Size of the $110.09 billion enterprise wellness solutions market, globally, by 2028 at a CAGR of 8.29%: Verified Market Research®

JERSEY CITY, NJ, January 19, 2022 /PRNewswire/ — Verified Market Research recently released a report, “corporate wellness solutions market“By product (cloud-based, on-premises), by end-user (large enterprise, small and medium-sized enterprise), and by geography. According to verified market research, the global enterprise wellness solutions market size was valued at $58.24 billion in 2020 and is expected to reach $110.09 billion by 2028, growing at a CAGR of 8.29% from 2021 to 2028.

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126 – Tables

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Overview of the global corporate wellness solutions market

Rising adoption of corporate wellness programs across organizations is one of the key factors driving the growth of the market over the forecast period. Employers can achieve higher benefits by aligning corporate wellness programs with their company’s mission. Health and wellness programs are considered important by employees when choosing an employer or organization. Corporate wellness programs have a positive effect on overall organizational culture. Employees prefer incentive-based wellness programs because incentives play an important role in motivating employees.

Additionally, the rising prevalence of chronic diseases across the globe is driving the overall growth of the corporate wellness solutions market. According to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), corporate wellness and health initiatives, as well as disease prevention plans, have the potential to influence more than 150 million of employees in United States, significantly reducing healthcare costs. Employers are also focusing on implementing wellness programs targeting easy-to-treat chronic conditions to reduce costs.

Additionally, the market is likely to be driven by increased awareness of employee health and wellness. Employees are encouraged to adopt a healthy lifestyle, which helps companies increase productivity and reduce costs by improving employee well-being. In the coming years, the global costs of lost productivity due to absenteeism due to illness are expected to exceed $150 billion. Rising insurance costs are a result of the increase in the number of obese and overweight people, which puts financial pressure on employers.

However, some of the main reasons employees oppose such programs are lack of confidence in the employer’s ability to run an effective program, doubts about the usefulness of the programs, and confidentiality. These factors are leading to slow adoption of corporate wellness software which is expected to restrain the overall market growth.

Key developments

  • December 2020, MediKeeper announces the release of a fully integrated COVID-19 app with risk assessment, licensed for workflow and case management.

Key players

The major market players are CoreHealth Technologies, MediKeeper, Wellness Layers, Alyfe Wellbeing Strategies, BSDI, Ceridian Lifeworks, Corporate Health Partners, Infinite Wellness Solutions, Sprout, and Burner Fitness.

Verified Market Research has segmented the global corporate wellness solutions market on the basis of product, end-user, and geography.

  • Corporate Wellness Solutions Market, By Product
  • Corporate Wellness Solutions Market, By End User
    • Large companies
    • Small and medium enterprises
  • Corporate Wellness Solutions Market by Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • LINE
      • Middle East & Africa
      • Latin America

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