Corporate Wellness Market Size, Share & Trends Report

Corporate Wellness Market Size, Share & Trends Analysis Report By Service (Health Risk Assessment, Fitness), By End Use, By Category, By Delivery Model (Onsite, Offsite), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-395-9
  • Number of Report Pages: 113
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2021
  • Forecast Period: 2023 - 2028 
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the corporate wellness market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for corporate wellness market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of corporate wellness market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Corporate Wellness Market Categorization:

The corporate wellness market was categorized into five segments, namely service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management), end-use Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations), category (Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers), delivery model (Onsite, Offsite), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The corporate wellness market was segmented into service, end-use, category, delivery model, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The corporate wellness market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-two countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Russia; Netherlands; Switzerland; Japan; China; India; Australia; New Zealand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Corporate wellness market companies & financials:

The corporate wellness market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ComPsych - ComPsych is one of the largest providers of Employee Assistance Programs (EAP) in the world. It is a privately held company that provides its services to around 45,000 businesses, covering almost 100 million individuals in the U.S. and other countries. ComPsych created the “build-to-suit” program that assists employers to attract and retain their employees. This program is known to increase the productivity and overall wellbeing of employees. They focus on providing the best services to their clients, which has led to their growth and stability in the highly competitive corporate wellness market.

  • Wellness Corporate Solutions (WCS) - Wellness Corporate Solutions (WCS) provides health screening services, employee wellness programs, and health coaching in the U.S. It also provides services, such as employee benefits, employee engagement, and employee retention. WCS is one of the largest and minority-held companies that focuses on providing wellness to let people live healthily and work well across the U.S. It has provided its services to around 700 companies, both public sector and privately held companies. Their list of clients also includes the Fortune 100 companies with over 150,000 employees.

  • Virgin Pulse - Virgin Pulse assists various organizations with employee wellbeing programs. It is a part of Sir Richard Branson’s Virgin Group. Virgin Pulse has various subsidiary companies, such as Global Corporate Challenge, Viverae, Inc., Preventure, Inc., and Shape Up, Inc. It is a privately held company also involved in employee health and provides services to monitor their behavioral change. They engage clients in various activities on a daily basis to bring about an overall change in their health and wellbeing. Virgin Pulse renders several services, such as employee engagement, employee productivity, corporate wellness programs, workplace wellness, and employee health.

  • Provant Health Solutions - Provant Health Solutions was acquired by Quest Diagnostics, Inc. on October 10, 2018. Hence, it is no longer an operating company as of December 31, 2018. Before the acquisition, it provided clinical research support services. It collaborated with several organizations and brokers to improve health and productivity. They provided customized services, such as health screening & coaching, incentive management, and healthcare advocacy. In addition, the company’s trained professionals provide services to government organizations and academic institutions.

  • EXOS - EXOS was previously known as Athletes’ Performance, an American LLC. Several subsidiaries are working under EXOS, namely Boost Physical Therapy & Sports Performance, Core Performance, LLC, Exos Advisors, LLC, MediFit Corporate Services, Inc., and EXOS Physical Therapy and Sports Medicine, LLC. It has a huge client base including various Fortune 100 companies, healthcare companies, and military & government organizations. They provide fitness & sports training, athletic training, corporate wellness services, and consultation services.

  • Marino Wellness - Marino Wellness was founded by Carly Healy. Its vision revolves around keeping employees healthy, fit, and happy. It is a sole proprietorship that provides corporate wellness strategies. Marino Wellness specializes in boutique corporate wellness, onsite fitness experience, wellness concierge, one-on-one health coaching, and ergonomics. Their team consists of nutrition, wellness and fitness professionals.

  • Privia Health - Privia Health is a physician practice management that collaborates with top doctors. Its parent organization is Brighton Health Services Holdings Corp and its subsidiary is Annandale Family Medicine, P.C., LLC. It provides services, such as health & wellness, population health, disease management, corporate wellness, and disruptive technologies. Privia Health uses advanced technologies and special wellness programs to keep their clients healthy.

  • Vitality - Vitality is a provider of services, such as behavior change, physical activity, health promotion, corporate wellness, retention, medical assistance, and employee engagement. It collaborated with several wearable technology makers-such as the Apple Watch Series 3-to monitor the physical activities of employees. Vitality Group assesses, improves, tracks, and rewards employees for improvements. Its four-step process aims at improving and motivating employees. Their Vitality Age Assessment goes through over 13 risk factors and then converts them into an individual’s clinical risk-related age.

  • Wellsource, Inc. - Wellsource, Inc. offers computerized Health Risk Assessment (HRA) and health coaching products. It promotes a healthy lifestyle and offers its services to several organizations. It specializes in HRA, health & wellness content, and online platforms. It provides NCQA-certified assistance to meet the needs of their clientele. Wellsource, Inc.’s latest advancement-WellSuite IV-offers a unique experience to employees. This technology identifies various health risks, offers preventive solutions, and helps in tracking progress.

  • Central Corporate Wellness - Central Corporate Wellness offers services that are customeroriented and add value. It aims at performing health screening activities to detect and prevent any chronic disease. Their focus is to create a healthy, happy, and productive workforce. Central Corporate Wellness Clinics are available for their clients every day, including weekends and public holidays. They also offer personalized services for their clients. It is present in 7 locations, namely, Bedok, Clementi, Hougang, Jurong, Pasir Ris, Woodlands, and Yishun.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Corporate Wellness Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Corporate Wellness Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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