Sarasota, FL -- (SBWIRE) -- 12/15/2018 -- Global Corporate Wellness Market: Overview

Corporate Wellness programs are devised to support employees and understand their health risks along with pursuing their healthy behavior at the workplace as well as minimize expensed on the healthcare activities. Corporate wellness schemes consist of health risk assessments, fitness, health screening, weight management, smoking cessation, and nutrition. These programs curb cost of hospitalization, surgeries, and visits to hospitals as well as healthcare specialists. Moreover, corporate wellness projects raise productivity, reduce absenteeism, and enhance quality of life of the staff.

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Global Corporate Wellness Market: Growth Factors

Health promotion and promoting of employee well-being through prevention of non-communicative ailments, rise in the proportion of white-collar staff, and increase in awareness pertaining to healthcare as well as corporate wellness in firms are some of the key growth drivers of the corporate wellness market.

Rapid penetration of corporate wellness services as a result of rise in healthcare costs, company revenue, and highlight on employee retention activities is anticipated to spur the corporate wellness market revenue in the years ahead. Escalating popularity of corporate wellness as well as corporate welfare solutions in countries such as India and China will create new growth avenues for corporate wellness market within the next few years. Growing organization focus on reducing employee stress, smoking habits, fatness, lack of exercise, and unhygienic food habits will further provide impetus for corporate wellness market in the coming years.

Global Corporate Wellness Market: Segmentation

The global corporate wellness market can be divided based on service type, which is further segmented into health risk assessment, health screening, fitness, smoking cessation, weight management, nutrition, and others that include stress management, disease management, and vaccination.

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Global Corporate Wellness Market: Regional Analysis

Based on regions, the global corporate wellness market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America corporate wellness market is projected to dominate the overall market during the period from 2018 to 2026, owing to rise in healthcare costs, increase in the cases of chronic ailments, increase in healthcare spending, rise in corporate wellness funding, and massive acceptance of corporate wellness services in the region. Apart from this, properly defined healthcare guidelines of private as well as public or government aided healthcare insurance organizations is likely to accelerate the market scope in the region. Favorable legislations, presence of service providers, and launching of new corporate wellness plans for fitness, nutrition, and weight management along with enhanced awareness about corporate wellness among the employers in the countries such as the U.S. will further contribute towards the regional growth in the next decade.

Europe is the second-leading corporate wellness services market with Germany being the major regional revenue contributor to the corporate wellness market in Europe. The corporate wellness market in Asia Pacific is expanding rapidly, driven primarily by the developing countries. Growing awareness about corporate wellness programs and rise in expenditure on healthcare are anticipated to augment the corporate wellness market progress in the region. But, lack of availability of corporate wellness services and low penetration of healthcare amenities will obstruct the corporate wellness market growth graph across the emerging as well as under-developed economies of the Middle East and Africa and Latin America.

Global Corporate Wellness Market: Competitive Players

The key market players of the global corporate wellness market include Truworth Wellness, EXOS, Wellness Corporate Solutions, Optum, Inc., Sodexo, Bupa Wellness Pty Ltd, ComPsych Corporation, JLT Australia, Central Corporate Wellness, CXA Group, and SOL Wellness.

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