Corporate Wellness Market to be Worth Over US$ 99.36 Billion by 2027

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The global corporate wellness market is anticipated to propel at a compound annual growth rate (CAGR) of 7.1% during forecast years. It is expected to reach around USD 99.36 billion by 2027.  The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape.

Corporate Wellness plays an important role in boosting the employee’s health as most out of them are suffering from various diseases such as depression, hypertension and so on. Out-standing wellness benefit programs for employees can improve the mental, financial, and physical health of employees as well as this mitigates the cost associated with turnover and healthcare. An employee with good health cost less for an organization towards their healthcare expenses and makes few absentees per year that improves the productivity output of the company. Rapid industrialization in emerging economies reduces the incidences of hypertension and other diseases such as diabetes with diabetes management.

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Report Highlights

  • North America dominated the global corporate wellness market with maximum revenue share in the year 2019. Significant dominance of the office culture in the North America influence corporate owners in the region to implement such services or programs to benefit their employees with good health. The aforementioned factor drives the market significantly.
  • The Asia Pacific encountered flourishing growth over the forecast period owing to significant increase in the working population along with rising awareness for health management of employees.
  • In 2019, large scale organizations led the global corporate wellness market in terms of revenue share. As per RAND Corporation, around 70% of the large-scale organizations had invested in the health screening services or programs in the year 2013. Further, high return on investment through these programs influence large number of organizations to implement corporate wellness programs.
  • Onsite delivery model emerged as the most dominating segment in terms of revenue share in the global corporate wellness market and anticipated to witness the fastest growth over the forecast period. This type of program provides personal touch and guidance for exercises to the employees.

Growth Factors

Significant rise in the prevalence of chronic diseases across the world along with the adoption of sedentary lifestyle are some of the prime factors that drives the market growth. Furthermore, economic benefits offered by these wellness programs as well as rising awareness for mental and physical health expected to trigger the market growth over the forecast period. However, huge cost associated to outsource such programs or services predicted to hamper the growth of the market. Nonetheless, high rate of return on investment from wellness programs projected to drive the market significantly in the coming years.

Regional Snapshots

In 2019, North America led the global corporate wellness market with significant revenue share and expected to flourish prominently during the analysis period. The significant growth of the region is mainly attributed to the increasing corporate businesses in the region along with rising awareness among the corporate owners towards their employee’s health benefit. Increasing pollution and busy lifestyle impact adversely on the employee’s health that finally impact the organization’s work culture. In addition, Harvard Business School has stated in its report that American companies have reduced their medical expenses by US$ 3.27 for each dollar spent on the wellness programs. This encourages other employers too to implement corporate wellness programs in their organizational culture to get maximum benefits in term of return on investment.

On the other hand, the Asia Pacific encounter positive growth outlook during the forecast period. This is primarily due to increasing urbanization coupled with the rising health awareness among the public. For the same, employees in the region also prefer those organizations that offer health benefits to the employees as well as incentive-based wellness programs inside the organization.

Some of the prominent players in the corporate wellness market include:

  • Wellness Corporate Solutions
  • ComPsych
  • Provant Health Solutions
  • Beacon Health Options
  • Virgin Pulse
  • Marino Wellness
  • EXOS
  • Vitality Group
  • Privia Health
  • Central Corporate Wellness
  • Wellsource, Inc.
  • SOL Wellness
  • Truworth Wellness
  • ADURO, INC.
  • Well Nation
  • Fitbit, Inc.

Segments Covered in the Report

This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes the market thoroughly by classifying global corporate wellness market report on the basis of multiple factors including service, category, delivery model, end-use, and region:

By Service

  • Fitness
  • Health Risk Assessment
  • Health Screening
  • Smoking Cessation
  • Stress Management
  • Nutrition & Weight Management
  • Others

By Category

  • Psychological Therapists
  • Fitness & Nutrition Consultants
  • Organizations/Employers

By Delivery Model

  • Offsite
  • Onsite

By End-use

  • Large Scale Organizations
  • Medium Scale Organizations
  • Small Scale Organizations

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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