July 13, 2024

Rising chronic diseases to drive U.S. Corporate Wellness Market Growth

U.S. Corporate Wellness Market (By Service: Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Nutrition & Weight Management, Others; By End Use: Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations; By Category: Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers; By Delivery Model: On-site, Offsite) By Geography (U.S)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The U.S. Corporate Wellness Market is estimated to be valued at US$ 19.0 billion in 2023  and is expected to exhibit a CAGR of 3.87 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview

Corporate wellness programs are projected to enhance and boost a comprehensive method of employee health by raising a health-conscious corporate culture. Bosting regular exercise and physical exercise such as walking, climbing stairs, and others. One should disinfect the workplace. Utilizing disinfectants and sterilizers to enhance proper hygiene among the employees is helpful. One should promote the advantages of proper nutrition and build healthy eating habits in the office.

Competitive Landscape:

Key players involved in the growth of the U.S. Corporate Wellness Market are ComPsych Corporation., Kinema Fitness, Virgin Pulse., Sol Wellness, Marino Wellness., Fitbit, Practo, Privia Health., EXOS, and Wellsource, Inc.

Market Key Drivers:

The rising prevalence of chronic diseases such as cancer, obesity, and diabetes is expected to drive the growth of U.S. Corporate Wellness Market. For instance, as per NIH, around 1,958,310 new cancer cases were detected in U.S.

Rising cardiovascular disorders and obesity is projected to propel the growth of U.S. Corporate Wellness Market. For instance, as per CDC, around 695,000 people in the U.S. died from cardiovascular disease in 2021.

Covid-19 Impact Analysis:

The Covid-19 outbreak has positively affected the growth of U.S. Corporate Wellness Market due to several studies that have been performed which showed that individuals with chronic diseases, such as diabetes, hypertension, cancer, and cardiovascular disorders, are among the most vulnerable populace to COVID-19 infection and its significances. This has propelled several people to pay more attention to their well-being and raise health awareness at work.

Key Takeaways:

The U.S. Corporate Wellness Market is expected to exhibit a CAGR of 3.87 % during the forecast period owing to the rising launches and approvals. For instance, In January 2021, United Health Group launched virtual primary care for staff to control chronic diseases.

Among regions, North America, Asia Pacific, and Europe are anticipated to witness robust growth in the U.S. Corporate Wellness Market due to increasing investments, increasing approvals and launches, rising partnerships and collaborations and increasing chronic diseases. For instance, U.S. Based Peloton Interactive Inc., launched a corporate wellness event to reach new customers and grow its membership base.