Global Corporate Wellness Market, by Service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others), by End User (Small-scale Organizations, Medium-scale Organizations, and Large-scale Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 53,645.7 million in 2018, and is projected to exhibit a CAGR of 7.2% over the forecast period (2019 – 2027), as highlighted in a new report published by Coherent Market Insights.
Increasing initiatives by market players and government authorities for employee wellness is expected to augment the market growth
Key players and government authorities are partnering for the launch of initiatives aimed at the employee wellness. For instance, in January 2015, Sodexo, Inc., and the YMCA of Central Florida in collaboration launched a healthier workforce initiative for the wellness of individuals, families, and communities. The initiative is developed to improve the traditional and mostly underutilized employee wellness programs through a personal and system-based approach.
Moreover, key players are engaged promoting their services in exhibitions and other shows, which is expected to boost the market growth. For instance, in October 2016, Central Wellness, a company offering wellness programs, participated in the WKYC Health & Wellness Expo held at Cleveland Convention Center and interacted with individuals for promoting its services.
Browse 29 Market Data Tables and 22 Figures spread through 128 Pages and in-depth TOC on ‘Corporate Wellness Market’- Global Forecast to 2027 by Service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others), by End User (Small-scale Organizations, Medium-scale Organizations, and Large-scale Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Furthermore, rising stress and depression conditions at the workplace and increasing prevalence of smoking, obesity, and overweight is expected to drive the market growth. According to the Annual Work Stress Survey carried by Harris Interactive on behalf of Everest College, around 83% of employees in 2014 suffered from stress at work in the North America. Similarly, according to World Health Organization’s data published in February 2018, since 1975, obesity has nearly tripled globally, and it was estimated that in 2016, globally, 39% of adults aged 18 years and above were overweight and around 13% were obese. Furthermore, according to the same source, in 2016, over 1.9 billion adults (aged 18 years and above) were overweight, out of which over 650 million were obese.
Key Takeaways of the Global Corporate Wellness Market:
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