According to the new market research report by IndustryARC titled “Corporate Wellness by Service (Nutrition and Weight Management, Fitness Services, Stress Management, Smoking
Cessation, Others); By Category (Fitness &Nutrition Consultants, Psychological Therapists &Organizations); By End-User (Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations) & Geography – Forecast (2018-2023)”, the market is driven by the growing industrialization in developing countries and rising incidences of hypertension.
North America dominates the Corporate Wellness Market during the forecast period
North America has a major share in the Corporate Wellness Market followed by Europe. US is expected to reach $20.1 billion at a CAGR of 4.5%. In the US, instances of work related stress and illness of employees is driving the regional market. Wellness programs such as immunizations, flu shots, health fitness appraisal, and membership discount at gym/fitness clubs are used by the employees in the US to encourage employees in these programs. The implementation of the wellness programs in the US is also increasing due to the encouragement of the U.S. Affordable Care Act to adopt employee sponsored wellness programs. In the UK, the employees abstain from work due to health issues such as anxiety and depression. This factor drives the demand for corporate wellness in the UK.
Selected Analysis done in the Corporate Wellness Market Report:
Nutrition and weight Management reached a revenue of $7.12 billion in 2017. It will reach $10.56 billion at a CAGR of 5.8% by 2023. . Fitness services reached a revenue of $8.28 billion in 2017. It is expected to reach $12.68 billion at a CAGR of 6.3% by 2023..Workplace wellness nutrition programs can reach many employees and address multiple issues. These concepts can bring employees together and help them support each other in making better choices. Popular programs cover different topics such as stress, balanced moods, weight loss, menopause, etc. Educational handouts are also provided to the employees which contain information on nutrition programs such as recipes and meal ideas. Speakers can advise employees with practical tips on how to make good nutritional choices. Nutrition plays an important role in reducing most cancers. Eating nutritious food is the best defense in fighting cancer and is important for cancer treatment and recovery.
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Excerpts on Corporate Wellness Market Growth Factors
• Growing industrialization in developing nations will enhance the growth of the Corporate Wellness Market in the coming years.
• Increasing incidences of hypertension, obesity, depression, diabetes and cardiovascular diseases will drive the demand for corporate wellness.
• Increasing government initiatives to implement wellness programs for employees spurs the growth of Corporate Wellness Market.
• Increasing healthcare costs and discounts offered to employees participating in the wellness program drive the demand for corporate wellness.
Key players of the Corporate Wellness Market
Marino Wellness, EXOS, Wellness Corporate Solutions are the key players of the Corporate Wellness Market. Marino Wellness provides services such as office massage and office fitness. In office massage, an on-site short format chair massage is provided to reduce stress and increase energy. In office fitness, physical activity is provided in the office through yoga, boot camp, etc. Exos offers a performance kiosk that is a compatible mobile design system. This system can adapt to different environments. It helps employees to reduce pain and improve posture.
Corporate Wellness Market is segmented as below
Growing instance of work related stress and illness of employees drive the demand for Corporate Wellness Market.
A. Corporate Wellness Market By Service
2. Nutrition and Weight Management
3. Fitness Services
4. Health Risk Assessments (HRAs)
5. Stress Management
6. Smoking Cessation
7. Alcohol and Drug Abuse Services
8. Health Education Services
B. Corporate Wellness Market By Category
2. Fitness and Nutrition Consultants
3. Psychological Therapists
C. Corporate Wellness Market By End User
2. Small Scale Organizations
3. Medium Scale Organizations
4. Large Scale Organizations
D. Corporate Wellness Market by Geography (covers 13+ countries)
E. Corporate Wellness Market Entropy
F. Companies Citied / Interviewed
1. ADURO, Inc.
2. BEACON HEALTH OPTIONS.
3. COMPSYCH CORPORATION
5. FITBIT, INC.
6. KINEMA FITNESS INC
7. MARINO WELLNESS
8. PROVANT HEALTH SOLUTIONS, LLC
9. TOTALWELLNESS HEALTH
10. Company 10+
What can you expect from the report?
The Corporate Wellness Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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