Corporate Wellness Market Research Report: By Type (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management), End User (Small-Scale Organizations, Medium-Scale Organizations, Large-Scale Organizations) - Global Industry Revenue Estimation Demand Forecast to 2030

Market Overview

The global corporate wellness market valued around $51 billion in 2020, and it is projected to grow with healthy grow rate during the forecast period (2021–2030). The major factors responsible for the growth of the market include the increasing focus on health and wellbeing, employees seeking wellness perks from companies, and rising prevalence of chronic diseases.

The COVID-19 epidemic forced companies to move their onsite functioning to a virtual, work-from-home model. This was a business continuity plan in response to the worldwide lockdowns enforced by governments to combat the virus. Unfortunately, these restrictions have negatively affected the market. However, due to the enforced restrictions and a lack of work–life balance, there is a significant rise in the focus on employees’ mental health, which, in turn, will lead to an increase in the demand for such wellness programs in 2021. As a result, this corporate wellness industry has the potential to flourish in the near future.

Due to Frequent Utilization, Health Risk Assessment Category Held Largest Share

The health risk assessment category held largest share during the historical period, based on service type. This was mainly due to health risk assessment being the primary screening process employed in almost all the corporates, in compliance with government mandates. Additionally, this is the initial step in a multi-component health promotion program.

Due to Larger Budgets, Large-Scale Organizations Category Dominated Market in 2020

The large-scale organizations category dominated the corporate wellness industry in 2020, based on end user. This is attributed to a large number of employees in and high budgets of large-scale organizations. As a result, these organizations usually offer exhaustive healthcare schemes and programs for employees.

Owing to Employers’ Rising Awareness about Healthcare, North America Accounted for Largest Market Share

Geographically, North America generated the highest revenue in the corporate wellness industry in 2020. This was mainly due to the rising prevalence of cardiovascular diseases owing to a sedentary lifestyle, coupled with poor nutrition. Employers are aware of this, which is why they are increasingly implementing wellness programs, thus driving the market growth in the region.

Asia-Pacific (APAC) To Be Fastest Growing owing to Rising Working Population

The APAC region is expected to be the fastest-growing corporate wellness market during the forecast period. This is ascribed to the growing working population and rising awareness about healthcare. In addition, all major multinational corporations have offices in the APAC region, which is driving the market here.

Mental Wellness Programs at Workplaces Are Key Trend

Implementation of mental wellness programs at workplaces is one of the key trends observed in the corporate wellness market. The preference of employees for a holistic work environment is surging in response to the increasing prevalence of mental health issues caused by the rising job pressure. According to the Royal College of Psychiatrists, one in six people experiences some mental health problem at the workplace. Mental wellbeing is now given high importance, with companies focusing on sleep and stress management programs to help employees balance their life. For instance, in July 2020, Google LLC started a program, called "TEA Check-ins", as part of its employee training regimen. It is an acronym for thoughts, energy, and attention, which are meant to address workplace-related stress and exhaustion. Factors like these are resulting in the growing demand for corporate wellness programs.

Rising Prevalence of Chronic Diseases Is Boosting Market Growth

According to the World Health Organization (WHO), over 1.9 billion individuals aged 18 and above were overweight in 2016, with over 650 million being obese. Physical inactivity has increased as a result of the sedentary lifestyle, changing forms of transportation, and growing urbanization rate. According to a study published by the National Library of Medicine under the National Institutes of Health of the U.S., one out of every three persons worldwide suffers from numerous chronic illnesses. In addition, youths’ rising awareness on health and wellbeing is boosting the  market advance.

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Market Players Are Focusing on Product Launches to Gain Competitive Edge

Some of the key players in the corporate wellness market are ComPsych Corporation, Wellness Corporate Solutions, Virgin Pulse Inc., Provant Health Solutions LLC, Athletes’ Performance Inc., Marino Wellness LLC, Privia Health Affiliated, Vitality Group Inc., Wellsource Inc., Central Corporate Wellness, Truworth Health Technologies Pvt. Ltd., SOL Wellness LLC, Well Nation, Aduro Inc., Beacon Health Options, and Fitbit Inc.

In recent years, players in the corporate wellness industry have focused on launching new products and programs to give wings to corporate mental wellbeing programs. For instance,

• In February 2021, Fitbit, which is part of Google LLCannounced the launch of “Mindful Method” wellness collection program. The Mindful Method is an audio and video program that focuses on mindfulness, sleep, stress management, mental wellbeing, and the mind–body connection.
• In January 2021, HopeQure, an Indian online mental health counseling platform, launched an automated online corporate employee mental health wellness program. Employee Assistance helps workers in adopting healthy work practices by providing a comprehensive solution to support them through their work–life difficulties. The program assists in assessing the impact of mental health concerns on productivity and provides an accessible platform for enhancing the mental wellbeing of business personnel.

Key Players in Corporate Wellness Market Are

• ComPsych Corporation
• Wellness Corporate Solutions
• Virgin Pulse Inc.
• Provant Health Solutions LLC
• Athletes’ Performance Inc.
• Marino Wellness LLC
• Privia Medical Group
• Vitality Group Inc.
• Wellsource Inc.
• Central Corporate Wellness
• Truworth Health Technologies Pvt. Ltd.
• SOL Wellness LLC
• Well Nation
• Aduro Inc.
• Beacon Health Options Inc.
• Fitbit Inc.

Market Size Breakdown by Segment

The global corporate wellness market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.

Based on Service Type

• Health Risk Assessment
• Fitness
• Smoking Cessation
• Health Screening
• Nutrition & Weight Management
• Stress Management

Based on End User

• Small-Scale Organizations
• Medium-Scale Organizations
• Large-Scale Organizations

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  •  Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Taiwan
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa
  • U.A.E.