Global Corporate Wellness Market, By Service (Health Risk Assessment, Nutrition and Weight Management, Fitness Services, Smoking Cessation, Alcohol and Drug Recovery, Stress Management, and Others), By Category of Organization (Large Private Sector Companies, Mid-Size Private Sector Companies, and Small Private Sector Companies), By End User (Employees and Dependents), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 55.95 Billion in 2023 and is expected to exhibit a CAGR of 4.7% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new services. For instance, in May 27, 2022, Multiply Group, a technology-focused holding company based in Abu Dhabi, launched a holistic workplace wellness program, as a part of their ESG commitments, which will promote work life balance.
Global Corporate Wellness Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of things from one place to another.
COVID-19 had a negative impact on the global corporate wellness market. For instance, according to the data published by the Sage Journal on August 17, 2022, the COVID-19 pandemic has dramatically altered the way people work and do things. This brings along several uncertainties that disturb work and workers which eventually represent major sources of stress, threatening individual, and organizational health and well-being.
Global Corporate Wellness Market: Key Developments
On June 5, 2023, Fazlani Nature’s Nest launched a Corporate Wellness Program for corporate travelers and clients. The program offers an immersive wellness getaway that is strategically planned to foster an optimal team-building experience in an inspiring setting.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Corporate Wellness Market”- Forecast to 2030, By Service (Health Risk Assessment, Nutrition and Weight Management, Fitness Services, Smoking Cessation, Alcohol and Drug Recovery, Stress Management, and Others), By Category of Organization (Large Private Sector Companies, Mid-Size Private Sector Companies, and Small Private Sector Companies), By End User (Employees and Dependents), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/corporate-wellness-market-2062
Key Takeaways of the Global Corporate Wellness Market :
- The global corporate wellness market is expected to exhibit a CAGR of 4.7% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global corporate wellness market.
- Among the category of organizations, the large private sector companies segment is expected to hold a dominant position in the global corporate wellness market during the forecast period and this is attributed to the increasing adoption of wellness programs by these companies.
- Among region, North America is expected to be the dominant region in the global corporate wellness market, owing to the key players focusing on organic strategies to launch new services. For instance, in June 22, 2021, Peloton, a wellness services provider, announced the launch of a corporate wellness program as it aims to reach new users and grow its membership base.
- Major players operating in the Global Corporate Wellness market are Wellness Corporate Solutions, ComPsych Corporation, United Health Group, Sodexo, BupaWellness Pty Ltd, Recovre Group, Central Corporate Wellness, Truworth Wellness, CXA Group Pte. Limited, SOL Wellness, ComPsych Corporation, Virgin Pulse, Inc, Interactive Health, Inc., and ConneXions Asia.
