Industry Background:
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.
According to AMA Research, the market for Corporate Wellness is expected to register a CAGR of 8.9% during the forecast period to 2028. This growth is primarily driven by Increasing Number of Employees in the Private Sector
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Human Resource & Employment Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
27th 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.
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.
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
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Corporate Wellness Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Corporate Wellness Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Corporate Wellness players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Corporate Wellness Study Sheds Light on
The Corporate Wellness Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Corporate Wellness industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Corporate Wellness industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.