About Corporate Wellness
Corporate wellness solutions refer to workplace health promotion activity designed to support healthy behavior in the workplace aiming at the improvement of employee well-being. It includes healthy eating promotion, stress management, exercise, and others. Market players are focusing on developing advanced corporate wellness solutions. For instance recently in 2018, Wellness Corporate Solutions launches an upgraded employee wellness portal named Well Connect Plus. In addition, increasing demand for corporate wellness solutions from medium-sized organizations, emerging countries, and growth in the private sector expected to drive the demand for corporate wellness solutions over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.9% |
Competition among existing players is due to the Corporate Wellness market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Corporate Wellness Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Corporate Wellness market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Compsych (United States), Wellness Corporate Solutions (United States), Optum, Inc. (United States), Virgin Pulse (United States), Quest Diagnostics (United States), EXOS (United States), Privia Health (United States), Central Corporate Wellness (Singapore), Sodexo (France), Vitality Group (Spain), Truworth Wellness (India) and Fitlinxx (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are SOL Wellness (Hong Kong), Jardine Lloyd Thompson Group PLC (Australia), ConneXions Asia (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Corporate Wellness market by and Region.
On the basis of geography, the market of Corporate Wellness has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service , the sub-segment i.e. Health Risk Assessment will boost the Corporate Wellness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category , the sub-segment i.e. Fitness & Nutrition Consultants will boost the Corporate Wellness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Small-scale Organizations will boost the Corporate Wellness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing On Integration of Wearable Technology, Gamification Programs, and Mobile Applications in Corporate Wellness Solutions and Emergence of onsite corporate wellness programs
Market Growth Drivers:
Increasing Number of Employees in the Private Sector, Rising Awareness Regarding Employee Health & Well-Being and Increasing Demand for Corporate Wellness Solutions from Medium-Scale Organizations
Challenges:
Low Participation Rate of Employees in Corporate Wellness Program in Emerging Countries
Restraints:
Low Adoption of Wellness Solution Program in Small Corporate Organizations and Integration of corporate wellness programs with various systems
Opportunities:
Rising Demand for Corporate Wellness Solutions from Emerging Economies, Growing Focus on Employee Retention and Increasing Adoption of Wellness Programs in Organizations As It Reduces the Health Risks of Employees
Market Leaders and their expansionary development strategies
In November 2018, Virgin Pulse, an employee well-being solution provider acquires Simply Well Inc. (Viverae), a workplace wellness company in the United States. This acquisition will provide clients if Simply Well to expand their wellbeing programs with Virgin Pulse’s full-featured digital behavior change platform.
In 2018, Vitality Group, collaborated with seven health companies including Vida Health, Happify Health, Headspace, U.S. Preventive Medicine, Wellness Corporate Solutions, eHealth Screenings, and Zipongo.
Key Target Audience
Corporate Wellness Service Providers, Large Size Organizations, Medium Size Organizations, and Small Size Organizations, Market Research and Consulting Firms, Academic Institutions, Venture Capitalists and Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.