The global corporate wellness market size is projected to reach USD 90.7 billion by 2026 expanding at a CAGR of 6.8%. The corporate wellness market, which comprises the health risk assessment, stress management, fitness and weight management segments, is expected to witness steady growth due to increasing cognizance of workforce wellness. An increase in the prevalence of lifestyle related diseases among employees, owing to hectic work, long hours, and unhealthy eating habits, creates a huge demand for corporate wellness programs across the world.
Top Key players cited in the report: EXOS, ProvantHealth, Wellness Corporate Solutions, ComPsych Corporation, Optum, Central Corporate Wellness, TruworthWellness, CXA Group, SOL Wellness.
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Global Corporate Wellness Market Type Segments:
Health Risk Assessment
Nutrition & Weight Management
Global Corporate Wellness Market Application Segments:
Small and Medium Enterprise
Geographically, the report takes stock of the potential of Corporate Wellness market in the regions of North America including the U.S. and Canada, Latin America (Mexico, Brazil, and Argentina), Europe (U.K., Germany, France, Italy, Spain, and Nordic), Asia Pacific (India, China, Thailand, Malaysia, Singapore, and Australia, and the Middle East and Africa including Gulf Cooperation Council (GCC), South Africa, Israel, and Nigeria.
The U.S. dominated the corporate wellness market in North America due to rise in investment and adoption of corporate wellness service
The corporate wellness market in North America accounted for the highest market share 37.42% in 2018, and will expand at a CAGR of 4.98% during the 2019-2024 period, owing to factors like high occurrence of lifestyle associated diseases, adoption of premium wellness services and programs, and favorable government policies.
Corporate Wellness Market Dynamics
In 2018, the health risk assessment segment contributed the highest revenue USD 8.74 Bn in the North America region, owing to increasing obesity, consumption of unhealthy food, and lack of physical activity among employees. This segment is projected to expand at a CAGR of 4.91% during the 2019-2024 period. The stress management segment is expected to hold a market share 26.9% by 2023, expanding at a CAGR of 3.35% during the 2019-2024 period. In the U.S., employers lose approximately 225 Mn working days annually due to stress, resulting in reduced productivity. This is likely to aid the growth of the stress management market in the region. The fitness and weight management segment is anticipated to witness the highest growth rate 7.05% during the forecast period, owing to increasing awareness about nutrition and healthy lifestyles, and an expanding number of fitness centers in this region.
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The report also helps in understanding Global Corporate Wellness Market dynamics, structure by identifying and analyzing the market segments and projects the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Corporate Wellness Market.
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