The recent research report published by Quadintel gives an insight into the global Corporate Wellness Market. According to this published competitive intelligence analysis, the global Corporate Wellness Market is expected to experience a promising annual revenue increase (USD in Mn) in 2021. A comprehensive overview and precise insights into possible future scenarios for the worldwide market are provided in this study.
The Global Corporate Wellness Market is forecast to expand at a CAGR of 4.95%, and will reach a value of USD 61.95 Bn by 2023, from USD 48.66 Bn in 2018.
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Key Companies Covered in the Corporate Wellness Market Research are Virgin Pulse, ComPsych Corporation, Vitality, Quest Diagnostics Health & Wellness, Interactive Health, BurnAlong, FitBliss, IncentFit, Training Amigo and other key market players.
The corporate wellness market, which comprises the health risk assessment, stress management, fitness and weight management segments, is expected to witness steady growth due to increasing cognizance of workforce wellness. An increase in the prevalence of lifestyle related diseases among employees, owing to hectic work, long hours, and unhealthy eating habits, creates a huge demand for corporate wellness programs across the world.
Segmentation based on service type
Based on the service type, the health risk assessment segment held the highest market share (46.56%) in 2018, owing to an increase in the incidence of chronic diseases, improved awareness among employers to keep their employees healthy, and higher spending on healthcare by employers. It was followed by the stress management segment with a share of 28.57% in 2018. This was on account of higher stress, anxiety, and depression among employees.
The global health risk assessment market is forecast to expand at a CAGR of 4.52%, and will reach USD 28.26 Bn by 2023, from USD 22.66 Bn in 2018. The higher adoption of employees health screening is aimed at promoting healthy lifestyles and reducing health risks among employees.
Segmentation based on end user
Based on end user, the market is segmented into large-scale, medium-scale and small-scale organizations. Large-scale organizations held the highest market share (42.1%) in 2018, and will continue to expand at a CAGR of 3.99% during the 2018-2023 period, owing to the adoption of new technologies, and increasing expenditure on employees well-being.
Regional insights
The corporate wellness market in North America accounted for the highest market share (37.42%) in 2018, and will expand at a CAGR of 4.98% during the 2018-2023 period, owing to factors like high occurrence of lifestyle associated diseases, adoption of premium wellness services and programs, and favorable government policies.
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In 2018, the health risk assessment segment contributed the highest revenue (USD 8.74 Bn) in the North America region, owing to increasing obesity, consumption of unhealthy food, and lack of physical activity among employees. This segment is projected to expand at a CAGR of 4.91% during the 2018-2023 period. The stress management segment is expected to hold a market share 26.9% by 2023, expanding at a CAGR of 3.35% during the 2018-2023 period. In the U.S., employers lose approximately 225 Mn working days annually due to stress, resulting in reduced productivity. This is likely to aid the growth of the stress management market in the region. The fitness and weight management segment is anticipated to witness the highest growth rate (7.05%) during the forecast period, owing to increasing awareness about nutrition and healthy lifestyles, and an expanding number of fitness centers in this region.
The U.S. dominated the regional corporate wellness market due to a steady rise in investments, adoption of corporate wellness services, escalating healthcare costs, and the rising incidence of chronic diseases. Furthermore, the U.S. market is being driven by higher adoption of newly introduced corporate wellness plans for fitness, weight management, and nutrition.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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List of Factors Covered in the Report are:
Geographical Breakdown: The regional section of the report analyses the market on the basis of region and national breakdowns, which includes size estimations, and accurate data on previous and future growth. It also mentions the effects and the estimated course of Covid-19 recovery for all geographical areas. The report gives the outlook of the emerging market trends and the factors driving the growth of the dominating region to give readers an outlook of prevailing trends and help in decision making.
Key inquiries addressed in the report:
Investigate the COVID 19 outbreak’s effects.
Our researchers give precise responses, pinpoint significant chances and fresh investments, and suggest excellent market strategy avenues.
Key Points Covered in this Report
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of market, Applications, Market Segment by Regions North America, Europe or Asia.
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
…….. and view more in complete table of Contents
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