"Designing Growth Strategies is in our DNA"

U.S. Corporate Wellness Market Size, Share & COVID-19 Impact Analysis, By Services (Health Risk Assessment, Smoking Cessation, Fitness, Weight/Nutrition Management, Stress Management, and Others), By Delivery Model (Onsite and Virtual), By End User (Small-sized Organizations, Medium-sized Organizations, and Large Organizations), and Country Forecast, 2023-2030

Region : United States | Format: PDF | Report ID: FBI108770

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The U.S. corporate wellness market size was worth USD 20.05 billion in 2022 and is projected to grow at a CAGR of 4.9% during the forecast period.


Corporate wellness is the set of programs & policies that promote employee health and behaviour. These programs encompass both mental and physical health and well-being.


The rising burden of chronic illness among workers in the country is one of the predominant factors bolstering the adoption of corporate wellness by the employers in order to reduce absenteeism, stress, and improve personal growth.


According to the American Institute of Stress 2022 survey, in the U.S., an estimated 83.0% of employees suffer from work related stress. Furthermore, according to the survey, depression-induced absenteeism costs around USD 51.00 billion to U.S. businesses. Such programs will contribute to the reduction of healthcare costs over the forecast period, as they promote preventive care and reduce treatment costs.


Furthermore, rising government initiatives to promote awareness regarding employees’ well-being and the launch of various programs by companies to cater to the rising demand are some of the few factors contributing to the U.S. corporate wellness market growth.


The market witnessed a slower growth during the COVID-19 pandemic. This was due to the temporary halt in various onsite wellness activities, such as onsite gym services and fitness classes.


LATEST TRENDS


Rising Launch of Programs to Support Mental Health Among Workers


The growing cases of mental health among working individuals are raising the demand for workplace wellness programs. Rising depression, stress, anxiety, and others owing to excessive workloads are affecting the mental health of employees. Furthermore, inequality and discrimination in the workspace and poor working environments is decreasing the employee work efficiency. Such factors are shifting the employer focus toward adopting corporate wellness programs to improve the work culture.



  • For instance, according to the 2022 report published by the Society for Human Resource Management, approximately 78.0% of organizations in the U.S. offer workplace mental health programs to their employees as a part of employee healthcare plans.


Furthermore, in order to cater to the rising demand for these services, the companies operating in the market are launching new plans, platforms, and programs.



  • For instance, in August 2023, United We Care launched mental health and wellness offerings as corporate employee assistance programs.


DRIVING FACTORS


Increasing Focus to Improve Employee Engagement and Reduce Cost by Organizations to Shoot Corporate Wellness Service Adoption


The growing number of employees leaving their jobs due to poor work culture has led the organizations to increase their focus on implementing programs to improve employee engagement. In addition, large and middle-sized organizations are investing heavily in order to adopt various preventive health programs to improve work efficiency, enable employees to be more active, and mitigate the effects of absenteeism. Such measures are adopted to reduce the cost and increase savings, raising the adoption of wellness programs.



  • For instance, according to the Employee Wellness Industry Trends Reports published in the year 2022, an estimated 71% of U.S. employers are planning to invest more in meditation benefits.


RESTRAINING FACTORS


Limited Accessibility Coupled with Privacy Concerns and Other Factors to Restrict the Market Growth


Despite the launches of various wellness programs for the workplace and the increasing adoption of these services by employers, the lack of employee engagement is one of the factors limiting the market growth. A multitude of factors, such as privacy concerns among the employees, restricted accessibility, limited management participation in the promotion of these services, and availability of generic programs, are impeding the market growth.



  • According to a report published by the IBM Institute of Business Values in 2021, an estimated 80.0% of employers reported supporting the emotional, mental, and physical well-being of their employees. However, only 46.0% of the employees agreed to the data.


Request a Free sample to learn more about this report.


According to the North American Industry Classification System (NAICS) 2023 data, the number of organizations with 1-4 employees in the U.S. is more when compared to the organization with 1000+ employees.


SEGMENTATION


By Services Analysis


Based on services, the market is categorized into health risk assessment, smoking cessation, fitness, weight/nutrition management, stress management, and others.


The health risk assessment segment held the lion’s share in the U.S. corporate wellness market in 2022. Health risk assessment programs in the corporate sector mainly comprises of screening programs to identify health-related risks. These programs help employers to implement appropriate strategies to promote healthy lifestyles among workers and improve work efficiency. In addition, companies offer health screening through various modes as per the employee’s requirement, which is promoting the adoption of these services.



  • For instance, in June 2020, Maximus Inc., a U.S. government services company, partnered with NexJ Health to provide mobile access to health screenings to its employees.


By Delivery Model Analysis


Based on delivery model, the market is categorized into onsite and virtual.


The virtual segment accounted for the highest share in 2022. The rising number of workers working from home is increasing the demand for virtual modes of delivery. Furthermore, the outbreak of the pandemic and the launch of various virtual platforms for workplace wellness are raising the adoption of virtual corporate wellness programs among the workers.



  • For instance, in 2021, Chipotle Mexican Grill collaborated with Aduro to launch a virtual wellness platform, Strive, in order to improve mental health among its employees.


By End User Analysis


Based on end user, the market is segmented into small-sized organizations, medium-sized organizations, and large organizations.


The large organizations segment accounted for the dominant share in 2022. The high rate of adoption of corporate wellness services among the large organizations, growing investments by the big companies to offer wellness programs to their employees in order to promote a healthy work-life balance and growing collaborations of multinational companies with corporate wellness providers are a few factors boosting the segmental growth.



  • According to 2020 statistics published by KFF, a non-profit organization in the U.S., an estimated 84% of large employers offered workplace wellness programs such as smoking cessation, weight loss programs, health screening, and others to employees.


KEY INDUSTRY PLAYERS


The U.S. market depicts the presence of various well-established companies such as Virgin Pulse, ComPsych, Privia Health, EXOS, and others. The adoption of various strategic initiatives such as mergers, acquisitions, and collaborations to expand their presence in the country are strengthening their market footing. Moreover, the launch of various programs to cater to the rising demand in the country also supports their revenue growth.



  • For instance, in June 2023, Virgin Pulse partnered with Headspace, a digital mental health company, to provide a wide range of mental health services to its employees and plan members.


Other players, such as Vitality, and Marino Wellness, among others, also held a significant U.S. corporate wellness market share in 2022. Increasing efforts to launch new services, shifting focus to strengthen their geographical footprints, entering various business activities to expand their services, and others are a few factors responsible for the growing market share of these companies.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2023- Virgin Pulse launched an integrated digital therapeutics suite conveniently embedded within Homebase for Health platform. The suite was introduced to provide employers a workplace program to manage chronic conditions such as prediabetes, weight management, among others and improve workforce productivity.

  • January 2023 – Sharecare, a digital health company, launched a new program, Get Active. The solution was launched to support employers by offering fitness programs and encouraging exercises among their employees.

  • October 2022- Exos introduced a digital application called “The Game Changer” to reduce stress among workers and boost their passion for work.


REPORT COVERAGE


An Infographic Representation of U.S. Corporate Wellness Market

To get information on various segments, share your queries with us



The U.S. corporate wellness market report provides a detailed analysis of the market. It focuses on key aspects such as an overview of various services, the prevalence of various chronic diseases in the U.S., and number of organizations with employment size. In addition, it includes key industry developments such as mergers, partnerships, acquisitions, and the impact of COVID-19 on the market. Besides this, the report offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the U.S. market over recent years.


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 4.9% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Services



  • Health Risk Assessment

  • Smoking Cessation

  • Fitness

  • Weight/Nutrition Management

  • Stress Management

  • Others



By Delivery Model



  • Onsite

  • Virtual



By End User



  • Small-sized Organizations

  • Medium-sized Organizations

  • Large Organizations






Frequently Asked Questions

Fortune Business Insights says that the U.S. market was worth USD 20.05 billion in 2022.

The market is expected to exhibit a CAGR of 4.9% during the forecast period (2023-2030).

By service, the health risk assessment accounted for a leading market share.

Virgin Pulse, ComPsych, Privia Health, and EXOS are the prominent players in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Dec, 2023
  • 2022
  • 2019-2021
  • 70

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X