Global Corporate Wellness Market to be Worth USD 61.95 Bn by 2023
Research On Global Markets has announced the addition of a market research report titled "Global Corporate Wellness Market (2018-2023)" to their offering. According to the Research On Global Markets analysts, the global corporate wellness market is expected to expand at a CAGR of 4.95%, and will reach a value of USD 61.95 Bn by 2023, from USD 48.66 Bn in 2018. Growing incidence of lifestyle related diseases among employees, owing to hectic work, long hours, and unhealthy eating habits, is creating a huge demand for corporate wellness programs across the world.
The report published by Research On Global Markets features comprehensive analysis of the global corporate wellness market segment based on service type and end-user. Based on the service type, the health risk assessment segment held the highest market share of 46.56% in 2018, owing to higher incidence of chronic diseases, improved awareness among employers to keep their employees healthy, and higher spending on healthcare by employers. This segment was followed by the stress management segment, which held a market share of 28.57% in 2018. This was on account of higher stress, anxiety, and depression among employees.
Based on end user, the market is segmented into large-scale, medium-scale and small-scale organizations. Large-scale organizations held the highest market share (42.1%) in 2018, and will continue to expand at a CAGR of 3.99% during the forecasted period, owing to the adoption of new technologies, and increasing expenditure on employees’ well-being.
The market research report tracks the performance of the global corporate wellness market across the key geographies of North America, Europe, Latin America, Asia-Pacific, the Middle East and Africa. North America accounted for the highest market share (37.42%) in 2018, and is expected to expand at a CAGR of 4.98% during the forecasted period, owing to factors like high occurrence of lifestyle associated diseases, adoption of premium wellness services and programs, and favorable government policies.
Research On Global Markets tracks the performance of some of the major players operating in the global corporate wellness market including Virgin Pulse, ComPsych Corporation, Vitality, Quest Diagnostics Health & Wellness, Interactive Health, BurnAlong, FitBliss, IncentFit, and Training Amigo, among others.
Some of the key topics covered in this report are:
- Global market revenue – (2015–2017) (USD Bn)
- Global forecast market revenue – (2018–2023) (USD Bn)
- Geography-wise market revenue – (2018, 2023) (USD Bn)
- Global Corporate Wellness Market – Based on Service Type
- Global Corporate Wellness Market – Based on End User
- Global Corporate Wellness Market – Based on Regions
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for corporate wellness programs across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.