Corporate Wellness Market – Overview
This report on the corporate wellness market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the wellness programs and services for corporate companies and new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides overall information and data analysis of the global corporate wellness market regarding leading market segments based on service type and regions.
Based on service type, the corporate wellness market has been segmented into: health risk assessment, fitness, smoking cessation, health screening, weight management, nutrition, and others (stress management, disease management, and vaccination, among others). Each of the market segments have been extensively analyzed based on the market-related factors such as the number of white-collar employees, region-wise health awareness and government support/rules and regulations, and capital expenditure by the private sector by region. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2016 to 2026. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
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Global Corporate Wellness Market Witness Most Promising Rise in Demand:
The demand within the global corporate wellness market is growing on account of advancements in the domain of employee welfare. The corporate sector has come under the radar of scrutiny, and is being closely monitored for its employee welfare policies. The emergence of a new era within corporate wellness has improved the performance of the workers. The focus on providing optimal benefits to employees has created humongous opportunities for market growth and maturity. Large MNCs and corporate houses host several events and drills aimed at fostering corporate wellness. These events can cover a range of areas, spanning into healthcare, insurance, and other individual needs. Therefore, the value of the global corporate wellness market is expected to touch new heights in the times to follow.
It is legit to expect that the total volume of revenues within the global corporate wellness market would grow by leaps and bounds in the times to follow. Several companies host employee welfare programs and schemes to create congeniality and wellness across the premises. Provision of premium benefits to employees helps in improving the performance of the workers. Moreover, measures to foster corporate wellness across a company can help entities in meeting their corporate social responsibility. This is an important dynamic of market growth and maturity.
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Health Risk Assessment Takes the Lead across Global Firms
Based on application, the global corporate wellness market can be segmented into health risk assessment, smoking cessation, fitness drills, weight management, nutritional advice, and health screening. The demand for health risk assessment and health screening has been the highest across the corporate sector. The holistic approach followed towards health management under the aforementioned applications has aided market growth. Moreover, economic viability of conducting regular health screenings has also played a vital role in market growth.
Governments have, time and again, focused on the need to build workspaces into safe, secure, and hygienic centers. Therefore, state authorities have stipulated several guidelines for corporate firms. Moreover, there are regular checks and appraisals conducted to check on the progress of new and established vendors. Presence of a corporate wellness program in place can be crucial for companies to be graded well by state inspection authorities. Henceforth, there are bright growth prospects for vendors and stakeholders operating in the global corporate wellness market.
Key Players of Corporate Wellness market Report:
The key players operating in the corporate wellness market are EXOS, ProvantHealth (Hooper Holmes, Inc.), Wellness Corporate Solutions, ComPsych Corporation, Optum, Inc. (United Health Group), Sodexo, BupaWellness Pty Ltd (BupaGroup), JLT Australia (RecovreGroup), Central Corporate Wellness, TruworthWellness, CXA Group Pte.Limited, and SOL Wellness.
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