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Corporate Wellness Solutions Market by Service - Global Forecast to 2026

Corporate Wellness Solutions Market by Service - Global Forecast to 2026

  • June 2021
  • 225 pages
  • ID: 6097871
  • Format: PDF
  • MarketsandMarkets

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The corporate wellness solutions market is projected to reach USD 94.6 billion by 2026 from USD 61.2 billion in 2021, at a CAGR of 9.1%. Growth in the market is driven by rising adoption of corporate wellness programs by employers, increased uptake of technology-powered corporate wellness solutions and substantial burden of chronic lifestyle diseases and mental health issues in organizations. However, the dearth of skilled professionals required to support corporate wellness programs could restrain the growth of the market.

The health risk assessment segment holds the highest market share, by service offering, in the corporate wellness solutions market, in the forecast period.
On the basis of service offering, the corporate wellness solutions market is broadly segmented into health risk assessment, nutrition and weight management, smoking cessation, fitness services, biometric screening, alcohol/substance abuse services, mental/behavioral health management, health education services, virtual consultation/virtual care, employee assistance programs, and health benefits programs.
The large share of this segment can be attributed to the utility of this service for early identification and mitigation health risks in employees, to reduce absenteeism due to health conditions, and lower healthcare costs. Moreover, favorable policies in certain countries mandating health risk assessment and screening is responsible for the high adoption of this segment.
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The small-sized organizations segment to grow at the highest CAGR in the corporate wellness solutions market, in the forecast period.
Based on end user, the corporate wellness solutions market is broadly segmented into large, medium-sized, and small organizations.The small organizations segment is projected to grow at the highest CAGR during the forecast period.

Growth in this segment is largely driven by the growing use of corporate wellness programs by these organizations due to the rising affordability and favorable payment models for small businesses.

North America holds the largest share in the corporate wellness solutions market, by region, in the forecast period
The corporate wellness solutions market is segmented into North America, Europe, Asia Pacific, and Rest of the World.North America accounted for the largest share in the corporate wellness solutions market in 2020.

The large share of this regional segment can be attributed to the rising need for corporate wellness solutions for employees due to the rising prevalence of chronic conditions, mental health issues, and substance abuse and the growing need to reduce healthcare expenditure.
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A breakdown of the primary participants for the corporate wellness solutions market referred to for this report is provided below:
• By Company Type: Tier 1–40%, Tier 2–38%, and Tier 3–22%
• By Designation: C-level–40%, Director Level–35%, and Others–25%
• By Region: North America–39%, Europe–28%, Asia Pacific–22%, Rest of the World – 11%

The prominent players in the global corporate wellness solutions market are ComPsych Corporation (US), LifeWorks, Inc. (Canada), UnitedHealth Group (Optum) (US), Anthem, Inc. (US), Workplace Options (US), Cerner Corporation (US), Centene Corporation (US), TELUS (Canada), Cleveland Clinic (US), Wellright (US), Virgin Group Ltd. (US), CVS Health Corporation (US), Alphabet Inc. (Fitbit) (US), Discovery Limited (Vitality Group) (South Africa), EXOS (US), Laboratory Corporation of American Holdings (US), Sharecare (US), Gilsbar (US), Medcan Clinic (Canada), Limeade (US), Aduro, Inc. (US), TotalWellness (US), Wellsteps (US), Corporate Fitness Works (US), and WellWorks For You (US).

Research Coverage:
The report analyzes the market for various corporate wellness solutions and their adoption pattern.It aims at estimating the market size and future growth potential of the corporate wellness solutions and different segments such as service offering, end user and region.

The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global corporate wellness solutions market.
• Product Development/Innovation: Detailed insights on the upcoming trend, and service launches in the global corporate wellness solutions market.
• Market Development: Comprehensive information on the lucrative emerging regions by service offering, end user, and region.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global corporate wellness solutions market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of leading players in the global corporate wellness solutions market.

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