The occupational health market is projected to reach US$ 5,493.39 million by 2028 from US$ 4,405.13 million in 2021; it is expected to grow at a CAGR of 3.2% from 2021 to 2028.
Market Overview:
The report highlights the key factors driving the market and prominent players with their developments in the market. Factors such as the rising number of occupational diseases and disorders, and favorable regulatory environment toward occupational health market growth. However, the lack of skilled professionals and inaccessibility of trade secrets hamper the market growth.
The occupational health market, by type, is segmented into work-induced stress, asbestosis, hearing loss due to noise, disorders caused due to chemicals and vibrations, and others. In 2021, the hearing loss due to noise segment accounted for the largest share of the market. This segment is likely to maintain its dominance in terms of revenue share during the forecast period. However, the work-induced stress segment is expected to register the highest CAGR during the forecast period.
Occupational health is a public health area that revolves around promoting and maintaining the physical, psychological, and social well-being of employees at their respective workplaces. Maintaining occupational health involves preventing work-related illnesses, stress, and injuries to ensure safety at the workplace. The knowledge and practice of occupational health involve several disciplines such as ergonomics, psychology, hygiene, and safety. It focuses on the forestallment, assessment, treatment, and resolution of health conditions caused by the workplace terrain and reduces the burden of healthcare expenditure, eventually resulting in improved productivity. The manufacturing sector presents a major market for the occupational health sector. Exposure to harmful chemicals in certain work environments leads to serious disorders such as cancer and asthma. Occupational health services and products help prevent such disorders.
Premise Health; Select Medical Corporation (Concentra Inc.); NOHS Medical Center; MBI Industrial Medicine Inc.; Holzer Health System; Occucare International; Examinetics; Amgen, Inc.; Novartis AG; and Johnson & Johnson are among the leading companies operating in the occupational health market.
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The occupational health market has been segmented as follows:
The occupational health market is segmented on the basis of type and geography. Based on type, the market is further segmented into work-induced stress, asbestosis, hearing loss due to noise, disorders caused due to chemicals and vibrations, and others. The hearing loss due to noise segment held the largest share of the market in 2021. Moreover, the work-induced stress segment is anticipated to register the highest CAGR in the market during the forecast period. The projected market growth of this segment is ascribed to the poor work design (indicated by the lack of control over work processes) and unsatisfactory working conditions. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SCAM). The occupational health market in North America is subsegmented into the US, Canada, and Mexico. The market in Europe is further segmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The occupational health market in Asia Pacific (APAC) is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa (MEA) is segmented Into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The occupational health market in South and Central America (SCAM) is subsegmented into Brazil, Argentina, and the Rest of South and Central America.
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Occupational Health Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Work Induced Stress, Asbestosis, Hearing Loss Due to Noise, Disorders Caused Due to Chemicals and Vibrations, and Others)
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