Corporate Wellness Market Size, Share & Trends Analysis Report By Service (Health Risk Assessment, Stress Management), By Category (Fitness & Nutrition Consultant, Organization), By End Use, And Segment Forecasts, 2019 - 2026

Industry Insights

The global corporate wellness market size was valued at USD 53.6 billion in 2018 and is expected to register a CAGR of 6.8% over the forecast period. Rising awareness regarding employee health and wellbeing is augmenting the market growth. Many businesses and enterprises in various industry verticals have started implementing health programs for their employees, which will boost market demand.

Wellness programs at workplace help companies in increasing productivity while reducing the overall operational costs. These programs encourage employees to adopt a healthier lifestyle and help companies enhance the productivity and employee performance while reducing the overall operational costs. Organizations, such as spas and wellness centers, provide coaching to individuals or groups.

These coaching services can facilitate long-term customer relationship between the companies providing and receiving health management services. The spa and wellness industry is aiming at capitalizing the workplace health trend. Rising cases of obesity increases costs of insurance, which further account for the financial burden on the employers.

The data published by Henry J. Kaiser Family Foundation states that employees pay around USD 1,200 for the mandated health insurance program, with the employers adding around USD 4,500. According to a research study by Harvard economists, in the corporate settings, absenteeism costs fall by USD 2.73 for every dollar spent on wellness programs. The total costs related to lost productivity due to absenteeism related to illnesses are expected to cross USD 150 billion over the forecast period.

Service Insights

Health risk assessment segment led the overall market, in terms of revenue share, in 2018. Wellness programs mainly include screening activities to identify health risks and implement appropriate intervention strategies to promote a healthy lifestyle among employees. Around 80% of the employers offering such programs opt for health risk assessment of their employees. According to the data published by ComPsych Corporation, a diet of a person directly impacts lifestyle disorders, such as diabetes (79%), cholesterol (66%), high blood pressure (84%), and gastrointestinal diseases (78%).

Stress management segment is likely to register the fastest CAGR over the forecast period. Some of the key companies offer a real-time assessment of employee health data so that customer organizations can plan wellness programs accordingly. In June 2016, Wellness Corporate Solutions launched the WCS Analytics + platform, which consists of an interactive data dashboard. This on-demand data dashboard enables clients to plan and implement healthy activities leading to productive workplaces.

End Use Insights

Large-scale organizations led the end use segment in 2018, in terms of revenue share. On the other hand, medium-scale organizations are projected to witness the fastest growth from 2019 to 2026. According to RAND, a research corporation, around 72% of organizations invested in health screening services in 2013. Well documented studies indicate that correctly implemented programs can yield a Return on Investments (RoI) of around 3:1. Larger organizations can incorporate programs and services into their company’s infrastructure; whereas, small-scaled firms can benefit from corporate memberships and by outsourcing the services.

Category Insights

Organizations/employers segment led the overall market in 2018. The service providers offer in-house, as well as outsourced, health management services for large- and small-scale companies. The trend of on-site fitness, which includes yoga and meditation, is becoming popular.

Thus, fitness & nutrition consultants segment, is anticipated to register the fastest CAGR from 2019 to 2026. Service providers incorporate components, such as nutrition, exercise, and medication, along with social connectedness, behavioral health, and character strength, in their service offerings. Different programs deliver diversified solutions along with a holistic view to healthcare.

Regional Insights

North America led the overall market, in terms of revenue share, in 2018 and will maintain the dominance throughout the forecast period. According to RAND employer survey, approximately 50% of the employers in U.S. offer employee wellness programs. Large-scale companies offer more complex initiatives. Asia Pacific, on the other hand, is likely to witness the highest CAGR over the forecast period. Rising number of working individuals in Asia Pacific along with the growing awareness about health management of employees is expected to boost the demand for such programs.

Corporate Wellness Market Share Insights

The global market is characterized by the rise in companies focusing on business expansion to include in-house employee wellness services. In U.S., there are more than 550 organizations offering such services. Market participants are expanding to accommodate and cater to larger groups of employees. For instance, Wellness Corporate Solutions, a U.S.-based company, relocated their warehouse to a new facility in response to rising demand for biometric screening services in U.S. in August 2016. Some of the prominent companies in this market are ComPsych; Wellness Corporate Solutions; Virgin Pulse; Provant Health Solutions; EXOS; Marino Wellness, Privia Health; Vitality Group; Wellsource, Inc.; Central Corporate Wellness; Truworth Wellness; and SOL Wellness.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global corporate wellness market report on the basis of service, end use, category, and region:

• Service Outlook (Revenue, USD Million, 2015 - 2026)

  • Health Risk Assessment

  • Fitness

  • Smoking Cessation

  • Health Screening

  • Nutrition & Weight Management

  • Stress Management

  • Others

• End Use Outlook (Revenue, USD Million, 2015 - 2026)

  • Small-scale Organizations

  • Medium-scale Organizations

  • Large-scale Organizations

• Category Outlook (Revenue, USD Million, 2015 - 2026)

  • Fitness & Nutrition Consultants

  • Psychological Therapists

  • Organizations/Employers

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa