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The global corporate wellness market size was valued at USD 53.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2027. Corporate wellness programs are designed to encourage and support the wellness in employees by creating organizational culture of health. Corporate wellness programs consist of various activities such as health education, weight management programs, medical screenings, and on-site fitness programs. Corporate wellness programs found in corporate offices, small and large corporations, and factories among others. Many firms and enterprises across a variety of industry verticals have begun to develop health-related programmes for their employees, boosting market demand. Workplace wellness programmes assist businesses in increasing productivity while lowering overall operating costs. The market for corporate wellness is predicted to grow as people become more aware of their own health and well-being. Corporate wellness programmes are a collection of policies, programmes, and perks that target a variety of risk factors and conditions while influencing both employees and the firm as a whole. Furthermore, the pandemic wreaked havoc on the economy, resulting in a financial crisis for many people, which had a negative impact on their mental health. Wellness service providers are using virtual ways to give services such as sessions with psychologists and health coaches to combat the problem.
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Increase in prevalence of non-communicable diseases such as diabetes, cardiac disorders, and cancers among the employee drives the global corporate wellness market. Moreover, reduce in the cost of insurance and healthcare services due to huge competition between the market players, rapid industrialization in developed and developing countries, government initiations to mandate the wellness programs in the corporate sector, and expansion of wellness services by the providers are fuel the global corporate wellness market over the forecast years. However, increase in the cost of wellness programs due to inefficient execution plan, chances for the misuse of data, and low participation of employees in wellness programs are hinder the growth of global corporate wellness market.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
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