In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this U.S. Workplace Stress Management Market Report
The U.S. workplace stress management market by revenue is expected to grow at a CAGR of 8.25% during the period 2022-2027.
The pandemic aggravated stress, driving demand for therapeutic intervention and demonstrating the need for equitable and accessible mental health benefits. The disaster distress helpline, a federal crisis hotline operated by the substance Abuse and Mental Health Services Administration, has witnessed an increase of over 300% in calls since February 2020. The U.S. workplace stress management market is particularly growing with the presence of vendors such as ComPsysch, LabCorp, ActiveHealth, CuraLinc Healthcare, and Marino Wellness, among others offering services at workplaces.
The following factors are likely to contribute to the growth of the U.S. workplace stress management market.
- Rising Attention to Occupational Safety and Health Regulations
- Employee Turnover Rate
- Stress Encountered by Women is Higher Due to COVID-19 Pandemic
- Increasing Use of Artificial Intelligence
- Rise in Number of Working Hours
- Increasing Awareness of Stress Management
- Changing Needs of Employees
- Employees are going through epidemic levels of stress due to the COVID-19 pandemic and depression that is a direct result of always-on responsibility, dwindled workforce, and toxic office environment and culture. This has warranted the need for workplace stress management programs to boost sustainable development and a thriving standard of high-quality life which is fueling the stress management market.
- Vendors should integrate platforms to include health assessment and performance tracking of the employees. Few vendors in the market have platforms in the form of applications such as Runkeeper, which helps employers analyze employee performance and assists them in taking the proper initiative to enhance their productivity.
- The company should understand the need of employees and design stress management programs as per the changing dynamics. The programs should be designed in accordance with the work from home era triggered by the COVID-19 pandemic.
U.S. WORKPLACE STRESS MANAGEMENT MARKET SEGMENTATION
This research report includes a detailed segmentation by:
- Delivery mode
- Employers can start emphasizing mental health by ensuring that employees have access to mental health advantages involving an employee assistance program (EAP). EAPs are helpful as they can offer referrals to mental health professionals and other services while upholding strict standards of confidentiality.
- Yoga and meditation offer extensive mental, physical, and emotional relaxation. It directs the conscious level of a person in an optimistic direction and transforms the mind. The yoga and meditation segment will grow at the highest CAGR.
- The stress level assessment of employees at the workplace gains vital importance to enhance the efficacy of employees. Workplace stress assessment helps the employers evaluate and identify any issues or factors causing work-related stress to the employees.
Market Segmentation by Type
Market Segmentation by Service
- Stress Assessment
- Yoga and Meditation
- Progress Tracking Metrics
- Resilience Training
Market Segmentation by Delivery Mode
- Personal Fitness Trainers
- Meditation Specialists
- Individual Counselors
Market Segmentation by Location
Market Segmentation by End-User
- Large Private Sector
- Medium Private Sector
- Public Sector
- Small Private Sector
- Non-Profit Organizations
- The leading drivers for health and well-being programs in the US are the need to manage workplace stressors such as long working hours, quality of work-life balance, rising competition at the workplace, and others. Organization profits that recorded an uptick after a long period of sluggish growth fuel the adoption of stress management programs.
- The US people pay a greater price from workplace stressors, in terms of health costs and perhaps mortality compared to OECD countries in Europe. Expansion of health insurance coverage, increasing awareness about workplace stress costs, and adopting family-friendly work policies more widely, could considerably benefit US workers.
Market Segmentation by Geography
- Southern US
- Western US
- Mid-West US
- North-East US
- The market has witnessed the entry of a lot of external players, such as in-house services by large businesses and other entities in the health and fitness space that offer membership discounts to drive up their share in the market.
- Vendors compete in terms of aftersales services, brand value, customization ability, price, skilled workforce, and technological capability as well. Most of these vendors offer stress management services and wellness portals. Vendors also tend to tie up with technology companies to develop stress management programs.
- CVS Health (ActiveHealth)
- CuraLinc Healthcare
- Marino Wellness
OTHER PROMINENT VENDORS
- Asset Health
- Sol Wellness
- Virgin Pulse
- Active Wellness
- Alyfe Wellbeing Strategies
- Beacon Health Options
- Corporate Fitness Works
- Integrated Wellness Partners
- Provant Health Solutions
- Karelia Health
KEY QUESTIONS ANSWERED:
- 1. What is the U.S. workplace stress management market value?
- 2. Which region holds the highest share in the U.S. workplace stress management market?
- 3. Who are the key players in the U.S. workplace stress management market?
- 4. What are the major factors driving the growth of the U.S. workplace stress management market?
- 5. Who are the end-users in the US workplace stress management market?