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 2024-2031

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 U.S corporate wellness market is predicted to grow in the coming years. This expansion will be driven by growing incidence of chronic illnesses and the rising awareness of employee health and wellness. In today’s world, employers are making employee wellness a top priority. This is because businesses are realizing that a healthy and engaged employee is more valuable to the company.

About 60% of employees have claimed that their own lifestyles outside of work have become healthier due to the adoption of corporate wellness initiatives. The US has always seen a high number of cases of work-related stress and it has consistently increased recently. The American Institute of Stress has stated that approximately 85% of workers suffer from work-related stress. This statistic has forced employers to brea costs to near $300 billion annually. Additionally, another $110 billion has been spent in treating depression, half of which goes to workers.

Corporate healthcare can fight multiple physical and mental health disorders. More businesses and employees are being made aware of this fact. Thus, the adoption of these services has skyrocketed. According to a study in the American Journal of Health Promotion in 2017, almost 50% of American companies offered some type of health promotion, which is a good sign for the market’s growth.

Corporate healthcare’s ROI is another driver of the adoption of these services. Big companies often pay large amounts of health insurance premiums for their workforce. Although, the growing number of unhealthy employees has increased, raising the cost of insurance premiums. This has led to a financial limit for employers.

In order to reduce these costs while also increasing performance rate, companies are widely investing in corporate wellness and engagement programs. Additionally, there are multiple initiatives being taken by the US government to support the growth of corporate wellness services. For example, HIPAA (the Health Insurance Portability and Accountability Act) provides a safety net for employee health information that is in the employer database.