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US Corporate Wellness Market

US Corporate Wellness Market Size, Share and Growth Analysis by Service, by Delivery Model, and by End User for 2024-2031

US Corporate Wellness Market Size and Share Analysis

The market for US corporate wellness is estimated to value at US$24.7 Bn by the end of 2031 from US$ 19.3 Bn estimated to be recorded in 2024. The market is expected to secure a CAGR of 3.6% in the years of projection, from 2024 to 2031.

Market Attributes

Key Insights

Market Size (2024E)

US$19.3 Bn

Projected Market Value (2031F)

US$24.7 Bn

Projected Growth Forecast (CAGR 2024 – 2031)

3.6%

Historic Growth Forecast (CAGR 2019 – 2023)

3.1%

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Market Introduction and Trend Analysis

Employer-sponsored efforts designed to improve employees' general health and wellbeing are gaining notable traction in the US over the recent years. While this is driving the US corporate wellness market growth, these programs are typically covering a broad range of offerings.

The key inclusions of corporate wellness programs in the US are physical fitness activities, nutritional advice, health tests, stress management workshops, smoking cessation programs, and mental health services.

The goal is to develop a healthier workforce, which can result in lower absenteeism, lower healthcare expenses, and higher productivity and job satisfaction.

Corporate wellness initiatives are important because they can address and mitigate health risks that are frequently associated with lifestyle choices and working pressures. By promoting preventive health measures and healthy lifestyles, corporate wellness programs can help reduce the incidence of chronic diseases and lower overall healthcare expenses.

Workers who are in good health tend to be more energetic, more productive, and less likely to miss work due to illness. Wellness initiatives can increase staff loyalty, work satisfaction, and morale, which raises retention rates.

Keeping a staff that is engaged and productive requires good mental health. Reduced productivity, more absenteeism, and higher healthcare expenditures can all be consequences of poor mental health. Businesses can foster a supportive workplace that fosters emotional and psychological wellbeing by putting strong emphasis on mental health.

Employees with good mental health are more focused, motivated, and efficient, addressing mental health issues can decrease the number of sick days taken by employees and Effective mental health programs can reduce the overall cost of healthcare by preventing or managing mental health conditions.

The US corporate wellness market is poised for continued growth as organizations increasingly recognize the strategic value of investing in their employees' health and wellbeing.

By adopting comprehensive, personalized, and technology-driven wellness programs, companies can enhance employee health, reduce healthcare costs, and foster a more productive and positive work environment. This focus on corporate wellness not only benefits employees but also contributes to the overall success and sustainability of organizations in the competitive business landscape.

Historical Growth and Course Ahead

In the 1970s and 1980s, the idea of corporate wellness started to take shape, with a primary focus on physical fitness and quitting smoking. Large organizations were the primary early adopters of this technology because they saw its potential to save healthcare expenses and increase worker productivity. Health checks, guidance in quitting smoking, and on-site workout centres were among the basic programmes offered.

Corporate wellness initiatives were becoming more and more valued as a strategic goal by the early 2000s. Businesses realized there was a connection between worker happiness and productivity.

Corporate wellness was changed by the widespread usage of Corporate Wellness apps and wearable activity trackers. Personalized wellness programs and ongoing health monitoring were made possible by these technologies.

The personalization of wellness programs will be improved by the application of machine learning, and AI. These devices can analyse enormous volumes of data to forecast health concerns and offer personalized advice.

Services related to telehealth, which became very popular during the COVID-19 pandemic, are only going to get bigger. Wellness initiatives will increasingly rely on digital health platforms, remote monitoring, and virtual consultations.

The number of businesses providing all-encompassing mental health support, such as access to therapists, mental health applications, and mindfulness instruction, will only increase as mental health services continue to grow. The stigma around mental health problems will be lessened, over the years, with increasing and concentrated efforts on fostering an accepting and supportive community.

Key Trends and Innovations in the Market

  • Integration of wearable devices like Fitbit, Apple Watch, and Garmin with corporate wellness programs to track physical activity, sleep patterns, heart rate, and other health metrics
  • Promotion of mobile wellness apps like Headspace for mindfulness, MyFitnessPal for nutrition tracking, and Calm for stress management, which provide employees with access to wellness resources anytime, and anywhere
  • Demand surge in wellness programs to support remote and hybrid work environments, including virtual fitness classes, telehealth services, and online wellness resources
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Market Growth Drivers

Increased Awareness of Employee Health

The issue of employee wellbeing has gained significant attention from both small and large businesses due to the continually increasing expenses of healthcare.

Due to this, a lot of businesses are now proactively addressing this problem by providing incentives to staff members who maintain their health and physical fitness. Employees who smoke and those who may weigh more than the average for their age and gender are being penalized by some employers at the same time.

According to estimates from the US Department of Health and Human Services, every American family must pay close to $1,000 annually for the treatment of illness and chronic diseases brought on by sedentary lifestyles.

Even just 30 minutes a week of moderate exercise, like going for a brisk walk, can have a big impact on your health. It can reduce your risk of heart disease, hypertension, or Type 2 diabetes, as well as improve the condition of your muscles, bones, and joints.

Wellness has thus grown in importance for contemporary enterprises, particularly in the light of the fact that stress and the associated costs of poor health have both increased dramatically. As a result, many businesses now encourage their staff members to enrol in wellness programs to improve or maintain their health.

One such initiative is the National Walk@Lunch Day® which is designed to complement, not compete with, employees’ busy lifestyle. The purpose of this effort is to save healthcare expenditures for both businesses and employees while also promoting better personal health.

The increased awareness of employee health is thus a multifaceted driver that significantly contributes to the expansion of the US corporate wellness market. By recognizing the integral role of health in productivity, engagement, and overall wellbeing, companies are increasingly investing in comprehensive wellness programs.

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Factors Impeding the Market Growth

Cultural and Organizational Barriers

Wellness initiatives may be seen as low priority if senior leadership does not actively support and participate in them. Encouraging employee participation and allocating required resources require the support of the leadership. Programs with weak leadership support might not have enough money, people, or resources, which would restrict their reach and efficacy.

Employees who work in organizations that prioritize long hours and high productivity may find it difficult to carve out time for wellness activities. This may give the impression that taking part in wellness initiatives may hinder their ability to advance in their careers.

Participating in wellness programs, especially those that address mental health, may carry a stigma. Workers may worry about being viewed as weak or criticized if they ask for assistance.

Workers may be concerned that their involvement in wellness initiatives, particularly when it comes to health tests or counselling, may violate their privacy, or be used against them in the hiring process.

Companies may improve the efficacy of their wellness initiatives and encourage a healthier, more engaged workforce by tackling these organizational and cultural challenges, which will also help market expansion.

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Future Opportunities for Corporate Wellness Companies in the US

Expanding Focus on Chronic Disease Management

Wearable Innovations

The recent advancements in wearable technology have changed the way we look at health and wellness. This new age development has made its way into the world of corporate and given the benefits, it is meant to stay there for some time.

These technologies have been increasingly incorporated in the corporate wellness initiatives with a focus on improving the overall health and wellness of the employees. There are many advantages to a healthy workforce including increased productivity and lower health insurance premiums.

A growing trend in corporate wellness programs is to offer wearable fitness trackers to employees to help them monitor their activities so that they can make better choices about their health and lifestyle. This article explores the current trend in the corporate wellness initiatives and also discusses the benefits, barriers and threats of this new age development.

Fitness trackers and smartwatches are examples of wearable technology that can track vital signs in real time, including heart rate, sleep habits, and physical activity. This information is useful for understanding employee health and for customizing wellness initiatives to meet the requirements of specific individuals.

IoT devices gather and send health data to centralized platforms for thorough analysis and useful insights. Employers can utilize this information to spot patterns, monitor development, and modify wellness programs as needed.

The use of cutting-edge technology into corporate wellness initiatives presents ample prospects to augment engagement, customization, and efficacy. Corporate wellness enterprises may provide more comprehensive and effective wellness solutions by utilizing technologies like wearables, blockchain, AI, VR, telemedicine, mobile apps, big data, and gamification. The market can grow as a result of this technological innovation if it improves employee health outcomes, increases participation rates, and increases overall satisfaction with wellness programs.

Category-wise Analysis

Category

Projected CAGR through 2031

Service – Health Risk Assessment

 5.3%

Delivery Model – Onsite

 5.0%

End User – Large-Scale Organizations

 4.7%

Health Risk Assessment Remains the Top Service Category

The goal of health risk assessment (HRA) is to uncover health problems before they become significant illnesses, making them preventative in nature. This proactive strategy fits nicely with the increased focus on healthcare preventive tactics.

HRAs offer useful information on the health, lifestyle, and potential dangers of employees. Employers can use this data to effectively allocate resources, customize programs to meet individual requirements, and make well-informed decisions about health efforts.

Employers can save money by using HRAs to detect health problems early on. The expenditures of treating, hospital stays, and missed work are all decreased when chronic illnesses are prevented or managed.

By providing HRAs, employers show their dedication to the health and wellbeing of their workforce, creating a healthy work atmosphere, and raising employee engagement and morale.

For example, in June 2020, Maximus Inc., a government services company in the US, has collaborated with NexJ Health to give its employees with mobile access to health screening services.

Onsite Model of Delivery Sought-After

Employees find onsite wellness programs convenient because they are provided right at their place of employment. This saves time and effort by removing the requirement for staff members to go to other locations for wellness activities.

Higher rates of worksite wellness program engagement are sometimes attributed to convenience. When wellness resources are conveniently available to employees during work hours, they are more likely to participate in them.

Employers can customize onsite wellness programs to suit the specific needs and interests of their workforce. This customization can include a variety of wellness activities, such as fitness classes, health screenings, nutrition workshops, and stress management sessions.

The onsite model of delivery offers numerous advantages that contribute to its popularity and effectiveness in the US corporate wellness market. These advantages include convenience, accessibility, customization, cost-effectiveness, integration with work culture, real-time support, privacy, team building, and compliance.

Large-Scale Organizations Represent the Largest Consumer Category

Larger firms often devote greater financial resources to employee wellness initiatives. This allows them to invest in complete health programs, recruit wellness professionals, and deploy cutting-edge technologies to assist their efforts.

Large firms frequently have the infrastructure and equipment to enable onsite wellness activities, such as exercise centres, wellness rooms, and health clinics. These amenities facilitate the implementation and promotion of workplace wellness initiatives.

Employee wellbeing is a key component of many large firms' corporate cultures. This dedication to wellness is frequently led by top management, fostering a favorable atmosphere for wellness initiatives to flourish.

Large-scale organizations are leaders in the US corporate wellness market due to their financial resources, scale of impact, infrastructure, leadership commitment, data capabilities, comprehensive offerings, regulatory compliance, talent attraction, brand reputation, and strategic planning.

Top Industry Players in the US Corporate Wellness Market

  • Anthem, Inc.
  • Virgin Group Ltd.
  • ComPsych
  • Wellness Corporate Solutions
  • Virgin Pulse
  • EXOS
  • Marino Wellness
  • CXA Group Pte. Limited
  • Optum, Inc.
  • Cerner Corporation
  • Alphabet Inc.
  • Discovery Ltd.
  • Privia Health
  • Vitality
  • Wellsource, Inc.
  • Sonic Boom Wellness

Recent Developments in the US Corporate Wellness Market

  • In January 2022, Mindhouse was rebranded as Shyft, indicating the company's emphasis on offering comprehensive wellness solutions that address a broader spectrum of health ailments and concerns. The new branding intends to help clients manage their health conditions properly.
  • In June 2022, As Anthem, Inc. (ANTM) announced the launch of healthcare services brand Carelon and health plan brand Wellpoint to join the company’s family of brands that includes Anthem Blue Cross and Blue Shield.

US Corporate Wellness Market Report Scope & Segmentation

Attributes

Details

Forecast Period

2024 to 2031

Historical Data Available for

2018 to 2023

Market Analysis

US$ Billion for Value

Key Market Segments Covered

  • Service
  • Delivery Model
  • End User
  • Region

Key Companies Profiled in the Report

  • Anthem, Inc.
  • Virgin Group Ltd.
  • ComPsych
  • Wellness Corporate Solutions
  • Virgin Pulse
  • EXOS
  • Marino Wellness
  • CXA Group Pte. Limited
  • Optum, Inc.
  • Cerner Corporation
  • Alphabet Inc.
  • Discovery Ltd.
  • Privia Health
  • Vitality
  • Wellsource, Inc.
  • Sonic Boom Wellness     

Report Coverage

  • Market Forecast and Trends
  • Company Share Analysis
  • Competitive Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

US Corporate Wellness Market Segmentation

By Service

  • Health Risk Assessment
  • Fitness
  • Smoking Cessation
  • Health Screening
  • Weight Management
  • Nutrition
  • Mental Health Management
  • Others

By Delivery Model

  • Onsite
  • Offsite

By End User

  • Mobile Operators
  • Healthcare Providers
  • Application/Content Players

- Companies Covered in This Report -

- Frequently Asked Questions -

Companies that offer a wide range of wellness services, including health risk assessments, fitness programs, nutrition counselling, mental health support, stress management, and lifestyle coaching, stand out for their comprehensive approach to employee wellbeing.

Some of the key players operating in the market are Anthem, Inc., Virgin Group Ltd., ComPsych, Wellness Corporate Solutions, and Virgin Pulse.

Onsite segment records a significant market share as of 2024 in Delivery Model category.

Employers are increasingly recognizing the importance of prioritizing employee wellbeing. A healthy workforce leads to improved productivity, reduced absenteeism, and better overall organizational performance.

The health risk assessment segment records a significant market share as of 2024.

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