Corporate Wellness Solutions Market is Expected to Reach $94.6 billion | MarketsandMarkets.

Chicago, Sept. 18, 2023 (GLOBE NEWSWIRE) -- In the near future, the corporate wellness solutions industry is poised for transformative growth as organizations increasingly prioritize the well-being of their employees. With the recognition that a healthy and engaged workforce directly correlates with productivity and success, businesses will invest heavily in comprehensive wellness programs. These programs will extend beyond traditional fitness initiatives to encompass mental health support, personalized wellness plans, and digital platforms utilizing AI and data analytics to tailor wellness strategies for individual employees. Furthermore, as remote and hybrid work arrangements continue to evolve, corporate wellness solutions will adapt to cater to diverse employee needs, ensuring a happier, healthier, and more resilient workforce that ultimately drives innovation and prosperity in the corporate world.

Corporate Wellness Solutions market in terms of revenue was estimated to be worth $61.2 billion in 2021 and is poised to reach $94.6 billion by 2026, growing at a CAGR of 9.1% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Growth in the market is driven by rising adoption of corporate wellness programs by employers, technology-powered corporate wellness solutions and burden of chronic lifestyle diseases and mental health issues in organizations. However, factors posing a challenge to this market include low employee engagement and participation in corporate wellness programs and adoption of internal-led corporate wellness programs through benefits packages and perks.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110760130

Corporate Wellness Solutions Market Scope:

Report Coverage	Details
Market Revenue in 2021	$61.2 billion
Estimated Value by 2026	$94.6 billion
Growth Rate	Poised to grow at a CAGR of 9.1%
Market Size Available for	2019-2026
Forecast Period	2021-2026
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Corporate Wellness Solutions Market: Service offering, End User
Geographies Covered	North America US Canada Europe Germany France UK Italy Spain Rest of Europe(RoE) Asia Pacific China Japan India Rest of Asia Pacific (RoAPAC) Rest of the World
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Emerging countries with a large working population
Key Market Drivers	Rising adoption of corporate wellness programs

Corporate Wellness Solutions market major players covered in the report, such as:

• 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)
• WellWorks For You (US)
• and Among Others

Buy a Corporate Wellness Solutions Industry Report (228 Pages PDF with Insightful Charts, Tables, and Figures): https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=110760130

The research report categorizes the market into the following segments and subsegments:
Corporate Wellness Solutions Market,

By Service offering

• Health Risk Assessment
• Nutrition and Weight Management
• Smoking Cessation
• Fitness Services
• Biometric Screening
• Alcohol/Substance Abuse Services
• Mental/Behavioral Health Management
• Virtual consultation/Virtual care
• Employee Assistance Programs
• Health Benefit Programs

Corporate Wellness Solutions Market, By End User

• Large organizations
• Medium-sized organizations
• Small organizations

Corporate Wellness Solutions Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific (RoAPAC)
• Rest of the World

Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=110760130

The key stakeholders in the Corporate Wellness Solutions market include:

• Employers: Employers are the primary clients for corporate wellness solutions, investing in these programs to improve the health and well-being of their employees, reduce healthcare costs, and enhance workforce productivity.
• Employees: Employees are the end-users of corporate wellness programs, benefiting from services and initiatives aimed at improving their physical and mental health, reducing stress, and promoting a healthier work-life balance.
• Wellness Solution Providers: These are companies and organizations specializing in offering corporate wellness solutions, including wellness program design, technology platforms, fitness facilities, and health coaching services.
• Healthcare Providers: Hospitals, clinics, and healthcare professionals play a role in corporate wellness by offering medical screenings, health assessments, and medical consultation services as part of wellness programs.
• Insurance Companies: Insurers may partner with employers to provide incentives for wellness program participation or offer wellness-related insurance products that can lead to reduced premiums for healthier employees.
• Technology and Software Providers: Tech companies develop and provide the digital tools and platforms necessary for tracking employee wellness data, offering telehealth services, and creating personalized wellness plans.
• Human Resources (HR) Departments: HR professionals within organizations are responsible for implementing and managing corporate wellness programs, often in collaboration with wellness solution providers.
• Government and Regulatory Bodies: Government agencies and regulatory bodies may set guidelines and regulations related to corporate wellness programs, especially when it comes to compliance with healthcare laws and data privacy regulations.
• Fitness and Wellness Facilities: Gyms, fitness centers, and wellness facilities may partner with employers to offer on-site fitness classes, access to exercise equipment, and other wellness amenities.
• Researchers and Consultants: Academics, researchers, and consultants specializing in workplace wellness may provide insights, conduct studies, and offer guidance to improve the effectiveness of corporate wellness solutions.
• Trade Associations: Industry-specific associations and organizations advocate for the corporate wellness industry, promote best practices, and provide networking opportunities for stakeholders.
• Employees' Families: The families of employees can indirectly benefit from corporate wellness programs as healthier employees often lead to improved family well-being, reduced caregiving burdens, and better work-life balance for employees.

These key stakeholders collectively shape the evolving landscape of the corporate wellness solutions market, contributing to its growth and innovation.

Recent Developments:

• In April 2021, Workplace Options (US) launched a specialized program, Revive, to assist employees experiencing or at risk of burnout through live counseling and coaching sessions.
• In February 2021, LifeWorks, Inc. completed the acquisition of SMG Health Pty. Ltd. (Australia) through its LifeWorks Business, expanding the company’s service offerings in Australia.
• In January 2021, UnitedHealth Group (US) launched virtual primary care for employees for wellness and routine and chronic condition management.
• In February 2020, Anthem, Inc. (US), acquired Beacon Health Options (US), an independently held behavioral health organization, to combine the company’s behavioral health capabilities with Beacon Health’s model and support services.
• In June 2020, Virgin Group Ltd. (US) launched VP Passport, a unified engagement platform with employer-configurable monitoring and screening tools, live support, and partner solutions to facilitate safe return to workplace.

Frequently Asked Questions (FAQs) of Corporate Wellness Solutions Market:

Which are the top players in the global corporate wellness solutions market?
The top market players in the global corporate wellness solutions market include ComPsych Corporation (US), UnitedHealth Group (Optum) (US), Anthem, Inc. (US), Workplace Options (US), Virgin Group Ltd. (US), and CVS Health Corporation (US).

Which geographical region is dominating in the corporate wellness solutions market?
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 especially related to the opioid crisis in the region.

Which is the leading segment in the corporate wellness solutions market, by end user?
The large organizations segmented commanded the corporate wellness solutions market, by end user, in the forecast period. The large share of this segment can be attributed to high consumption of workplace wellness solutions by these organizations and favorable incentivization for employee participation in corporate wellness programs.

What is the current size of the global corporate wellness solutions market?
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%.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=110760130

Report Objectives:

• To define, describe, analyze, and forecast the size of the corporate wellness solutions market on the basis of service offering, end user, and region.
• To provide detailed information on the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
• To forecast the size of the market segments with respect to North America, Europe, Asia Pacific, and Rest of the World.
• To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies.
• To track and analyze competitive developments such as product launches, expansions, partnerships, agreements, collaborations, acquisitions and other developments in the market.
• To benchmark players within the corporate wellness solutions market using the Competitive Leadership Mapping framework which analyzes market players on various parameters within the broad categories of business and product strategy.

Related Reports:

Medical Wearables Market

mHealth Solutions Market

Wearable Healthcare Devices Market

Defibrillator Market

US Therapeutic Plasma Exchange Market

Research Insight:  https://www.marketsandmarkets.com/ResearchInsight/corporate-wellness-solution-market.asp

Content Source:  https://www.marketsandmarkets.com/PressReleases/corporate-wellness-solution.asp

            About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com