U.S. Corporate Wellness Market

U.S. Corporate Wellness Market Size, Share, Growth Analysis, By Service(Health Risk Assessment, Fitness, Smoking Cessation, Health Screening), By End - Use(Small Scale Organizations, Medium Scale Organizations, and Large Scale Organizations), By Category(Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers), By Region - Industry Forecast 2025-2032


Report ID: SQMIC35D2248 | Region: Country | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 76

U.S. Corporate Wellness Market Dynamics

Drivers

Rising Awareness of Employee Health Significance

  • Businesses are now prioritizing employee health and well-being as part of their operations. Healthy employees can translate to higher productivity, lesser absenteeism, and reduced accidents. The market;s offerings can improve the health and well-being of employees, making the jobs of employers easier.

Increasing Prevalence of Chronic Diseases

  • The US has one of the highest rates of global incidence of chronic diseases like diabetes, strokes, heart diseases, and cancer. These illnesses can be a potential player in the surge of healthcare costs, absence rate, and lower productivity. With the help of corporate wellness programs employees can prevent these problems early and improve health. This can result in employers saving financial resources and improving productivity and morale.

Technological Advancement

  • The advancement of technology has boosted the growth of this market. The integration of devices like mobile apps and wearables can make it simpler and more convenient for employers and employees to track and execute corporate wellness programs. These technologies track health data and present customized healthcare suggestions. This also helps employers curate effective and engaging wellness programs.

Restraints

Less engagement

  • Another market inhibitor is the reluctance of the workforce to participate in corporate wellness programs. This is a result of their lack of time, belief or interest in these programs and their effectiveness. The low engagement rate of employees in the market can diminish expansion.

Higher Costs of Programs

  • These programs can be very costly to maintain. Thai is on top of the high expenses that come with implementing them. These high costs of corporate wellness programs barricade some employers from investing in it, particularly small businesses.

Lack of Qualified Professionals

  • In order to deliver corporate wellness solutions, the market requires skilled and expert professionals. However, there is a lack of qualified professionals who can deliver these programs. Employers find it challenging to search for the right individual who can implement and handle these programs. This shortage can pose a problem for market growth
$3,500
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

US Corporate Wellness Market size was valued at USD 18.5 billion in 2022 and is poised to grow from USD 19.24 billion in 2023 to USD 26.33 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

The US corporate wellness market’s environment is highly competitive. The dynamic of this landscape is sculpted by market players constantly engaged in rivalry to seize market share. The players include leading healthcare firms and providers, along with new entrants and technology companies. 'Cigna (Bloomfield, Connecticut)', 'UnitedHealth Group (Minnetonka, Minnesota)', 'Garmin (Olathe, Kansas)', 'ComPsych Corporation (Chicago, Illinois)', 'Fitbit (San Francisco, California)', 'HealthFitness (Minneapolis, Minnesota)', 'Vitality Group (Chicago, Illinois)', 'Welltok (Denver, Colorado)', 'Virgin Pulse (Providence, Rhode Island)', 'CoreHealth Technologies (Kelowna, British Columbia, Canada)', 'RedBrick Health (Minneapolis, Minnesota)', 'Bravo Wellness (Cleveland, Ohio)', 'Interactive Health (Schaumburg, Illinois)', 'TotalWellness (Omaha, Nebraska)', 'Wellness Corporate Solutions (Bethesda, Maryland)', 'Keas (San Francisco, California)', 'Wellable (Boston, Massachusetts)', 'Limeade (Bellevue, Washington)', 'EXOS (Phoenix, Arizona)', 'Provant Health (East Greenwich, Rhode Island)'

Businesses are now prioritizing employee health and well-being as part of their operations. Healthy employees can translate to higher productivity, lesser absenteeism, and reduced accidents. The market;s offerings can improve the health and well-being of employees, making the jobs of employers easier.

Increased Use of Technology: Corporate wellness market has seen a significant change in the way the programs are delivered. This remodeling can be attributed to the increased use of technology. With the help of technological devices, employers can track worker health and deliver customized wellness programs. These devices include wearable devices and mobile apps, among others. This trend has made it easier for employers to introduce wellness programs which are engaging, effective, and efficient.

The northeastern part of the US leads the regional market for corporate healthcare.This is due to their widespread adoption of wellness programs, which is a result of their emphasis on preventive care. Businesses are integrating health-based incentive programs to support the adoption of healthier behavior among employees. These programs reward employees with discounts on health insurance premiums or offer gift cards for healthy food purchases.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

U.S. Corporate Wellness Market

Report ID: SQMIC35D2248

$3,500
BUY NOW GET FREE SAMPLE