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Corporate Wellness Market 2023 | Detailed Report and analysis : ComPsych Corporation, Interactive Health
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Corporate wellness programs have become increasingly popular in recent years, with companies recognizing the importance of investing in their employees' well-being. The corporate wellness market, which includes health risk assessment, stress management, fitness, and weight management segments, is expected to experience steady growth in the coming years.
One of the driving factors behind this growth is the rising prevalence of lifestyle-related diseases among employees, which can be attributed to factors such as long working hours, hectic work schedules, and unhealthy eating habits. As a result, there is a significant demand for corporate wellness programs across the world.
The global corporate wellness market is expected to expand at a compound annual growth rate (CAGR) of 4.95%, reaching a value of USD 61.95 billion by 2023, up from USD 48.66 billion in 2018.
The health risk assessment segment is expected to continue to hold the largest market share, accounting for 46.56% of the market in 2018. This can be attributed to the increasing incidence of chronic diseases, improved awareness among employers regarding employee wellness, and increased spending on healthcare by employers. Additionally, the stress management segment is expected to see growth, with a market share of 28.57% in 2018, due to the high levels of stress, anxiety, and depression among employees.
Furthermore, the market is segmented based on the end-users, including large-scale, medium-scale, and small-scale organizations. Large-scale organizations held the highest market share (42.1%) in 2018 and are expected to continue to expand at a CAGR of 3.99% during the 2018-2023 period. This is due to the adoption of new technologies and increasing expenditure on employees' well-being.
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Geographically, North America accounted for the largest market share (37.42%) in 2018, and is expected to grow at a CAGR of 4.98% during the 2018-2023 period. This can be attributed to factors such as a high occurrence of lifestyle-associated diseases, adoption of premium wellness services and programs, and favorable government policies.
In the U.S., corporate wellness programs are increasingly being adopted due to rising healthcare costs and the increasing incidence of chronic diseases. This has resulted in higher investments in corporate wellness services and the adoption of new corporate wellness plans for fitness, weight management, and nutrition. In addition, the U.S. market is being driven by an expanding number of fitness centers in the region.
Some of the key players in the corporate wellness market include Virgin Pulse, ComPsych Corporation, Vitality, Quest Diagnostics Health & Wellness, Interactive Health, BurnAlong, FitBliss, IncentFit, and Training Amigo.
The corporate wellness market is expected to see continued growth in the coming years, driven by factors such as the increasing prevalence of lifestyle-related diseases, rising awareness about employee wellness, and expanding adoption of corporate wellness programs across the world.
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Scope of the Report:
The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.
Here are the key highlights of the report:
• Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
• In-depth analysis of the competitive landscape, identifying key trends within the industry.
• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
• Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
Our sample report encompasses the following elements:
• Introduction, Overview, and In-depth Industry Analysis: A comprehensive analysis of the industry, providing an updated report introduction along with an in-depth examination of key aspects.
• Research Report of 100+ Pages: The report consists of more than 100 pages, incorporating the latest research findings and insights.
• Chapter-wise Guidance: We offer chapter-wise guidance upon request, allowing you to navigate the report and delve into specific areas of interest.
• Updated Regional Analysis with Graphical Representation: Our report includes an updated regional analysis, presented in a graphical format to illustrate the size, share, and emerging trends within each region.
• List of Tables and Figures: It features an updated list of tables and figures that support the information presented in the report.
• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.
Our most recent research report showcases the thriving expansion of the global Corporate Wellness Market and offers in-depth insights into the projected market size, share, and revenue until 2030.
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