Corporate Wellness Market Research Report Information by Service (Health Risk Assessment, Fitness, Smoking Cessation, Biometric Screening, Nutrition & Weight Management, Stress Management, Alcohol & Drug Abuse Services, and Others), by Category (Fitness & Nutrition Consultants, Psychological Therapists, and Organizations), by End User (Small-Scale Organizations, Medium-Scale Organizations, and Large-Scale Organizations), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa)—Forecast till 2030

Corporate Wellness Market Overview

The corporate wellness market was valued USD 59.4 billion in 2021 and is expected to reach USD 111.4 billion by 2030 at 8.5% CAGR during the forecast period of 2022 to 2030. Corporate wellness is a program that is designed to support employees and their families that promotes a healthy workplace by incorporating various health activities within the daily workreduce to health risks, improve quality of life, and enhance productivity. The market growth of the corporate wellness is attributed to the the increasing investment in digital mental health and stress management programs, rising adoption of wearable technologies & fitness activities, and increasing chronic diseases among corporate employees. However, the concerns about employee’s data breach act as a restraining factor for the market growth. On the other hand, focus on prioritizing employee health and wellbeing in emerging market provides lucrative opportunities for players operating in the global corporate wellness market. 

Impact of COVID-19

The pandemic outbreak disconnected the employees from the official environment. The transition in working culture across the globe from the physical presence to virtual availability led the market players to enhance their offerings to benefit the changed customer's requirements. The viral outbreak impulse corporate wellness providers to adopt communication and digital technology such as cloud applications, online platforms, and remote networking. The wellness service providers are capitalizing on the remote connection by conducting virtual workouts and exercises. In addition, the corporate wellness service and solution providers are organizing social events and group workouts on the social platform. For instance, companies such as Wellness Corporate Solutions (US) transformed their way of service delivery to onsite screening support. The company launched two new screening service product offering that includes stay at work and return to work. However, the COVID-19 led to a financial crisis for the companies, and a large number of layoffs were observed. These organizations also look to cut down the operational and additional costs to pay their employees' salaries. This included the cancellation of the wellness programs subscription. Hence the market faced a mixed impact due to the COVID-19 outbreak.

Corporate Wellness Market Dynamics

Drivers

• Increasing investment in mental health and stress management programs

The rising professional struggle among the employees to perform better than their colleagues, deliver on or before deadlines, minimize budgets and enhance sales are a few factors that cause stress among the employees. These factors cause mental health issues and stress among the employees that affect their health and overall productivity. According to the American Institute of Stress, the major cause for stress includes lack of job security, juggling work, people issues, and workload. In addition, about 80% of the American employees feel stressed on the job, among which 62% of the employees end their day with neck-related issues, and 34% of the employees develop insomnia characteristics due to a high level of stress at the workplace. Moreover, the emergence of wellness challenges such as self-care challenge, meditation challenge, breathing challenge, and walking challenges are a few measures taken by organizations to deal with stressful situations.

• Rising adoption of wearable devices, technologies and fitness activities


• Increasing chronic diseases among corporate employees

Restraints

• Concerns pertaining to employee’s data breach

Healthcare data breaches are the new trend among hackers. Corporate wellness programs are not excluded from concerns related to data privacy. The employees participating in the wellness programs share their personal data and health-related information. In addition, fitness trackers and other digital gadgets are more prone to hacking since these devices have minimum data security features and can be tracked by cybercriminals. However, the corporate wellness providers are more concerned about their customers and are collaborating with cybersecurity companies to prevent the breach of their customer's personal and medical information.

Opportunity

• Increasing focus on employee health and wellbeing in emerging market

Companies in developing countries have started prioritizing nurturing employee wellbeing like in developed countries in order to develop better workplace resilience. Corporate wellness companies provide employees with wellbeing benefits such as free online counseling sessions and meditation apps to help employees enhance physical, emotional, and financial wellbeing. Such increased focus on employee health and wellbeing is expected to open new avenues for the growth of the corporate wellness market

Supply Chain Analysis

The global market of corporate wellness is projected to exhibit significant growth over the forecast period, which can be attributed to factors such as the deployment of highly experienced trainers, better fitness facilities, and increasing health awareness among corporate employees. The value chain analysis for the corporate wellness market comprises four major components: customer acquisition, service customization, customer purchase support, customer fulfillment, and post-purchase support.

In the customer acquisition stage, the market players define the cost of the services and the unique proposition of the company. In service customization process, the provider discusses the requirement of the customer and the service packages offered by the company. In customer purchase support, the providers help the customers get through the payment procedure by explaining the mode of payments they can use to pay for the services. In customer fulfilment & post-purchase support. the providers make sure that the customers receive the services they demanded.

Corporate Wellness Market Segment Overview:

The global corporate wellness market is segmented into service, category, and end user.  

Service Insights

• Health Risk Assessment

Health risk assessment services are provided to organizations to help discover health trends impacting their employee population and measure progress year-over-year. Health risk assessments include a set of questions designed to identify employee health and quality of life at the workplace.

• Fitness

Fitness services include physical activity or exercises offered as a part of service by the providers to guide the employees to attain physical fitness. This usually involves onsite/online fitness instructors to deliver classes engaging employees with physical activity via various activities such as Zumba, Pilates, Yoga, Boxing, Cardio Kickboxing, and more.

• Smoking Cessation

According to CDC, smokers are more likely than nonsmokers to develop heart disease, stroke, and lung cancer. Moreover, smoking affects overall health and results in increased absenteeism from work. Smoking cessation is one of the key programs offered by the service providers and increasing awareness for smoking cessation programs is driving the demand for the global corporate wellness market.

• Biometric Screening

Health screening and biometric screening services help employees to build awareness of health risks and provide valuable information. Health screening services provide several health tests such as blood pressure, cholesterol and glucose tests, BMI tests, waist circumference measurements, fitness testing, skin screening, and body fat screening

• Nutrition & Weight Management

There is a global rise in obesity due to an increased intake of energy-dense foods high in fat and sugars and an increase in physical inactivity due to the increasingly sedentary lifestyle. Nutrition and weight management services educate and encourage the workforce to improve their nutrition and develop healthier eating habits to prevent or manage health issues

• Stress Management

Stress management programs are designed to promote overall workplace wellbeing and prevent and reduce workplace stress with the help of tools such as educational resources, company policies, digital programs delivered through an app or wellbeing platform, and management training.

• Alcohol & Drug Abuse Services

Alcohol and drug abuse can affect general health and wellbeing. It may further adversely influence performance at work. Alcohol and drug abuse services equip employers and employees with the necessary tools to prevent and control alcohol and drug abuse.

• Other Services

Other services include health talks, vaccination programs, pharmacy care services, and financial services.

Category Insights

• Fitness & Nutrition Consultants

Fitness & nutrition consultants are licensed nutritionists who consult individuals, private companies, and public health organizations about health and diet plans. The consultants analyze the client’s diet plan and suggest changes in food intake patterns to achieve the wellness goals such as disease treatment and weight management.

• Psychological Therapists

Psychological therapists offer guidance related to mental health and emotional wellness. Moreover, the therapists assist individuals in resolving the problems related to job loss, stress, relationships, anxiety, depression, domestic violence, grief, negative life events, bereavement, physical abuse, and other mental health disorders. Psychologists can be further categorized into clinical, counseling, and industrial-organizational.

• Organizations

Corporate wellness programs are designed to motivate employees in the organizations by providing various solutions such as health risk assessment, fitness, smoking cessation, biometric screening, nutrition & weight management, stress management, alcohol & drug abuse services, and other services which can improve their physical and mental health.

End User Insights

• Small-Scale Organizations
  
  
  
  • Small scale organizations can be defined as companies with 1-100 employees working in them.
  
  
  
  


• Medium-Scale Organizations
  
  
  
  • Medium-scale organizations can be defined as companies with 100-500 employees.
  
  
  
  


• Large-Scale Organizations
  
  
  
  • Large-scale organizations can be defined as companies with more than 500 employees.
  
  
  
  

Regional Analysis

• The global corporate wellness market is segmented on the basis of four regions: Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Americas

• The Americas dominated the global market of corporate wellness over the recent past and is forecasted to continue doing so during the forecast period. This can be attributed to factors such as high awareness for mental health and work stress, increasing popularity of workplace wellness, high healthcare expenditure, and the presence of the leading players in the region.


• People in the region are health conscious, which further supports the growth of corporate wellness market. In addition, as the general working population in the region is ageing, there is an imperative need for corporate wellness programs to address age-related health problems to the ageing working population. Moreover, increasing government support for the adoption of workplace wellness have fueled the market growth in the region.

Europe

• Europe is projected to exhibit significant growth during the forecast period due to increasing awareness for mental well-being, high healthcare expenditure, increasing prevalence of chronic diseases, and increasing government initiatives in the region. Furthermore, increasing number of start-ups for corporate wellness further drives the growth of the market. In last few years several startups have emerged from the region. Some of the key startup companies are Levell, BlueCall, Lifesum, The Holistic Concept, Timely App, Fika, Tomo, and Healthy Workers. Furthermore, increasing government initiatives such as Council Directive 89/391/EEC on the introduction of measures to encourage improvements in the safety and health of workers at work further fuels the market growth in the region.

Asia-Pacific

• The Asia-Pacific is the fastest growing market of the corporate wellness market as result of rapidly changing healthcare sector and presence of huge opportunities for the development of this market. Asia has one of the highest working populations. In the recent years, owing to the globalization, there has been a rapid economic growth in Asia. However, in terms of health and wellness of workers, there has been very little improvement. A vast majority of the working population undergoes lot of stress owing to job insecurities, financial stress, long working hours and widespread workforce disengagement. In contrast, owing to increasing awareness for mental health and other benefits offered by such services such managing health care costs, improving employee morale, recruitment, and retention, and increasing productivity, there has been an increasing adoption of the services among the organizations.

Middle East & Africa

• The Middle East & Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region. However, in the Middle East & Africa there have been significant improvement in economic performance because of increasing working population and development in the region. The Middle East region is the major contributor to the regional market owing to the increasing government and insurer initiatives to promote wellness of worker population, increasing prevalence of chronic disease, and shifting focus onto employee satisfaction and engagement.

Competitive Landscape

• The global corporate wellness market is distinguished by the presence of numerous global, regional, and local players catering to technological advancements in instrumentation, government investment in academic and life sciences, and growth in generics and CROs. An increasing investment in mental health and stress management programs is making the market of corporate wellness more lucrative. The major players have adopted a strategy of signing contracts and agreements to broaden their reach. For instance, in May 2021, Bassett Healthcare Network (US) and Optum (US) announced a strategic collaboration to further enhance Bassett's clinical and operational performance, and advance the delivery of high-quality, convenient, and affordable health care for patients across Central New York. The global market of corporate wellness is extremely competitive, with players competing and partnering to gain significant market share. The market is moderately fragmented with rising competition, product launches, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency. 

Key Players

• The prominent players in the global corporate wellness market are ComPsych Corporation (US), Wellness Corporate Solutions (US), Virgin Pulse (US), Privia Health (US), UnitedHealth Group (US), Quest Diagnostics (US), EXOS (US), Central Corporate Wellness (Singapore), Sodexo (France), Vitality Group International, Inc. (US), among others.

Recent Developments

• In May 2020, Sodexo (France) launched "rise with Sodexo," a program intended for its clients to meet the health, operational, and confidence challenges as a result of the worldwide global COVID-19 pandemic


• In May 2021, Bassett Healthcare Network (US) and Optum (US) announced a strategic collaboration to enhance Bassett's clinical and operational performance further and advance the delivery of high-quality, convenient, and affordable health care for patients across Central New York.


• In May 2018, Wellness Corporate Solutions (US), launched WellConnect Plus, an upgraded employee wellness portal for 2018. WellConnect Plus helps participants to take advantage of screenings, flu shots, and health coaching.


• In February 2018, Vitality Group launched Gateway (US), a program designed to integrate strategic partners across the broader health ecosystem to connect employees to meaningful resources to improve their health. Seven leading health companies collaborated with Vitality: Headspace (US), Happify Health (US), Vida Health (US), Zipongo (US), eHealthScreenings (US), U.S. Preventive Medicine (US), and Wellness Corporate Solutions (US).

Report Overview

• The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in Americas, Europe, Asia-Pacific, and the Middle East & Africa. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, value chain, and impact of COVID-19 on the market.

Corporate Wellness Market Segmentation

Corporate wellness Service Outlook

• Health risk assessment


• Fitness


• Smoking cessation


• Biometric screening


• Nutrition & weight management


• Stress management


• Alcohol & drug abuse services


• Other services

Corporate wellness Category Outlook

• Fitness & nutrition consultants


• Psychological therapists


• Organizations

Corporate wellness End User Outlook

• Small-scale organizations


• Medium-scale organizations


• Large-scale organizations

Corporate wellness Region Outlook

• Americas
  
  
  
  • North America
    
    
    
    • US
    
    
    • Canada
    
    
    
    
  
  
  • Latin America
  
  
  
  


• Europe
  
  
  
  • Western Europe
    
    
    
    • Germany
    
    
    • France
    
    
    • UK
    
    
    • Italy
    
    
    • Spain
    
    
    • Rest of Western Europe
    
    
    
    
  
  
  • Eastern Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • Japan
  
  
  • China
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East
  
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Intended Audience

• Corporate wellness Service Providers


• Healthcare IT Companies


• Hospitals


• Health coach


• E-Health Companies

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 111.4 Billion
CAGR	8.5%
Base Year	2021
Forecast Period	2022-2030
Historical Data	2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Service, Category, End User, and Region
Geographies Covered	Americas, Europe, Asia-Pacific, Middle East & Africa
Key Vendors	ComPsych Corporation (US), Wellness Corporate Solutions (US), Virgin Pulse (US), Privia Health (US), UnitedHealth Group (US), Quest Diagnostics (US), EXOS (US), Central Corporate Wellness (Singapore), Sodexo (France), and Vitality Group International, Inc. (US)
Key Market Opportunities	• Increasing focus on employee health and wellbeing in emerging market
Key Market Drivers	• Increasing investment in mental health and stress management programs • Rising adoption of wearable technologies and fitness activities • Increasing chronic diseases among corporate employees

 

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