Workplace/Corporate Wellness Market to Reach $66.20 Bn, Globally, by 2027 at 5.9% CAGR: Allied Market Research

- Increase in prevalence of chronic diseases and rise in awareness & implementation of wellness programs by employers drive the growth of the global workplace wellness market

PORTLAND, Ore., Oct. 27, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Workplace Wellness Market by Type (Weight Management & Fitness Services, Nutrition & Dietary Plan, Stress Management Services, Health Screening & Assessment, and Smoking Cessation) and End User (Large-Size Organizations, Mid-Size Organizations, Small-Size Organizations, Public Sector, and NGOs): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global workplace wellness industry generated $49.81 billion in 2019, and is expected to garner $66.20 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027.

Download Detailed COVID-19 Impact Sample Report at: https://www.alliedmarketresearch.com/request-for-customization/6300?reqfor=covid

Drivers, restraints, and opportunities

Increase in prevalence of chronic diseases and rise in awareness & implementation of wellness programs by employers drive the growth of the global workplace wellness market. However, massive cost to companies hinders the market growth. On the other hand, untapped potential in emerging countries presents new opportunities in the coming years.

Covid-19 Scenario

• In order to adapt to the situation arisen due to pandemic and reform budget allocations to survive the economic turbulence, some companies have been reducing costs allocated to workplace wellness.
• With the pandemic outlining the importance of health, many organizations have been reforming physical and mental health policies to prioritize employees' health.
• As companies have adopted "work from home" policies, there has been an increase in implementation of telemedicine by employees to maintain health.

The health screening and assessment segment to continue its leadership status by 2027

Based on type, the health screening and assessment segment held the highest market share in 2019, contributing to more than one-fourth of the global workplace wellness market, and is projected to continue its leadership status during the forecast period. This is attributed to focus of employers on maintaining employees' health and conducting standard tests such as total cholesterol, HDL (high-density lipoproteins), LDL (low-density lipoproteins), triglycerides, glucose, and body composition. However, the stress management services segment is projected to witness the highest CAGR of 6.6% from 2020 to 2027, owing to surge in workload at offices, which resulted in excess stress, anxiety, depression, and headaches.

The large organizations segment to maintain its lead throughout the forecast period

Based on end user, the large organizations segment accounted for the largest share of the market, contributing to more than two-fifths of the global workplace wellness market in 2019, and is expected to maintain its lead throughout the forecast period. Moreover, this segment is projected to grow at the fastest CAGR of 6.3% from 2020 to 2027. This is due to the presence of huge number of workers in such organizations and availability of budgets to spend on employee wellness programs. The report also analyzes segments including mid-size organizations, small organizations, NGOs, and public sector.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6300

North America to maintain its dominant share in terms of revenue by 2027

Based on region, North America accounted for the highest market share with more than one-third of the global workplace wellness market in 2019, and is expected to maintain its dominant share in terms of revenue by 2027. This is attributed to presence of major service providers along with improved healthcare and medical infrastructure. Moreover, surge in incidences of cancer and chronic diseases are the factors responsible for highest revenue generation. However, LAMEA is projected to register the highest CAGR of 7.3% during the forecast period. This is due to increase in awareness among people regarding workplace wellness programs and surge in expenditure on healthcare in the region.

Leading market players

• Fitbit
• Novant Health
• EXOS
• Virgin Pulse
• Vitality Health
• ComPsych
• HealthifyMe
• MDVIP
• Marino Wellness
• WorkStride

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of COVID-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

Similar Reports:

Healthcare App Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

Healthcare Payer Solution Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

IoT in Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Clinical Nutrition Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Blood Bank Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Anti-Viral Therapies Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Disposable Syringes Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg