openPR Logo
Press release

Corporate Wellness Market in US - Participatory Programs are Gaining Traction | Market Analysis by Arizton

05-24-2019 07:12 PM CET | Health & Medicine

Press release from: Arizton Advisory & Intelligence

Arizton’s recent market research report on the US corporate wellness market identifies ComPsyc, Wellness Corporate Solutions, Virgin Pulse, and Provant Health Solutions as the leading vendors that are likely to dominate the market during the forecast period. The research report provides detailed analysis of market segmentation by delivery model (onsite and offsite), programs (HRA, nutrition and weight management, smoking cessation, fitness services, alcohol and drug rehab, stress management, health education services, and others), end-user (large private sector businesses, medium private sector businesses, public sector companies, small private sector businesses, and non-profit organizations), revenue models (recurring revenues and seasonal revenues), and incentive programs (participatory programs and health-contingent programs).

The corporate wellness market in US is likely to reach around $15.5 billion by 2024, growing at a CAGR of approximately 8% during 2018–2024.

Request for your free sample today!
https://www.arizton.com/market-reports/us-corporate-wellness-market-analysis-2024

The US corporate wellness market is divided into six segments - revenue model, delivery model, program, end-user, revenue model, and incentive program.

Corporate Wellness Programs are growing among small private sector business

In 2018, the corporate wellness market in the US by small private sector businesses witnessed revenues of around $1.20 billion. The low long-term health costs and the rise in productivity are primary growth drivers of the segment.HRAs, smoking cessation, weight loss, and counseling related to legal, psychological, and financial challenges are the programs offered by small private sector businesses. Lunchtime fitness is a concept that is gaining popularity among small businesses. Under this concept, employers allow an extra 30 minutes of lunch break to encourage employees to partake in some fitness activities. Further, the expanding economy and businesses would be intensifying the competition among small ventures. Therefore, initiatives such as onsite stress reduction programs, meditation classes, team activities, and volunteering opportunities are expected to witness an uptake in the corporate wellness market in the US.

Participatory Programs are Gaining Traction in Corporate Wellness Market in US

Participatory programs are growing, and the segment accounted for around $6 billion in revenue in 2018. Participatory programs are flexible up to the certain level and preclude incentivizing outcomes. Further, vendors are designing incentive programs that are in sync with the goals and objectives of the company. Therefore, incentive programs are thus popular among first-timer employers. In the US, incentives for participation is around $750 on an annual basis. About 18% are offered gift cards or cash, and 15% are offered other goodies. Such initiatives are motivating employees to have a healthy lifestyle, which is boosting the corporate wellness market in US.

Customized HRA Programs

HRA (health and risk assessment) corporate wellness programs include questionnaires to identify high-risk behaviors. With preventive care gaining more importance due to the rapid growth of healthcare costs, the market is expected to grow at a stable pace. Further, HRA is getting synced with health insurance premiums. A majority of employers that offer HRAs are using incentives for HRA completions and participation in biometric screenings and physical activity programs. Most HRA programs use BMI as a tool, which is actually a raw measurement that does not have a credible prognostic value in order to differentiate unhealthy and healthy employees. Therefore, vendors are working on making HRA programs more effective by integration them with other methods to address workplace ergonomic concerns.

Request for your free sample today!
https://www.arizton.com/market-reports/us-corporate-wellness-market-analysis-2024

Other prominent vendors are Active Wellness, Aduro, Aquila, Bank of America Merrill Lynch, BaySport, Beacon Health Options, Best Money Moves, Ceridian, Corporate Fitness Works, Exos, Fidelity, Financial Finesse, HealthFitness, Healthtrax, Integrated Wellness Partners, Kinema Fitness, LifeStart, LIVunLtd, Professional Fitness Management, Power Wellness, Reach Fitness, Marino Wellness, Mercer, Midtown Athletic Club, National Institute for Fitness and Sport (NIFS), OptumHealth, Privia Health, Premise Health, Prudential Financial, WTS International, Vitality Group, Wellsource, Wisdom Works Group, and Workstride.

The complete overview of the latest market research report on the US corporate wellness market by Arizton is now available.

The report also offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.

About Arizton Advisory & Intelligence
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-235-2040

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Corporate Wellness Market in US - Participatory Programs are Gaining Traction | Market Analysis by Arizton here

News-ID: 1752843 • Views: 620

More Releases from Arizton Advisory & Intelligence

Iran Construction Equipment Market to Reach $411 million by 2028.
According to Arizton latest research report, the Iran construction equipment market is expected to grow at a CAGR of 7%. Government investments in road construction, infrastructure development, housing projects, smart cities, and the development of Eastern and Southern Corridors of the country expect to have a higher impact on the demand for excavators and backhoe loaders than other earthmoving equipment in Iran. In 2022, the Iranian government announced 48
Thailand Data Center Market to Reach $1 Billion by 2027. Around 38.4 MW Power Ca …
According to Arizton latest research report, Thailand data center market is expected to grow at a CAGR of 7.7% during 2021-2027. Digitalization driven by the COVID-19 pandemic, deployment of 5G technology, and the introduction of the Personal Data Protection Law (PDPL) are some factors that will drive the Thailand data center market as it will lead to increase in the demand for the data center facilities. The Thailand data
The U.S. Commercial Lawn Mower Market to Reach $2.6 Billion by 2027| Availabilit …
According to Arizton's latest research report, the US commercial lawn mower market is expected to grow at a CAGR of 4.67% during 2021-2027. Many companies such as Husqvarna are bringing equipment such as robotic lawn mowers to the next level by equipping their next generation of robotic lawn mowers with connected technology and services. Hence, the constant efforts for the development of new features & technology for lawn mowers are
The Global Regulatory Affairs Outsourcing Market is Expected to Reach $16.8 Bill …
The global regulatory affairs outsourcing market was valued at $8.2 billion in 2021 and is expected to reach $16.8 billion by 2027. According to the latest research report by Arizton, the global regulatory affairs outsourcing market is expected to grow at a CAGR of 12.73% during 2022-2027. The increasing use of digital platforms, changing regulatory landscape, and the emergence of virtual trials & virtual communication are the major factors in

All 5 Releases


More Releases for HRA

Global Mitotane market: Technological Innovations in 2020|HRA Pharma, ...,
Los Angeles, United State: The report is a compilation of comprehensive research studies on various aspects of the global Mitotane Market. With accurate data and highly authentic information, it makes a brilliant attempt to provide a real, transparent picture of current and future situations of the global Mitotane market. Market participants can use this powerful tool when creating effective business plans or making important changes to their strategies. The report
Vaginal Rings Market Overview 2020-26, Bayer, Ansell, Actavis, Allergan, HRA Pha …
The latest study on the Global Vaginal Rings market report represents a deep appraisal of the international industry. The research report on the worldwide Vaginal Rings market 2020-2026 sheds light on qualitative as well as quantitative insights, historical Vaginal Rings industry status and authorized projection related to the Vaginal Rings market size. Each and every segment exhibited in this report are discovered through verifiable research methods and techniques. It also
BENAFICA, LLC ENTERS THE HRA MARKET TO OFFER NEXT GENERATION EMPLOYEE BENEFIT OP …
Benafica's new Individual Contribution HRA (ICHRA) services for Employers reimburses employees tax-free for health insurance St. Paul, MN - Benafica, LLC today announced its entry into the Health Reimbursement Arrangement (HRA) marketplace. Benafica will administer various kinds of HRA's, including two new HRA types in the marketplace for 2020 - Individual Contribution HRA (ICHRA) and Expected Benefits HRA (EBHRA). Small, medium, and large employers now have the opportunity with
Adrenocortical Carcinoma Therapeutics - Pipeline Analysis 2018, Clinical Trials …
Adrenocortical carcinoma, also known as adrenal cortex carcinoma, is a rare form of cancer that occurs at the cortex layer of the adrenal gland. There are two adrenal glands present in the human body: one at the top of each kidney. Download the sample report @ https://www.pharmaproff.com/request-sample/1109 Each adrenal gland is comprised of two distinct structures: the outer part of the adrenal glands (adrenal cortex) and the inner region (adrenal medulla). Some
Cushings syndrome Market Report 2017-2025 | Novartis Pharmaceuticals Corporation …
"The Latest Research Report Cushings syndrome Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" Cushing’s syndrome is the collection of symptoms caused due to the high level of hormones called cortisol. Also known as hypercortisolism, the syndrome is often caused due to side effects of corticosteroid treatment. Corticosteroids
Global Survey - Intrauterine Devices Market Forecast 2018-2025 Merck, HRA Pharma …
A comprehensive market study on "Global Intrauterine Devices Market 2018-2025" examines the performance of the Intrauterine Devices market. It encloses an in-depth Research of the Intrauterine Devices market state and the competitive landscape globally. This report analyzes the potential of Intrauterine Devices market in the present and the future prospects from various angles in detail. Leading Manufacturers Analysis such as - Bayer, Merck, Teva Pharmaceutical, Allergan, HRA Pharma, Eurogine, Yantai JiShengYaoXie,