The global workplace wellness market size was USD 50.2 Billion in 2022 and is likely to reach USD 80.1 Billion by 2031, expanding at a CAGR of 5.7% during the forecast period, 2023–2031. The market growth is attributed to businesses prioritizing workforce health to increase productivity and efficiency.
Workplace wellness benefits employees by offering health and well-being. In modern enterprises, corporate wellness programs are carried out by incorporating policies in the organizational structure to address health-related complications in the workforce. By implementing employee wellness programs, organizations are providing job satisfaction to employees, leading to better business outcomes.
The revolution of remote work is encouraging organizations to adopt wellness programs to cater to the unique needs of remote employees. Nowadays, employers are offering virtual fitness classes, digital workplace offerings, and support groups to maintain a sense of community and connection. By providing such initiatives, organizations ensure that employees feel engaged, supported, and connected, regardless of their location.
Impact of Artificial Intelligence on Workplace Wellness Market
AI in workplace wellness plays a vital role in serving a positive work culture. AI-enabled assistants create an environment to make employees feel valued and supported. This can contribute to increased engagement, loyalty, reduce turnover and enhance the overall work experience.
The challenge in creating an AI-enabled assistant for mental health support lies in ensuring that it is designed by individuals who possess a deep understanding of the intricacies of therapy and coaching practices. Developers have to work closely with clinicians who have a deep understanding of various therapeutic techniques to create an AI-enabled assistant to engage in meaningful and effective conversations.
Cognitive Behavioral Therapy (CBT) is an effective treatment for a range of mental health concerns. AI depends on analyzing and collecting sensitive health information, which raises concerns about who has access to those data. Privacy protocols should be established to protect employee privacy and ensure data is stored and used securely to prevent data breaches.
The market report finds that the COVID-19 pandemic affected the workplace wellness market size as many organizations were laying off employees. The wellness cost had reduced impacting the workplace wellness market significantly as modes of conducting offline sessions were limited.
However, the demand for employee wellness has grown significantly during and after the COVID-19 crisis over remote and flexible work. As the online coaching industry emerged during the pandemic, preference was given to online work wellness sessions for strengthening employees’ mental and physical fitness. Furthermore, During the pandemic, healthcare companies offered free services to tackle the nationwide outbreak.
- For instance, in May 2022, Walgreens, in collaboration with the U.S. Department of Health and Human Services (HHS) and LabCorp, a global life sciences company, announced a program to make Pixel by LabCorp, a COVID-19 at-home PCR collection kit. This program is designed to offer customers access to convenient, reliable testing at no cost and with no insurance or eligibility requirements.
Workplace Wellness Market Dynamics
The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global workplace wellness market report has up-to-date insights about market scenarios that can shape the overall market performance and condition during the forecast period, 2023 to 2031.
Key Trends
The key trends in the workplace wellness market are characterized by the shift in employees’ attitudes toward mental and physical wellness. Corporations are realizing the importance of wellness in work initiatives which are helpful to enhance the productivity and creativity of employees. Moreover, the rising trend of companies partnering with wellness providers to offer a wide number of services that cater to the preferences of their workforce.
- For instance, on June 13, 2023, Exos, the industry-leading performance coaching company, and Wellness in the Schools (WITS) have partnered with New York City Public School's Office of School Wellness Programs (OSWP) to launch a first-of-its-kind Coach Council. The partnership focuses on developing professional leadership events and opportunities for New York City's (NYC) public school physical education (PE) teachers and coaches.
Major Drivers
The change in lifestyle because of the increase in deskbound job profiles is the major factor that is driving the workplace wellness industry growth. The workers rarely find time for wellness activities. Chronic ailments induced by desk jobs are propelling the demand for employee wellness activities in various organizations.
- According to health statistics related to desk jobs, nearly 86% of American employees are working in long sitting periods. This results in mental health, posture, stress level issues, and cardiovascular diseases.
Companies are aiming for the overall growth and well-being of employees, which is anticipated to support market growth during the projection period. The rebound in the overall market growth demands more productivity and efficiency, which is expected to drive the global market significantly in the coming years.
- A survey from American Psychological Association (APA) Work and Well-Being 2022, confirmed that the expectations of the employee regarding mental health support are shifting. 71% of workers reported that employers are more concerned about employees' mental health issues than ever before.
Existing Restraints
Corporate wellness service providers hire trained professionals and also purchase employee wellness software to offer work wellness programs to corporations. The rising cost of hiring these professionals may hamper the workplace wellness industry's growth.
It has been observed that most employees refrain from participating in corporate wellness programs due to privacy issues regarding their health complications, orientation, or habits. The ambiguity regarding methods of conducting employee wellness programs reduces the participation of employees.
Emerging Opportunities
Business activities in emerging economies are expanding at a significant pace owing to rising industrialization and consumer demands. Workplace transformations are taking place with the help of technological innovations and restructuring of the policies. This is anticipated to create lucrative opportunities for the work wellness market to grow significantly.
Advancements in technology are changing corporate wellness solutions by offering new tools and platforms for supporting employee well-being is expected to create market opportunities. Digital wearables including smartwatches, and fitness trackers enable employees to track their overall health.
These devices provide data that can help individuals in making informed decisions regarding their well-being. Mobile applications and the online platform offers access to wellness resources, and help the employees in prioritizing health irrespective of their location.
- For instance, in December 2022, Oura a Finnish health technology company, and maker of the health-tracking Ring, announced the launch of Oura for Business, which will supply individuals with personalized insights. It will provide customized tools and recommendations for leaders based on group data, it provides individualized guidance through an app to improve sleep quality and overall health.
Scope of Workplace Wellness Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Workplace Wellness Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Nutrition & Dietary Plan, Stress Management Services, Health Screening & Assessment, Weight Management & Fitness Services, Biometric Screening, Mental/Behavioral Health Management, Alcohol/substance Abuse Services, and Smoking Cessation), Delivery (Offline and Online), and End-user (Public Sector, Large-Size Organizations, Mid-Size Organizations, Small-Size Organizations, and NGOs)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Virgin Pulse; Laboratory Corporation of America® Holdings.; Fitbit Inc.; ComPsych Corporation.; Truworth Wellness; Novant Health; Vitality Group International, Inc.; Dash Solutions, Inc.; Marino Wellness; Wellsource, Inc.; SOL Wellness and Healing; Well Nation; Aterian.; HealthifyMe Wellness Products and Services PVT. LTD.; ActiveLinxx, LLC; WellnessIQ.; Privia Health; MDVIP; and Exos
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Workplace Wellness Market Segment Insights
Type Segment Analysis
Based on type, the workplace wellness market is divided into nutrition & dietary plans, stress management services, health screening & assessment, weight management & fitness services, biometric screening, mental/behavioral health management, alcohol/substance abuse services, and smoking cessation.
The health screening & assessment segment is expected to expand at a significant growth rate during the projection period. The segment growth is attributed to providing comprehensive guidance on planning health screening and assessment sessions. These sessions are carried out as per individual preferences and health complications. It can enhance employee engagement with a holistic approach toward exercise.
The stress management services segment is anticipated to hold a key share of the market in the coming years owing to prolonged hours at work, lack of physical and mental relaxation, and increasing workload stress. The segment growth is further attributed to the rise in conducting online and offline stress-relief sessions for employee wellness.
These sessions are encouraging employees to have a positive work-life balance and offer insights into stress-management techniques at work. The nutrition & dietary plan segment is also expected to expand at a significant pace during the projection year.
The segment growth is attributed to corporations conducting seminars to improve physical fitness through proper food and liquid intake and managing cardiometabolic risk factors. The basic aim of these sessions is to create a holistic approach toward food in the minds of the employees.
- For instance, in April 2023, Gympass, the world's largest employee wellbeing platform, announced the addition of MyFitnessPal, the number one global nutrition and food tracking app. MyFitnessPal offers unique nutrition and food tracking capabilities to the Gympass platform, providing organizations with the most comprehensive well-being benefits available.
Delivery Segment Analysis
Based on delivery, the workplace wellness market is divided into offline and online. The online segment is anticipated to expand at a rapid pace during the forecast period.
The growth of online workplace wellness platforms is credited to a significant shift in consumer sentiment toward availing of online modes of wellness sessions for convenience. Employers and employees are increasingly preferring online modes of wellness sessions as it saves time and cost.
- For instance, in April 2023, to eliminate the impact of substance use disorders (SUDs) in the workplace, Lionrock, the inventor of telehealth for SUD treatment and recovery services in the United States announced the launch of its Courage to Change: Workplace Wellness Program. The program is available at no cost to companies and provides online SUD resources developed by renowned addiction experts for HR leaders, managers, and employees.
End-user Segment Analysis
Based on end-user, the workplace wellness market is divided into the public sector, large-size organizations, mid-size organizations, small-size organizations, and NGOs.
The large-size organization segment is anticipated to account for a major market share in the coming years owing to the rise in adaptation of implementation of health and wellness policies in large-size organizations. The availability of funds in large-size organizations and the need to increase the productivity of employees can further enhance workplace wellness industry growth.
The mid-size organization segment is projected to register a considerable CAGR during the forecast period owing to a rise in awareness about health issues of employees. This segment growth is further attributed to rising number of start-ups related to workplace health and well-being.
- For instance, in March 2023, British work wellness start-up GetZeN launched, bringing its unique mental health and wellbeing platform to organizations across the UK. GetZeN offers a class-leading technology platform with perceptive human insight to deliver the most impactful mental health & wellbeing programs.
Regional Analysis
In terms of region, the global workplace wellness market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to dominate the market during the forecast period. The growth of the market in the region is attributed to the increasing chronic ailments and consumption of unhealthy food.
The regional market growth is due to the easy availability of smart devices, trained professionals in the region, and organizations’ preparedness to allocate funds for corporate wellness services.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years owing to business expansion in the region, rising awareness about wellness, and favorable government policies. Emerging economies of the region including India, China, and South Korea are increasingly adopting policies that encourage the welfare of employees by promoting health and fitness initiatives at the workplace, which is substantially fueling the market growth in the region.
Segments
The global Workplace Wellness market has been segmented on the basis of
Type
- Nutrition & Dietary Plan
- Stress Management Services
- Health Screening & Assessment
- Weight Management & Fitness Services
- Biometric Screening
- Mental/Behavioral Health Management
- Alcohol/substance Abuse Services
- Smoking Cessation
Delivery
End-user
- Public Sector
- Large-Size Organizations
- Mid-Size Organizations
- Small-Size Organizations
- NGOs
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Virgin Pulse
- Laboratory Corporation of America® Holdings.
- Fitbit Inc.
- ComPsych Corporation.
- Truworth Wellness
- Novant Health
- Vitality Group International, Inc.
- Dash Solutions, Inc.
- Marino Wellness
- Wellsource, Inc.
- SOL Wellness and Healing
- Well Nation
- Aterian.
- HealthifyMe Wellness Products and Services PVT. LTD.
- ActiveLinxx, LLC
- WellnessIQ.
- Privia Health
- MDVIP
- Exos.
Competitive Landscape
Key players competing in the global workplace wellness market are Virgin Pulse; Laboratory Corporation of America® Holdings.; Fitbit Inc.; ComPsych Corporation.; Truworth Wellness; Novant Health; Vitality Group International, Inc.; Dash Solutions, Inc.; Marino Wellness; Wellsource, Inc.; SOL Wellness and Healing; Well Nation; Aterian.; HealthifyMe Wellness Products and Services PVT. LTD.; ActiveLinxx, LLC; WellnessIQ.; Privia Health; MDVIP; and Exos.
The market report provides in-depth insights into growth strategies and development initiatives implemented by the key players in the market. These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,
- In October 2022, Aterian, Inc. announced the acquisition of the assets of a brand in the health and wellness category. The Company believes that the acquisition will be accretive; expanding and securing market share in an existing portfolio brand’s category.
- In October 2022, Virgin Pulse partnered with Carrum Health, meQ, Omada Health, Vivante Health, and Yes Health to provide more organized and prioritized services to their members for improving the outcome of the wellness programs.
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