Corporate Wellness Market Analysis | CMI

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CORPORATE WELLNESS MARKET ANALYSIS

• Corporate Wellness Market, by Service (Health
  Risk Assessment, Fitness, Smoking Cessation,
  Health Screening, Nutrition Weight Management,
  Stress Management, and Others), by End User
  (Small-scale Organizations, Medium-scale
  Organizations, and Large-scale Organizations),
  and by Region (North America, Latin America,
  Europe, Asia Pacific, Middle East, and Africa) -
  Size, Share, Outlook, and Opportunity Analysis,
  2019 - 2027
• The global corporate wellness market size was
  valued at US 53,645.7 million in 2018, and is
  expected to exhibit a CAGR of 7.2 over the
  forecast period (20192027).

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Figure 1. Global Corporate Wellness Market Value
(US Mn), by Region, 2018
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Market Drivers

• Increasing incidences of smoking is expected to
  propel growth of the Corporate Wellness Market
• Corporate wellness programs are conducted to keep
  employees healthy, prevent diseases, and increase
  the productivity. Moreover, high prevalence
  smoking and obesity is expected to drive growth
  of the global corporate wellness market during
  the forecast period. According to Institute for
  Health Metrics and Evaluation (IHME), 2017, an
  estimated 6.32 million deaths of smokers were
  reported in 2016 globally. Moreover, according to
  the same source, around 883,930 deaths of second
  hand smokers were reported in 2016 globally
• Moreover, increasing prevalence of obesity
  associated with deskbound lifestyle is expected
  to propel growth of the global corporate wellness
  market over the forecast period. According to the
  World Health Organization (WHO) factsheet,
  February 2018, around 1.9 billion adults aged 18
  years and above were overweight around the world
  in 2016, of which around 650 million were obese.

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Market Restraint

• However, low adoption rate of corporate wellness
  programs by new startups and small corporate
  offices is expected is the major factor hindering
  the market growth.

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Figure 2. Global Corporate Wellness Market Share
(), by Service, 2019 and 2027
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Segment Information

• Increasing risk of diabetes associated with
  deskbound lifestyle in North America is expected
  to bolster the market growth in the region.
• North America holds dominant position in the
  global corporate wellness market, owing to
  increasing risk of diabetes and other diseases
  associated with deskbound lifestyle or physical
  inactivity. According to the Centers for Disease
  Control and Prevention (CDC) report, 2015, around
  30.3 million Americans were diagnosed with
  diabetes in 2015, and around 1.5 million are
  diagnosed with diabetes every year.
• Moreover, increasing employee welfare activities
  in the corporate sector is propelling growth of
  the market. For instance, Accenture, a consultant
  company, offers employee assistance programs to
  provide confidential support for employees
  issues such as stress, substance abuse,
  depression, and anxiety. Furthermore, the company
  provides employees Teladoc services, where they
  can consult a physician for any health-related
  queries 24x7.

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Key Players

• Major players operating in the global corporate
  wellness market include Wellness Corporate
  Solutions, ComPsych Corporation, United Health
  Group, Sodexo, BupaWellness Pty Ltd., Recovre
  Group, Central Corporate Wellness, Truworth
  Wellness, CXA Group Pte. Limited, SOL Wellness,
  ComPsych Corporation, Virgin Pulse, Inc.,
  Interactive Health, Inc., and ConneXions Asia.

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