Corporate Wellness Market Size Worth USD 104 Billion | 8.37% CAGR by 2027, Says Market Research Future (MRFR)

Corporate Wellness Market
Corporate wellness Market Analysis by Service (Health Risk Assessment, Fitness, Smoking Cessation, Biometric Screening, Nutrition & Weight Management, Stress Management, Alcohol & Drug Abuse Services, and Others), by Category (Fitness & Nutrition Consultants, Psychological Therapists, and Organizations), by End User (Small-Scale Organizations, Medium-Scale Organizations, and Large-Scale Organizations), and Region till 2027

Corporate Wellness Market Outlook

The global corporate wellness market is likely to acquire a size of over USD 104.19 Billion by 2027, says Market Research Future (MRFR). The report further suggests that the corporate wellness market is projected to register a healthy growth rate of over 8.37% CAGR during the review timeframe.

The corporate wellness program is designed to play a crucial part in supporting the employees and realizing their health-related risks. Corporate wellness programs help to reduce the healthcare unit’s spending. The corporate wellness market has experienced massive growth in recent years owing to the factors of growing smoking and drinking among employees, rise in obesity of the people, the prevalence of lifestyle diseases, growth in the labor force, and growth of the private sector CAPEX. However, the increase in the employees’ health risk and rise in costs of the companies to maintain welfare in the private sector are likely to restrict the growth of the corporate wellness market over the assessment timeframe.

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Corporate Wellness Market Segment Analysis

The global market for corporate wellness has been fragmented into end user, category, service, and region.

Based on service, the global market for corporate wellness is split into alcohol & drug abuse services, nutrition & weight management, smoking cessation, health risk assessment, stress management, biometric screening, fitness, and others.

The corporate wellness market is divided into organizations, psychological therapists, and fitness & nutrition consultants based on category.

The corporate wellness market is fragmented into large-scale, medium-scale, and small-scale organizations by end-user.

Corporate Wellness Market Regional Insights

The corporate wellness market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

The MRFR reports suggest that, in 2017, the corporate wellness market was led by the North American region. The wide number of corporate providers is the primary growth propelling aspect for the regional market. The growing adoption of a stylish lifestyle is another crucial aspect that catalyzes the regional market’s growth.

The European regional corporate wellness market will secure the second position over the forecasted era. The employees’ growth in investments in the components of the corporate wellness market is the primary growth aspect for the regional market. The awareness programs being conducted regarding corporate wellness are likely to fuel the regional market’s performance.

The Asia-Pacific regional corporate wellness market will likely grow rapidly over the assessment timeframe. The factors such as promotion of the corporate workplace, the rise in productivity and business results, and the rapidly growing population in countries like India and China are projected to boost the regional market’s growth.

The corporate wellness market for the Middle East & African region is likely to record steady growth over the review timeframe. Due to increased healthcare sectors, the regional market has been investing in some governmental, corporate wellness programs.

Corporate Wellness Market Competitive Analysis

The global corporate wellness market is known for the presence of a wide number of players spread worldwide. The global market has prominent players such as Vitality Group International, Inc. (US), Central Corporate Wellness (Singapore), Quest Diagnostics (US), Privia Health (US), Wellness Corporate Solutions (US), Sodexo (France), EXOS (US), UnitedHealth Group (US), Virgin Pulse (US), and ComPsych Corporation (US), among others.

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Recent Developments

September 2021- The Peloton at-home fitness has announced that it is collaborating with leading law firm O’Melveny & Myers. All U.S. O’Melveny employees, starting from October 6th, will have free access to Peloton’s digital platform for workouts and will get discounts on the company’s stationary bikes and all-access membership. Peloton Interactive Inc stated that O’Melveny is the first law firm to sign up for its Corporate Wellness Program.
March 2022- The life benefits platform, Twic, has disclosed a new brand name, Forma, and a USD40 million fundraising round.

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