Global Corporate Wellness Market Size To Exceed USD 88.4 Billion By 2032 | CAGR of 4.6%

The Global Corporate Wellness Market Size was valued at USD 56.4 Billion in 2022 and the Worldwide Corporate Wellness Market Size is expected to reach USD 88.4 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: ComPsych Corporation, Privia Health, Virgin Pulse, EXOS, Marino Wellness, Vitality, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, Wellness Corporate Solutions, SOL Wellness and Other Key Vendors.

New York, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) — The Global Corporate Wellness Market Size is to Grow from USD 56.4 Billion in 2022 to USD 88.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.6% during the projected period.

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The market refers to the industry focused on promoting and improving employee health and well-being in organizations. It includes a wide range of wellness programs and initiatives aimed at improving the workforce’s physical, mental, and emotional health. Corporate wellness services include health risk assessments, fitness and nutrition programs, stress management workshops, mental health support, and ergonomic workplace solutions. The rising prevalence of lifestyle-related diseases such as obesity, diabetes, and stress-related disorders has increased the need for preventive health measures, fueling demand for the corporate wellness market over the forecast period. Corporate wellness programs are increasingly being implemented by businesses to improve employee health and productivity, reduce health risks, and reduce employee healthcare costs. Companies are becoming more aware of the value of a mentally and physically healthy workforce. Corporations have increased their investments in employee wellness programs, solutions, and services as a result. Furthermore, rising chronic disease prevalence and early onset, as well as lower employee healthcare costs, are driving market growth. However, despite an increase in workplace wellness program adoption, implementing corporate wellness programs in low- and middle-income countries poses several challenges.

COVID-19 Impact
During the COVID-19 pandemic, the global market experienced a decrease in demand. Traditional workplace wellness activities such as fitness classes, gym membership, health screening activities, and others cost a significant amount of money. Many of these activities were limited during the pandemic due to the implementation of strict lockdown restrictions. Furthermore, as a result of the COVID-19 pandemic, companies shifted to low-cost online platforms for providing workplace wellness as a cost-cutting measure.

Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the “Global Corporate Wellness Market Size, Share, and COVID-19 Impact Analysis, By Services (Health Risk Assessment, Smoking Cessation, Fitness, Weight/Nutrition Management, Stress Management, Others), By Delivery Model (Onsite, Virtual), By End User (Small-sized Organizations, Medium-sized Organizations, Large Organizations), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032″.

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The health risk assessment segment is expected to hold the biggest share of the global corporate wellness market during the forecast period.
Based on the services, the global corporate wellness market is classified into health risk assessment, smoking cessation, fitness, weight/nutrition management, stress management, and others. Among these, the health risk assessment segment is expected to hold the biggest share of the corporate wellness market during the forecast period. Corporate employee health programs mainly consist of health risk identification screening activities and the implementation of appropriate measures to encourage employees to live healthy lifestyles.

The virtual segment is witnessing significant CAGR growth over the forecast period.
Based on the delivery model, the corporate wellness market is segmented into onsite and virtual. Among these, the virtual segment holds the significant CAGR growth over the forecast period. The pandemic of COVID-19 shifted the preference toward virtual workplace wellness, increasing employer adoption for improving employee efficiency.

The large organizations segment is witnessing substantial CAGR growth over the forecast period.
Based on the end user, the corporate wellness market is segmented into small-sized organizations, medium-sized organizations, and large organizations. Among these, the large organizations segment holds the market with substantial CAGR growth over the forecast period. The rising investment by companies in wellness programs for their employees is one of the key factors supporting the segment growth. During the forecast period, there is a growing awareness among large organizations and employers to incorporate wellness programs to improve team member’s work efficiency and work culture.

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North America will have the largest market share during the forecast period.

North America is dominating the market share over the forecast period. Employees’ shifting preferences toward companies with workplace wellness programs, increased employee adoption of these programs to improve employee engagement and reduce absenteeism, company launches of new workplace wellness programs, and other factors are expected to drive market growth in the North American region. Furthermore, roughly half of employers in the United States offer wellness programs to their employees, according to the RAND employer survey.

Europe corporate wellness market accounts for the second-largest market share during the forecast period. The increasing number of initiatives launched in the region to promote workplace wellness is a significant factor driving market growth.

Asia Pacific corporate wellness market is expected to grow at the highest CAGR during the forecast period. An increase in the number of companies in the APAC region, increased employee awareness of workplace wellness, and increased adoption of these services by employers to reduce work-related health problems are some of the factors contributing to regional growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Corporate Wellness market include ComPsych Corporation, Privia Health, Virgin Pulse, EXOS, Marino Wellness, Vitality, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, Wellness Corporate Solutions, SOL Wellness and among others.

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Recent Developments

  • In June 2023, Virgin Pulse expanded its partnership with Headspace to offer affordable mental health services to employers and employees.

Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global corporate wellness market based on the below-mentioned segments:

Corporate Wellness Market, Services Analysis

  • Health Risk Assessment
  • Smoking Cessation
  • Fitness
  • Weight/Nutrition Management
  • Stress Management
  • Others

Corporate Wellness Market, Delivery Model Analysis

  • Onsite
  • Virtual

Corporate Wellness Market, End User Analysis

  • Small-sized Organizations
  • Medium-sized Organizations
  • Large Organizations

Corporate Wellness Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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