Corporate Wellness Global Market Report 2024

Description

“Corporate Wellness Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on corporate wellness market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for corporate wellness? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The corporate wellness market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Service: Health Risk Assessment; Fitness; Smoking Cessation; Health Screening; Nutrition And Weight Management; Stress Management; Other Services
2) By Delivery Model: Onsite; Offsite
3) By Category: Fitness And Nutrition Consultants; Psychological Therapists; Organizations Or Employers
4) By End User: Private Sector; Public Sector; Other End Users
Companies Mentioned: ComPsych Corporation; Wellness Corporate Solutions LLC; Virgin Pulse Inc.; Provant Health Solutions LLC; Exos
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Corporate wellness, commonly referred to as workplace wellness, encompasses a broad spectrum of initiatives, plans, and organizational guidelines designed to foster positive behavior in the workplace. This employer-funded program is strategically developed to aid employees in adopting and sustaining practices that mitigate health risks, improve the quality of life, enhance productivity, and positively impact an organization's overall financial performance.

Key categories of corporate wellness services include health risk assessment, fitness programs, smoking cessation support, health screening, nutrition and weight management, stress management, and other related offerings. A health risk assessment (HRA), also known as a health appraisal or health assessment, serves as a screening tool that helps individuals identify and understand their health risks while monitoring their health condition over time. Various delivery models, such as onsite and offsite, involve specialists such as fitness and nutrition consultants, psychological therapists, and organizations or employers. These services cater to diverse end users, including the private sector, public sector, and other entities.

The corporate wellness market research report is one of a series of new reports from The Business Research Company that provides corporate wellness market statistics, including corporate wellness industry global market size, regional shares, competitors with a corporate wellness market share, detailed corporate wellness market segments, market trends and opportunities, and any further data you may need to thrive in the corporate wellness industry. This corporate wellness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The corporate wellness market size has grown strongly in recent years. It will grow from $65.14 billion in 2023 to $69.92 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%.The expansion observed during the historical period can be attributed to several factors, including a focus on employee health and productivity, initiatives in stress management, efforts to enhance employee engagement, the implementation of preventive healthcare measures, a commitment to occupational health and safety practices, and strategies aimed at talent attraction and retention.

The corporate wellness market size is expected to see strong growth in the next few years. It will grow to $95.78 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be ascribed to various factors, including the implementation of personalized wellness programs, addressing challenges related to remote work, the global expansion of corporate wellness initiatives, an emphasis on a holistic well-being approach, and a focus on achieving return on investment (ROI). Key trends expected during the forecast period encompass the integration of technology into wellness programs, the adoption of flexible and customizable initiatives, the use of incentivization and gamification strategies, the incorporation of strategic well-being metrics, and ongoing innovations in wellness technology.

The anticipated growth in the corporate wellness market is fueled by the increasing prevalence of chronic illnesses among corporate workers. Chronic illnesses, characterized by lasting three months or more and potentially worsening over time, have become more widespread among the corporate workforce. This expansion of chronic illnesses is contributing to the growth of the corporate wellness market, with companies implementing wellness programs that offer a variety of services aimed at mitigating chronic disease conditions. For instance, in November 2021, data from the Bureau of Labor Statistics indicated a significant surge in reported respiratory disease cases among employers, escalating by approximately 4,000% from 10,800 in 2019 to 428,700 in 2020. The rate of respiratory illness per 10,000 full-time equivalent workers increased from 1.1 cases in 2019 to 44.0 cases in 2020. Thus, the rising prevalence of chronic illnesses among corporate workers is a key driver for the growth of the corporate wellness market.

The escalating costs of healthcare are anticipated to drive the growth of the corporate wellness market in the foreseeable future. Healthcare costs, encompassing expenses for medical services, treatments, and products, are on the rise, prompting companies to invest in wellness programs as a proactive measure to mitigate medical expenses. As an illustration, in October 2021, The Society for Human Resource Management reported that healthcare costs per employee in the USA reached $13,000 in 2022, representing an increase from the $12,792 recorded in 2021. The allocated healthcare expenditure for 2021 witnessed a 5.2% rise compared to figures from 2020. Hence, the increasing healthcare costs for workers are contributing to the growth of the corporate wellness market.

Technological advancements have emerged as a prominent trend in the corporate wellness market, with major companies in the sector actively developing innovative solutions to strengthen their market positions. In September 2022, Virgin Pulse, a US-based provider of employee well-being solutions, introduced VP Activate-a sophisticated intelligent communication solution. VP Activate is designed to facilitate quick and proactive outreach by companies and health systems to their audiences. This data-driven, multi-channel communication solution identifies and connects with individuals at risk of a care gap, determining the most effective approach to engage key groups and promote action. By assessing individual needs and identifying obstacles to wellness activities, VP Activate employs a surround-sound strategy through both online and offline channels to achieve positive results.

Leading companies in the corporate wellness market are also channeling their efforts into developing innovative programs, such as advanced preventative care initiatives. An advanced preventative care program involves a comprehensive healthcare initiative that integrates cutting-edge medical technologies. For example, in November 2023, WELL Health Technologies Corp., a Canada-based digital health company, launched the 'WELL Longevity+ Program.' This progressive initiative is designed to enhance preventative health by integrating AI technologies and precision diagnostic testing. The program enables early diagnosis and identification of various health conditions, including heart disease, cancer, and neurodegenerative diseases.

In September 2022, Telus Corporation, a Canada-based company offering employee well-being solutions and telecommunications services, acquired LifeWorks Inc. for approximately $1.69 billion. This acquisition expanded TELUS Health's global reach, now serving corporate clients in over 160 countries and covering 50 million people worldwide. LifeWorks Inc., based in Canada, specializes in providing employee wellness and human resources services and technology.

Major companies operating in the corporate wellness market report are ComPsych Corporation, Wellness Corporate Solutions LLC, Virgin Pulse Inc., Provant Health Solutions LLC, Exos, Marino Wellness, Privia Health Group Inc., Vitality Group International Inc., Wellsource Inc., Central Corporate Wellness, SOL Wellness LLC, Well Nation, Aduro Inc., Beacon Health Options Inc., Fitbit Inc., Bupa Wellness Pty Ltd., The Vitality Group Inc., Truworth Health Technologies Pvt. Ltd., Sodexo Group, Quest Diagnostics Incorporated, 1to1help.net Pvt. Ltd., CHC Wellbeing lnc., Wellness 360 Technologies Inc., Premise Health, Kinema Fitness lnc., Health Advocate Inc., Onlife Health, TotalWellness Health, HealthCheck360, RedBrick Health, Corporate Fitness Works Inc.

North America was the largest region in the corporate wellness market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global corporate wellness market during the forecast period. The regions covered in the corporate wellness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the corporate wellness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The corporate wellness market revenues earned by entities by offering remote working arrangements, financial education, work-life balance, on-site fitness accommodations, and de-stressing activities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11651

1. Executive Summary

2. Corporate Wellness Market Characteristics

3. Corporate Wellness Market Trends And Strategies

4. Corporate Wellness Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Corporate Wellness Market Size and Growth

5.1. Global Corporate Wellness Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Corporate Wellness Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Corporate Wellness Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Corporate Wellness Market Segmentation

6.1. Global Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Health Risk Assessment
Fitness
Smoking Cessation
Health Screening
Nutrition And Weight Management
Stress Management
Other Services
6.2. Global Corporate Wellness Market, Segmentation By Delivery Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Onsite
Offsite
6.3. Global Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Fitness And Nutrition Consultants
Psychological Therapists
Organizations Or Employers
6.4. Global Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Private Sector
Public Sector
Other End Users

7. Corporate Wellness Market Regional And Country Analysis

7.1. Global Corporate Wellness Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Corporate Wellness Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Corporate Wellness Market

8.1. Asia-Pacific Corporate Wellness Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Corporate Wellness Market

9.1. China Corporate Wellness Market Overview
9.2. China Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Corporate Wellness Market

10.1. India Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Corporate Wellness Market

11.1. Japan Corporate Wellness Market Overview
11.2. Japan Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Corporate Wellness Market

12.1. Australia Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Corporate Wellness Market

13.1. Indonesia Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Corporate Wellness Market

14.1. South Korea Corporate Wellness Market Overview
14.2. South Korea Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Corporate Wellness Market

15.1. Western Europe Corporate Wellness Market Overview
15.2. Western Europe Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Corporate Wellness Market

16.1. UK Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Corporate Wellness Market

17.1. Germany Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Corporate Wellness Market

18.1. France Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Corporate Wellness Market

19.1. Italy Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Corporate Wellness Market

20.1. Spain Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Corporate Wellness Market

21.1. Eastern Europe Corporate Wellness Market Overview
21.2. Eastern Europe Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Corporate Wellness Market

22.1. Russia Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Corporate Wellness Market

23.1. North America Corporate Wellness Market Overview
23.2. North America Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Corporate Wellness Market

24.1. USA Corporate Wellness Market Overview
24.2. USA Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Corporate Wellness Market

25.1. Canada Corporate Wellness Market Overview
25.2. Canada Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Corporate Wellness Market

26.1. South America Corporate Wellness Market Overview
26.2. South America Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Corporate Wellness Market

27.1. Brazil Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Corporate Wellness Market

28.1. Middle East Corporate Wellness Market Overview
28.2. Middle East Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Corporate Wellness Market

29.1. Africa Corporate Wellness Market Overview
29.2. Africa Corporate Wellness Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Corporate Wellness Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Corporate Wellness Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Corporate Wellness Market Competitive Landscape And Company Profiles

30.1. Corporate Wellness Market Competitive Landscape
30.2. Corporate Wellness Market Company Profiles
- 30.2.1. ComPsych Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Wellness Corporate Solutions LLC
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Virgin Pulse Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Provant Health Solutions LLC
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Exos
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Corporate Wellness Market Competitive Benchmarking

32. Global Corporate Wellness Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Corporate Wellness Market

34. Corporate Wellness Market Future Outlook and Potential Analysis

34.1 Corporate Wellness Market In 2028 - Countries Offering Most New Opportunities
34.2 Corporate Wellness Market In 2028 - Segments Offering Most New Opportunities
34.3 Corporate Wellness Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer