Corporate Wellness Market Pegged for Robust Expansion During 2019 to 2025
The global market report on Corporate Wellness Market is slated to grow substantially during the forecast period of 2018 to 2023. In 2017, the global market valuation was USD 49.7 billion. Market Research Future (MRFR) included several factors that can promote global market growth. During the forecast period from 2018 to 2023, the global market would rise with a 7% CAGR.
The global market would grow with the rising demand for plans to increase productivity, curbing of healthcare expenditure, growing number of white-collar workers, and others are expected to boost the global market investment. Such projects are expected to inspire morale and the quality of work of people associated with the company. It is also getting boosted by the changing consumption habit, smoking, obesity, and sedentary lifestyle. The rise in private sector Capex is expected to back the global corporate wellness market in the coming days.
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The global report on the corporate wellness market has been studied on the basis of a segmentation that includes the category, service type, and end user. These segments have data supported by facts, figures, graphs, and charts that can help in understanding the market flow and boost procedures of developing strategies.
By service type, the study on the corporate wellness market includes stress management, health risk assessment, health screening, smoking cessation, fitness, nutrition & weight management, and others. In 2017, the health risk assessment segment had the largest market valuation, which has been inspired by the rising adoption of wellness programs that aims to identify health risks and prevent any kind of health risks.
By category, the report on the global understanding of the corporate wellness market has been segmented into psychological therapists, fitness & nutrition consultants, and organizations. The fitness & nutrition consultants segment is expected to make substantial progress in the coming days.
By end user, the study on the corporate wellness market includes medium-scale businesses, small-scale businesses, and large-scale businesses. The large-scale businesses can inspire the market in the coming days.
The global market for corporate wellness has been studied on the basis of regional analysis as well. The Americas is leading the market ahead as their structured system is helping them to plan various actions. Major multinational companies are contributing much to the growth of the market. In Europe, this growth will be substantial as major companies have structured their mainframe with corporate wellness integrated into the model.
Wellness Corporate Solutions, LLC, ComPsych Corporation, Central Corporate Wellness, SOL Wellness, Wellsource, Inc., Virgin Pulse, Marino Wellness, Truworth Health Technologies Pvt. Ltd., The Vitality Group, Inc., EXOS, Privia Health, Sodexo Group, Bupa Wellness Pty Ltd, ProvantHealth (Hooper Holmes, Inc.), and 1to1help.net Pvt. Ltd. are some of the major companies playing big in the global corporate wellness market. These companies have launched various strategic moves to inspire better growth for themselves and influence holistic growth for the market. MRFR recorded all the recent moves implemented by these companies to understand trends that are governing the market or may impact it in the coming days.
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The COVID-29 crisis has led to a drastic change in the corporate wellness culture. Various corporate companies have started exploring opportunities in the market as they want to build their credibility among their employees. Also, they are much stressed about their employees who are fighting in the front lines. These companies have announced packages saying they would cover the bills of their employees if they contract the disease. This has also influenced tie-ups.