Corporate Wellness Market Size, Share & Trends Analysis Report By End Use, By Service (Health Risk Assessment, Nutrition & Weight Management), By Category, By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global corporate wellness market size was valued at USD 50.2 billion in 2017 and is expected to grow at a CAGR of 6.8% over the forecast period, according to Grand View Research, Inc. Rising awareness regarding employee health and wellbeing is augmenting the market growth. Many businesses and enterprises in various industry verticals have started implementing wellness programs for their employees, which will also boost the market demand.

Workplace wellness programs are aimed at improving the health of employees. These programs help companies in augmenting the productivity while reducing the overall operational costs. These programs also encourage employees to adopt a healthier lifestyle.

Various organizations such as spas and wellness centers provide coaching individually or in group settings. These coaching services facilitate long-term customer relationship between the organizations providing and receiving the health management services. The spa and wellness industry is aiming at capitalizing on the workplace wellbeing trend in the recent years.

Corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating habits, lack of exercise, etc. Rising financial burden on employers due to increases insurance is among the key factors driving the market development. According to the data published by Henry J. Kaiser Family Foundation, employees pay around USD 1,200 for mandated health insurance program, with the employers adding around USD 4,500.

Many large corporations have initiated different wellness programs for disease prevention and for improving the overall productivity. According to a study conducted by Harvard economists, 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 dominated the overall corporate wellness market, in terms of revenue share in 2017. Wellness programs mainly include screening activities in order to identify health risks and implement appropriate intervention strategies to promote a healthy lifestyle. Around 80% of the employers offering employee wellness services, 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 have the fastest growth rate over the forecast period. Some of the key companies offer a real-time assessment of employee health data so that the customer organizations can plan employee wellness programs accordingly. In June 2016, Wellness Corporate Solutions launched WCS Analytics + platform, which consists of interactive data dashboard. This on-demand data dashboard enables clients to plan and implement wellness activities leading to productive workplaces.

End Use Insights

Studies indicate that a correctly implemented program can yield a Return on Investments (RoI) of around 3:1. Large-scale organizations can start such programs and services within the company’s infrastructure. Whereas, the small-scaled organizations can benefit from corporate memberships and outsourcing these services.

Large-scale organizations dominated the end-use segment in 2017, in terms of revenue share. On the other hand, medium-scale organizations are likely to experience the fastest growth in the coming years.

Category Insights

In the category segment, wellness service providers led the market in 2017. These service providers offer in-house, as well as outsourced, health management services for large- and small-scale corporations.

The trend of on-site fitness, which includes yoga and meditation, is becoming popular. Thus, fitness and nutrition consultants segment, on the other hand, is anticipated to witness the fastest growth from 2018 to 2025.

Regional Insights

North America dominated the global market in the year 2017. The Asia Pacific region, on the other hand, is likely to showcase an impressive growth rate over the forecast period. The market in Asia Pacific is emerging at an impressive rate. Rising number of working individuals and growing awareness about employee health management are the key factors responsible for the region’s growth.

Moreover, presence of many key corporate wellness service providers is also boosting the market expansion. Some of the key players in this region are Central Corporate Wellness (Singapore); Jardine Lloyd Thompson Group PLC, (JLT, Australia); Truworth Wellness (India); SOL Wellness (Hong Kong); and ConneXions Asia (China).

Corporate Wellness Market Share Insights

The market is characterized by increasing focus of companies on business expansion to include in-house services. In the U.S., there are more than 550 organizations offering employee wellness programs. 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 the region. Several key players in this market are ComPsych Corporation, Virgin Pulse, Inc.; Provant Health Solutions, Inc.; EXOS; Vitality Group, Interactive Health, Inc.; Sodexo; and FitLinxx, Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. 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, 2014 - 2025)

  • Health Risk Assessment

  • Fitness

  • Smoking Cessation

  • Health Screening

  • Nutrition & Weight Management

  • Stress Management

  • Others

• End Use Outlook (Revenue, USD Million, 2014 - 2025)

  • Small-scale Organizations

  • Medium-scale Organizations

  • Large-scale Organizations

• Category Outlook (Revenue, USD Million, 2014 - 2025)

  • Fitness & Nutrition Consultants

  • Psychological Therapists

  • Organizations

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • 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