Corporate Wellness Market (By Service: Health Risk Assessment, Fitness; By End Use; By Category; By Delivery Model: Onsite, Offsite) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global corporate wellness market was valued at USD 53.08 billion in 2022 and it is predicted to surpass around USD 82.35 billion by 2032 with a CAGR of 4.49% from 2023 to 2032.

Key Pointers

• The health risk assessment segment dominated the market in 2022 with a revenue share of 21.05%.
• The large-scale organizations with a share of 53.15% dominated the market in 2022.
• The organizations/ employers segment with 50.03% in 2022 accounted for the maximum portion of the market.
• The fitness & nutrition consultants segment is expected to exhibit fastest growth of 4.4% during the forecast period.
• On the basis of the delivery model, The onsite segment held the maximum market share of 56.44% in 2022. 
• The offsite segment is projected to witness lucrative growth of 5.08% during the forecast period.
• North America dominated the corporate wellness market and accounted for the largest revenue share of 39.48% in 2022.
• Asia Pacific is likely to witness an impressive growth rate of 5.38% during the forecast period.

Report Scope of the Corporate Wellness Market

Many businesses and enterprises in various industry verticals have started implementing health programs for their employees, which will boost the market demand. Health programs at the workplace help companies in augmenting productivity while reducing overall operational costs. Rising awareness regarding employee health and well-being is expected to drive the market for corporate wellness.

Corporate wellness programs include a set of policies, programs, and benefits addressing multiple risk factors and conditions and influencing both employees and the overall organization. According to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), in the U.S., corporate programs promoting well-being and health, and providing disease prevention plans can potentially influence more than 150 million employees reducing the cost of healthcare significantly.

Employees are encouraged to adopt a healthier lifestyle and help companies to enhance productivity and reduce costs, by ultimately improving employee well-being. The total costs related to lost productivity due to absenteeism related to illnesses are expected to cross USD 150 billion in the coming years. The increase in the overweight and obese population results in increased insurance costs, which places a financial strain on companies.

Additionally, market growth is being driven by an increase in the prevalence and early onset of chronic diseases, as well as a decrease in employee healthcare costs. Today's work culture means that the majority of individuals do not have enough time to engage in mental and physical activities after work or during their free time, resulting in health problems. Globally, chronic diseases are a significant threat, since the prevalence of many of these disorders continues to rise. For example, the World Health Organization (WHO) estimates that cancer will claim around 10 million lives by 2020.

Furthermore, according to the American Cancer Society's 2021 statistics, the global burden of cancer is anticipated to rise to 16.3 million cancer deaths and 27.5 million new cases by 2040. Similarly, heart diseases, obesity and diabetes are some of the chronic diseases that have afflicted many countries around the world as a result of an unhealthy and sedentary lifestyle, including many industrialized nations. As a result, the prevalence of numerous chronic diseases is increasing. These diseases, however, are avoidable. As a result, holistic approaches to workplace wellness programmes are in high demand to educate employees about the importance of building healthy habits and the advantages of sticking to fitness goals.

The COVID-19 pandemic has had a significant influence on employees' mental health. Following its inception, it resulted in the work-from-home transition, which caused significant stress among employees due to a sense of isolation. Due to the COVID-19 epidemic, businesses have discovered ways to physically protect and prioritize their employees by giving technical support to aid in the adoption of new leave policies. Employers' priorities have switched to preventive and constructive management, which includes assisting employees in adapting to new requirements.

Corporate Wellness Market Segmentations: