Mexico
13.3.6.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. CORPORATE WELLNESS Market Revenue Share Analysis (%), by Major Players (2021)
14.2. CORPORATE WELLNESS Market Competition Matrix, by Leading Players
14.3. CORPORATE WELLNESS List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. Wellness Corporate Solutions
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. Wellness Corporate Solutions
15.3. ComPsych Corporation
15.4. UnitedHealth Group
15.5. Provant Health Solutions
15.6. Beacon Health Options
15.7. Cerner Corporation
15.8. LifeWorks, Inc.
15.9. Anthem, Inc.
15.10. Workplace Options
15.11. Centene Corporation
15.12. Cleveland Clinic
15.13. Virgin Pulse
15.14. Marino Wellness
15.15. EXOS
15.16. Vitality Group
15.17. TELUS
15.18. Privia Health
15.19. Central Corporate Wellness
15.20. Wellsource, Inc.
15.21. SOL Wellness
15.22. Truworth Wellness
15.23. ADURO, INC.
15.24. Well Nation
15.25. Fitbit, Inc.
15.26. Corporate Fitness Works
15.27. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
17.2. Key Insights & Recommendations from Analysts