Global Corporate Wellness Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Corporate Wellness Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Workplace wellness is a policy of workplace health promotion activities or organizations aimed at supporting healthy behaviors in the workplace and improving health outcomes. Workplace health is called corporate benefits and usually includes activities such as health education, health checks, weight management programs, on-site fitness programs, and facilities.

Market Overview:

The latest research study on the global Corporate Wellness market finds that the global Corporate Wellness market reached a value of USD 60886.51 million in 2022. It’s expected that the market will achieve USD 97290.0 million by 2028, exhibiting a CAGR of 8.12% during the forecast period.

Enterprise health virtualization

Due to COVID-19, many companies must change their health plans. During the pandemic, the company will provide free fitness videos, happy hours and game nights for virtual teams, on-demand online seminars and fitness classes with various partners and the following, face-to-face meetings on mental health and wellness, and programming. For example, Citi Group (Citi) provides special rewards to more than 75,000 colleagues around the world to help eliminate the economic burden of the epidemic. At the end of the year, their team of health and wellness experts will provide a variety of virtual activities and resources to help employees and their families stay basic and healthy, including online fitness classes, virtual personal training, meditation, breathing exercises, and more.

Focus on mental health services

In April 2020, a survey by the Kaiser Family Foundation found that nearly half of people in the United States felt that the coronavirus had harmed their mental health.
The company’s healthy future must address mental health issues in the same way that nutrition, health, and chronic diseases (such as diabetes and high blood pressure) are dealt with. The first step is to encourage open and honest communication about mental health and provide training to managers so that they can spot problems and respond appropriately. Employers can take many other steps, including educating employees about the benefits provided through their Employee Assistance Program (EAP) and health plans, and developing plans that focus on mental and emotional health. Providing resources and advice to all employees will improve quality and create happier and healthier employees.

Economic Factors

Material demand brought about by the improvement of the economic level. Today, with the development of economic globalization, the overall global economic level is rising rapidly. The improvement of the economic level will inevitably bring about people's massive demand for materials. Compared with the relatively mainstream developed countries in many developing countries, the medical and service industries are still unable to meet the increasing needs of people, which brings opportunities for the development of the workplace health plan industry.
In the current capital market, the idle funds in the society have gradually transferred to the health industry. The injection of funds has brought more vitality to the workplace health plan industry to a large extent, thus becoming a workplace health. A big boost to the development of the planned industry. In addition, the workplace health plan provides a corporate health care solution that goes beyond traditional health care plans. It can cultivate healthy habits and improve health status of the employee group, while increasing productivity, optimizing human resource investment and promoting employee engagement.

Social Factors

The popularization of knowledge brings about changes in concepts. With the improvement of people's knowledge level, the popularization of knowledge and the in-depth research of high-end issues in the current era, the improvement of people's health literacy has made more and more people start to pay attention to their own health problems, which has brought about Substantial demand. The change of concept brings about changes in consumer consumption and investment preferences, which in turn affects the development of the health industry. In addition, many chronic diseases can be prevented. Implementing a holistic approach to the company's health plan is an effective way to educate employees on the importance of healthy habits and the benefits of adhering to health goals. In turn, employers are expanding their approach to health planning from an approach that suits everyone to corporate health plans for individuals. In order to support the happy lives of employees, employers are looking for products and services that operate in this common direction.

Region Overview:

In 2022, the share of the Corporate Wellness market in North America stood at 40.05%.

Company Overview:

ComPsych is one of the major players operating in the Corporate Wellness market, holding a share of 13.77% in 2023.

ComPsych

ComPsych is the world's largest provider of employee assistance programs (EAP), a pioneer and global leader in fully integrated EAP, behavioral health, wellness, work and life, HR, FMLA, and absence management services under its Guidance Resources ® brand.

Beacon Health Options

Beacon's system is people-centered and built on a strong support structure of doctors, nurses, therapists, advocates and instructors to meet the behavior, physical and social health needs of members.

Segmentation Overview:

As for product types, the Health Screening segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Large Scale Organizations, with a market share of 54.33% in 2022.

Key Companies in the global Corporate Wellness market covered in Chapter 3:

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

In Chapter 4 and Chapter 14.2, on the basis of types, the Corporate Wellness market from 2018 to 2029 is primarily split into:

Health Risk Assessment
Fitness
Smoking Cessation
Health Screening
Nutrition & Weight Management
Stress Management
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Corporate Wellness market from 2018 to 2029 covers:

Small Scale Organizations
Medium Scale Organizations
Large Scale Organizations

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)