Workplace Wellness Market Predicted to Grow at 5.9% CAGR, Reaching USD 66.20 Billion by 2027
The Global Workplace Wellness Market was estimated at $46.08 billion in 2018 and is expected to hit $74.00 billion by 2026, registering a CAGR of 6.1% from 2019 to 2026.
The workplace wellness market refers to the market for programs, services, and initiatives aimed at promoting the health, well-being, and overall wellness of employees in the workplace. These programs are designed to improve physical health, mental well-being, and work-life balance, ultimately enhancing employee productivity, engagement, and satisfaction.
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Rise in incidence of chronic diseases, and increase in awareness and implementation of wellness programs by employers are the prime factors fueling the growth of the global workplace wellness market. On the other hand, huge costs levied to the respective companies curb the growth to some extent. Nevertheless, untapped developing economies are expected to create a plethora of opportunities in the near future.
๐๐ก๐ ๐ก๐๐๐ฅ๐ญ๐ก ๐ฌ๐๐ซ๐๐๐ง๐ข๐ง๐ ๐๐ง๐ ๐๐ฌ๐ฌ๐๐ฌ๐ฌ๐ฆ๐๐ง๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฅ๐๐๐ ๐ญ๐ก๐ ๐ญ๐ซ๐๐ข๐ฅ ๐๐ฒ ๐๐๐๐-
The health screening and assessment segment, contributed to more than one-fourth of the global workplace wellness market share in 2018, and is expected to dominate throughout the forecast period. This is attributed to the fact that most of the companies are focusing toward health screening and assessment programs. On the other hand, the weight management and fitness services segment would showcase the fastest CAGR of 7.4% during 2019-2026. This is due to increase in incidence of obesity across the globe.
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๐๐ก๐ ๐ฅ๐๐ซ๐ ๐-๐ฌ๐ข๐ณ๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐ฉ๐๐ซ๐ข๐จ๐-
The large-size companies segment accounted for more than one-fourth of the global workplace wellness market revenue in 2018, and is projected to lead the trail by the end of 2026. The fact that large size companies have more budget to spend on workplace wellness programs has boosted the segment growth. Simultaneously, the mid-size companiesโ segment is anticipated to register the fastest CAGR of 7.0% during the study period. Increased adoption of wellness programs by mid-size companies has driven the growth.
๐๐จ๐ซ๐ค๐ฉ๐ฅ๐๐๐ ๐๐๐ฅ๐ฅ๐ง๐๐ฌ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
ComPsych
HealthifyMe
Privia Health
Wellsource
FitLinxx
Truworth Wellness
Wellness Workplace Solutions
Central Workplace Wellness
Marino Wellness
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- By type, the health screening & assessment segment dominated the workplace wellness market in 2019. This is attributed to increase in adoption of these health screening & assessment programs by most of employers worldwide to improve health fitness of their employees. However, the stress management services segment is anticipated to grow at the fastest growth rate during the forecast period.
- By end user, the large-size organizations segment dominated the market in 2019, and is anticipated to maintain its dominance during the forecast period. This is attributed to the fact that large-size organizations have more workforce strength. This segment is anticipated to grow at the fastest growth rate during the forecast period
- North America accounted for the largest share in the global workplace wellness market.
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