North America Corporate Wellness Market- Market Size & Forecast to 2030

The North America Corporate Wellness market in the COVID-19 period has been estimated to value USD 8,566.0 million in 2021 and is projected to reach USD 15,019.3 million by 2030 at a CAGR of 6.4% during the forecast period. However, without the COVID-19 impact, the North America corporate wellness markets was estimated to value at USD 8,541.4 million in 2021 and reach USD 14,639.1 million by 2030 at a CAGR of 6.2% during the forecast period.

The presence of major players in the region such as Apple Inc., Google LLC., Cigna, Quest Diagnostics, and Virgin Pulse in the region is also expected to drive the growth of the market during the forecast period. The corporate wellness service providers offer employee wellbeing services such as health risk assessment services, smoking cessation programs, dental checkups, health screening, nutrition and weight management services, stress management, chronic disease management services for their employee.

Increasing prevalence of chronic conditions and mental health issues is also the major factor driving the market growth. Chronic diseases like arthritis, cancer, cardiovascular diseases are the most common health problems in North America. Companies are now using various workplace wellness programs for the employees to track and monitor the employee health. Psychological disorder management programs are also organized for employees in the companies to handle issues such as anxiety disorder and work-related stress etc. to improve the mental wellbeing of employees so that they can work efficiently in the workplace.

This research report categorizes the market for corporate wellness based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the corporate wellness market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the corporate wellness market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as source and application of the corporate wellness market.

Based on service, the market is segmented into health risk assessment, fitness, smoking cessation, dental checkups, health screening, nutrition and weight management, stress management, chronic disease management, employee assistance program, and others (wellbeing sessions and therapies). The health risk assessment segment is expected to hold the largest share in the North America corporate wellness market during the forecast period. The health risk assessment gives employees the opportunity to understand their health risks and help them to connect with the health management programs. These factors are expected to drive the segment growth.

Based on the category, the market is segmented into fitness and nutrition consultants, psychological therapists, and organizations/employers. The fitness and nutrition consultants segment are the fastest growing segment in the North America corporate wellness market during the forecast period. Corporate wellness programs are increasing rapidly across North America. The main motive for these programs is to create situations that offer employees to enhance their wellness and health at the workplace. Corporate wellness now- a-days has becomes more important as business and companies of all kinds are using the services of corporate wellness consultants. The fitness and nutrition consultant’s helps organize, manage, and administer wellness program.

Based on the delivery mode, the market is segmented into onsite and offsite. The offsite segment is expected to hold the largest share in the North America corporate wellness market during the forecast period.

Employers in North America are now offering their employees virtual health solution to improve their health and help them with their problems. The company offers web portals, which acts as a one stop resource for details about company’s health insurance and are utilizing covered medical care as wellness program services that may operate independent of health insurance.

Based on the end use, the market is segmented into small scale organizations, medium scale organizations, and large scale organizations. The large scale organizations segment is expected to hold the largest share in the North America corporate wellness market during the forecast period. The largest share of the large scale organizations can be attributed to increasing utilizations of workplace wellness programs by large scale organizations and favorable incentivization for employee participation in corporate wellness programs. Many large scale organizations such as Google LLC, Apple Inc, and Quest diagnostics are using corporate wellness services for their employee wellbeing.

Based on country, the market has been segmented as U.S., Canada, and Mexico. U.S. is expected to be the largest country in the North America corporate wellness market during the forecast period. U.S is expected to be the largest country in the North America corporate wellness market. The development in the market is driven by growing adoption of corporate wellness program by employers in the U.S., technology-powered corporate wellness solutions and increasing burden of chronic lifestyle disease and mental health problems in organizations. Prominent players offering corporate wellness solutions are also driving the growth of the market in the region.