Rising Awareness Regarding Employee Health And Wellbeing Stoke The Growth Of Corporate Wellness Market

San Francisco, Calif., USA, July 29, 2022 — /EPR Network/ —

Corporate Wellness Industry Overview

The global corporate wellness market size is expected to reach USD 93.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. The rising obese and overweight population increases insurance costs that account for the financial burden on employers. The corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating, and lack of exercise.

Corporate Wellness Market Segmentation

Grand View Research has segmented the global corporate wellness market on the basis of service, end-use, category, delivery model, and region:

Based on the Service Insights, the market is segmented into Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others.

• The health risk assessment segment dominated the market for corporate wellness and accounted for the largest revenue share of 21.1% in 2020.
• The stress management segment is likely to showcase the fastest growth rate from 2021 to 2028, owing to the rising preference for on-site yoga and meditation services

Based on the End-Use Insights, the market is segmented into Small Scale Organizations, Medium Scale Organizations, and Large Scale Organizations.

• The large-scale organizations dominated the end-use segment and accounted for the largest revenue share of 52.8% in 2020. 
• Larger organizations can incorporate programs and services into their company’s infrastructure. Small-scale organizations can benefit from corporate memberships and outsourcing the services.

Based on the Category Insights, the market is segmented into Fitness & Nutrition Consultants, Psychological Therapists, and Organizations/Employers.

• In the category segment, organizations dominated the market and accounted for the largest revenue share of 50.3% in 2020.
• The service providers offer in-house as well as outsourced health management services for large as well as small-scale corporations.
• The trend of on-site fitness, which includes yoga and meditation, is becoming popular. Therefore, the stress management segment is anticipated to witness the fastest growth from 2021 to 2028.

Based on the Delivery Model Insights, the market is segmented into Onsite and Offsite.

• Onsite corporate wellness programs dominated the delivery model segment and accounted for the largest revenue share of more than 57% in 2020. The segment is anticipated to witness a high growth rate over the forecast period.
• Onsite wellness initiatives provide a personal touch to employee wellbeing, along with the facilities to exercise under the guidance of fitness consultants and coaches to meet their personal health needs.

Corporate Wellness Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by the increase in many corporations focusing on expansion to include in-house corporate wellness services. In the U.S., there are more than 550 organizations offering employee wellness programs. Some of the market players are expanding in order to accommodate and cater to larger groups of employees. 

Some prominent players in the Global Corporate Wellness market include:

• ComPsych
• Wellness Corporate Solutions
• Virgin Pulse
• Provant Health Solutions
• EXOS
• Marino Wellness
• Privia Health
• Vitality Group
• Wellsource, Inc.
• Central Corporate Wellness
• Truworth Wellness
• SOL Wellness
• Well Nation
• ADURO, INC.
• Beacon Health Options
• Fitbit, Inc.

Order a free sample PDF of the Corporate Wellness Market Intelligence Study, published by Grand View Research.