COVID-19 Impact on workplace wellness Market to Grow at CAGR of 5.9% through 2027

The global workplace wellness market was valued at $49.81 billion in 2019, and is projected to reach $66.20 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027.

Workplace wellness programs are a harmonized set of health promotion strategies that are executed at worksites and include programs, policies, and certain benefits to the community designed to encourage health and safety of employees.

Wellness programs approach certain policies and interferences that address multiple risk factors and health conditions and plan strategies that may influence multiple organization levels, including individual employee behavior change, organizational culture, and worksite environment. Workplace wellness programs are considered as an important integral part of an organization or a company, which combines individual and organizational level strategies and interventions to influence health.

KEY MARKET PLAYERS: Fitbit, Novant Health, EXOS, Virgin Pulse, Vitality Health, ComPsych, HealthifyMe, MDVIP, Marino Wellness, WorkStride, FitLinxx, Truworth Wellness, Central Workplace Wellness, Workplace Solutions, Privia Health, Wellsource

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Significant increase in prevalence of chronic diseases across the globe and adoption of sedentary lifestyle are the major factors that drive growth of the workplace wellness market. In addition, economic benefits offered by these programs and rise in awareness and implementation of wellness programs by employers further propel the workplace wellness market growth.

KEY MARKET SEGMENTS

By Type

• Weight Management & Fitness Services

• Nutrition & Dietary Plan

• Stress Management Services

• Health Screening & Assessment

• Smoking Cessation

By End User

• Large-size organizations

• Mid-size organizations

• Small-size organizations

• Public sector

• NGOs

However, huge cost for companies to adopt workplace wellness plans is anticipated to hamper the market growth. Moreover, significant focus by the public and private sector of developing economies toward improvement in health of their employees is predicted to create lucrative opportunities in the future.

The workplace wellness is segmented on the basis of type, end user, and region. By type, it is divided into weight management & fitness services, nutrition & dietary plan, stress management services, health screening & assessment, and smoking cessation. On the basis of end user, it is categorized into large-size private organizations, mid-size private organizations, small-size private organizations, public sector, and NGO. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report provides an extensive competitive analysis and profiles of the key market players such as Fitbit, Novant Health, EXOS, Virgin Pulse, Vitality Health, ComPsych, HealthifyMe, MDVIP, Marino Wellness, WorkStride. Some of the others players considered are FitLinxx, Truworth Wellness, Central Workplace Wellness Workplace Solutions, Privia Health, and Wellsource.

KEY BENEFITS FOR STAKEHOLDERS

• This report entails a detailed quantitative analysis along with the current workplace wellness trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.

• The market forecast is studied from 2020 to 2027.

• The market size and estimations are based on a comprehensive analysis of key developments in the industry.

• A qualitative analysis based on innovative products facilitates strategic business planning.

• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

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