Increasing Incidence Of Chronic Diseases To Drive Corporate Wellness Market Beyond $100 Billion Value By 2030

By Author: Pramod Kumar
Total Articles: 97
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The outbreak of the COVID-19 infection has made many organizations adopt the work-from-home policy as this policy allows them to maintain business productivity as well as protect their employees from the disease. Moreover, the imposition of strict social distancing protocols and countrywide lockdowns by the governments of several countries further boosted the popularity of the remote working policy across the world. As a result, corporate wellness programs at workplaces came to a halt, impeding the growth of the corporate wellness market. However, the surging incidence of mental health conditions among employees, due to social isolation and the lack of work-life balance, is making many companies focus heavily on corporate wellness programs. This factor is predicted to fuel the expansion of the market in the future.

Depending on service type, the corporate wellness market is classified into smoking cessation, health risk assessment, fitness, health screening, stress management, and nutrition & weight management. Out of these, the health risk assessment category contributed the highest revenue to the market in 2020. ...
... Health risk assessment, which is also known as wellbeing assessment or health risk appraisal, is a typical screening tool. It is generally used during the first stage of multi-component health promotion programs at workplaces.

Globally, North America dominated the corporate wellness market in 2020, primarily because of the high incidence of cardiovascular diseases, on account of the poor dietary habits and sedentary lifestyles of people in the region. Many businesses based in North America are also rapidly becoming aware of the rising prevalence of such diseases among their employees and are, therefore, launching wellness programs to fight it.

Many players operating in the corporate wellness industry have announced partnerships with each other over the last decade. For example, Accenture PLC launched a partnership with Thrive Global and Stanford Medicine in October 2020 for developing the Thriving Mind program for its employees. This program is basically a self-directed learning experience that prioritizes the mental wellbeing of employees.

Browse detailed report Corporate Wellness Market - Global Industry Revenue Estimation Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/corporate-wellness-market-outlook

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.