The Global Corporate Wellness Market revenue is $48.41 billion by 2017 and forecasted to grow at a CAGR of more than 5.5% during 2018 to 2023 to reach $billion. Progressively, Large Scale Organizations holds maximum revenue of $28.06 billion in 2017. By Service, Health Risk Assessments (HRA) usage is very high as its revenue is $9.03 billion followed by Stress Management with $8.86 billion in 2017 which are driving the market. In North America, Alcohol & Drug Abuse services records $2.04 billion in 2017.Eventually the market is in full force to emerge in all required means to stand competitive.
What is Corporate Wellness Market?
Corporate Wellness is important as most of the employees in an organization are suffering from various diseases like hypertension, depression and so on. Excellent employee benefit programs can improve the financial, mental and physical health of employees and to mitigate costs associated with healthcare and turnover. Healthy employees can spend less on health care, take fewer sick days which gives more productive output. Evolving industrialization in growing economies reduce the incidences such as, hypertension and other diseases like diabetes with diabetes management. Increase in government initiatives such as health screening programs for employees which are predicted to lead the corporate wellness market as companies are set to take advantage of the opportunity.
This report incorporates an in-depth assessment of Corporate Wellness Market by Service, Category, End-User and Geography.
What are the Major Applications for Corporate Wellness Market?
The various end-users assessed includes Small Scale Organizations, Medium Scale Organizations and Large Scale Organizations. Large Scale Organizations increase the productivity, health and employees can reduce the absenteeism which might lead to achieve organizational goals faster and better. Corporate wellness increases the morale of the employees. In Small and Medium Scale Organizations, Corporate Wellness will increase trust, communication and respect which helps to reach it to higher management people.
Market Research and Market Trends of Corporate Wellness Market
- Financial health is an emerging element where employees experience significant stress, related to financial issues and companies are now ready to bear the health responsibilities of their employees. Predictions in funding elements like education, assessments and action plans, soon they are going to emerge as an offering of corporate wellness programs. Wellness programs for employees are increasingly an important tool to attract top talent and improve the quality of life for their workforce. These growth in the Wellness and Health promotion, market is a way for the companies to collect the highest return on your valuable employee wellness program investments.
- The power of incentives will affect the employee wellness outcomes, they are becoming more popular, plentiful and inventive. Some companies in U.S. are using the lottery system with exciting prizes like theater or sports tickets to encourage employees to make better choices when it points their mood. As these wellness programs are to engage, encourage and reward their employees, the incentives become more creative and in some cases, more lucrative for the employee. These aspects are influential as most of the companies are attracting towards this, where it is not only increasing productive work but also it helps to thrive the growth of the company.
Who are the Major Players in Corporate Wellness market?
The companies referred to in the market research report includes Well Nation, Virgin Pulse, Provant Health Solutions, ComPsych, Aduro, Inc, Beacon Health Options, ComPsych Corporation, EXOS, Fit bit Inc, Competition Matrix, Central Corporate Wellness and more than 20 companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.