The Workplace wellness programs are implemented by the employers for handling the overall health issues of their employees and involves programs, policies, and several others. Such worksite health programs are now becoming an imperative part that combines an individual and organizational level strategies and interventions to propel health. The wellness program methods certain policies and interferences that address multiple risk aspects and health situations and plan strategies that may propel multiple organization levels involving the individual employee behavior change, organizational culture, and worksite environment.
According to the report analysis, ‘Workplace Wellness Market by Type (Weight Management & Fitness Services, Smoking Cessation Nutrition and Dietary Plan, Stress Management Services, and Health Screening), End-User (Small-Size Private Organizations, Mid-Size Private Organizations, Large-Size Private Organizations, Public Sector, and Non-Governmental Organizations): Global Opportunity Analysis and Industry Forecast, 2019-2026’ states that in the workplace wellness the market there are several corporates which presently functioning more actively for leading the fastest market growth and registering the great value of the market share around the globe throughout the short span of time while spreading the awareness related to benefits of good health, increasing the applications and features of technology, employing the young workforce, delivering the better consumer satisfaction, accepting the policies of profit-making, analyzing and studying the strategies of the government and competitors, and decreasing the associated price includes Wellness Workplace Solutions, ComPsych, FitLinxx, HealthifyMe, Truworth Wellness, Central Workplace Wellness, Marino Wellness, Privia Health, Wellsource, and several others.
The worldwide workplace wellness market was worth at USD 46.08 billion 2018 and is expected to reach USD 74.00 billion by 2026, dominating a CAGR of 6.1% from 2019 to 2026. In addition, an effective surge in the prevalence of chronic diseases around the globe and the implementation of a sedentary lifestyle are the foremost factors that drive the market growth for workplace wellness. Not only has this, economic benefits suggested by these programs, a proficient increase in awareness, and implementation of wellness programs by employers further influence the workplace wellness market growth. However, a huge cost for corporates to implement workplace wellness plans is projected to hamper market growth. Moreover, significant aim by the public and private sector of underdeveloped economies toward advancement in the health of their employees are predicted to generate the lucrative opportunities in the future.
Although, North America is predicted to dominate the worldwide workplace wellness market, due to the existence of major workplace wellness service providers and better healthcare and medical infrastructure. Furthermore, an increase in the incidence of cancer and chronic diseases such as obesity, and diabetes influences the market growth in this region. In addition, the existence of service providers and large-scale private organizations across this region underwrites market growth. However, Canada is predicted to grow at the highest rate throughout the forecast period, owing to growth in the adoption of such programs and plans by corporates to manage the health and stress of their employees. However, the Asia-Pacific is anticipated to increase at the fastest growth rate during the forecast period, due to the increase in stress-related disorders such as anxiety and headache. The Asia-Pacific workplace wellness market is obtaining popularity due to an increase in medical expenditure growth rate in regions such as India and China, which has resulted in a rise in requirements for workplace wellness programs. The need for workplace wellness programs in this region is mounting dynamically, precisely for health screening and assessment. Growth of the medical industry and noteworthy increase in start-up and new organizations in this region proficiently contributes toward the expansion of the market. Therefore, in the near years, it is predicted that the market for workplace wellness will increase over the upcoming future.
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