Global CorporateWellness Market, by Service (Health Risk Assessment, Fitness, SmokingCessation, Health Screening, Nutrition & Weight Management, StressManagement, and Others), by End User (Small-scale Organizations, Medium-scaleOrganizations, and Large-scale Organizations), and by Region (North America,Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$53,645.7 million in 2018, and is projected to exhibit a CAGR of 7.2% over theforecast period (2019 – 2027), as highlighted in a new report published byCoherent Market Insights.
Increasing initiatives by marketplayers and government authorities for employee wellness is expected to augmentthe market growth
Key players and governmentauthorities are partnering for the launch of initiatives aimed at the employeewellness. For instance, in January 2015, Sodexo, Inc., and the YMCA of CentralFlorida in collaboration launched a healthier workforce initiative for thewellness of individuals, families, and communities. The initiative is developedto improve the traditional and mostly underutilized employee wellness programsthrough a personal and system-based approach.
Moreover, key players are engagedpromoting their services in exhibitions and other shows, which is expected toboost the market growth.
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For instance, in October 2016,Central Wellness, a company offering wellness programs, participated in theWKYC Health & Wellness Expo held at Cleveland Convention Center and interactedwith individuals for promoting its services.
Browse 29 Market Data Tables and22 Figures spread through 128 Pages and in-depth TOC on ‘Corporate WellnessMarket’- Global Forecast to 2027 by Service (Health Risk Assessment, Fitness,Smoking Cessation, Health Screening, Nutrition & Weight Management, StressManagement, and Others), by End User (Small-scale Organizations, Medium-scaleOrganizations, and Large-scale Organizations), and by Region (North America,Latin America, Europe, Asia Pacific, Middle East, and Africa)
Furthermore, rising stress anddepression conditions at the workplace and increasing prevalence of smoking,obesity, and overweight is expected to drive the market growth. According tothe Annual Work Stress Survey carried by Harris Interactive on behalf ofEverest College, around 83% of employees in 2014 suffered from stress at workin the North America. Similarly, according to World Health Organization’s datapublished in February 2018, since 1975, obesity has nearly tripled globally,and it was estimated that in 2016, globally, 39% of adults aged 18 years andabove were overweight and around 13% were obese. Furthermore, according to thesame source, in 2016, over 1.9 billion adults (aged 18 years and above) wereoverweight, out of which over 650 million were obese.
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Key Takeaways of the GlobalCorporate Wellness Market:
The global corporate wellnessmarket is expected to exhibit a CAGR of 7.2% over the forecast period, owing toincreasing prevalence of diabetes, high blood pressure, and other. According tothe data published by Centers for Disease Control and Prevention (CDC), inJanuary 2018, the death rate due to high blood pressure increased by around 11%in the U.S. between 2005 and 2015, and the number of deaths rose by around 38%by the year 2015.
Among regions, North America helda dominant position in the global corporate wellness market in 2018, owing toincreasing adoption of corporate wellness programs by corporate offices andrising health awareness among the population for living a healthy and stress-freelife.
Key players operating in theglobal corporate wellness market include Wellness Corporate Solutions, ComPsychCorporation, United Health Group, Sodexo, BupaWellness Pty Ltd., Recovre Group,Central Corporate Wellness, Truworth Wellness, CXA Group Pte. Limited, SOLWellness, ComPsych Corporation, Virgin Pulse, Inc., Interactive Health, Inc.,and ConneXions Asia
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