Corporate wellness solutions are the health promotion activity or organizational policy designed to support healthy behavior in the workplace and to improve health outcomes. These activities often comprise of health education, medical screenings, weight management programs, on-site fitness programs or facilities. Also, there is increase in the productivity and employee engagement. The implementation of a holistic approach to corporate wellness programs is an influential way to educate employees on the importance of creating healthy habits and the benefits of sticking to wellness goals. Creating the wellness programs also help in solving various workplace health risks arising from the consumption of unhealthy food and drinks, stress, lack of physical activity and more.

MARKET OUTLOOK

The corporate wellness solutions are focused as the employees spend a lot of time in the workplace and the rising awareness regarding the employee’s health and wellbeing has become of utmost importance The increasing prevalence of chronic disease in the region, mental health issues and increasing obesity among the population is driving the growth of the market. The U.S. dominates the regional corporate wellness market due to a steady rise in investments, adoption of corporate wellness services, escalating healthcare costs, and the rising incidence of chronic diseases. Also, the U.S. market is being driven by higher adoption of newly introduced corporate wellness plans for fitness, weight management, and nutrition.

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COVID IMPACT ON CORPORATE WELLNESS SOLUTION MARKET

The outburst of COVID led to the worldwide lockdown. This increased the demand for wellness solutions in order to maintain healthy lifestyle and mental state. The integration of wellness programs in the workplace become a bigger priority, especially as a way to make employees feel like they're still connected while working at home. The virtual care and consultations, especially for chronic disease management, on-demand online fitness programs, nutrition and weight management programs, mental/behavioral health programs, and substance abuse counseling services by text, audio, and video mode were rolled out by corporate wellness solutions providers. The overall effect of the COVID-19 pandemic on the corporate wellness solutions market appears to be positive, especially in developed markets like North America. 

UNITED STATES CORPORATE WELLNESS SOLUTION SEGMENTAL OVERVIEW

The market in United States for corporate wellness solution is segmented based upon the service offering; category, delivery mode, and end users.

UNITED STATES CORPORATE WELLNESS SOLUTION MARKET BASED UPON SERVICE OFFERINGS

The various segments of service offerings are health risk assessment, nutrition and weight management, smoking cessation, fitness services, biometric screening, alcohol/substance abuse services, mental/behavioral health management, virtual consultation/virtual care, employee assistance programs, and health benefits programs. Among these, the health risk assessment segment holds the highest market share owing to the utility of this service for early identification and mitigation health risks in employees, to reduce absenteeism due to health conditions, and lower healthcare costs. However, the stress management services segment is anticipated to grow at the fastest rate during the forecast period due to increasing stress, anxiety and work pressure among the employee’s.

UNITED STATES CORPORATE WELLNESS SOLUTION MARKET BASED UPON CATEGORY

The various segments of categories are fitness and nutrition consultants, organizations and psychological therapists. Among these, the organizations dominate the market and accounted for the largest revenue share in 2020 owing to increased adoption of different wellness programs and solution to maintain a healthy lifestyle of the employee’s. The increasing stress, anxiety and other lifestyle associated disease is making the organizations adopt wellness program, thus flourishing the market.

UNITED STATES CORPORATE WELLNESS SOLUTION MARKET BASED UPON DELIVERY MODE

On the basis of different delivery mode, the onsite delivery mode witnessed the highest revenue share and is projected to encounter the fastest growth over the forecast period owing to a personal touch offered to the employee’s wellbeing along with the facility to exercise under the guidance of trained coaches and fitness consultants to meet their personal health requirement. 

UNITED STATES CORPORATE WELLNESS SOLUTION MARKET BASED UPON END USER

On the basis of different end-users, the large scale organizations dominated the market and accounted for the largest revenue share in 2020 owing to the increasing investment in the health screening services. However, the small organizations segment is anticipated to grow at the highest CAGR during the forecast period. Growth in this segment is largely driven by the growing use of corporate wellness programs by these organizations due to the rising affordability and favorable payment models for small businesses.

UNITED STATES CORPORATE WELLNESS SOLUTION MARKET KEY PLAYERS

The various key players acting in the market are Centene Corporation, ComPsych, CVS health Corporation, LifeWorks, Inc., United Health Group, Virgin Group Ltd. ADURO Inc., Anthem Inc., Beacon Health Options, Central Corporate Wellness, Cerner Corporation, Cleveland Clinic, EXOS, Fitbit Inc., Marino Wellness, Privia Health, Provant Health Solutions, SOL Wellness, TELUS, Trueworth Wellness, Virgin Pulse, Vitality Group, Well Nation, Wellness Corporate Solution, Glisbar, MedCan Clinic.

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