The global corporate wellness market size is expected to reach USD 84.9 billion by 2025,
according to a new report by Grand View Research, Inc. The market is estimated
to expand at a CAGR of 6.8% during the forecast period. Rising demand for
corporate wellness activities due to increased insurance costs that result in
financial burden on employers is driving the market. The corporate wellness
initiatives target particular health risk factors such as stress, obesity,
smoking, diet, lack of exercise, etc.
Various companies across
the globe have started initiating wellness programs for disease prevention and
productivity improvement. According to a study conducted by Harvard economists,
absenteeism costs fall by USD 2.73 for every dollar spent on wellness programs.
Therefore, the employees need to be encouraged to adopt a healthier lifestyle
to improve their productivity.
Access Research Report of Corporate Wellness Market@: www.grandviewresearch.com/industry-analysis/corporate-wellness-market
Further key findings from the study suggest:
· Corporate wellness programs are aiming at
the improvement of employee well-being, to reduce absenteeism costs, which
account for a huge productivity and monetary loss
· In addition, employers have to pay the
mandated health insurance costs, which increases their economic burden
· Health risk assessment segment led the
overall market, in terms of revenue share, in 2017. The health screening
activities enable the employers to implement strategic initiatives to deal with
the identified health risks
· Stress management segment is likely to
witness the fastest growth rate over the forecast period (from 2018 to 2025),
owing to rising preference for on-site yoga and meditation services
· Large-scale organizations dominated the
end-use segment in 2017. Implementation of wellness services is easier and
convenient in the large-scale companies due to their advanced infrastructure
· Medium-scale organizations are likely to
experience the fastest growth over the forecast period, due to increasing
adoption of health screening services
· Wellness service providers dominated the
market in 2017. The fitness & nutrition consultants segment is anticipated
to witness the fastest growth from 2018 to 2025
· North America was the dominant regional
market in 2017, in terms of revenue share
· Asia Pacific is likely to have an
impressive growth rate over the forecast periodon account of rapidly growing
number of working individuals
· Some of the key players in this market are
ComPsych Corporation; Virgin Pulse, Inc.; Provant Health Solutions LLC; EXOS,
Vitality Group, Inc.; Interactive Health, Inc.; Sodexo, FitLinxx, Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/healthcare
Grand View Research has
segmented the global corporate wellness market on the basis of service, end
use, category, and region:
Corporate Wellness Service Outlook (Revenue, USD Million,
2014 - 2025)
·
Health Risk Assessment
·
Fitness
·
Smoking Cessation
·
Health Screening
·
Nutrition & Weight Management
·
Stress Management
·
Others
Corporate Wellness End Use Outlook (Revenue, USD Million,
2014 - 2025)
·
Small-scale Organizations
·
Medium-scale Organizations
·
Large-scale Organizations
Corporate Wellness Category Outlook (Revenue, USD
Million, 2014 - 2025)
·
Fitness & Nutrition Consultants
·
Psychological Therapists
·
Organizations
Corporate Wellness Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Spain
·
Asia Pacific
o
Japan
o
China
o
India
o
Australia
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
South Africa
Access Press Release of
Corporate Wellness Market@: www.grandviewresearch.com/press-release/global-corporate-wellness-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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