DUBLIN, Feb. 12, 2024 /PRNewswire/ — The “Global Corporate Wellness Market Analysis & Forecast to 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global corporate wellness market is on a decisive climb, with new research forecasting an impressive expansion from USD 72.27 billion in 2023 to a staggering USD 177.83 billion by 2034. A robust compound annual growth rate (CAGR) of 8.53% is anticipated during the period from 2024 to 2034, signaling a heightened focus on health and wellness within the corporate sphere.
The digital era has brought with it a wave of consciousness around the importance of proactive health measures in the workplace. This shift is reflected in the increasing adoption of comprehensive wellness programs by businesses of all sizes, allowing them to reap the benefits of a healthier workforce.
With chronic diseases burgeoning and pushing costs up, corporations are leaning towards multifaceted approaches aimed at enhancing staff health education, fitness regimens, and connectedness — even among remote employees.
Fitness programs have emerged as a driving force in fostering wellness and camaraderie amongst telecommuters, earmarking sizeable market growth. Additionally, health risk assessments, serving as the cornerstone of corporate health strategies, generated the maximum revenue in 2023. Approximately 80% of well-being providers implement these assessments, emphasizing the crucial role of early detection and effective intervention.
The research highlights the fitness & nutrition consultants segment as the preeminent revenue source in 2023, with employers progressively nurturing healthier dietary habits within their workplaces. On the fringe of this trend, psychological therapy, embracing modalities like art therapy and meditation, is anticipated to proliferate at the fastest CAGR throughout the forecast period.
From a delivery model perspective, onsite wellness offerings outperformed in 2023 due to their custom-tailored approach to employee health. Counterbalancing this, offsite programs are forecasted to experience the sharpest growth, propelled by advancements in health technology and strategic corporate mergers and acquisitions.
When it comes to end-users, large-scale organizations grasped the highest revenue share, with comprehensive program integrations yielding considerable ROI. However, the report also anticipates rapid growth for small-scale entities, emphasizing the rising cognizance of the integral role employee health plays in reducing absenteeism and insurance premiums.
In regional analysis, North America is projected to claim the lion’s share of revenue, motivated by burgeoning corporate stress and innovative wellness solutions. Nevertheless, it’s the Asia Pacific sector set to leap forward at an unmatched pace, fueled by an expanding workforce and increased corporate healthcare spending.
The study delves deep into various dimensions of corporate wellness, encompassing segments by service, category, delivery model, and end-user, and presents an elaborate geographical analysis highlighting North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
This comprehensive analysis of the corporate wellness market is expected to serve as a touchstone for corporations aspiring to implement or enhance wellness initiatives, offering insights into the trends and growth opportunities within the space.
Segmentation: Corporate Wellness Market Report 2023 – 2034
Corporate Wellness Market Analysis & Forecast by Service
- Fitness
- Stress Management
- Health Screening
- Smoking Cessation
- Health Risk Assessment
- Nutrition & Weight Management
- Others
Corporate Wellness Market Analysis & Forecast by Category
- Organizations/Employers
- Psychological Therapists
- Fitness & Nutrition Consultants
Corporate Wellness Market Analysis & Forecast by Delivery Model
- Offsite
- Onsite
Corporate Wellness Market Analysis & Forecast by End-user
- Large Scale Organizations
- Medium Scale Organizations
- Small Scale Organizations
Companies Profiled
- Vitality
- Wellness Corporate Solutions
- Central Corporate Wellness
- Virgin Pulse
- Truworth Wellness
- EXOS
- Privia Health
- SOL Wellness
- ComPsych
- Wellsource Inc.
- Marino Wellness
For more information about this report visit https://www.researchandmarkets.com/r/5nel3n
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SOURCE Research and Markets
