US-Corporate Wellness Market by Application and Product Type - Forecast and Analysis 2023-2027

US Corporate Wellness Market Forecast 2023-2027

The US corporate wellness market size is estimated to increase by USD 6.12 billion and grow at a CAGR of 8.38% between 2022 and 2027. The growth of the market depends on several factors, including the increasing need to combat rising healthcare costs, the need for improved employee productivity, and recent developments in corporate wellness solutions in the US.  A significant driver behind market expansion in the US is the escalating necessity to address the surge in healthcare expenses. Organizations are offering healthcare benefits to employees to enhance their well-being and foster a more efficient workforce. Among the pivotal healthcare benefits are prescription drug assistance, health insurance coverage, and premium compensation.

What will be the Size of the Corporate Wellness Market During the Forecast Period In US?

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Market Segmentation

This market report in the US extensively covers market segmentation by application (health assessments and screenings, nutrition and fitness, stress management, and others) and product type (SMEs and large organizations). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Application

The market share growth by the health assessments and screenings segment will be significant during the forecast period. Health assessment is a key prerequisite of a program. It is essentially implemented by providers to assess the current health status of an employee to understand his/her medical history and specific needs relating to his/her illness or disease.

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The health assessments and screenings segment was valued at USD 4.32 billion in 2017 and continued to grow until 2021. Some of the major assessment in the workplace involves the assessment of current workplace wellness programs, physical environment, policies of the organization, and an employee survey followed by a questionnaire to identify behaviors, concerns, and interests of employees. Smoking, alcohol consumption, obesity, high blood pressure, high cholesterol, and high blood glucose are some of the key risk factors identified during check ups. Furthermore,  employee screenings can also improve the morale of employees in an organization as they demonstrate that the employer cares about its employees and is dedicated to helping them stay healthy. Hence, such factors are expected to drive the growth of this segment which in turn will drive the market during the forecast period.

Market Dynamics and Customer Landscape

The Market in the US is witnessing significant growth across businesses, enterprises, and various industry verticals, driven by the imperative to enhance employee productivity while managing operational costs. Health programs tailored to address prevalent issues like cancer, heart diseases, obesity, and diabetes are gaining prominence, with services ranging from risk assessment and fitness programs to smoking cessation and stress management initiatives. The prevalence of chronic diseases underscores the importance of employee healthcare costs, absenteeism, and lost productivity. Amidst lockdowns and work-from-home models, the adoption of remote patient monitoring devices and yoga and meditation classes has surged, catering to the wellness needs of large-scale organizations as well as small and medium-scale enterprises. Fitness and nutrition consultants play a pivotal role in delivering effective workplace wellness programs, ensuring holistic employee well-being and disease prevention. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

One of the key factors driving the market growth in the US is the increasing need to combat rising healthcare costs. Healthcare benefits are provided by the organizations to the employees to improve their health and have a productive workforce. Some of the key healthcare benefits include prescription drug subsidies, health insurance, and compensation of premiums.

There is an increasing medical cost for treating conditions such as chronic illnesses and obesity leading to an increase in the cost to the company and decreasing work productivity. Therefore, organizations are, therefore, implementing corporate wellness programs that can help employees maintain healthy habits, the absence of which is responsible for chronic diseases and obesity. Corporate wellness programs utilize stress mapping techniques that can assist human resource managers in identifying stress-triggering factors in the workplace and taking appropriate actions to reduce stress levels.  Hence such benefits and initiatives provided by organizations are expected to drive the market during the forecast period.

Significant Market Trend

A key factor shaping the market growth is the adoption of wearable technology. One of the emerging trends is wearable technology which is used to track an employee's vital data signs related fitness, location, and his/her biofeedback indicating emotions. For instance, employees are increasingly adopting devices such as FitBit Blaze smart fitness watches during these programs.

Some of the key advantages of Fitbit Blaze include, it provides a comprehensive suite of applications such as global positioning systems (GPS), heart rate monitoring, smart notifications, and lateral distance tracking. Hence, these devices help in establishing successful programs by improving the health outcomes of employees. These programs are gaining popularity with wearable technology that tracks the measurement of health outcomes of employees and motivates them to work harder to achieve results. Thus, such factors are expected to drive the Market during the forecast period.

Major Market Challenge

The poor engagement level among employees is one of the key challenges hindering market growth. Poor engagement levels and the lack of interest and motivation in employees can pose a significant threat to the market in US, as a lack of motivation can lead to poor outcomes in programs. Thus employee feedback is necessary to understand the needs and interests of employees  Before implementing a corporate wellness program.

The absence of such feedback mechanisms results in employers being unaware of their employees' preferences, resulting in poor outcomes for the program that is implemented. The lack of employee participation is due to the lack of desire to spend time on wellness activities, lack of employer support, work pressure, inconvenient timings, and poor understanding of the purpose and goal of such programs. Hence, such factors can significantly hinder the Market during the forecast period.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Who are the Major Corporate Wellness Market Companies in US?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Practo Technologies Pvt. Ltd: The company offers corporate wellness programs, including employee health and wellness plans.  

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Aduro LLC
• Alphabet Inc.
• ComPsych Corp.
• Exos Works Inc.
• Interactive Health System LLC
• Kinema Fitness
• Laboratory Corp. of America Holdings
• Link Group
• Marino Wellness LLC
• Prepaid Technologies Company Inc.
• Privia Health Group Inc.
• Sodexo SA
• The Cleveland Clinic Foundation
• United HealthCare Services Inc.
• Virgin Pulse Inc.
• Vitality Group LLC
• WebMD Health Services Group Inc.
• Wellsource Inc.
• WellSteps.com LLC

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook 
  • Health assessments and screenings
  • Nutrition and fitness
  • Stress management
  • Others
• Product Type Outlook 
  • SMEs
  • Large organizations

Market Analyst Overview

The Market in the US is thriving as businesses, enterprises, and industry verticals increasingly prioritize employee health programs to manage operational costs and combat health-related challenges such as cancer, heart diseases, and diabetes. Services like health risk assessment, smoking cessation, and health screening are gaining prominence to address the prevalence of chronic diseases and reduce employee healthcare costs, absenteeism, and lost productivity. Amidst the pandemic, remote patient monitoring devices have become essential, alongside offerings like yoga and meditation classes to support employees during lockdowns and work-from-home models. Categories like fitness & nutrition consultants and psychological therapists play vital roles in delivering comprehensive wellness programs. Technology-powered solutions are gaining traction to tackle chronic lifestyle diseases and mental health issues while enhancing employee engagement and well-being. However, challenges such as a shortage of qualified professionals and low employee engagement persist, highlighting the need for efficient and holistic corporate wellness programs supported by internal and external stakeholders.

Moreover, the market in the US is experiencing significant growth, with organizations of all sizes prioritizing employee health and well-being. Services like nutrition & weight management and health screening programs are increasingly adopted by large-scale and small-scaled organizations alike to address the disease burden and combat health risks. Amid lockdowns and remote work models, small and medium-scale organizations are leveraging technology-powered solutions and internal-led wellness programs to manage mental stress and promote a mentally and physically healthy workforce. Key stakeholders are observing a rising adoption of corporate wellness programs, driven by the positive impact on employee health and well-being. However, challenges such as a dearth of qualified professionals persist, emphasizing the need for efficient and holistic wellness programs supported by government initiatives and financial incentives.

Corporate Wellness Market Scope In US
Report Coverage	Details
Page number	123
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.38%
Market growth 2023-2027	USD 6.12 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.09
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Aduro LLC, Alphabet Inc., ComPsych Corp., Exos Works Inc., Interactive Health System LLC, Kinema Fitness, Laboratory Corp. of America Holdings, Link Group, Marino Wellness LLC, Practo Technologies Pvt. Ltd., Prepaid Technologies Company Inc., Privia Health Group Inc., Sodexo SA, The Cleveland Clinic Foundation, United HealthCare Services Inc., Virgin Pulse Inc., Vitality Group LLC, WebMD Health Services Group Inc., Wellsource Inc., and WellSteps.com LLC
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report In US ?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across the US
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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