Global corporate wellness market to reach $ 87.3 billion by 2026

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FACTS AT A GLANCE
Editing: 6; Posted: April 2021
Management commitments: 379
Companies: 152 РPlayers covered include ADURO, INC .; Beacon Health Options, Inc .; Bupa Wellness Pty Ltd; Corporate wellness center; ComPsych Company; EXERCISES ; Fitbit Health Solutions; HealthifyMe PVT wellness products and services. LTD .; Marine well-being; Morneau Shepell Lt̩e; Privia Health, LLC; Sodexo Group; The Vitalit̩ Group, Inc .; Truworth Health Technologies Pvt. Ltd; Virgin Pulse, Inc .; Well Nation; Corporate wellness solutions; Wellsource, Inc. et al.
Blanket: All major geographies and key segments
Segments: Service (health risk assessment, physical condition, smoking cessation, medical screening, nutrition and weight management, stress management, other services); Organization size (small, medium, large)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.

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ABSTRACT-

Global corporate wellness market to reach $ 87.3 billion by 2026
Corporate well-being encompasses the physical and metallic well-being of employees, the cornerstone of the strength, stability, sustainability and growth of the company. The concept of well-being has received considerable attention in organizations in recent years due to its ability to influence the health, mental well-being, performance and quality of life of employees. This trend can be attributed to the increasing incidence of high blood pressure, high cholesterol, obesity and cardiovascular problems among employees. Unhealthy lifestyles and associated chronic diseases force head offices to endure loss of trillion dollars in terms of lost productivity. These issues prompt various organizations to focus on corporate wellness to promote healthy behaviors among employees. Businesses around the world are adjusting their wellness plans based on the current public health crisis and given the devastating scale of the pandemic, the impact has been quite positive. The integration of workplace wellness programs, whether physical or virtual, has become the top priority for companies around the world.

In the midst of the COVID-19 crisis, the global corporate wellness market is estimated to be US $ 56.7 billion in 2020, is expected to reach a revised size of 87.3 billion US dollars by 2026, with a CAGR of 7.3% over the analysis period. Health risk assessment, one of the segments analyzed in the report, is expected to register a CAGR of 6.2% and reach US $ 20.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the Fitness segment is readjusted to a revised CAGR of 6.9% for the next 7-year period. With the increasing susceptibility to chronic diseases such as cancer, respiratory disease, diabetes, etc., even among the youngest, there is an increasing emphasis on including risk assessment plans for health in wellness programs. In addition to helping companies reduce employee health costs, health risk assessment enables employees to identify a possible future of health and set wellness goals. The assessment of health risks begins with the analysis of the medical history, state of health and lifestyle of employees.

The US market is estimated at $ 20.4 billion in 2021, when China is expected to reach $ 7.3 billion by 2026
The corporate wellness market in the United States is estimated at US $ 20.4 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of 7.3 billion US dollars by 2026, with a CAGR of 8.6% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 6.4% and 7% respectively during the analysis period. In Europe, Germany is expected to grow at around 6.8% CAGR. The United States is a key market. In United States, the Affordable Care Act allows employers to increase the amount of their financial incentives to attend wellness programs. Under the new rules, companies can penalize non-participating employees by increasing their premium contribution up to 30% of the cost of the plan for not completing or engaging in corporate wellness programs.

Tobacco cessation segment to achieve $ 13.5 billion by 2026
Smoking cessation programs help smokers choose and receive the right medication, such as lozenges, gums or patches, to reduce the urge to smoke and ease withdrawal symptoms. Cigarette addiction worldwide is expected to increase despite efforts by organizations and governments around the world to raise awareness of the harmful effects of tobacco, the imposition of high taxes on various tobacco products in an attempt to reduce their use and approval of tobacco products that are less harmful and innovative as a suitable substitute for traditional cigarettes. In recent years, a growing number of organizations have begun to focus on workplace smoking cessation programs to help employees improve their health and potentially increase their bottom line by increasing productivity and saving money. health care costs. In the global tobacco cessation segment, United States, Canada, Japan, China and Europe will drive the estimated 6.4% CAGR for this segment. These regional markets representing a combined market size of 7.4 billion US dollars in 2020 will reach a projected size of US $ 11.5 billion before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 1.2 billion by 2026. After

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