Workplace Wellness Market to Reach Valuation of $74.00 Billion by 2026 at 6.1% CAGR

Increase in prevalence of chronic diseases, and surge in awareness and implementation of wellness programs by employers drive the growth of the global workplace wellness market


Portland, OR, Aug. 25, 2020 (GLOBE NEWSWIRE) -- According to the report, the global workplace wellness industry was estimated at $46.08 billion in 2018 and is expected to hit $74.00 billion by 2026, registering a CAGR of 6.1% from 2019 to 2026.

Rise in incidence of chronic diseases, and increase in awareness and implementation of wellness programs by employers are the prime factors fueling the growth of the global workplace wellness market. On the other hand, huge costs levied to the respective companies curb the growth to some extent. Nevertheless, untapped developing economies are expected to create a plethora of opportunities in the near future.

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Covid-19 scenario:

  • The demand for workplace wellness from the all industry has experienced a huge growth to encourage health and safety of employees with Covid-19 impact.
  • The supply, demand of workplace wellness affected by lockdown as it comes under the category of essential factors.

Based on type, the health screening and assessment segment, contributed to more than one-fourth of the global workplace wellness market share in 2018, and is expected to dominate throughout the forecast period. This is attributed to the fact that most of the companies are focusing toward health screening and assessment programs. On the other hand, the weight management and fitness services segment would showcase the fastest CAGR of 7.4% during 2019–2026. This is due to increase in incidence of obesity across the globe.

Based on end-user, the large-size companies segment accounted for more than one-fourth of the global workplace wellness market revenue in 2018, and is projected to lead the trail by the end of 2026. The fact that large size companies have more budget to spend on workplace wellness programs has boosted the segment growth. Simultaneously, the mid-size companies' segment is anticipated to register the fastest CAGR of 7.0% during the study period. Increased adoption of wellness programs by mid-size companies has driven the growth.

Based on geography, North America held the major share in 2018, generating nearly two-fifths of the global workplace wellness market, owing to the presence of major workplace wellness service providers and better healthcare and medical infrastructure in the region. The same region would also cite the fastest CAGR of 6.5% till 2026.

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Leading market players analyzed in market such as Wellness Workplace Solutions, ComPsych, FitLinxx, HealthifyMe, Truworth Wellness, Central Workplace Wellness, Marino Wellness, Privia Health, and Wellsource are provided in this report. Other key players not included in the report are Sonic Boom Wellness, Zeel, WellSteps, Kinema Fitness, Premise Health, TotalWellness Health among others.

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