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The Corporate Wellness Market is expected to reach $63.38 billion by 2023

Published By: IndustryARC Published On : 03-Sep-2018
According to the new market research report by IndustryARC titled “Corporate Wellness by Service (Nutrition and Weight Management, Fitness Services, Stress Management, Smoking Cessation, Others); By Category (Fitness &Nutrition Consultants, Psychological Therapists &Organizations); By End-User (Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations) & Geography – Forecast (2018-2023)”, the market is driven by the growing industrialization in developing countries and rising incidences of hypertension. 

Browse 65 Market Tables, 177 Figures spread through 138 slides and an in-depth TOC on “Corporate Wellness Market (2018 - 2023)

North America dominates the Corporate Wellness Market during the forecast period 

North America has a major share in the Corporate Wellness Market followed by Europe. US is expected to reach $20.1 billion at a CAGR of 4.5%. In the US, instances of work related stress and illness of employees is driving the regional market. Wellness programs such as immunizations, flu shots, health fitness appraisal, and membership discount at gym/fitness clubs are used by the employees in the US to encourage employees in these programs. The implementation of the wellness programs in the US is also increasing due to the encouragement of the U.S. Affordable Care Act to adopt employee sponsored wellness programs. In the UK, the employees abstain from work due to health issues such as anxiety and depression. This factor drives the demand for corporate wellness in the UK. 

Selected Analysis done in the full Report:

Nutrition and weight Management reached a revenue of $7.12 billion in 2017. It will reach $10.56 billion at a CAGR of 5.8% by 2023. . Fitness services reached a revenue of $8.28 billion in 2017.  It is expected to reach $12.68 billion at a CAGR of 6.3% by 2023.Workplace wellness nutrition programs can reach many employees and address multiple issues. These concepts can bring employees together and help them support each other in making better choices. Popular programs cover different topics such as stress, balanced moods, weight loss, menopause, etc. Educational handouts are also provided to the employees which contain information on nutrition programs such as recipes and meal ideas. Speakers can advise employees with practical tips on how to make good nutritional choices. Nutrition plays an important role in reducing most cancers. Eating nutritious food is the best defense in fighting cancer and is important for cancer treatment and recovery. 

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Excerpts on Market Growth Factors

Growing industrialization in developing nations will enhance the growth of the Corporate Wellness Market in the coming years. 

Increasing incidences of hypertension, obesity, depression, diabetes and cardiovascular diseases will drive the demand for corporate wellness. 

Increasing government initiatives to implement wellness programs for employees spurs the growth of Corporate Wellness Market. 

Increasing healthcare costs and discounts offered to employees participating in the wellness program drive the demand for corporate wellness.    

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Key players of the Corporate Wellness Market 

Marino Wellness, EXOS, Wellness Corporate Solutions are the key players of the Corporate Wellness Market. Marino Wellness provides services such as office massage and office fitness. In office massage, an on-site short format chair massage is provided to reduce stress and increase energy. In office fitness, physical activity is provided in the office through yoga, boot camp, etc. Exos offers a performance kiosk that is a compatible mobile design system. This system can adapt to different environments. It helps employees to reduce pain and improve posture.

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