Wearable technology is emerging as a key trend in the corporate well-being market. Employees are increasingly using devices such as the FitBit Blaze smart fitness clock to track vital signs during company wellness programs. To keep up with this trend, some companies have begun to provide employees with wearable technology devices. As a result, the corporate wellness market forecasts that the market will grow at an annual average of about 5% over the forecast period.
The global corporate wellness market is steadily growing, and the penetration rate of corporate wellness services is increasing, with an emphasis on increasing healthcare costs, increasing corporate profits, and retaining employees. In addition, emerging economies such as India and China are leading the market with growing demand for corporate wellness services. This corporate wellness market analysis is seen as a key driver of corporate wellness market growth in order to reduce rising healthcare costs. The organization provides employee health benefits such as prescription drug subsidies, health insurance, and premium reimbursement. As the incidence of chronic diseases and obesity increases, the cost of treatment increases and therefore the cost increases. To overcome this, we address the benefits of corporate wellness programs that enable employees to maintain healthy lives, reduce stress, increase productivity, and ultimately drive growth in the wellness market in diverse organizations.
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Emerging product trends, major drivers, challenges and opportunities in the market are identified and analysed apparently while generating this Corporate Wellness report. It helps customers or other market participants to be aware of the problems they may face while operating in the Corporate Wellness industry over a longer period of time. The market data is analysed and forecasted using well established market statistical and coherent models. The Corporate Wellness report is generated based on the market type, size of the organization, availability on-premises, the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
The report also discusses key drivers for market growth, opportunities, challenges and risks facing key manufacturers and markets as a whole. It also analyzes key emerging trends and their impact on current and future development.
Some Of The Key Players In Corporate Wellness Market Are
- Well Nation
- Virgin Pulse
- Provant Health Solutions
- Kinema Fitness
- Karelia Health
- Marino Wellness
- Premise Health
- Wellness Corporate Solutions
Market Segment by Type, covers
- Health Risk Assessments
- Nutrition and Weight Management
- Smoking Cessation
- Fitness Services
- Alcohol and Drug Abuse Services
- Stress Management
- Health Education Services
- Other Services
Market Segment by Applications, can be divided into
- Large private sector businesses
- Midsize private sector businesses
- Small private sector businesses
- Public sector
- Nonprofit organizations
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Geographically, the global corporate wellness market is divided into five key regions: North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America and Europe constitute a leading share of the global corporate wellness market followed by Asia Pacific, Latin America, the Middle East and Africa. The United States led the corporate wellness market in North America due to increased investment and adoption of corporate wellness services, rising health care costs, and the onset of chronic illness.
Major Table of Contents: Corporate Wellness Market
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Corporate Wellness Market, By Application
6 Global Corporate Wellness Market, By Airspeed
7 Global Corporate Wellness Market, By Solution
8 Global Corporate Wellness Market, By Alignment
9 Global Corporate Wellness Market, By Geography
10 Key Developments
11 Company Profiling
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key findings from the study suggest:
- The corporate wellness program aims to improve employee welfare and reduce the cost of absenteeism. Absence costs account for tremendous productivity and financial loss
- Also, employers have to pay mandatory health insurance costs, which increase the economic burden.
- The Health Risk Assessment segment led the overall market in terms of revenue share in 2017. Through health screening activities, employers were able to implement a strategic plan to address identified health risks
- The stress management sector is expected to show the fastest growth rate during the forecast period (2018-2022) due to preference for on-site yoga and meditation services
- Large organizations dominated the end-use sector in 2017. Advanced infrastructure makes it easier and more convenient to implement wellness services in large enterprises.
- Medium-sized organizations can experience the fastest growth over the forecast period due to increased adoption of health screening services.
- Healthcare providers have dominated the market in 2017. The Fitness & Nutrition Advisory Team is expected to witness the fastest growth from 2018 to 2022
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