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The global corporate wellness market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different industries. These insights are included in the report as a major market contributor.
Corporate wellness refers to the implementation of various program by organizations to promote the health and wellbeing of their employees. It involves health promotion strategies, policies and other benefits to improve health and maximize productive output. They are offered with weight management, fitness services, nutrition and dietary facilities, stress management activities, health screening and smoking cessation sessions. Large and medium-scale organizations are also allocating nap rooms, offering wearable health trackers, gym services yoga sessions and mindfulness workshops. These programs aid in improving employee retention, acquisition, organizational culture and worksite environment.
The global corporate wellness market is primarily being driven by the increasing prevalence of chronic lifestyle diseases caused by sedentary lifestyles, unhealthy dietary patterns, high stress levels and overexposure to digital screens. Moreover, rising organizational awareness regarding employee health and wellbeing across the globe is providing a thrust to the market growth. The sudden outbreak of the coronavirus disease (COVID-19) is further providing growth opportunities to wellness service providers. They are adopting virtual methods to connect employees with psychologists and health coaches for the treatment of mental and stress-related problems triggered in professionals by isolation. Additionally, the implementation of favorable government policies and the launch of comprehensive insurance plans promoting the adoption of telemedicine to promote public health are contributing to the market growth. Other factors, including increasing health consciousness among the masses, along with significant improvements in the healthcare infrastructure, especially in the developing economies, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global corporate wellness market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, service, category, delivery and organization size.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Central Corporate Wellness, ComPsych, EXOS, Marino Wellness, Privia Health, Provant Health Solutions, SOL Wellness, Truworth Health Technologies Pvt. Ltd., Virgin Pulse, Vitality, Wellness Corporate Solutions LLC and Wellsource Inc.
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