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Corporate Wellness Market Size - By Service Type (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management), Category, Delivery Model (Onsite, Offsite), End-use & Forecast, 2024 – 2032


Published on: 2024-07-20 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Corporate Wellness Market Size - By Service Type (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management), Category, Delivery Model (Onsite, Offsite), End-use & Forecast, 2024 – 2032

Corporate Wellness Market Size

Corporate Wellness Market size was valued at USD 67.8 billion in 2023 and is expected to reach USD 113.3 billion by 2032. In recent years, several companies are making use of wellness programs to attract and retain talent by enhancing job satisfaction while demonstrating a commitment to employee well-being. These initiatives are improving the workplace environment, making employees feel more valued and supported.
 

Corporate Wellness Market

Moreover, the strong focus on holistic approaches to well-being, including mental health support and work-life balance is creating a more appealing and sustainable work culture. This ongoing commitment is assisting to maintain a loyal and motivated workforce. For instance, Gallup's research revealed that three times more employees quit their jobs in 2022 due to wellbeing, work-life balance, engagement, or culture issues than compensation.
 

A large number of companies are implementing corporate wellness initiatives to lower healthcare costs by improving employee health and reducing the incidence of chronic illness. These programs are focusing on preventative measures, such as promoting healthy lifestyles and regular health screenings. Subsequently, firms are continuing to enhance wellness strategies to further mitigate healthcare expenses. They are also integrating advanced health technologies and personalized wellness plans to sustain long-term health improvements among employees. For instance, Harvard researchers disclosed that every dollar invested in corporate wellness programs helps companies save $3.27 in healthcare costs.
 

However, limited engagement and privacy concerns are constraining the market growth to some extent. Companies are grappling with low participation rates and privacy worries among employees. Overcoming these restraints will be crucial for fostering a culture of well-being while respecting individual privacy rights.
 

Corporate Wellness Market Trends

The rise of remote work is increasing the demand for virtual wellness solutions to support employees working from home. Companies are adapting wellness programs to include online fitness classes, mental health resources, and digital health coaching. Moreover, there have been significant efforts to enhance these virtual offerings to better address the unique challenges of remote work, such as social isolation and work-life balance. This ongoing focus on remote wellness will maintain employee health and productivity for ensuring that remote workers feel supported and connected despite the physical distance.
 

For instance, Upwork's study predicted that by 2025, 22% of the American workforce will be working remotely. This shift is reflecting growing trends in flexible work arrangements and digital transformation in various industries.
 

Corporate Wellness Market Analysis

Corporate Wellness Market, by Service Type, 2021 – 2032 (USD Billion)

Based on service type, the health risk assessment segment is anticipated to reach USD 31.3 billion by 2032. This expansion is due to several companies utilizing health risk assessments to identify employee health risks and customize wellness programs accordingly. They are continuously refining assessment methods to gather comprehensive data and improve accuracy. Employers are also prioritizing proactive measures and leveraging real-time data to implement timely interventions and promote better health outcomes among their workforces.
 

In terms of category, the corporate wellness market from the organizations/employers segment is expected to record USD 62.3 billion by 2032, due to large integration by organizations to enhance employee health and productivity. They are focusing on initiatives, such as fitness challenges, mental health support, and nutrition counseling to create a healthier work environment. Employers are also continuing to expand these programs by incorporating more advanced technologies and personalized wellness plans. The strong focus on leveraging data analytics and feedback to continuously improve program effectiveness to foster a culture of well-being will add to the segment growth.
 

On the basis of delivery model, the corporate wellness market size from the onsite segment is projected to accrue USD 64.4 billion by 2032. Onsite programs are providing employees with convenient access to health services and resources. Employers are establishing onsite fitness centers for offering wellness workshops and providing healthy food options to promote employee well-being. These initiatives are actively encouraging healthier lifestyle choices and fostering a positive work environment. Moreover, companies will be further developing onsite wellness offerings for potentially expanding facilities and introducing additional services, such as meditation rooms or on-demand health screenings.

 

Corporate Wellness Market, By End-use (2023)

Based on end-use, the corporate wellness industry value from the large-scale organizations segment is predicted to record USD 55.5 billion by 2032. This expansion is due to the large-scale organizations implementing several programs to support the health and well-being of their workforce. They are working on offering comprehensive wellness initiatives including fitness classes, mental health support, and nutritional guidance to address diverse employee needs. These organizations will also continue to prioritize employee wellness by leveraging advanced technologies and data analytics to tailor programs to individual preferences and track progress effectively.
 

North America Corporate Wellness Market,  2020 – 2032 (USD Billion)

North America corporate wellness market is predicted to record USD 39.9 billion by 2032, on account of the increasing technological advancements. Leading employers in the region are integrating wearable devices, mobile apps, and virtual platforms to enhance employee engagement and track progress effectively. These innovations are facilitating real-time monitoring of health metrics and personalized wellness experiences. Additionally, stress management programs are increasingly being prioritized to address the rising workplace stressors. Rising focus on developing strategies, such as mindfulness training and resilience workshops to support employee well-being amidst evolving work demands will drive the regional industry growth.
 

Corporate Wellness Market Share

Leading players operating in the market are expanding their service offerings and engaging in partnerships to gain competitive perks. They are continuously innovating to meet the evolving employee needs by leveraging technology and data analytics to deliver more personalized and effective wellness solutions.
 

Corporate Wellness Market Companies

  • Aduro
  • Castlight Health
  • Central Corporate Wellness
  • Cigna Healthcare
  • ComPsych Corporation
  • Corehealth Technologies Inc.
  • Exos
  • Marino Wellness
  • Privia Health
  • SOL Integrative Wellness Centre
  • Truworth Wellness
  • Virgin Pulse
  • Wellsource Inc.
     

Corporate Wellness Industry News

  • In January 2024, Virgin Pulse, along with its subsidiary company HealthComp, unveiled a novel personalized health platform designed to tackle rising healthcare costs and complexity.
     
  • In August 2023, Cigna Healthcare and Virgin Pulse forged a partnership to introduce a personalized digital platform geared towards enhancing individual health and well-being.
     

The corporate wellness market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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Market, By Service Type

  • Health risk assessment
  • Fitness
  • Smoking cessation
  • Health screening
  • Nutrition & weight management
  • Alcohol/substance services
  • Stress management
  • Other services

Market, By Category  

  • Fitness & nutrition consultants
  • Psychological therapists
  • Organizations/Employers

Market, By Delivery Model

  • Onsite
  • Offsite

Market, By End-use

  • Large scale organizations
  • Medium scale organizations
  • Small scale organizations

The above information has been provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East and Africa

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )