Corporate Wellness Market 2026: What Challenges and Opportunities?
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Corporate Wellness Market Drivers:
High prevalence of smoking, obesity, and overweight is expected to be a major factor which will create demand for corporate wellness programs. Therefore employers are adopting corporate wellness programs in order to make their employees’ healthy, reduce health care costs, and to increase employee’s productivity. For instance, according to the data published by Center for Disease Control and Prevention (CDC), in 2016, around 15.5% of the U.S. adults smoke cigarettes, which is around 37.8 million adults in the U.S. According to World Health Organization’s data published in February 2018, since 1975 obesity has nearly tripled globally, and it was estimated that in 2016, globally, 39% of adults aged 18 years and above were overweight and around 13% were obese. Furthermore, according to the same source, in 2016, over 1.9 billion adults (18 years and older) were overweight out of which over 650 million were obese.
In corporate offices, an employee works around 9 hours, and during this time period most employees sit continuously and are physically inactive during working hours. Hence, such physical inactivity can lead to rise in prevalence of lifestyle diseases such as diabetes, blood pressure, and others. Hence, increasing prevalence of such lifestyle diseases can increase demand for corporate wellness programs by employers to reduce absenteeism, increase work productivity, and to improve employee morale. For instance, according to the data published by Center for Disease Control and Prevention (CDC) in 2017, in the U.S. 30.2 million adults aged 18 years or older (12.2% of all the U.S. adults) were suffering from diabetes in which type 2 diabetes accounted for 90% to 95% of all diabetes cases. According to the data published by Center for Disease Control and Prevention (CDC) in January 2018, the death rate from high blood pressure increased by nearly 11% in the U.S. between 2005 and 2015, and the actual number of deaths rose by almost 38% up to nearly 79,000 by 2015.
Corporate Wellness Market Regional Analysis:
North America corporate wellness market is expected to hold a dominant position in the global corporate wellness market over the forecast period, owing to increasing adoption of corporate wellness programs by corporate offices and rising health awareness among the population for living a healthy and stress free life.
Asia Pacific corporate wellness market growth is expected to exhibit high growth over the forecast period, due to increasing demand for corporate wellness program from countries such as Japan and China, where there is a rise in lifestyle diseases such as diabetes and blood pressure. For instance, according to a survey done in Japan by Health Ministry in 2016, around 10 million adults in Japan were suspected to be diabetic.
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Corporate Wellness Market Taxonomy
The global corporate wellness market is segmented on the basis of service type, end user, and region.
By Service Type
• Smoking Cessation
• Nutrition and Weight Management
• Stress Management
• Health Risk Assessment
• Health Screening
By End User
• Large-scale Organizations
• Medium-scale Organizations
• Small-scale Organizations
• North America
• Latin America
• Asia Pacific
• Middle East
Corporate Wellness Market – Top Key Players
Key players operating in the global corporate wellness market include EXOS, Hooper Holmes, Inc., Wellness Corporate Solutions, Sodexo, Recovre Group, Central Corporate Wellness, Truworth Wellness, CXA Group Pte. Limited, SOL Wellness, Virgin Pulse, Inc., Interactive Health, Inc., FitLinxx, Inc., and ConneXions Asia
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Global Corporate Wellness Market 2018 Forecast to 2023 Corporate wellness programs are designed to support employees understand their health risks, pursue healthy behavior at the workplace, and decrease health care expenditure. Corporate wellness programs consist of health risk assessments, fitness, health screening, weight management, smoking cessation, and nutrition. These programs reduce cost of hospitalization, surgeries, and visits to health care specialists. Moreover, corporate wellness programs increase productivity, decrease absenteeism, and improve