Authored By: Sarah
15 Feb 2022

Corporate Wellness Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025

The corporate wellness market is expected to grow by $ 24.44 billion, accelerating at a CAGR of almost 7.88% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Corporate Wellness Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years. 

  • Market is segmented Application (Health assessments and screenings, Nutrition and fitness, and Others) and Geography (North America, Europe, APAC, South America, and MEA). 
  • 39% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Corporate Wellness Market size. 

Corporate Wellness Market to Grow by $ 24.44 Billion through 2021-2025 | Leading Segments and Market Trends

Corporate Wellness Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

  • Increasing need to combat rising healthcare costs will be a significant factor in driving the growth of the Corporate Wellness Market.
  • Need for improved employee productivity will be instrumental in driving the market growth during the forecast period.
  • Poor engagement level of employees is a hurdle that needs to be crossed on the path to success.

Corporate Wellness Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • British United Provident Association Ltd., Central Wellness, ComPsych Corp., EXOS, Fit Athletic Club LLC, Laboratory Corp. of America Holdings, Sodexo Group, Vitality Group LLC, WebMD Health Services Group Inc., and WorkStride are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

Browse through some of other related market research reports for more insights:

  • Digital Health Market: Technavio research projects the digital health market to grow by $ 380 bn, accelerating at a CAGR of over 25% till 2025.
  • Telehealth Market: Accelerating at a CAGR of over 30.44%, the Global Telehealth market is expected to grow by $ 109.98 bn during the forecast period.
  • Health And Wellness Market: Global health and wellness market will post an incremental growth of $ 1.39 trillion and progressing at a CAGR of 6.29% during the forecast period.
  • Health And Wellness Food Market: The health and wellness food market and it is expected to grow by $ 362.15 bn, accelerating at a CAGR of almost 8.27% during the forecast period.
  • Sexual Wellness Market: Technavio’s Sexual Wellness Market is set to grow by $ 32.02 bn, and the market will be progressing at a CAGR of 10.86% till 2025.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market will accelerate at a CAGR of about 7.88%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 24.44 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Increasing need to combat rising healthcare costs will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    39% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are British United Provident Association Ltd., Central Wellness, ComPsych Corp., EXOS, Fit Athletic Club LLC, Laboratory Corp. of America Holdings, Sodexo Group, Vitality Group LLC, WebMD Health Services Group Inc., and WorkStride

     
  7. What are the market segments covered in this report?
    The market is segmented by Application (Health assessments and screenings, Nutrition and fitness, and Others) and Geography (North America, Europe, APAC, South America, and MEA)

Corporate Wellness Market to Exceed Incremental Growth of USD 25 Billion During 2020-2024 | COVID-19 Drives Shift in Focus to Mental Health and Well-Being

The Global Corporate Wellness Market is expected to grow by USD 25.42 billion, accelerating at a CAGR of nearly 8% during the forecast period. The consumer discretionary industry is expected to witness negative growth as a result of COVID-19, and the impact of the pandemic on the market in focus is expected to remain NEGATIVE in the short term. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. Preview our latest report with COVID-19 Impact Analysis

"The corporate wellness programs in the new normal must focus on mental health in the same manner as they previous ly handled nutrition, fitness, and chronic conditions such as diabetes and heart disease. One of the first steps in this direction will be to encourage open and honest communication around mental health while providing training to managers so they can spot issues and respond appropriately. Employers need to start investing in virtual initiatives that include wellness coaching to improve fitness and other engagement activities that seek to involve employees so they feel more connected, engaged, and productive", says senior research analyst for the Consumer Discretionary Industry at Technavio.

Corporate Wellness Market to Grow by $ 24.44 Billion through 2021-2025 | Leading Segments and Market Trends

Corporate Wellness Market: ApplicationSegment Highlights

  • Application Segmentation: Health assessments and screenings, Nutrition and fitness, and Others
  • Health assessment is an essential prerequisite of a corporate wellness program. An employee health assessment is done by corporate wellness providers to assess the current health status of an employee for understanding his/her medical history and specific needs relating to his/her illness or disease. 
  • Market growth in this segment will be faster than the growth of the market in the nutrition and fitness and others segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the corporate wellness market size.

Corporate Wellness Market: Competitive Analysis

  • The Corporate Wellness Market is fragmented due to the presence of several vendors.
  • Market vendors are focused on market expansion and developing innovative products to cater to the new normal.
  • Athletes Performance Inc., British United Provident Association Ltd., Central Wellness, ComPsych Corp., Fit Athletic Club LLC, Laboratory Corp. of America Holdings, Sodexo Group, Vitality Group LLC, WebMD Health Services Group Inc., and WorkStride are some of the major market participants. Although the Increasing need to combat rising healthcare costs will offer immense growth opportunities, the poor engagement level of employees will challenge the growth of the market participants.

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report 

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