Global Workplace Wellness Market Overview
Due to the adaptation of a sedentary lifestyle; health issues such as physical and psychological among the employees are very common. To eradicate these health issues many organizations are opting for workplace wellness programs. Workplace wellness refers to a work environment conducive to the health and well-being of all employees and others within the workplace. Wellness programs include a set of programs, policies and benefits addressing multiple risk factors influencing both employees and the overall organization. Employees are encouraged to adopt a healthier lifestyle for enhancing the company’s productivity. Global Workplace Wellness Market is expected to witness substantial growth during the forecast period.
Impact of COVID-19 on the Global Workplace Wellness Market
The outbreak of the global pandemic has severely affected the mental health of the employees. The pandemic has led to the work from home transition which in turn resulted in increased stress among employees. In addition, the pandemic has created a financial crisis among many people which has directly influenced their mental health. To deal with these issues, services such as online consultation with psychologists, counselors, and health experts have been included in the workplace wellness program.
Market Dynamics of Global Workplace Wellness Market
The rise in the incidence of chronic diseases and the increase in awareness and implementation of wellness programs by employers are the prime factors fueling the growth of the global workplace wellness market. In addition, the adoption of a sedentary lifestyle and rise in awareness and economic benefits offered by these wellness programs are the major factors driving the global workplace wellness market. On the contrary, the increased cost for companies to adopt workplace wellness plans is one of the major factors acting as a restraint, and it will further challenge the growth of the workplace wellness market in the forecast period 2020 to 2027. The developing economies will further create new opportunities for the global workplace wellness market in the upcoming years.
Scope and Segmentation of Global Workplace Wellness Market
The report incorporates an in-depth assessment of the competitive landscape, market size, recent market trends, product developments, financial and strategic analysis, and market dynamics of the global workplace wellness market. In addition, this report comprises product launches, agreements, acquisitions, collaborations, and mergers during the forecast period 2019-2027. This report also includes an in-depth analysis of the potential impact on micro-economic factors of the market. The insights on the global workplace wellness market are a result of our extensive primary as well as secondary research and expert reviews. These market estimates have been assessed by PORTER’s five forces, SWOT, and PEST analysis.
The market segmentation of the report is categorized by services, by category, by delivery mode, by end-user, and by geography. The market segmentation is bifurcated by services into weight management and fitness services, stress management services, nutrition and dietary plans, health screening, health risk assessment, and smoking cessation among others; by category into fitness and nutrition consultants, psychological therapists, and organizations; by delivery mode into onsite and offsite; by end-users into large size organization, medium size organization, small size organization, public sector and NGOs; by geography into North America, Europe, Asia Pacific and Rest of the World (RoW).
Key Players of Global Workplace Wellness Market
Some of the prominent players operating the global workplace wellness market are Wellness Corporate Solutions, Privia Health, Provant Health Solutions, Beacon Health Options, Virgin Pulse, Marino Wellness, ComPsych, EXOS, Vitality Group, Central Corporate Wellness, Wellsource, Inc., SOL Wellness, Truworth Wellness, ADURO, INC., Well Nation and Fitbit Inc. among others.
Currently, North America is dominating the global workplace wellness market due to increase in chronic diseases such as obesity, diabetes and the incidence of cancer is propelling the need of workplace wellness in a majority of the organizations; which in turn has enhanced the market growth and opportunities for workplace wellness market in the region.
Market Segmentation of Global Workplace Wellness Market
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By End User: