The global corporate wellness market was valued at USD 59.69 billion in 2024 and is also expected to reach USD 83.33 billion by 2029, growing at a CAGR of 6.9% between 2024 to 2029.
Corporate wellness has become a modern trend and necessity for organizations to keep up with employee health and well-being, encouraging market growth. Besides, corporate well-being services during COVID-19 and post-COVID-19 emphasize mental health interventions to assist staff in these unprecedented times. While mental health services have become part of the well-being of the workplace, the pandemic has exposed the need to move it to the workplace.
A significant increase in the prevalence of chronic diseases worldwide and the acceptance of sedentary lifestyles are some of the key factors driving the market growth. As the work culture advanced through humanity's experiences, it accompanied many benefits and hazards. The incorporation of innovative at work may have made things simpler at work. In any case, this occurred at the expense of lesser busy work, which is a fundamental necessity for an individual to have a healthy existence; with more hours spent in the work area and less on one's well-being, a worker battles to keep up healthy living as long as possible. This condition can change by moving toward corporate well-being programs, which leads to a compelling method to instruct representatives on the significance of creating healthy habits, including health objectives, which are projected to drive interest in corporate well-being programs.
Moreover, corporate programs manage stress to overcome mental illnesses and other chronic diseases. Openness and accessibility of these projects in numerous organizations for keeping up representative well-being, including Google, Accenture, and Microsoft, should encourage business development.
Growing awareness and implementing corporate wellness initiatives accelerate the development of the corporate wellness market. Corporate health has advanced as of late. Business pioneers currently comprehend that worker prosperity includes substantially more than actual well-being. Therefore, health programs have advanced from being an additional advantage in HR to the foundation of an organization's business technique. Henceforth, organizations are setting up available wellness habitats, Paramedical administrations, Yoga classes, Wellness experiences, Stress management and resilience workshop, and Emotional intelligence leadership training. The prologue to such projects is intended to help and urge a comprehensive way to deal with representative prosperity by making a hierarchical culture of well-being advantageous for the corporate wellness industry development. Besides, service providers provide both in-house and outsourced healthcare services, which serve as an opportunity to develop the corporate wellness industry.
Key market participants such as Georgia Pacific, Autodesk, and NetApp use smartphone applications, smart devices, and employee data to monitor the health of their workers on the market. The use of data analytics will also help companies develop customized services and add to revenues in the global corporate wellness industry. Also, the desire to reduce growing healthcare costs, the healthcare services given to workers, and the economic incentives presented by these systems have led to the growth of the corporate wellness industry.
However, massive costs for the market participants to implement occupational health policies and a high return on investment from wellness services are expected to hinder corporate wellness market growth. Nonetheless, the arrival of a new age of personalized education and solutions to the individualized well-being of each employee through AI will change the global corporate wellness industry.
The COVID-19 pandemic has influenced everybody from multiple points of view. For some employees, the well-being emergency introduced considerable changes to the work environment, with a significant move to remote work. Further, with the elevated well-being awareness and the expanding need laborers have put on their well-being in the wake of the pandemic, corporate wellness is another part of work that the emergency will affect. More than 70 % of laborers have depicted the pandemic as the most stressful time in their professional careers. From getting pay cuts, encountering monetary pressure, losing a friend or family member to the infection the challenge of juggling work with home duties, the Covid pandemic has negatively affected representatives' psychological and actual well-being. These changes have pivoted corporate well-being, with another concentration on meeting the well-being needs of the remote workforce.
The pandemic hit the economy, creating a money-related crisis for specific individuals, subsequently affecting their health. To handle the issue, service providers are receiving virtual techniques to offer types of assistance, for example, meetings with psychologists and health coaches. As a result of the COVID-19 pandemic, the associations have found ways to deal with guarantee and spotlight their laborers by giving specialized help to help social distancing in the execution of new leave methodologies. The business center has moved to preventive and productive administration by assisting workers with adjusting principles.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
Segments Covered |
By Service Type, Category, End-User & Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
EXOS, Wellness Corporate Solutions, ComPsych, Provant Health Solutions, Virgin Pulse, Marino Wellness, Vitality Group, Wellsource, and Central Corporate Wellness. |
Based on the service type, the health risk assessment segment will lead the corporate wellness market during the forecast period. The screening activities to identify health risks and implement appropriate interventional strategies are involved in corporate wellness to develop a good lifestyle. More than 80% of employers offer employee well-being services. In addition, Wellness Corporate Solutions launched WCS Analytics + platform in 2016. These are the factors that led to the health risk assessment segment. The Nutrition and weight management segment is anticipated to witness the highest growth during the forecast period. The presence of healthcare apps that provide actual and specific data boosts the Nutrition and weight management segment during the forecast period.
According to Category, the organization's segment is projected to dominate the market during the forecast period. The awareness programs by organizations are driving the segment. Corporate wellness has become a modern trend and needs organizations to keep up with employee health and well-being, encouraging market growth. The Fitness and Nutrition Consultants are anticipated to grow high in the upcoming years. The rise in awareness about secured healthcare is driving the segment's growth. The Fitness and Nutrition Consultants provides numerous programs for individual health conditions.
Based on the end-user, the large-scale businesses segment led the market in 2023. The tremendous increase in organizations' investments in health screening services for better employee care drives large-scale businesses. For instance, according to RAND, in 2013, more than 70% of organizations invested in health screening services.
Geographically, the North American corporate wellness market is predicted to lead the global corporate wellness market during the forecast period. The rise in population and change in lifestyle negatively impact the employee's health, affecting the corporate owners towards health benefits. During the forecast period, the United States is the most significant contributor to the North American corporate wellness market due to the growing technology used to improve outcomes and the rising artificial intelligence reign. Moreover, a change in perspective toward corporate wellness programs due to incorporating social connectivity is another crucial factor that boosted the region's target market's growth. The increasing awareness of healthy eating habits & exercise, the high prevalence of obesity, and the decreasing insurance and healthcare costs are the factors that propel the growth of the Canada Corporate Wellness Market.
The Europe Corporate Wellness Market is the second-largest market globally, followed by North America. The primary factor that has driven the growth of the target market in Europe is the access to workspace wellness programs for most of the employees in this region.
However, APAC Corporate Wellness Market is estimated to grow with the highest CAGR, followed by Latin America. These regions are anticipated to be the market's growth drivers during the forecast period, the growing working population in the Asia Pacific. Besides, the need for corporate wellness programs in the region due to the awareness regarding employees' health management is another critical factor that fuelled the growth of the target market in the area.
Notable companies profiled in the report's Global Corporate Wellness Market are EXOS, Wellness Corporate Solutions, ComPsych, Provant Health Solutions, Virgin Pulse, Marino Wellness, Vitality Group, Wellsource, and Central Corporate Wellness.
By Service Type
By Category
By End User
By Region
Frequently Asked Questions
As per our research report, the global corporate wellness market size is estimated to be worth USD 83.33 billion by 2029.
Yes, in this report, the COVID-19 impact on the global corporate wellness market is included.
Geographically, the North American regional market dominated the corporate wellness market in 2023.
EXOS, Wellness Corporate Solutions, ComPsych, Provant Health Solutions, Virgin Pulse, Marino Wellness, Vitality Group, Wellsource, and Central Corporate Wellness are some of the noteworthy companies operating in the global corporate wellness market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region