Global Corporate Wellness Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031
Report ID: MS-1906 | Service Industry | Last updated: Oct, 2024 | Formats*:
The phrase ‘corporate wellness’ refers to the solutions that pertain to the conception, planning, organisation, and evaluation of activities, policies, or programs that encourage healthy behaviours of employees. Corporate wellness programs emphasise various activities, including health screenings, exercise programs, dietary programs, stress relief programs, and counselling. The objective of these programs is to enhance the health and wellbeing of employees, decrease absences, increase output of work, and promote a favourable organisational culture. In addition, since businesses have come to appreciate concerns regarding the health of employees and the advantages turnover provides, this also enhances the demand for corporate wellness services on the market within a given time period, thanks to increasing medical costs, demographics, and focus on employees and their retention.
Corporate Wellness Report Highlights
Report Metrics | Details |
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Forecast period | 2019-2031 |
Base Year Of Estimation | 2023 |
Growth Rate | CAGR of 8.5% |
Key Market Players |
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By Region |
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Corporate Wellness Market Trends
The global corporate wellness market is observing a distinct shift in focus towards holistic well-being programs that encompass not only physical health but also mental and emotional aspects. Businesses are starting to understand the benefits of full-fledged wellness packages that encompass mental health provisions, stress relief activities, and balancing work with personal life. This is because of the growing understanding of mental health by employees and the obligation of such employees to work in environments that are conducive to them. Therefore, the employees are facilitating the use of wellness platforms, which provide, among other things, counselling, mindfulness, and fitness challenges and benefit the workers as well as the organization. The other interesting factor is that there has been a rise in the use of technology in corporate wellness programs. Many organisations have come up with wearables, mobile apps, and web-based systems to assess health metrics and promote health behaviours among employees. With these innovations, employers can monitor compliance of the employees with wellness programs, health patterns of the employees, and wellness services tailored to the employee.Corporate Wellness Market Leading Players
The key players profiled in the report are Compsych (United States), Wellness Corporate Solutions (United States), Optum, Inc. (United States), Virgin Pulse (United States), Quest Diagnostics (United States), EXOS (United States), Privia Health (United States), Central Corporate Wellness (Singapore), Sodexo (France), Vitality Group (Spain), Truworth Wellness (India), Fitlinxx (United States)Growth Accelerators
The corporate wellness market across the globe has been witnessing growth owing to the growing concern of every organisation regarding the health and wellbeing of its employees. Health benefits are being realised as productivity levels go a notch higher, absenteeism cases are on the decrease, and so are healthcare bills for the companies. This trend is further enhanced by the increase in lifestyle-related illnesses, which drives companies to embrace wellness strategies that include physical fitness programs, mental wellness, and general wellbeing of the employees. Together with the enhancement of healthier habits amongst the workers, employers are actively seeking integrated wellness solutions such as physical fitness programs and stress and mental management programs. In addition, organisations have implemented corporate wellness programs as a strategy not only to encourage the health of their employees but also to help in assisting the organisation to recruit and retain employees in a competitive environment. In this way, the presence of wellness programs allows a company to not only uplift the quality of life of its employees but also improve its organisational image towards prospective employees.Corporate Wellness Market Segmentation analysis
The Global Corporate Wellness is segmented by Application, and Region.. The Application segment categorizes the market based on its usage such as Small-scale Organizations, Medium-scale Organizations, Large-scale Organizations. Geographically, the market is assessed across key Regions like North America(United States.Canada.Mexico), South America(Brazil.Argentina.Chile.Rest of South America), Europe(Germany.France.Italy.United Kingdom.Benelux.Nordics.Rest of Europe), Asia Pacific(China.Japan.India.South Korea.Australia.Southeast Asia.Rest of Asia-Pacific), MEA(Middle East.Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.
Competitive Landscape
The customisable corporate wellness market space is poised for a tug of war among several types of constituents, including wellness niche players, tech providers, as well as conventional health underwriting organizations. This is because most of the primary actors in the concern’s industry structure provide aged care products and programs that integrate not only the physical aspect of the elderly patients but also mental health, spirituality, and fitness programs as per the needs of the organizations. Players like Virgin Pulse, WellSteps, and Cerner, among others, have risen through the ranks and established themselves as solutions providers through data-driven engagement and health outcome measurement platforms. The role of these providers is to partner with employers and provide aligned nursing solutions that match the employers’ wellness objectives and their day usage culture. Most noticeably, changes in consumer behaviour and corporate wellness market dynamics have heightened competition between technology-based start-ups and wellness-orientated companies as more of them are developing offerings such as fitness tracking apps, telehealth, and mental health services. This has resulted in an increase in competition as the new players have offered stiff competition, making the existing players improve on the services offered, which include incorporating new technologies. With a growing emphasis on fostering the health of workers, it is anticipated that the focus on the competitive environment will change and corporate wellness programs will continue enhancing customer centricity, ease of access, and result provability.Challenges In Corporate Wellness Market
The global corporate wellness market is faced with multifaceted issues, one of the major ones being the inability to show the tangible benefits associated with the investment in wellness programs. Quite a number of organisations find it difficult to place a financial value on employee wellness programs in terms of productivity, the costs of healthcare, or even the general mood in the workplace. This vacuum in quantifiable outcomes can easily create doubts amongst the stakeholders and the decision-makers; hence, it becomes hard to obtain financial resources and sustain the commitment of wellness programs for an extended period. Another challenge is related to embedding wellness programs within the pre-existing corporate culture. Many organisations may find it too challenging to motivate employees towards participation due to the depressive factors of workplace stress and time limitations made worse by non-work-related wellness programs. Interventions may also be met with some resistance from the employees, who may not see the value of these programs and consider them impositions.Risks & Prospects in Corporate Wellness Market
The worldwide corporate wellness market is evolving and poses great chances as more focus is placed on the health and wellness of employees at the workplace. Organisations are making investments in wellness programs as they are beginning to appreciate the correlation that exists between a healthy workforce and increased output, hence the impetus in spending on such programs. There are also markets for providers of complete wellness solutions that encompass mental health, fitness, nutrition, stress management, and many others. With the increase in remote work, there is also a rise in the need for wellness platforms that are digital so that the employees can have the resources and means to interact with the program no matter where the organisation is promoting health. Moreover, due to policy shifts and the ever-increasing amounts of health care, many organisations are embracing corporate wellness programs as a quick and effective means of controlling health-related costs of their workers. This trend also allows room for those focussing on data analytics and health assessments to come in handy for wellness offerings focused on people within organisations.Key Target Audience
The main audience for the global corporate wellness market is composed of employers and human resource managers who understand the significance of improving employee wellbeing to enhance productivity and/or minimise the cost of healthcare. This target audience contains companies in different industries that wish to implement wellness programs, health checks, exercises, and mental health services for the employees. It’s apparent for most employers that the investment in corporate wellness can not only improve employee satisfaction and combat absenteeism but also increase the retention rate, which makes it their business strategy priority.,, The audience consists of another large segment of wellness program providers and consultants who develop and present solutions for the organisations wanting to boost their corporate wellness programs. These stakeholders encompass health and wellness coaches, fitness centres, nutritionists, and even mental health specialists who create and execute plans for the workforce.Merger and acquisition
The global corporate wellness market has also had numerous mergers and acquisitions, which point to the recognition of the focus on health and wellbeing of employees with the productivity and engagement of the employees within the organization. For example, in 2023, wellness provider WellSteps acquired Karma, a mental health and wellness-focused platform, which enabled the company to expand its offerings to include mental well-being services alongside physical wellness programs. This helps WellSteps to go beyond corporate wellness programs aimed at employees within the organisations to cater for the total needs of employees. Furthermore, LifeDojo, the leader in digital wellness solutions, recently announced that it has acquired Healthify, a company that provides health navigation and lifestyle change management solutions. The purpose of the acquisition is to build a more comprehensive wellness ecosystem for employees to enable them to make better health choices. Therefore, these companies are planning on reducing employers’ health care expenditure by enhancing employees’ health through the use of personalised health and advanced analytics technologies. These kinds of moves in the corporate wellness market can be seen as an indication of a trend in the direction of the development of integrated wellness solutions that incorporate different factors to do with employee health, which are important for companies that want to promote a healthy organisational culture.- 1.1 Report description
- 1.2 Key market segments
- 1.3 Key benefits to the stakeholders
2: Executive Summary
- 2.1 Corporate Wellness- Snapshot
- 2.2 Corporate Wellness- Segment Snapshot
- 2.3 Corporate Wellness- Competitive Landscape Snapshot
3: Market Overview
- 3.1 Market definition and scope
- 3.2 Key findings
- 3.2.1 Top impacting factors
- 3.2.2 Top investment pockets
- 3.3 Porter’s five forces analysis
- 3.3.1 Low bargaining power of suppliers
- 3.3.2 Low threat of new entrants
- 3.3.3 Low threat of substitutes
- 3.3.4 Low intensity of rivalry
- 3.3.5 Low bargaining power of buyers
- 3.4 Market dynamics
- 3.4.1 Drivers
- 3.4.2 Restraints
- 3.4.3 Opportunities
4: Corporate Wellness Market by Application / by End Use
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Small-scale Organizations
- 4.2.1 Key market trends, factors driving growth, and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market share analysis by country
- 4.3 Medium-scale Organizations
- 4.3.1 Key market trends, factors driving growth, and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market share analysis by country
- 4.4 Large-scale Organizations
- 4.4.1 Key market trends, factors driving growth, and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market share analysis by country
5: Corporate Wellness Market by By Service
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Health Risk Assessment
- 5.2.1 Key market trends, factors driving growth, and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market share analysis by country
- 5.3 Fitness
- 5.3.1 Key market trends, factors driving growth, and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market share analysis by country
- 5.4 Smoking Cessation
- 5.4.1 Key market trends, factors driving growth, and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market share analysis by country
- 5.5 Health Screening
- 5.5.1 Key market trends, factors driving growth, and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market share analysis by country
- 5.6 Nutrition & Weight Management
- 5.6.1 Key market trends, factors driving growth, and opportunities
- 5.6.2 Market size and forecast, by region
- 5.6.3 Market share analysis by country
- 5.7 Stress Management
- 5.7.1 Key market trends, factors driving growth, and opportunities
- 5.7.2 Market size and forecast, by region
- 5.7.3 Market share analysis by country
- 5.8 Others
- 5.8.1 Key market trends, factors driving growth, and opportunities
- 5.8.2 Market size and forecast, by region
- 5.8.3 Market share analysis by country
6: Corporate Wellness Market by Region
- 6.1 Overview
- 6.1.1 Market size and forecast By Region
- 6.2 North America
- 6.2.1 Key trends and opportunities
- 6.2.2 Market size and forecast, by Type
- 6.2.3 Market size and forecast, by Application
- 6.2.4 Market size and forecast, by country
- 6.2.4.1 United States
- 6.2.4.1.1 Key market trends, factors driving growth, and opportunities
- 6.2.4.1.2 Market size and forecast, by Type
- 6.2.4.1.3 Market size and forecast, by Application
- 6.2.4.2 Canada
- 6.2.4.2.1 Key market trends, factors driving growth, and opportunities
- 6.2.4.2.2 Market size and forecast, by Type
- 6.2.4.2.3 Market size and forecast, by Application
- 6.2.4.3 Mexico
- 6.2.4.3.1 Key market trends, factors driving growth, and opportunities
- 6.2.4.3.2 Market size and forecast, by Type
- 6.2.4.3.3 Market size and forecast, by Application
- 6.2.4.1 United States
- 6.3 South America
- 6.3.1 Key trends and opportunities
- 6.3.2 Market size and forecast, by Type
- 6.3.3 Market size and forecast, by Application
- 6.3.4 Market size and forecast, by country
- 6.3.4.1 Brazil
- 6.3.4.1.1 Key market trends, factors driving growth, and opportunities
- 6.3.4.1.2 Market size and forecast, by Type
- 6.3.4.1.3 Market size and forecast, by Application
- 6.3.4.2 Argentina
- 6.3.4.2.1 Key market trends, factors driving growth, and opportunities
- 6.3.4.2.2 Market size and forecast, by Type
- 6.3.4.2.3 Market size and forecast, by Application
- 6.3.4.3 Chile
- 6.3.4.3.1 Key market trends, factors driving growth, and opportunities
- 6.3.4.3.2 Market size and forecast, by Type
- 6.3.4.3.3 Market size and forecast, by Application
- 6.3.4.4 Rest of South America
- 6.3.4.4.1 Key market trends, factors driving growth, and opportunities
- 6.3.4.4.2 Market size and forecast, by Type
- 6.3.4.4.3 Market size and forecast, by Application
- 6.3.4.1 Brazil
- 6.4 Europe
- 6.4.1 Key trends and opportunities
- 6.4.2 Market size and forecast, by Type
- 6.4.3 Market size and forecast, by Application
- 6.4.4 Market size and forecast, by country
- 6.4.4.1 Germany
- 6.4.4.1.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.1.2 Market size and forecast, by Type
- 6.4.4.1.3 Market size and forecast, by Application
- 6.4.4.2 France
- 6.4.4.2.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.2.2 Market size and forecast, by Type
- 6.4.4.2.3 Market size and forecast, by Application
- 6.4.4.3 Italy
- 6.4.4.3.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.3.2 Market size and forecast, by Type
- 6.4.4.3.3 Market size and forecast, by Application
- 6.4.4.4 United Kingdom
- 6.4.4.4.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.4.2 Market size and forecast, by Type
- 6.4.4.4.3 Market size and forecast, by Application
- 6.4.4.5 Benelux
- 6.4.4.5.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.5.2 Market size and forecast, by Type
- 6.4.4.5.3 Market size and forecast, by Application
- 6.4.4.6 Nordics
- 6.4.4.6.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.6.2 Market size and forecast, by Type
- 6.4.4.6.3 Market size and forecast, by Application
- 6.4.4.7 Rest of Europe
- 6.4.4.7.1 Key market trends, factors driving growth, and opportunities
- 6.4.4.7.2 Market size and forecast, by Type
- 6.4.4.7.3 Market size and forecast, by Application
- 6.4.4.1 Germany
- 6.5 Asia Pacific
- 6.5.1 Key trends and opportunities
- 6.5.2 Market size and forecast, by Type
- 6.5.3 Market size and forecast, by Application
- 6.5.4 Market size and forecast, by country
- 6.5.4.1 China
- 6.5.4.1.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.1.2 Market size and forecast, by Type
- 6.5.4.1.3 Market size and forecast, by Application
- 6.5.4.2 Japan
- 6.5.4.2.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.2.2 Market size and forecast, by Type
- 6.5.4.2.3 Market size and forecast, by Application
- 6.5.4.3 India
- 6.5.4.3.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.3.2 Market size and forecast, by Type
- 6.5.4.3.3 Market size and forecast, by Application
- 6.5.4.4 South Korea
- 6.5.4.4.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.4.2 Market size and forecast, by Type
- 6.5.4.4.3 Market size and forecast, by Application
- 6.5.4.5 Australia
- 6.5.4.5.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.5.2 Market size and forecast, by Type
- 6.5.4.5.3 Market size and forecast, by Application
- 6.5.4.6 Southeast Asia
- 6.5.4.6.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.6.2 Market size and forecast, by Type
- 6.5.4.6.3 Market size and forecast, by Application
- 6.5.4.7 Rest of Asia-Pacific
- 6.5.4.7.1 Key market trends, factors driving growth, and opportunities
- 6.5.4.7.2 Market size and forecast, by Type
- 6.5.4.7.3 Market size and forecast, by Application
- 6.5.4.1 China
- 6.6 MEA
- 6.6.1 Key trends and opportunities
- 6.6.2 Market size and forecast, by Type
- 6.6.3 Market size and forecast, by Application
- 6.6.4 Market size and forecast, by country
- 6.6.4.1 Middle East
- 6.6.4.1.1 Key market trends, factors driving growth, and opportunities
- 6.6.4.1.2 Market size and forecast, by Type
- 6.6.4.1.3 Market size and forecast, by Application
- 6.6.4.2 Africa
- 6.6.4.2.1 Key market trends, factors driving growth, and opportunities
- 6.6.4.2.2 Market size and forecast, by Type
- 6.6.4.2.3 Market size and forecast, by Application
- 6.6.4.1 Middle East
- 7.1 Overview
- 7.2 Key Winning Strategies
- 7.3 Top 10 Players: Product Mapping
- 7.4 Competitive Analysis Dashboard
- 7.5 Market Competition Heatmap
- 7.6 Leading Player Positions, 2022
8: Company Profiles
- 8.1 Compsych (United States)
- 8.1.1 Company Overview
- 8.1.2 Key Executives
- 8.1.3 Company snapshot
- 8.1.4 Active Business Divisions
- 8.1.5 Product portfolio
- 8.1.6 Business performance
- 8.1.7 Major Strategic Initiatives and Developments
- 8.2 Wellness Corporate Solutions (United States)
- 8.2.1 Company Overview
- 8.2.2 Key Executives
- 8.2.3 Company snapshot
- 8.2.4 Active Business Divisions
- 8.2.5 Product portfolio
- 8.2.6 Business performance
- 8.2.7 Major Strategic Initiatives and Developments
- 8.3 Optum
- 8.3.1 Company Overview
- 8.3.2 Key Executives
- 8.3.3 Company snapshot
- 8.3.4 Active Business Divisions
- 8.3.5 Product portfolio
- 8.3.6 Business performance
- 8.3.7 Major Strategic Initiatives and Developments
- 8.4 Inc. (United States)
- 8.4.1 Company Overview
- 8.4.2 Key Executives
- 8.4.3 Company snapshot
- 8.4.4 Active Business Divisions
- 8.4.5 Product portfolio
- 8.4.6 Business performance
- 8.4.7 Major Strategic Initiatives and Developments
- 8.5 Virgin Pulse (United States)
- 8.5.1 Company Overview
- 8.5.2 Key Executives
- 8.5.3 Company snapshot
- 8.5.4 Active Business Divisions
- 8.5.5 Product portfolio
- 8.5.6 Business performance
- 8.5.7 Major Strategic Initiatives and Developments
- 8.6 Quest Diagnostics (United States)
- 8.6.1 Company Overview
- 8.6.2 Key Executives
- 8.6.3 Company snapshot
- 8.6.4 Active Business Divisions
- 8.6.5 Product portfolio
- 8.6.6 Business performance
- 8.6.7 Major Strategic Initiatives and Developments
- 8.7 EXOS (United States)
- 8.7.1 Company Overview
- 8.7.2 Key Executives
- 8.7.3 Company snapshot
- 8.7.4 Active Business Divisions
- 8.7.5 Product portfolio
- 8.7.6 Business performance
- 8.7.7 Major Strategic Initiatives and Developments
- 8.8 Privia Health (United States)
- 8.8.1 Company Overview
- 8.8.2 Key Executives
- 8.8.3 Company snapshot
- 8.8.4 Active Business Divisions
- 8.8.5 Product portfolio
- 8.8.6 Business performance
- 8.8.7 Major Strategic Initiatives and Developments
- 8.9 Central Corporate Wellness (Singapore)
- 8.9.1 Company Overview
- 8.9.2 Key Executives
- 8.9.3 Company snapshot
- 8.9.4 Active Business Divisions
- 8.9.5 Product portfolio
- 8.9.6 Business performance
- 8.9.7 Major Strategic Initiatives and Developments
- 8.10 Sodexo (France)
- 8.10.1 Company Overview
- 8.10.2 Key Executives
- 8.10.3 Company snapshot
- 8.10.4 Active Business Divisions
- 8.10.5 Product portfolio
- 8.10.6 Business performance
- 8.10.7 Major Strategic Initiatives and Developments
- 8.11 Vitality Group (Spain)
- 8.11.1 Company Overview
- 8.11.2 Key Executives
- 8.11.3 Company snapshot
- 8.11.4 Active Business Divisions
- 8.11.5 Product portfolio
- 8.11.6 Business performance
- 8.11.7 Major Strategic Initiatives and Developments
- 8.12 Truworth Wellness (India)
- 8.12.1 Company Overview
- 8.12.2 Key Executives
- 8.12.3 Company snapshot
- 8.12.4 Active Business Divisions
- 8.12.5 Product portfolio
- 8.12.6 Business performance
- 8.12.7 Major Strategic Initiatives and Developments
- 8.13 Fitlinxx (United States)
- 8.13.1 Company Overview
- 8.13.2 Key Executives
- 8.13.3 Company snapshot
- 8.13.4 Active Business Divisions
- 8.13.5 Product portfolio
- 8.13.6 Business performance
- 8.13.7 Major Strategic Initiatives and Developments
9: Analyst Perspective and Conclusion
- 9.1 Concluding Recommendations and Analysis
- 9.2 Strategies for Market Potential
Scope of Report
Aspects | Details |
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By Application |
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By By Service |
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