Corporate Wellness Market Size to Surpass US$ 94.8 Billion by 2028 at 7.6% CAGR

IMARC Group, a leading market research company, has recently released a report titled "Corporate Wellness Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global corporate wellness market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What Are The Growth Prospects Of The Corporate Wellness Industry?

According to the report, The global corporate wellness market size reached US$ 61.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.

What is Corporate Wellness?

Corporate wellness programs typically include a range of activities and services aimed at improving employee health and productivity. They often incorporate components such as fitness programs, nutrition counseling, stress management workshops, smoking cessation support, and mental health resources. By investing in corporate wellness, companies can experience numerous advantages, such as it can lead to a reduction in healthcare costs, as healthier employees are less likely to develop chronic conditions and require medical interventions. Additionally, corporate wellness programs can boost employee morale and job satisfaction, leading to increased productivity and reduced absenteeism. Currently, there are various types of corporate wellness programs that companies can implement, including physical health, mental health, and holistic wellness programs.

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What are the growth prospects and trends in the corporate wellness industry?

The global corporate wellness market is primarily accelerated by several factors, including the increasing prevalence of chronic diseases, such as diabetes and obesity. Moreover, the growing awareness of mental health issues in the workplace has led to a greater emphasis on mental wellness programs, which is providing a significant thrust to the market growth. Additionally, companies are recognizing the importance of work-life balance and are incorporating wellness initiatives to attract and retain employees, which is influencing the market growth. Furthermore, rapid technological advancements and the growing influence of social media platforms are boosting market growth. Furthermore, the COVID-19 pandemic has highlighted the importance of employee well-being, leading to an increased focus on corporate wellness programs, further augmenting the market growth. Other factors, such as government initiatives promoting workplace wellness, rising healthcare costs, and the need to address sedentary lifestyles and stress-related issues in the workplace, are facilitating the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Service:

Health Risk Assessment
Fitness
Smoking Cessation
Health Screening
Nutrition and Weight Management
Stress Management
Others

Breakup by Category:

Fitness and Nutrition Consultants
Psychological Therapists
Organizations/Employers

Breakup by Delivery:

Onsite
Offsite

Breakup by Organization Size:

Small Scale Organizations
Medium Scale Organizations
Large Scale Organizations

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Central Corporate Wellness
ComPsych
EXOS
Marino Wellness
Privia Health
Provant Health Solutions
SOL Wellness
Truworth Health Technologies Pvt. Ltd.
Virgin Pulse
Vitality
Wellness Corporate Solutions LLC
Wellsource Inc.

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