Global Corporate Wellness Market Report 2022: Market to Reach $90.4 Billion by 2026 - AI Emerges as the Wellness Expert in the Corporate Space

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May 16, 2022, 15:30 ET

DUBLIN, May 16, 2022 /PRNewswire/ -- The "Corporate Wellness - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Corporate Wellness Market to Reach US$90.4 Billion by the Year 2026

Amid the COVID-19 crisis, the global market for Corporate Wellness estimated at US$70.1 Billion in the year 2022, is projected to reach a revised size of US$90.4 Billion by 2026, growing at a CAGR of 6.8% over the analysis period.

Health Risk Assessment, one of the segments analyzed in the report, is projected to grow at a 6.5% CAGR to reach US$20.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fitness segment is readjusted to a revised 6% CAGR for the next 7-year period. This segment currently accounts for a 12.9% share of the global Corporate Wellness market.

Workplace stress is an often neglected, silent factor that holds negative implications for worker productivity and health. Job stress has rapidly emerged as a major public health crisis and formidable threat for worker health, with detrimental effects on organizations. Workplace stress has increased gradually over the last several decades and represents the primary source of stress in adults. Workplace stress bears a close correlation with worker health and organizational performance.

The U.S. Market is Estimated at $27.2 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026

The Corporate Wellness market in the U.S. is estimated at US$27.2 Billion in the year 2022. The country currently accounts for a 38.79% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 8.2% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR while Rest of European market (as defined in the study) will reach US$10.2 Billion by the end of the analysis period.

Smoking Cessation Segment to Reach $14.9 Billion by 2026

Cigarette addiction worldwide is expected to increase despite organizations and governments across the globe trying to spread awareness over the harmful effects of tobacco, imposition of high taxes on various tobacco products with an aim to reduce their usage, and approving tobacco products that are less harmful and innovative as a suitable substitute to traditional cigarettes.

Millions of people worldwide are suffering from various diseases and ailments caused due to smoking with COPD being the chief killer disease. With many of the younger workforce vulnerable, the scenario is throwing the spotlight on the importance of workplace smoking cessation programs.

In the recent years, an increasing number of organizations have started focusing on smoking cessation programs at workplaces for assisting employees in improving their health and eventually boosting the bottom line by pushing productivity and saving on healthcare costs. Smoking cessation programs assist smokers in selecting and receiving the right medication such as lozenge, gum or patches to reduce craving and mitigate withdrawal symptoms. In the global Smoking Cessation segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$9.1 Billion will reach a projected size of US$13.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2026.

What's New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the publisher's digital archives and Research Platform
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Workplace Stress: The Silently Emerging Public Health Crisis & the Biggest Threat for Employee Health in the 21st Century
Health & Economic Consequences of Workplace Stress
How Corporate Wellness Programs Can Help?
COVID-19 Pandemic Amplifies Work Related Stress Making Corporate Wellness More Important Now Than Ever
Wellness Becomes a Bigger Priority for Companies Amid the Pandemic
Here's Why Exercise & Fitness Amid the Pandemic Should Take Precedence in Corporate Wellness Programs
The Never-Ending "Race" Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, What is the Pandemic Prognosis & Where is the World Economy Heading Now & Beyond?
With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking Amid Waning Vaccine Immunity. But How Practical Is It to Implement Them?
At the Dawn of 2022 After Numerous New Strains & Millions of Deaths, Challenges in Vaccine Production, Supply, Access & Technology Sharing Continue to Remain
Split Scenarios Unfold: The Great Vaccine Divide Emerges
Corporate Wellness Programs: What Are They? Why Are They Important & What Benefits Do They Offer?
Recent Market Activity
World Brands

2. FOCUS ON SELECT PLAYERS Select Competitors (Total 164 Featured)

ADURO, INC.
Beacon Health Options, Inc.
Bupa Wellness Pty Ltd
Central Corporate Wellness
ComPsych Corporation
EXOS
Fitbit Health Solutions
HealthifyMe Wellness Private Limited
LifeWorks Inc.
Marino Wellness
Privia Health, LLC
Sodexo Group
The Vitality Group, Inc.
Truworth Health Technologies Pvt. Ltd
Virgin Pulse, Inc.
Well Nation
Wellness Corporate Solutions
Wellsource, Inc.

3. MARKET TRENDS & DRIVERS

Healthcare Costs Continue to Spiral, Growing Much Faster Than National GDP
Rising Employers' Health Costs Underlines the Importance of Well Drafted & Managed Wellness Programs
The Pandemic Pushes Up Healthcare Costs Even Higher Forcing Companies to Strategize on Wellness Programs to Contain Costs
Negative Impact of Employee Absenteeism on Corporate Balance Sheet Drives the Focus Squarely on Wellness Programs
Widely Prevalent Nicotine Addiction & Abuse Encourages Companies to Implement Innovative Smoking Cessation Programs
Rise in Chronic Diseases Makes Health Risk Assessment, Fitness & Health Screening Important Aspects of An Effective Wellness Program
COVID-19 Experience Will Drive Increased Adoption of New Infectious Disease Testing, Tracking & Employee Health Screening Tools
COVID-19 Accelerates Telemedicine's Natural Fit into Corporate Wellness Strategies
Globesity: The Global Epidemic of Obesity Forces Companies to Include Nutrition & Weight Management as Part of Wellness Programs
Workplace Fitness Center & Onsite Gyms Grow in Popularity
Cafeterias Wellness Programs: A Vital Part of Obesity Management at the Workplace
Remote Wellness in the Age of Work from Home (WFM) Gains in Significance
Mental Health As Part of Corporate Wellness Programs Gains Sudden Popularity Amid the COVID-19 Pandemic
Mental Health Apps As Part of Corporate Wellness Programs Grow in Popularity
Innovation is the Key to Success of Corporate Wellness Programs
VR Relaxation Pods - A Key Innovation in Wellness
AI Emerges as the Wellness Expert in the Corporate Space

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/28k22t

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