Corporate Wellness Solutions Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Posted by Sushmitha on May 16th, 2024
Overview and Scope
Corporate wellness solutions refer to programs, services, and initiatives implemented by organizations to promote the health and well-being of their employees. These solutions are designed to improve employees' physical, mental, and emotional health, leading to higher productivity, lower healthcare costs, and improved employee morale.
Sizing and Forecast
The corporate wellness solutions market size has grown strongly in recent years. It will grow from .14 billion in 2023 to .76 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to rising adoption of corporate wellness programs, rising adoptions of corporate wellness programs to promote wellbeing of employees, longer working hours and a longer life expectancy, rising adoption of corporate wellness programs by employers, and rising healthcare costs.
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Segmentation & Regional Insights
The corporate wellness solutions market covered in this report is segmented –
1) By Service: Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition And Weight Management, Stress Management, Other Services
2) By Product: Cloud-Based, On-Premises
3) By Delivery Model: Onsite, Offsite
4) By End-User: Large Organization, Medium-sized Organization, Small Organizations
North America was the largest region in the corporate wellness solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corporate wellness solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A rising focus on stress management is expected to propel the growth of the corporate wellness solutions market going forward. Stress management refers to the process of acquiring and practicing a variety of cognitive and behavioral techniques to manage and cope with stress. Corporate wellness solutions improve productivity, job satisfaction, and overall well-being by creating a workplace environment that supports employees' mental health and helps them effectively manage stress. For instance, according to the 2022 Mind the Workplace report published by Mental Health America, a US-based non-profit organization, in 2021, an analysis of survey responses from over 11,300 U.S. employees across 17 industries revealed that 71% of the respondents found it challenging to concentrate at work, compared to 65% in 2020. Therefore, the rising focus on stress management is driving the growth of the corporate wellness solutions market.
Key Industry Players
Major companies operating in the corporate wellness solutions market are UnitedHealth Group, CVS Health Corporation, Elevance Health, Inc, Centene Corporation, Well Nation, Telus Corporation, Cleveland Clinic, Cerner Corporation, Provant Health Solutions Inc., Privia Health Gr, Fitbit, Inc., Beacon Health Options, Wellness Corporate Solutions, LLC, ComPsych Corporation, Virgin Pulse, Vitality Group, EXOS, Medcan Clinic, Aduro Biotech Inc., Wellsource, Inc., Truworth Wellness, Central Corporate Wellness, Marino Wellness, SOL Wellness
The corporate wellness solutions market report table of contents includes:
1. Executive Summary
2. Corporate Wellness Solutions Market Characteristics
3. Corporate Wellness Solutions Market Trends And Strategies
4. Corporate Wellness Solutions Market - Macro Economic Scenario
5. Global Corporate Wellness Solutions Market Size and Growth
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32. Global Corporate Wellness Solutions Market Competitive Benchmarking
33. Global Corporate Wellness Solutions Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Corporate Wellness Solutions Market
35. Corporate Wellness Solutions Market Future Outlook and Potential Analysis
36. Appendix
