The latest report by IMARC Group, titled “Corporate Wellness Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global corporate wellness market size reached US$
61.8 Billion in 2022. Corporate wellness, also known as workplace wellness, refers to various programs conducted by organizations to promote the health and well-being of their employees. It includes health promotion strategies such as weight management, fitness services, nutrition, dietary facilities, stress management activities, health screening and smoking cessation sessions, and other benefits to improve health and maximize productivity. As corporate wellness programs aid in improving employee retention, acquisition, organizational culture, and worksite environment, they are gaining traction across the globe.
Global Corporate Wellness Market Trends:
The market is primarily driven by the rising prevalence of chronic lifestyle diseases caused by unhealthy dietary patterns, sedentary lifestyles, high-stress levels, and overexposure to digital screens. In addition, the implementation of favorable government policies and the launch of comprehensive insurance plans to promote the adoption of telemedicine represents another major growth-inducing factor. Besides this, with the rising awareness regarding employee health and well-being, various organizations are adopting virtual methods to connect employees with psychologists and health coaches to treat mental and stress-related problems. This, coupled with the increasing health consciousness among individuals and significant improvements in the healthcare infrastructure, is creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 94.8 Billion by 2028, exhibiting a CAGR of 7.6% during the forecast (2023-2028).
- Based on the service, the market has been classified into health risk assessment, fitness, smoking cessation, health screening, nutrition and weight management, stress management, and others.
- On the basis of the category, the market has been segmented into fitness and nutrition consultants, psychological therapists, and organizations/employers.
- Based on the delivery, the market has been bifurcated into onsite and offsite.
- On the basis of the organization size, the market has been categorized into small, medium, and large scale organizations.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some 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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