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Corporate Wellness Market Size Hit Around US$ 99.36 Bn by 2027

Precedence Research has published a new report titled, “Corporate Wellness Market (By Service: Fitness, Health Risk Assessment, Health Screening, Smoking Cessation, Stress Management, Nutrition & Weight Management, and Others; By Category: Psychological Therapists, Fitness & Nutrition Consultants, and Organizations/Employers; By Delivery Model: Offsite and Onsite; By End-use: Large Scale Organizations, Medium Scale Organizations, and Small Scale Organizations) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027”. According to the study, the global Corporate Wellness market size has the potential to grow by US$ 99.36 billion by 2027 and is expected to grow at a CAGR of 7.1% during the forecast period 2020 to 2027.

Corporate Wellness plays an important role in boosting the employee’s health as most out of them are suffering from various diseases such as depression, hypertension and so on. Out-standing wellness benefit programs for employees can improve the mental, financial, and physical health of employees as well as this mitigates the cost associated with turnover and healthcare. An employee with good health cost less for an organization towards their healthcare expenses and makes few absentees per year that improves the productivity output of the company. Rapid industrialization in emerging economies reduces the incidences of hypertension and other diseases such as diabetes with diabetes management.

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Growth Factors

Significant rise in the prevalence of chronic diseases across the world along with the adoption of sedentary lifestyle are some of the prime factors that drives the market growth. Furthermore, economic benefits offered by these wellness programs as well as rising awareness for mental and physical health expected to trigger the market growth over the forecast period. However, huge cost associated to outsource such programs or services predicted to hamper the growth of the market. Nonetheless, high rate of return on investment from wellness programs projected to drive the market significantly in the coming years.

Regional Snapshots

In 2019, North America led the global corporate wellness market with significant revenue share and expected to flourish prominently during the analysis period. The significant growth of the region is mainly attributed to the increasing corporate businesses in the region along with rising awareness among the corporate owners towards their employee’s health benefit. Increasing pollution and busy lifestyle impact adversely on the employee’s health that finally impact the organization’s work culture. In addition, Harvard Business School has stated in its report that American companies have reduced their medical expenses by US$ 3.27 for each dollar spent on the wellness programs. This encourages other employers too to implement corporate wellness programs in their organizational culture to get maximum benefits in term of return on investment.

On the other hand, the Asia Pacific encounter positive growth outlook during the forecast period. This is primarily due to increasing urbanization coupled with the rising health awareness among the public. For the same, employees in the region also prefer those organizations that offer health benefits to the employees as well as incentive-based wellness programs inside the organization.

Report Highlights

North America dominated the global corporate wellness market with maximum revenue share in the year 2019. Significant dominance of the office culture in the North America influence corporate owners in the region to implement such services or programs to benefit their employees with good health. The aforementioned factor drives the market significantly.
The Asia Pacific encountered flourishing growth over the forecast period owing to significant increase in the working population along with rising awareness for health management of employees.
In 2019, large scale organizations led the global corporate wellness market in terms of revenue share. As per RAND Corporation, around 70% of the large-scale organizations had invested in the health screening services or programs in the year 2013. Further, high return on investment through these programs influence large number of organizations to implement corporate wellness programs.
Onsite delivery model emerged as the most dominating segment in terms of revenue share in the global corporate wellness market and anticipated to witness the fastest growth over the forecast period. This type of program provides personal touch and guidance for exercises to the employees.

Key Players & Strategies

The global corporate wellness market offers prominent growth opportunity to the market players owing to rising trend for in-house training programs in the corporate sector. As per a report sponsored by the Department of Health and Human Services and Department Labor, 80% of the companies that are located in the U.S. and have more than 50 employees offer some sort of corporate wellness benefits to their employees. Further, in the UK, the percent of companies offering corporate wellness benefits are around 45%, however the percent of program offerings in the region is likely to increase as the companies are suffering from heavy losses due to irregular working days of the employees along with rising number of leaves per employees per year. The market players thus offer diverse offering and service to their client to capture the maximum benefit out of that.

Some of the key players operating in the market are Wellness Corporate Solutions, ComPsych, Provant Health Solutions, Beacon Health Options, Virgin Pulse, Marino Wellness, EXOS, Vitality Group, Privia Health, Central Corporate Wellness, Wellsource, Inc., SOL Wellness, Truworth Wellness, ADURO, INC., Well Nation, and Fitbit, Inc. among others.

Market Segmentation

By Service

Fitness
Health Risk Assessment
Health Screening
Smoking Cessation
Stress Management
Nutrition & Weight Management
Others

By Category

Psychological Therapists
Fitness & Nutrition Consultants
Organizations/Employers

By Delivery Model

Offsite
Onsite

By End-use

Large Scale Organizations
Medium Scale Organizations
Small Scale Organizations

By Regional Outlook

North America
Europe
Asia Pacific
Rest of the World

Key questions answered: The Study Explore COVID 19 Outbreak Impact Analysis

Market size and growth rate during the forecast period.
Detailed SWOT analysis.
Key vendors of this market.
Strategic initiatives focusing on the leading vendors.
Challenges to market growth.
Key factors driving the market.
Opportunities and threats faced by the existing vendors in the global market.
Trending factors influencing the market in the geographical regions.
PEST analysis of the market in the five major regions.
Key market trends cracking up the growth of the market.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Corporate Wellness Market, By Service

7.1. Corporate Wellness Market, by Service Type, 2020-2027
7.1.1. Fitness
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Health Risk Assessment
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Health Screening
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Smoking Cessation
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Stress Management
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Nutrition & Weight Management
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Others
7.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Corporate Wellness Market, By Category

8.1. Corporate Wellness Market, by Category, 2020-2027
8.1.1. Psychological Therapists
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Psychological Therapists
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Organizations/Employers
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Corporate Wellness Market, By Delivery Model

9.1. Corporate Wellness Market, by Delivery Model, 2020-2027
9.1.1. Offsite
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Onsite
9.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Corporate Wellness Market, By End-User

10.1. Corporate Wellness Market, by End-User, 2020-2027
10.1.1. Large Scale Organizations
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Medium Scale Organizations
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Small Scale Organizations
10.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Corporate Wellness Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue and Forecast, by Service (2016-2027)
11.1.2. Market Revenue and Forecast, by Category (2016-2027)
11.1.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.1.4. Market Revenue and Forecast, by End-User (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.1.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Service (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Category (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.1.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Service (2016-2027)
11.2.2. Market Revenue and Forecast, by Category (2016-2027)
11.2.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.2.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.2.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Service (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Category (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.2.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Service (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Category (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.2.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Service (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Category (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.2.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Service (2016-2027)
11.3.2. Market Revenue and Forecast, by Category (2016-2027)
11.3.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.3.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.3.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Service (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Category (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.3.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Service (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Category (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.3.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Service (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Category (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.3.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Service (2016-2027)
11.4.2. Market Revenue and Forecast, by Category (2016-2027)
11.4.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.4.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.4.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Service (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Category (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.4.6.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Service (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Category (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.4.7.4. Market Revenue and Forecast, by End-User (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Service (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Category (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.4.8.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Service (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Category (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.5.5.4. Market Revenue and Forecast, by End-User (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Service (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Category (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Delivery Model (2016-2027)
11.5.6.4. Market Revenue and Forecast, by End-User (2016-2027)

Chapter 12. Company Profiles

12.1. Wellness Corporate Solutions
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. ComPsych
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Provant Health Solutions
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Beacon Health Options
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Virgin Pulse
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Marino Wellness
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. EXOS
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Vitality Group
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Privia Health
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Central Corporate Wellness
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Wellsource, Inc.
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. SOL Wellness
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
12.13. Truworth Wellness
12.13.1. Company Overview
12.13.2. Product Offerings
12.13.3. Financial Performance
12.13.4. Recent Initiatives
12.14. ADURO, INC.
12.14.1. Company Overview
12.14.2. Product Offerings
12.14.3. Financial Performance
12.14.4. Recent Initiatives
12.15. Well Nation
12.15.1. Company Overview
12.15.2. Product Offerings
12.15.3. Financial Performance
12.15.4. Recent Initiatives
12.16. Fitbit, Inc.
12.16.1. Company Overview
12.16.2. Product Offerings
12.16.3. Financial Performance
12.16.4. Recent Initiatives