Global Workplace Wellness Market, By Type (Weight Management and Fitness Services, Smoking Cessation Nutrition and Dietary Plan, Stress Management Services, and Health Screening), End User (Small-Size Private Organizations, Mid-Size Private Organizations, Large-Size Private Organizations, Public Sector, and Non-Governmental Organizations) - Industry Trends and Forecast to 2029
Market Analysis and Size
Programs for workplace wellness are progressively gaining popularity as more businesses prioritize their employees' physical health. This helps increase productivity and production while keeping employees motivated throughout the day. The COVID-19 pandemic has shown how crucial it is for people of all ages to maintain their physical health. Due to this emphasis on health and wellbeing, corporate wellness initiatives have recently seen growth.
Data Bridge Market Research analyses that the workplace wellness market which was USD 51,895.46 million in 2021, would rocket up to USD 89969.20 million by 2029, and is expected to undergo a CAGR of 7.12% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Weight Management and Fitness Services, Smoking Cessation Nutrition and Dietary Plan, Stress Management Services, and Health Screening), End User (Small-Size Private Organizations, Mid-Size Private Organizations, Large-Size Private Organizations, Public Sector, and Non-Governmental Organizations)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Wellness Corporate Solutions (U.S.), ComPsych Corporation (U.S.), HealthFit (U.S.), HealthifyMe Wellness Private Limited (Bengaluru), Truworth Health Technologies Pvt. Ltd (India), Marino Wellness (U.S.), Privia Health (U.S.), Wellsource,Inc. (U.S.), Central Workplace Wellness (Singapore), Virgin Pulse (U.S.), SOL Wellness and Healing (U.S), Fitbit, Inc. (U.S.), Well Nation (U.S.), EXOS (U.S.)
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Market Opportunities
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Market Definition
Workplace wellness programs aim to promote employee health and safety through a coordinated set of health promotion measures that are implemented on the jobsite and include policies, programs, and some community benefits. This kind of program takes a particular stance on laws and regulations dealing with various health issues and risk factors.
Workplace Wellness Market Dynamics
Drivers
- Increased knowledge of the economic benefits
Adopting a sedentary lifestyle, increased knowledge of the economic benefits offered by these programmes, and the deployment of wellness programmes by employers are the key factors propelling the workplace wellness market. Furthermore, in the anticipated time frame of 2022–2029, untapped developing economies will further generate new chances for the workplace wellness industry.
- Rising prevalence of chronic illnesses
Two main reasons driving the growth of the global workplace wellness market are the rising prevalence of chronic illnesses and public awareness of the various benefits of workplace wellness programmes. Government programmes and policies aim to enhance both physical and mental health. Office gyms and healthcare facilities with trained fitness coaches are becoming popular among many corporations and they are benefitting the global workplace wellness market.
Opportunities
These initiatives support businesses in combating the rising number of employee health issues and ensuring the welfare of each employee. Additionally, it motivates staff members to adopt a healthy lifestyle for better health outcomes. Reduce employee absence rates caused by health difficulties with the use of an effective workplace wellness programme.
Restraints/Challenges
- High cost
Unavailability of skilled professionals along with high cost of devices will hamper the growth of the workplace wellness market in the mentioned forecast period. However, increased cost for companies to adopt workplace wellness plans is the major factors among others acting as a restraint, and will further challenge the growth of workplace wellness market in the forecast period mentioned above.
This workplace wellness market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the workplace wellness market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Workplace Wellness Market
The COVID-19 epidemic has significantly raised total workplace mental stress, negatively impacting employees' mental health. Insurance businesses and government-run wellness initiatives have been offering online consultations via telemedicine. Additionally, the use of telemedicine in these challenging times has dramatically increased due to the governments' physical separation and other lockdown restrictions.
Global Workplace Wellness Market Scope
The workplace wellness market is segmented on the basis of type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Weight Management and Fitness Services
- Smoking Cessation Nutrition and Dietary Plan
- Stress Management Services
- Health Screening
End User
- Small-Size Private Organizations
- Mid-Size Private Organizations
- Large-Size Private Organizations
- Public Sector
- Non-Governmental Organizations
Workplace Wellness Market Regional Analysis/Insights
The workplace wellness market is analysed and market size insights and trends are provided by country, type, and end-user as referenced above.
The countries covered in the workplace wellness market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the workplace wellness market due to rise in incidence of cancer and chronic diseases such as obesity, and diabetes propels and availability of major workplace wellness service providers and enhanced healthcare and medical infrastructure.
Asia Pacific is predicted to drastically improve in the upcoming times owed to the surge in the number of employees in the region and the growing awareness and importance of physical and mental health management among the youth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Workplace Wellness Market Share Analysis
The workplace wellness market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to workplace wellness market.
Some of the major players operating in the workplace wellness market are:
- Wellness Corporate Solutions (U.S.)
- ComPsych Corporation (U.S.)
- HealthFit (U.S.)
- HealthifyMe Wellness Private Limited (Bengaluru)
- Truworth Health Technologies Pvt. Ltd (India)
- Marino Wellness (U.S.)
- Privia Health (U.S.)
- Wellsource,Inc. (U.S.)
- Central Workplace Wellness (Singapore)
- Virgin Pulse (U.S.)
- SOL Wellness and Healing (U.S)
- Fitbit, Inc. (U.S.)
- Well Nation (U.S.)
- EXOS (U.S.)
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