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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
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| Breakup by Delivery Model |
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| Breakup by Category |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Corporate Wellness Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Corporate Wellness Market was valued at USD 73.33 billion in 2023.
The market is expected to grow at a CAGR of 6.5% from 2024 to 2032 to reach USD a value of USD 129.24 billion by 2032.
The major industry drivers are the wide range of programs and the increasing awareness of health benefits of corporate wellness programmes.
The key trends in the market are increasing incentives provided by corporate wellness programmes, rising health concerns and advancements in detecting illnesses.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.
The service types include health risk assessment, nutrition and weight management, stress management, and smoking cessation, among others.
The end-user segments include private sector and public sector and other end users.
The major players in the industry are ComPsych Corporation, EXOS, Marino Wellness LLC, Privia Health LLC, and Quest Diagnostics Incorporated, among others.
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