Global Workplace Wellness Market Forecast 2023-2032

Global Workplace Wellness Market Forecast 2023-2032

KEY FINDINGS

The global workplace wellness market is forecasted to grow with a CAGR of 6.57% in terms of revenue during the forecast years 2023 to 2032. The market’s growth is accredited to major drivers, such as the shift towards remote work and flexible work arrangements, increasing investments in preventive care leading to reduced healthcare costs, and lower employee productivity due to the prevalence of chronic diseases.

MARKET INSIGHTS

Promoting healthy behaviors and enhancing health outcomes among employees is a crucial component of workplace wellness. This encompasses a wide array of initiatives, including hosting health education events and fairs, encouraging weight loss, organizing company wellness challenges, providing stress management support, offering complimentary medical screenings, delivering health coaching, implementing programs to quit smoking, granting access to health club memberships, furnishing on-site kitchens with healthy food choices, sharing wellness updates, setting up on-site fitness programs and facilities, utilizing mobile and web-based platforms for education and social interaction, and offering various incentives.

According to a 2021 survey, 57% of American workers experience stress. Similarly, globally, almost 43% of employees undergo persistent stress, with North America hosting a higher number of individuals facing pressure. The primary sources of employee stress include tight deadlines, substantial workloads, the struggle to maintain a healthy work-life balance, and elevated expectations from supervisors. Moreover, many workers reported significant changes post the COVID-19 pandemic, such as transitioning to remote work and company closures.

REGIONAL INSIGHTS

The global workplace wellness market growth is assessed by evaluating the Asia-Pacific, Europe, North America, and Rest of World. North America is projected to capture the largest market share of 39.72% by 2032, owing to key factors such as a significant rise in health and wellness expenditure, increasing work pressure, and the growing importance of stress management.

COMPETITIVE INSIGHTS

The competitive landscape of the market relies significantly on the introduction of innovative products, cost considerations, maintaining customer loyalty, and tailoring flexible services to meet specific individual requirements. Consequently, there is a pronounced level of rivalry within the industry.

Some of the top companies operating in the market are Optum Inc, Privia Health LLC, Quest Diagnostics, Virgin Pulse Inc, Novant Health, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments