Chat with us, powered by LiveChat
Procurement Resource Thumbnail Book Image

Global Corporate Health and Wellness Management Industry Report: Country Overview; Recent Events; Value Chain Analysis; Production Process; Indicator Analysis; Market Dynamics: Drivers & Constraints, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Corporate Health and Wellness Management Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Corporate Health and Wellness Management market reached a value of about USD 61 billion in 2021. The industry is projected to grow at a CAGR of around 5.5% in the forecast period of 2022-2027 to reach a value of about USD 86 billion by 2027.

The global Corporate Health and Wellness Management industry report give a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is primarily driven by the growing awareness of health among working individuals and employers. North America is the highest category spender by region, driving the demand for the Corporate Health and Wellness Management industry.

Industry Definition and Segmentation

A corporate wellness programme refers to any activity or organisational policy to encourage healthy behaviour and improve health outcomes in the workplace. Health education, medical exams, weight control programmes, and on-site exercise programmes or facilities are all standard components of workplace wellness. The Corporate Health and Wellness Management industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

North American Region is Driving the Growth of the Industry

North America holds the largest share in the industry as the United States accounted for the greatest market share due to stress being a significant health problem among Americans. In addition, the region's growing corporate firms and greater awareness among corporate owners about their employees' health benefits are further boosting the market growth.

The market is driven by the growing rate of chronic illnesses among working individuals. Factors like hectic work schedules have resulted in a lack of mental and physical activities, leading to health issues propelling the demand in the sector. Extensive work hours, workloads, and pressure-related concerns have medical and emotional consequences, such as hypertension, heart attacks, and stress among employees, thus resulting in an increased demand for management. Also, favourable government regulations and the introduction of comprehensive insurance plans encouraging telemedicine to improve public health are driving the market growth. Other factors, including raising public awareness of health issues and significant advances in healthcare infrastructure, are likely to impact the market positively.

However, the high cost of outsourcing such programmes or services is expected to stifle the market's development

Best Procurement Practices

The global Corporate Health and Wellness Management industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Corporate Health and Wellness Management regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Workplace wellness programmes can be classified into primary, secondary, or tertiary preventive measures. Direct prevention programmes target a relatively healthy employee demographic and urge them to engage in healthy habits that promote long-term good health (such as stress management, exercise, and healthy eating). Secondary prevention initiatives aim to lower risky behaviour that can lead to ill health (such as smoking cessation programmes and screenings for high blood pressure). In tertiary health programmes, existing health concerns are addressed in tertiary health programmes (by encouraging employees to adhere to a specific medication or self-managed care guidelines).

Developments in the Sector, Further Boosting the Corporate Health and Wellness Management Market

The industry is being aided by the increasing focus on employee well-being leading to various developments in the industry. Buyers spend roughly 5–10% of their overall benefits budget on technology to boost employee engagement and enrollment, resulting in cost savings. Web-based decision-making analytics tools for calculating health savings accounts are on the rise furthering the market's potential. The programmes are distributed through various channels, including workplace rules, instructional resources, and digitalised programmes offered through an app or other wellness platform. Personalised stress management solutions are becoming increasingly popular in corporate culture, boosting market development.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Corporate Health and Wellness Management Industry Report

  • Optum Inc.
  • LifeWorks Inc.
  • ComPsych Corporation
  • Fitbit Inc.
  • Workplace Options

Market Landscape

The global corporate wellness industry is crowded, with only a few prominent participants. Some market participants are growing to accommodate and serve more significant groups of workers. Many companies are concentrating on expanding to incorporate in-house corporate wellness offerings, driving the market. Some industry participants are focused on growth to serve and accommodate more significant groups of employees.

Key Initiatives by Companies

  • Quantum CorpHealth Pvt Ltd, a health tech firm, built three new offices in India (Bengaluru, Pune, and Hyderabad) in February 2022 to address the country's rapidly growing need for health and wellness services for corporate personnel and their families.
  • Wellness Labs, a collaborative learning platform for senior HR professionals, focusing on changing work environments during and post-pandemic, was launched by mental wellness firm Mindhouse in December 2020.

1.    Executive Summary
2.    Corporate Health and Wellness Management Market Snapshot

    2.1.    Corporate Health and Wellness Management Market Outlook
    2.2.    Region Overview
        2.2.1.    North America
        2.2.2.    Asia Pacific
        2.2.3.    Europe
        2.2.4.    Latin America
        2.2.5.    Middle East and Africa
3.    Impact of Recent Events 
4.    Corporate Health and Wellness Management Value Chain Analysis 
5.    Corporate Health and Wellness Management Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Corporate Health and Wellness Management Cost Structure
9.    Corporate Health and Wellness Management Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Corporate Health and Wellness Management Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    Swot Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New Entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Industry Best Practices
    13.1.    Sourcing strategy
    13.2.    Procurement Model
    13.3.    Contract Structure
    13.4.    Negotiation Levers
    13.5.    Pricing Model
    13.6.    Key Factors Influencing the Quotation 
14.    Key Supplier Analysis
    14.1.    Optum Inc.
    14.2.    LifeWorks Inc.
    14.3.    ComPsych Corporation
    14.4.    Fitbit Inc.
    14.5.    Workplace Options

Request Sample
Key Questions Answered in the Report

The global Corporate Health and Wellness Management market size was valued at USD 61 billion in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 5.5%.

The significant demand for employee health programmes that can help reduce work stress is one of the essential drivers of the Corporate Health and Wellness Management market growth.

Optum Inc., LifeWorks Inc., ComPsych Corporation, Fitbit Inc., and Workplace Options are some of the major players in the market.

The North American region of the Corporate Health and Wellness Management industry holds the major share in the market.

Analyst Review

The global Corporate Health and Wellness Management market attained a value of USD 61 billion in 2021, driven by the growing rate of chronic illnesses among working individuals. Other factors, including raising public awareness of health issues and significant advances in healthcare infrastructure, are likely to impact the market positively. Aided by the growing focus on employee well-being led to various developments in the industry. The market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.5%. The market is projected to reach USD 86 billion by 2027. Some of the leading players in the industry are Optum Inc., LifeWorks Inc., ComPsych Corporation, Fitbit Inc., and Workplace Options.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

Compare test & Choose the Right Report Version for You

Why Procurement Resource?

RIGHT PEOPLE

At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.

RIGHT METHODOLOGY

We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.

RIGHT PRICE

Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.

RIGHT SUPPORT

Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.

Similar Reports
Global HEOR Service Industry Report: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.

Read More
Global Nutmeg Industry Report: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global nutmeg market reached a value of about 134 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 4.5% in the forecast period of 2022-2027 to reach a value of around 167 thousand tonnes by 2027.

Read More
Global Artificial Intelligence Market: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global Artificial Intelligence Market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.

Read More

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences which help us to enhance our services. For further information review our Privacy Policy