The global corporatewellness market size is expected
to reach USD 84.9 billion by 2025, according to a new report by Grand View
Research, Inc. The market is estimated to expand at a CAGR of 6.8% during the
forecast period. Rising demand for corporate wellness activities due to
increased insurance costs that result in financial burden on employers is
driving the market. The corporate wellness initiatives target particular health
risk factors such as stress, obesity, smoking, diet, lack of exercise, etc.
Various companies across the globe have
started initiating wellness programs for disease prevention and productivity
improvement. According to a study conducted by Harvard economists, absenteeism
costs fall by USD 2.73 for every dollar spent on wellness programs. Therefore,
the employees need to be encouraged to adopt a healthier lifestyle to improve
their productivity.
Browse
Research Report on Corporate Wellness Market:
Further key findings from the study suggest:
·
Corporate wellness programs are aiming at
the improvement of employee well-being, to reduce absenteeism costs, which
account for a huge productivity and monetary loss
·
In addition, employers have to pay the
mandated health insurance costs, which increases their economic burden
·
Health risk assessment segment led the
overall market, in terms of revenue share, in 2017. The health screening
activities enable the employers to implement strategic initiatives to deal with
the identified health risks
·
Stress management segment is likely to
witness the fastest growth rate over the forecast period (from 2018 to 2025),
owing to rising preference for on-site yoga and meditation services
·
Large-scale organizations dominated the
end-use segment in 2017. Implementation of wellness services is easier and
convenient in the large-scale companies due to their advanced infrastructure
·
Medium-scale organizations are likely to
experience the fastest growth over the forecast period, due to increasing
adoption of health screening services
·
Wellness service providers dominated the
market in 2017. The fitness & nutrition consultants segment is anticipated
to witness the fastest growth from 2018 to 2025
·
North America was the dominant regional
market in 2017, in terms of revenue share
·
Asia Pacific is likely to have an
impressive growth rate over the forecast periodon account of rapidly growing
number of working individuals
·
Some of the key players in this market are
ComPsych Corporation; Virgin Pulse, Inc.; Provant Health Solutions LLC; EXOS,
Vitality Group, Inc.; Interactive Health, Inc.; Sodexo, FitLinxx, Inc.
View more reports of this
category by Grand View Research at
Grand View Research has segmented the global corporate wellness market
on the basis of service, end use, category, and region:
Corporate Wellness Service Outlook (Revenue, USD Million, 2014 - 2025)
·
Health Risk Assessment
·
Fitness
·
Smoking Cessation
·
Health Screening
·
Nutrition & Weight Management
·
Stress Management
·
Others
Corporate Wellness End Use Outlook (Revenue, USD Million, 2014 - 2025)
·
Small-scale Organizations
·
Medium-scale Organizations
·
Large-scale Organizations
View press release of this
research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials, and healthcare.
