Corporate Wellness Market
Product Code :
29 October, 2020
Report Pages :
Automotive & Transportation
Publisher Name : Insights and Reports
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Global Corporate Wellness Market is majorly driven by the small and medium scale enterprises (SMEs), and large-scale organizations who are concerned towards the health and fitness aspect of their employees. Corporate wellness is a growing concern in the offices and corporate environments, which is also known as workplace wellness program. Prolonged sitting for long hour is one of the major factors to boost the corporate wellness programs, which leads to numerous health conditions such as weight gain, high blood pressure, diabetes, and chronic illness such as cardiovascular diseases among others. The body also suffers with various neck, shoulder, and back pain which tends to effect the work productivity and performance. Workplace wellness programs provides an universal approach towards the wellbeing of its employees by creating a healthy organizational culture which develops healthy outcomes, increase in productivity, optimization of human resource and increase employee engagement in the corporate world.
The corporate wellness programs are majorly driven by the various programs and promotions such as increasing awareness on health related topics, incorporating corporate policies that provides provision for health related goals of its employees, promoting smoking cessation and avoidance, food selection process among others are some of the major factors to boost the corporate wellness market share during the forecast period. According to South Asian Society on Atherosclerosis and Thrombosis (SASAT), worksite health programs helps to reduce 45 percent in absenteeism and other healthcare cost which are provided by the organizations. Corporate wellness programs provide various services which could be utilized by the employees, some of the major wellness services are health screening, which helps to identify health risks factors and implementing health strategies to build a better and healthy lifestyle, stress management, smoking cessation, nutrient management for weight checks and cholesterols, and total body fitness among others. Owing to these factors major traction is expected for the corporate wellness market size during the forecast period.
North America is expected to lead the corporate wellness market share throughout the forecast period from 2018 to 2025 due to increase in obesity levels in workplace and growing corporate cultures. According to National Center for Biotechnology Information (NCBI), in 2016, in U.S. the total cost of obesity for a worker is almost US$ 48billion per year. According to the State of Obesity, in 2017, there was an increase of 35 percent in obesity level in five states which are West Virginia, Arkansas, Louisiana, Mississippi, and Alabama, in other states there was an average increase of 28 to 30 percent from 2016. Thus, obesity among the working class of U.S. coupled with other factors such as hypertension, depression, long night shifts, and adverse working conditions among others is expected to drive the corporate wellness market size during the forecast period.
Major players operating in the field of corporate wellness market include EXOS, Provant Health, ComPsych Corporation, Wellness Corporate Solutions, Optum, Inc., BupaWellness Pty Ltd, Sodexo, Central Corporate Wellness, JLT Australia, TruworthWellness, among others.