Portland, OR, Oct. 21, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global Corporate/Workplace Wellness Industry generated $49.81 billion in 2019 and is expected to reach $66.20 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027. The report provides a detailed analysis of changing market trends, top winning segments, key segments, value chain, market size & estimations, and competitive landscape.
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Increase in incidence of chronic diseases and surge in awareness and implementation of wellness programs by employers are the major factors driving the growth of the global workplace/corporate wellness market. However, huge costs levied to the respective companies impede the growth to certain extent. Moreover, untapped developing economies are projected to usher a number of opportunities for the market players.
- The downscaling of the employees in many organizations has immensely impacted the workplace wellness market growth negatively.
- On the other hand, the trend of remote working system has further affected the market, thereby declining the demand for workplace wellness programs.
The global workplace/corporate wellness market is categorized on the basis of type, end user, and region.
Based on type, the market is divided into weight management & fitness services, nutrition & dietary plan, stress management services, health screening & assessment, and smoking cessation. The health screening and assessment segment held largest market share, contributing to more than one-fourth of the global workplace wellness market share in 2019, and is expected to dominate throughout the forecast period. At the same time, the stress management services segment would showcase the fastest CAGR of 6.6% during the forecast period.
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Based on end-user, the market is segmented on the basis of large organizations, mid-size private organizations, small-size private organizations, public sector, and NGO. The large organization segment accounted for more than two-fifths of the global corporate wellness market revenue in 2019, and is projected to lead the trail by the end of 2027. In addition, the same segment is anticipated to manifest the fastest CAGR of 6.3% during the forecast period.
Based on geography, the market is analyzed across Asia-Pacific, Europe, LAMEA, and North America. The North America region held the highest share in 2019, accounting for more than one-third of the global market. At the same time, the market across LAMEA region is anticipated to portray the fastest CAGR of 7.3% in between 2020 to 2027.
The report also provides major key market players such as Fitbit, Novant Health, EXOS, Virgin Pulse, Vitality Health, ComPsych, HealthifyMe, MDVIP, Marino Wellness, WorkStride.
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