The latest report by IMARC Group, titled “Corporate Wellness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global corporate wellness market size reached US$ 61.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.
Corporate wellness encompasses a range of policies, programs, and initiatives designed to promote the health and well-being of employees in the workplace. This includes activities such as health screenings, offering healthy food choices, encouraging physical activity, conducting wellness assessments, and providing resources for mental health support. These efforts aim to increase employee engagement, reduce absenteeism, boost confidence and morale, and decrease healthcare costs. In addition, corporate wellness initiatives contribute to improved recruitment and employee retention, foster better relationships among workers, reduce stress levels, and enhance overall employee behavior. As a result, corporate wellness is widely implemented in organizations of all sizes across the globe.
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Corporate Wellness Market Trends and Drivers:
The market is currently experiencing growth due to the increasing awareness surrounding employee health and well-being. Additionally, there is a significant investment being made in mental health and stress management programs, which is further fueling market growth. Moreover, the rising prevalence of chronic diseases, including diabetes, heart attacks, arthritis, and respiratory disorders worldwide, presents lucrative opportunities for industry players. Technological advancements, such as artificial intelligence (AI) and machine learning (ML), are also contributing to market growth. Furthermore, the growing demand for corporate wellness programs in organizations to reduce costs and improve employee efficiency is driving market expansion.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Service:
- Health Risk Assessment
- Fitness
- Smoking Cessation
- Health Screening
- Nutrition and Weight Management
- Stress Management
- Others
Breakup by Category:
- Fitness and Nutrition Consultants
- Psychological Therapists
- Organizations/Employers
Breakup by Delivery:
- Onsite
- Offsite
Breakup by Organization Size:
- Small Scale Organizations
- Medium Scale Organizations
- Large Scale Organizations
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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
- Wellsource Inc.
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