Global Corporate Wellness Market Report and Forecast 2024-2032

Global Corporate Wellness Market Outlook

The global corporate wellness market value was USD 73.33 billion in 2023, driven by the increasing prevalence of chronic diseases across the globe. The market size is anticipated to grow at a CAGR of 6.5% achieving a value of USD 129.24 billion by 2032.

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Increasing Demand for Health Risk Assessment in Organisations to Augment the Corporate Wellness Industry Growth

Based on service type, the health risk assessment segment accounts for a substantial share of the corporate wellness industry owing to the effectiveness of this service in identifying and mitigating potential employee health risks, minimising organisation's expenditure and limiting employee absenteeism. Furthermore, this segment improves the work productivity and output of employees, which is key in increasing the demand for corporate wellness. Meanwhile, the rise of health consciousness amid the COVID-19 pandemic has prompted organisations to invest significant resources to ensure the wellbeing of their employees. This is expected to augment the corporate wellness industry further.

North America to Provide Significant Growth Opportunities to the Corporate Wellness Industry

Geographically, North America accounts for a significant share of the corporate wellness industry owing to stringent regulations and increased government investments to encourage the adoption of a myriad of corporate wellness programmes within the region. The United States alone is home to a majority of key players operating in the corporate wellness industry. Furthermore, the prevalence of chronic diseases, sedentary lifestyle, and mental health problems is responsible for robust industry growth in the forecast period. Meanwhile, rising substance abuse issues due to the opioid crisis is another key factor that is projected to significantly contribute to the growth of the corporate wellness industry.

Corporate Wellness: Market Segmentation

Corporate wellness describes the execution of various programmes by organisations that encourages healthy habits in the workplace. It incorporates health promotion strategies, policies, and other benefits that allow employees to have more options to be healthy at work and increase their productivity. Furthermore, it helps employers prevent potential productivity loss and healthcare costs by promoting a healthy work culture, which also improves employee retention and loyalty.

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By service type, the market is divided into:

• Health Risk Assessment
• Nutrition and Weight Management
• Stress Management
• Smoking Cessation
• Others

Based on end user, the industry can be segmented into:

• Private Sector
• Public Sector and Other End Users

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Focus on Mental Health to Bolster the Growth of the Global Corporate Wellness Industry

The growing emphasis on mental health around the world is driving the growth of the global corporate wellness industry. Rising mental health issues as a result of longer work hours and a higher burden are assisting the industry's growth. Furthermore, the COVID-19 pandemic has affected employees' mental health negatively due to social isolation as a result of the work-from-home culture. According to the Centers for Disease Control and Prevention (CDC), around 40% of adults in the United States were estimated to have mental health or substance abuse problems in 2020. Additionally, favourable government policies and investments to fight mental health concerns have aided the industry growth. The increasing acceptance of corporate wellness by various organisations and corporations is predicted to considerably contribute to the industry growth over the forecast period.

Key Industry Players in the Global Corporate Wellness Market

The report gives a detailed analysis of the following key players in the global corporate wellness market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ComPsych Corporation
• EXOS
• Marino Wellness LLC
• Privia Health LLC
• Quest Diagnostics Incorporated 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Corporate Wellness Market Report Snapshots

Corporate Wellness Market Size

Corporate Wellness Market Companies