Increasing chronic diseases among corporate employees are expected to boost the growth of the global corporate wellness market at CAGR of 8.37% till 2030

August 2021, Market Research Future has published a Report on the “Global Corporate wellness Market” that contains the information from 2022-2030.

Corporate Wellness Market Highlights

By 2030, the corporate wellness industry is anticipated to grow at an 8.5% CAGR and exceed USD 111.4 billion. The market is expanding due to factors such as increasing incidence of the early development of chronic diseases and the decline in team member healthcare costs. The primary driver of market expansion is the increased prevalence of ongoing illnesses, including cancer, diabetes, and others. 

In today's work culture, most individuals do not have sufficient time to engage in physical and mental activities following work or leisure time, causing health problems. Due to the increasing prevalence of chronic diseases worldwide, the corporate wellness industry is anticipated to have phenomenal development potential. The rising number of health complications in employees demands health assessment programs at their workplaces. The main causes of death globally include diabetes, cancer, hypertension, and respiratory illnesses.

Governments are also spending money to promote corporate wellness initiatives to enhance the productivity and health of workers in various firms. As these initiatives are quite helpful in raising team member productivity at work, market contributors are utilizing the prospects to boost income and presence worldwide. The global market is also being driven by the increased use of these systems to monitor team member health issues. Even though many illnesses can be prevented, it is vital to apply an integrated strategy to corporate wellness initiatives to inform employees about the benefits of forming healthy habits and sticking to wellness goals. However, several issues will impede market expansion over the forecast period, including slow acceptance and poor public awareness. Due to the rapid rise in heart-related illnesses among business workers, there is a willingness to invest in such programs at workplaces.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Corporate Wellness Market Research Report

Segmental Analysis

The market includes businesses, organizations, and consultants in fitness and nutrition. The market covers small-scale, medium-scale, and large-scale businesses in terms of end users. The market is segmented by service and offers services for alcohol and drug addiction, biometric screening, nutrition, weight management, fitness, and smoking cessation.

Regional Analysis

On a global scale, the corporate wellness industry is anticipated to be dominated by North America. Some factors influencing the market expansion in North America are the development of healthcare technology, the rise in chronic disease prevalence, and the rising geriatric population. The United States held the biggest market share in the North American area since stress is a major public health issue. Additionally, several industry participants are implementing strategic plans, helping the market expand. The corporate wellness industry is growing faster in North America thanks to rising healthcare spending and expanding public awareness of these services. The market is also being driven by improvements in medical care in corporate settings.

Asia-Pacific is anticipated to grow significantly during the forecasted timeframe. A burgeoning working population and more recognition of the health of staff management throughout the Asia-Pacific region necessitate corporate team member health efforts. Additionally, the market will profit from the aging working-class population as corporations spend extensively on healthcare infrastructure, creating a significant opportunity to meet unmet needs in the area.

Competitive Analysis

When more sophisticated functioning and transportation systems are used, operating operations should differ around the globe. Despite the continuous instability in that region and the attendant energy and living conditions challenges, Europe needs to improve its lagging financial and technological status. Conflicting regulations across numerous regions could restrict the market's potential for growth, given how severely limited work and distribution networks have become. Among them are Privia Health (US), UnitedHealth Group (US), Quest Diagnostics (US), Vitality Group International, Inc. (US), Virgin Pulse (US), EXOS (US), Central Corporate Wellness (Singapore), and Wellness Corporate Solutions (US).