Workplace Wellness Market Growth in Awareness and Employer Wellness Program Implementation

Rise in incidence of chronic diseases, and increase in awareness and implementation of wellness programs by employers are the prime factors fueling the growth of the global workplace wellness market. On the other hand, huge costs levied to the respective companies curb the growth to some extent. Nevertheless, untapped developing economies are expected to create a plethora of opportunities in the near future.

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"Workplace Wellness Market by Type (Weight Management & 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): Global Opportunity Analysis and Industry Forecast, 2020-2027." The global workplace wellness market size was valued at $49.81 billion in 2019, and is projected to reach $66.20 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027.

COVID-19 Impact Analysis:
The COVID-19 outbreak will impact the market in the initial phase of the forecast period. The COVID-19 impact has resulted in downsizing of employees in many organizations. Companies are laying off employees in an effort to cut costs. Laying off employees in the form of cost cutting has reduced workplace wellness cost, which is anticipated to create a negative impact on the workplace wellness market.

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The workplace wellness is segmented on the basis of type, end user, and region. By type, it is divided into weight management & fitness services, nutrition & dietary plan, stress management services, health screening & assessment, and smoking cessation. On the basis of end user, it is categorized into large-size private organizations, mid-size private organizations, small-size private organizations, public sector, and NGO. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The large-size company's segment to dominate during the estimated period-
The report provides an extensive competitive analysis and profiles of the key market players such as Fitbit, Novant Health, EXOS, Virgin Pulse, Vitality Health, ComPsych, HealthifyMe, MDVIP, Marino Wellness, WorkStride. Some of the others players considered are FitLinxx, Truworth Wellness, Central Workplace Wellness Workplace Solutions, Privia Health, and Wellsource.

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Key Benefits:
• The study provides an in-depth analysis of the global workplace wellness market size along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers workplace wellness market analysis from 2020 to 2027, which is expected to enable stakeholders to capitalize on prevailing opportunities in the market.
• A comprehensive analysis on region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
• The profiles and growth strategies of key players are thoroughly analyzed to understand the competitive outlook of the global workplace wellness market growth.

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