Corporate Wellness Market Trends 2022, Regional Outlook, Industry Analysis, Global Growth, Size, Share, Key Players And Forecast 2030

Research Reports

Oct 18, 2022

Market Overview

With potential factors driving the market dynamics, the Corporate Wellness Market was estimated to show healthy and substantial growth in its forecast period. The market stood at $58.24 billion in 2020. With a growth rate of 8.29% of CAGR, the market is again predicted to showcase a global market value of $110.09 billion by the end of 2028. The market was announced with a forecast period from 2022 to 2028. There have been multiple campaigns launched by corporate employees in order to create a potential awareness regarding the wellness of the people and the safety of the surroundings.

The Corporate Wellness Market is majorly targeted at creating wellness solutions for corporate employees. This was due to so many cases of people being acquired with chronic diseases. This is also targeted at reducing the health risks of the employees. Following a certain set of rules could easily increase the productivity and wellness of the work surrounding. There have been increasing investments of many key players towards the stress management programs and mental health of the employees. There is always an increased chance of employees being vulnerable to anxiety and panic attacks due to the increasing workload. The key players of the market were subjected to form potential products and be a part of collaborations. This included wearable devices like smartwatches that could detect the workload and alarm the person in case the limit exceeds. Factors like such majorly contributed to the growth and development of the industry. The global pandemic, however, has restraining effects on the market dynamics.

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The supply chain of the market was hampered due to the several restrictions put by the government. The import and export of the products were hampered, and this led to a major loss to the manufacturers and retailers of the Corporate Wellness Market. Along with this, there was also a higher chance of the employee’s data getting breached by the hackers. There have been increasing concerns about data security, where hackers could easily track back their data into the company’s private and confidential information.

Apart from all the driving and restraining factors, potential growth is predicted for the market in its forecast period.

Market Segmentation

The Corporate Wellness Market is segmented into its service, category and end user.

By service, the market is divided into biometric screening, stress management, fitness and health risk assessment, along with smoking cessation and fitness. The market is segmented into psychological therapists and nutrition and fitness organizations based on category. The market is again divided into small, medium and large-scale organizations by its end-user segmentation.

Regional Analysis

The Corporate Wellness Market is widespread across the areas of North America, Asia Pacific, Latin America and parts of Australia as well.

Recent Developments

The Corporate Wellness Market has seen major developments in the past few years.

April 2021: One of the leading market firms, Workplace Options, collaborated with LifeWorks and launched a live counseling session for regularly reviving the mental health of people in their workplace.
Feb 2020: Anthem took with itself another leading firm, Beacon Health Option, that studied the company’s health capacities and provided partnered solutions.

Key Players:

The prominent players in the global corporate wellness market are ComPsych Corporation (US), Wellness Corporate Solutions (US), Virgin Pulse (US), Privia Health (US), UnitedHealth Group (US), Quest Diagnostics (US), EXOS (US), Central Corporate Wellness (Singapore), Sodexo (France), Vitality Group International, Inc. (US), among others.

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