US Corporate Wellness Market Growth Prospects, Trends and Forecast up to 2028

Corporate employees are more likely to invest on wellness programs after the threatening spread of coronavirus. There is an increasing awareness about overall health and fitness among corporate employees. There are various factors that are affecting the health of employees such as smoking habits, alcohol consumption, work stress, consumption of unhealthy food, disturbed sleep cycle, etc. Wellness services provides services including stress management, health screening, weight management, food & nutrition, etc.

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The Asia Pacific corporate wellness market is expected to witness steady growth after the coronavirus breakdown, owing to increasing awareness about health and wellbeing in employees. These corporate wellness programs are specifically designed to support employees in understanding their health risk. It reduces healthcare expenditure of employees to a great extent. Corporate or workplace wellness programs are employer-funded services that are designed to maintain good health of employees. There are many organizations implementing wellness programs for good health and fitness of the employees to boost work productivity.

Adoption of Corporate Wellness Programs in Employees

The increasing prevalence of various cardiovascular diseases in employees at Asia Pacific countries is a major driving factor for the growth of the Asia Pacific corporate wellness market. Unhealthy food habits, hectic lifestyle, disrupted sleep cycle, and excessive stress are some of the key factors responsible of rising incidences of various disorders in Asia Pacific. The increasing number of vendors selling corporate wellness programs to medium and large sizes companies is contributing to market growth.

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Manufacturers operating in the Asia Pacific corporate wellness market are focusing on high quality services to boost the overall health and wellbeing of corporate employees. Many employees in Asia Pacific countries are adopting these services for better health and lifestyle. This will reduce the cost of hospitalization, emergency room visits, specialist visits, and surgeries. Moreover, corporate wellness programs result in decrease in absenteeism, increase in productivity, and improvement in quality of life of employees. Employers are utilizing these wellness programs to improve their lifestyle by reducing incidences of chronic conditions in them. This will help reduce employee healthcare cost and increase productivity.

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Rise in Prevalence of Chronic Diseases in Asia Pacific

The Asia Pacific corporate wellness market is driven by rising number of incidences of non-communicable diseases (NCDs) such as cardiovascular diseases, diabetes, high blood pressure, cancer, and chronic respiratory diseases, etc., causing millions of deaths every year. Old employees are more likely to suffer from these chronic conditions. Rising geriatric population in Asia Pacific is one of the major contributing factors of growth of the Asia Pacific corporate wellness market.

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Lucrative Growth Opportunities Due to Advancements in Healthcare Industry

The rising prevalence of chronic diseases, growth and advancement of healthcare industry, and awareness and adoption of corporate wellness services are some of the major factors expected to increase the demand for corporate wellness programs in Asia Pacific during the forecast period. The increasing awareness about corporate wellness programs in employees, along with willingness to invest in such services boosts market growth in Asia Pacific.

The rising prevalence of cardiovascular diseases such as diabetes, high blood pressure, chronic respiratory diseases, cancer, lung disorders, etc. in employees demand for corporate wellness services. In order to increase the overall wellbeing of employees, market players are introducing cost-effective and highly efficient corporate wellness programs.

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