Market Outline: Global Corporate Wellness Market
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.
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.
Global corporate wellness market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2023.
Global corporate wellness market is segmented based on delivery model, program type, and end user
Based on delivery model, market is segmented into the following:
Based on the program type, market is segmented into the following:
- Nutrition and Weight Management
- Stress Management
- Smoking Cessation
- Fitness Services
- Health Education Services
- Health Risk Assessment
- Health Screening
Based on the end users, the market is segmented into the following:
- Private Sector Businesses
- Public Sector Businesses
- Non-Profit Organizations
Geographically, global corporate wellness market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America corporate wellness market is poised to grow due to entry of market players to provide in-house services by offering memberships on discount, strict government regulations to provide the well programs for employee, and rise in organizational profits are fuel the market. Europe corporate wellness market is driving by increase in number of corporate companies in France, Germany, and UK, rise in prevalence of obesity and other non-communicable diseases among the employees, and rise in awareness about the health among the individuals are surge the market. However, Asia pacific corporate wellness market recording the fastest growth attributed to high adoption of wellness programs in India, china, Japan, and ASEAN countries, rise in prevalence of chronic diseases, and rapid economic growth are bolster the market.
- FITBIT, Inc. (U.S.)
- Beacon Health Options. (U.S.)
- Provant Health Solutions, LLC (U.S.)
- ComPsych Corporation. (U.S.)
- ADURO, Inc. (U.S.)
- Marino Wellness (U.S.)
- TotalWellness Health (U.S.)
- Wellness Corporate Solutions (U.S.)
- Kinema Fitness Inc (U.S.)
- EXOS (U.S.)
Notable Market Developments:
- In February 2018, Fitbit acquired healthcare startup Twine Health to enhance healthcare service offerings in the U.S