Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Occupational Health Market Forecast to 2030 - Global Analysis by Offering, Category, Employee Type, Site Location, Type, Industry" report has been added to ResearchAndMarkets.com's offering.
In 2022, the global occupational health market exhibited a valuation of US$ 4.56 billion, projected to ascend to US$ 5.94 billion by 2030, reflecting a compound annual growth rate (CAGR) of 3.4% from 2022 to 2030.
The expansion of the occupational health market is being propelled by the heightened emphasis on employer-sponsored medical health coverage and a surge in the adoption of workplace wellness initiatives. Despite these driving factors, health-related risks within work environments have emerged as obstacles to the growth of the occupational health market.
Unlocking Opportunities through Workplace Health Models
The implementation of workplace health models presents a fertile ground for the growth of the occupational health market. These models, as endorsed by organizations like the CDC, play a pivotal role in fostering a physically and mentally healthy work culture, along with disease prevention programs. The embrace of such models by employers has the potential to positively impact over 159 million workers in the US alone. By curating a safe environment, employers not only improve workers' quality of life but also curtail direct costs, including insurance coverage and compensation claims.
Health Risks at Workplaces: A Deterrent to Growth
Workplace-associated health risks cast a shadow on the growth trajectory of the occupational health market. With people dedicating approximately one-third of their time to work, employment conditions and health have become intrinsically linked. Hazards such as heat, noise, dust, chemicals, and psychological stress can exacerbate health problems, leading to chronic diseases, unhealthy behaviors, and reduced productivity. These factors contribute significantly to escalating health insurance premiums and medical claims, posing economic challenges.
Segment Insights
The report delves into various segments of the occupational health market:
- The offerings segment includes products, solutions (such as data management), and services. The services segment dominated the market in 2022 and is poised to maintain its dominance with the highest CAGR during the forecast period.
- Categories encompass physical and environmental factors, chemicals, safety, ergonomic considerations, vaccination and immunizations, biological aspects, and others. The physical and environmental segment claimed a larger share in 2022, while the ergonomic segment is anticipated to exhibit a higher CAGR.
- Employee types comprise remote, hybrid, and physical presence workers. Remote employment held a larger market share in 2022 and is expected to grow at a higher CAGR.
- Site locations encompass on-site, off-site, and shared sites. The off-site segment led the market in 2022 and is poised to maintain its dominance with the highest projected CAGR.
- Types include physical wellbeing and social and mental wellbeing. Physical wellbeing accounted for a larger share in 2022, while the social and mental wellbeing segment is expected to experience a higher CAGR.
- Industries covered are automobile, chemical, engineering, government, manufacturing, mining, oil and gas, pharmaceutical, ports, and others. The government segment held the largest share in 2022, while the oil and gas sector is projected to achieve the highest CAGR.
In essence, this report paints a comprehensive picture of the occupational health market, uncovering growth drivers, opportunities, and obstacles across various dimensions. It equips stakeholders with invaluable insights into a crucial and evolving sector.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 368 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $4.57 Billion |
| Forecasted Market Value (USD) by 2030 | $5.94 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- High Focus on Employer-Sponsored Medical Health Coverage
- Upsurge in Adoption of Workplace Wellness Programs
- Restraints
- Health-Associated Risks at Workplaces
- Opportunities
- Implementation of Workplace Health Models
- Future Trends
- Incorporation of Robotics for Enhancing Occupational Health
A selection of companies mentioned in this report includes:
- Premise Health Holding Corp.
- Axa SA
- Select Medical Holdings Corp.
- UL Solutions Inc.
- Cority Software Inc.
- Mobile Health Consumer Inc.
- Sapphire Health Solutions
- Medigold Health Consultancy Ltd.
- Cope Occupational Health Services Ltd.
- US Occmed Holdings LLC
Key Topics Covered
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Occupational Health Market - Market Landscape
5. Occupational Health Market - Key Market Dynamics
6. Occupational Health Market - Global Analysis
7. Global Occupational Health Market - Revenue and Forecast to 2030 - by Offerings
8. Global Occupational Health Market - Revenue and Forecast to 2030 - by Category
9. Global Occupational Health Market - Revenue and Forecast to 2030 - by Employee Type
10. Global Occupational Health Market - Revenue and Forecast to 2030 - by Site Location
11. Global Occupational Health Market - Revenue and Forecast to 2030 - by Type
12. Global Occupational Health Market - Revenue and Forecast to 2030 - by Industries
For more information about this report visit https://www.researchandmarkets.com/r/ef4wkh
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