Global Corporate Wellness Market by Service Type and Delivery Model: Global Opportunity Analysis and Industry Forecast, 2023-2029- Report By Introspective Market Research
Market Overview:
The global Corporate Wellness Market size was valued at USD 66.52 billion in 2021 and is projected to reach USD 123.18 billion by 2028, growing at a CAGR of 9.2% from 2022 to 2028
Corporate well-being is another idea, wherein programs are made to offer a better way of life for the representative in the working environment. By designing an organizational culture of health to employee well-being, corporate wellness programs support a holistic approach and increase productivity, reduce absenteeism, and boost morale. The historical backdrop of corporate health expressed that during the 1800s the act of representative well-being was for the most part basic. The Pullman organization planned an athletic relationship for their laborers in 1870. Today, a number of businesses offer a variety of corporate wellness programs to increase employee job satisfaction. These programs include free or reduced gym memberships, free massages at work, on-site fitness centers, yoga classes, educational opportunities, restrooms, vaccination clinics, health risk assessments, healthy food at work, and wellness outings.
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The Report Will Include A Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
Market Dynamics and Factors:
The increasing prevalence of chronic diseases is driving the corporate wellness market. The increasing prevalence of chronic diseases has been the primary driver of the market for corporate wellness’s expansion over the past few decades. Due to their hectic lifestyles, many people don’t have enough time to take care of their physical and mental health after work, which causes them to have serious health issues. For instance, 537 million people worldwide will have diabetes in 2021, according to Statista. WHO expressed that 17.9 million individuals make a demise each due to cardiovascular illnesses. These are preventable sicknesses corporate well-being can uphold representatives in making sound propensities.
Technological advancement in wellness programs is expected to drive the corporate wellness market. A lucrative market expansion opportunity exists for wellness programs that make use of cutting-edge technology. Today, wearable technologies like fitness trackers and Fitbit smartwatches, which monitor activity levels and boost workplace productivity, are gaining popularity. Through these gadgets, bosses can follow specific data seeing their representatives, for example, pulse, number of steps required consistently, active work levels, rest quality, number of consumed calories, and more data.
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Top Key Players Covered In The Corporate Wellness Market:
- ComPsych Corporation (US)
- Wellness Corporate Solutions (US)
- Virgin Pulse (US)
- Provant Health Solutions (US)
- EXOS(US)
- Marino Wellness (US)
- Privia Health (US)
- Vitality Group (Chicago)
- Wellsource Inc. (US)
- Central Corporate Wellness (Singapore)
- Truworth Wellness (US)
- SOL Wellness (US)
- CXA Group (Singapore)
- Optum (US), and Other Major Players.
Corporate Wellness Market Report Highlight:
- By Service Type, the health risk assessment segment is anticipated to lead the growth of the Corporate Wellness market in the forecasted timeframe. Employees can lead healthier lives thanks to the health risk assessment system, also known as health risk appraisal. It is a tool that is used to gather information about health.
- By end-users, the Large-Scale segment is expected to have the highest share of the Corporate Wellness market over the projected period. This organization has a high budget so they can increase the investment in the program wellness for employees’ health.
- By Delivery Model, the onsite segment is set to develop at the highest CAGR during the forecasted timeframe. This segment gives employees a personal touch to their health and gives them the opportunity to exercise under the direction of fitness consultants.
- The North American region is expected to have the highest share of the Corporate Wellness market over the projected period. Due to the increasing number of new organizations and the increasing adoption of wellness programs in this region, such as nutritional balance, weight management, fitness classes, and smoking cessation programs.
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Key Industry Development:
In February 2022, Quantum CorpHealth Pvt Ltd, a wellbeing tech organization, opened three new workplaces in Bengaluru, Pune, and Hyderabad to meet the nation’s quickly developing requirements for well-being and health administrations for corporate representatives and their wards.
In December 2020, MediKeeper declared the send-off of the Completely Coordinated Coronavirus Application with risk appraisal, cleared for work process, and case the executives.
Corporate Wellness Market Segmentation:
By Service Type
- Health Risk Assessment
- Fitness
- Smoking Cessation
- Others
By End-User
- Small Scale
- Medium Scale
- Large Scale
By Delivery Model
- Onsite
- Offsite
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For this report, Introspective Market Research has segmented the Corporate Wellness Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
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Scope of the Report:
The latest research on the Corporate Wellness market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Corporate Wellness industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Corporate Wellness market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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