Dublin, Feb. 28, 2018 (GLOBE NEWSWIRE) -- The "Corporate Wellness Market in US - Industry Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

This market research report on corporate wellness market in US offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis.

The market study also includes insights on segmentation by delivery model (onsite and offsite), by program (HRA, nutrition and weight management, smoking cessation, fitness services, alcohol and drug rehab, stress management, health education services, and others), by end-user (large private sector businesses, medium private sector businesses, public sector companies, small private sector businesses, non-profit organizations), and by revenue model (recurring revenues and seasonal revenues).

Corporate Wellness Market in US - Overview

The growing requirement for healthy eating habits, exercise, the high prevalence of obesity, and reduction of insurance and healthcare costs are some of the major factors driving the growth of the corporate wellness market in US. The increasing focus on work-life balance and implementation of company-wide employee-centric healthcare campaigns that offer lifestyle coaching and benefits will revolutionize the corporate wellness market in the region.

The leading vendors are leveraging digital technology to host virtual screenings and give information through company portals to attract more consumers and gain a larger market share. Financial wellness programs are gaining immense popularity in the US market. These programs are designed to offer resources and tools that provide support to the employees. The financial programs part of the corporate wellness programs offers debt management tools, financial counseling, mortgages, income protection, student loan counseling, budgeting education, and repayment assistance.

The prominent players are launching integrated programs that provide information on health assessment, goal setting, and performance tracking. These platforms can be monitored from tied in apps, and it offers a comprehensive snapshot of the effectiveness of the program at an employee level. The introduction of such platforms will promote the growth of the corporate wellness market in US generating revenues of over $13 billion by 2023 and is expected to grow at a CAGR of more than 8% during the forecast period.

Corporate Wellness Market in US Segmentation

This market research report includes a detailed segmentation of the market by delivery model, program, end-user, and revenue model.

Corporate Wellness Market in US - By Program

Preference for preventive care to boost the growth of HRA segment in the corporate wellness market in US.

The corporate wellness market in US by programs is segmented into HRA, nutrition and weight management, smoking cessation, fitness services, alcohol and drug rehab, stress management, health education services, and others. The HRA program dominated the market occupying over 17% of the total market share in 2017 and projected to grow at a CAGR of more than 7% during the forecast period.

The rapid increase in healthcare cost is fueling the popularity of preventive care thereby driving the growth of the HRA market segment. The market is also observing the trend of syncing HRA participation with health insurance premiums. The employees are using this incentive for HRA completions and participation in biometric screenings and physical activity programs. Additionally, the introduction HRA programs that are integrated with other methods and customization will drive the growth of this segment in the corporate wellness market in US.

Market Dynamics

Market Growth Enablers

  • Evolution of Value Proposition
  • Longer Work Days and Weeks
  • Broad Shift in Perspective of Wellness
  • Corporate Wellness Programs fill in for Limiting US Healthcare System
  • YOY Impact of Market Growth Enablers

Market Growth Restraints

  • Constant Struggle for Employee Engagement and Participation
  • Perceived Expensiveness of Wellness Programs
  • Wariness Regarding Misuse of Data
  • Counterproductive to Employee Health
  • Increased Sense of Anxiety
  • YOY Impact of Market Growth Restraints

Market Opportunities & Trends

  • Increased Incorporation of Incentives
  • Data Analytics Increasingly Powering Wellness
  • Use of Technology to Improve Outcomes
  • Growing Reign of Artificial Intelligence
  • Extension of Wellness Programs to Family
  • YOY Impact of Market Opportunities & Trends

Key Vendor Analysis

The major vendors in the US market are:

  • Compsych
  • Wellness Corporate Solutions
  • Virgin Pulse
  • Provant Health Solutions

Other prominent vendors include:

  • Beacon Health Options
  • Ceridian
  • Exos
  • Marino Wellness
  • OptumHealth
  • Privia Health
  • The Vitality Group
  • Wellsource
  • Wisdom Works Group
  • WorkStride

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Report Coverage

5 Report Assumptions & Caveats

6 Market at a Glance

7 Introduction

8 Overview Of Corporate Wellness

9 Market Dynamics

10 Corporate Wellness Market in the US

11 Corporate Wellness in The US By programs

12 Corporate Wellness In The US By End-User

13 Corporate Wellness In The US By Revenue Model

14 Corporate Wellness In The US By Delivery Model

15 Competitive Landscape

16 Market Vendor Analysis

17 Key Company Profiles

18 Other Prominent Vendors

19 Report Summary

20 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/3nh7g4/united_states?w=12

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