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Enterprise Wellness Market Segmented By Stand-alone and Integrated Platform with Deployment such as Cloud Based and On Premise
Enterprise Wellness can be called as an activity or any policy designed by the organization intended to provide a healthy atmosphere at the workplace and in turn to improve employee health. Enterprise Wellness comprises of solutions for activities which support the employee’s mental, physical and emotional health by medical screenings, health management activities, workplace fitness processes.
Employee’s health and lifestyle is important both for their own health as well as for the employer’s productivity. Companies many a times subsidize these wellness programs for more number of participation to save companies money in the long run to improve the employee’s health, morale and productivity.
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The Enterprise Wellness are the significantly seen now a days due increasing corporate competition and stress. Result being less productive and creative employees. Moreover, this enterprise competition is adversely affecting the employee health, mentally as well as physically. This has also increased the attrition rate of these enterprises. These all factors have adversely affected big and small enterprises.
These all factors have ignited the market for enterprise wellness. Various programs to boost the spiritual, emotional, physical and mental health of the employee are conducted. Low employee participation rate could significantly limit the potential benefits of participating in workplace wellness programs, as could systematic differences between participants and non-participants, this can restrain the enterprise wellness market.
Employees with a higher time cost of exercise, calculated by the campus where the employee worked and by the number of participating fitness sites in the employee's home zip code, had a lower probability of signing up for and completing the program can also act as a restraining factor for the enterprise wellness market. However, opportunities like introduction of new programs and employee participation strategies can boost the enterprise wellness market.
Geographically, the Enterprise Wellness market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Regionally, North America was the largest market for Enterprise Wellness and North America is anticipated to maintain its dominance during the forecast period due to significant healthcare expenditure observed in this region. Asia Pacific is the most progressive market for Enterprise Wellness.
This growth is mainly attributed to factors such as available opportunities with rise in the number of enterprises, and increasing awareness. Furthermore, the Enterprise Wellness market in Latin America is likely to expand at a significant CAGR. Brazil and Mexico are driving the Enterprise Wellness market in the region due to favorable initiatives taken by the respective governments.
Key strategies adopted by major enterprises in this market include population-based programs including health risk appraisals and health screenings in conjunction with targeted interventions.
Currently, the global Enterprise Wellness market is highly competitive owing to the involvement of many established players. Some of the key players in the global Enterprise Wellness market are Marino Wellness, EXOS|MediFit, Wellness Corporate Solutions, Kinema Fitness, Premise Health, TotalWellness Health, WorkStride, Fitbit, Provant Health, Marathon Health, Wellsource, GCC (Global Corporate Challenge) and many others.