The North America workplace wellness market was valued at $15,755.33 million in 2020, and is projected to reach $24,298.52 million by 2028, registering a CAGR of 5.9% from 2021 to 2028. Workplace wellness programs are a harmonized set of health promotion strategies that are executed at worksites and include programs, policies, and certain benefits to the community designed to encourage health and safety of employees. Employee wellness programs are gradually becoming common in many organizations to keep employees productive and decrease employee turnover. The report covers types of workplace wellness plans including weight management & fitness services, nutrition & dietary plan, stress management services, health screening & assessment, and smoking cessation. Wellness programs approach certain policies and interferences that address multiple risk factors and health conditions and plan strategies that may influence multiple organization levels, including individual employee behavior change, organizational culture, and worksite environment. Workplace wellness programs are considered as important integral part of an organization or a company, which combines individual and organizational level strategies and interventions to influence health.
COVID-19 Impact
COVID-19 outbreak has majorly impacted the market in the initial phase of the forecast period. The pandemic has resulted in downsizing of employees in many organizations. Companies are laying off employees in an effort to cut the overall costs. Laying off employees in the form of cost cutting has reduced workplace wellness employee enrollments, which is anticipated to create a negative impact on the workplace wellness market. On the other hand, pandemic has accelerated the uptake of tele-health solutions and have positively boosted the virtual care in the workplace wellness market. Furthermore, COVID-19 pandemic has highlighted the need of prioritizing employee health and well-being, both physically and mentally. For a better understanding of COVID-19's influence on the North America workplace wellness industry, prominent companies have implemented various tactics along with favorable government efforts. The overall impact of COVID-19 on the North America workplace wellness market is expected to remain moderate. The market players are currently facing issues owing to lesser number of employees enrolled in the schemes and programs. However, this deleterious impact is anticipated to compensate by increasing modification in the workplace wellness schemes for the employees as well as surge in work-related stress due to work from home obligations since, employees are finding it difficult to maintain work-life balance, which results in mental and physical stress. Such instances in near future are likely to have a positive impact on the growth of the North America workplace wellness market.
Type Segment Review
The workplace wellness market, by type, is categorized into weight management & fitness services, nutrition & dietary plan, stress management services, health screening and assessment, and smoking cessation. The health screening and assessment segment was the largest growing segment in 2020 and is expected to maintain its dominance throughout the forecast period. This is attributed to an increase in attention among the employers toward maintaining the health of their employees for enhancing productivity and mitigating losses. Furthermore, health screening and assessment covers tests including standard tests such as total cholesterol, low-density lipoproteins (LDL), high-density lipoproteins (HDL), triglycerides, glucose, and body composition.
By Type
Health Screening and Assessment segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
End User Segment Review
The end user segment is categorized into small-size private organizations, mid-size private organizations, large-size private organizations, public sector, and NGOs. In 2020, large-size private organizations accounted for the largest market share, and this trend is expected to continue throughout the forecast period. This is due to the fact that such large organizations employ a huge number of people. Furthermore, firms with a larger workforce are more likely to have the more financial resources to invest in employee wellness initiatives.
By End User
Large size organizations segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Country segment review
The North America workplace wellness market is analyzed across three countries, namely, the U.S., Mexico, and Canada. The workplace wellness market in the U.S. experienced a notable market growth, owing to the rapid adoption of various workplace wellness programs such as weight management, nutritional balance, fitness classes, smoking cessation programs, and others by the employers. Various corporations have specialized programs for stress management, as long working hours and feeling of isolation are taking a toll on their mental health. For instance, according to a research conducted by the American Institute of Stress (AIS), 40% of employees reported their job was very or extremely stressful, and 25% view their jobs as the number one stressor in their lives. As a result of which, several organizations across the U.S. are undertaking workplace wellness programs for the betterment of their employees. These programs are aimed to foster healthy behavior, reduce medical spending, increase productivity at work, and improve well-being. The corporations have further made this programs available in pandemic as well, over tele-health and virtual solutions. Moreover, according to the American Lung Association, smoking-related diseases in the U.S. cost more than $300 billion a year, cigarette smoking kills around 480,000 Americans every year. Thus, smoking cessation programs are of an immense importance for employers to increase work efficacy. Moreover, rise in incidences of cancer and chronic diseases such as obesity and diabetes propels the market growth in this region.
By Country
U.S. was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current North America workplace wellness market trends and forecast estimations from 2020 to 2028, which assists to identify the prevailing market opportunities.
- An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the regional market is provided.
- The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2028, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the North America workplace wellness market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the North America workplace wellness market.
Key Market Segments
By Type
- Weight Management & Fitness Services
- Nutrition & Dietary Plan
- Stress Management Services
- Health Screening & Assessment
- Smoking Cessation
By End User
- Large-size organizations
- Mid-size organizations
- Small-size organizations
- Public sector
- NGOs
By Country
- North America
- U.S.
- Canada
- Mexico
KEY MARKET PLAYERS
- Alphabet Inc.
- Compsych Corporation
- Concierge Health
- Healthy Contributions LLC
- Marino Wellness, LLC
- Marlin Equity Partners, LLC (Virgin Pulse, Inc.)
- Modern Life, Inc. (Modern Health)
- Novant Health
- Virtual Health Partners Inc.
- Wellable Inc.
North America Workplace Wellness Market Report Highlights
| Aspects | Details |
 By Type |
|
 By End User |
|
 By Country |
|
 Key Market Players | Concierge Health, Marino Wellness, LLC, Alphabet Inc., Virtual Health Partners Inc., Modern Life, Inc. (Modern Health), Novant Health, Compsych Corporation, Wellable Inc., Marlin Equity Partners, LLC (Virgin Pulse, Inc.), Healthy Contributions LLC |
Analyst Review
Adoption of workplace wellness by large-scale employers as well as small scale employers have augmented in recent years. A worker’s well-being or fitness is the key factor that defines an organization’s long-term success. Many studies show a direct link between productivity levels and general health and well-being of any workforce. Various enterprises and organizations are gradually recognizing significance of well-being of their employees. Small scale organizations have initiated programs to address well-being of employees and focus on their health issues.
North America workplace wellness market is anticipated to witness a significant growth in the future. The most adopted type of workplace wellness programs include health screening and assessments including standard tests such as total cholesterol, low-density lipoproteins (LDL), high-density lipoproteins (HDL), triglycerides, glucose, and body composition (BMI, waist circumference, and body fat percentage).
Moreover, there is a steady increase of such programs in developing economies, which further propels the market growth. Further, the U.S. dominated the North America workplace wellness market, owing to increase in adoption of wellness programs by companies, presence of more large-scale organizations, and awareness among employers toward maintenance of the wellbeing of their employees.
The total market value of North America workplace wellness Market is $15,755.33 million in 2020
The forecast period in the report is from 2020 to 2028
The market value of North America workplace wellness Market in 2021 was $16,233.72 Million
The base year for the report is 2020
Yes, North America workplace wellness companies are profiled in the report
The top companies that hold the market share in North America workplace wellness Market are Alphabet, Inc. (Fitbit, Inc.), Wellable, Inc., Concierge Health and Healthy Contributions LLC.
No, there is no value chain analysis provided in the North America workplace wellness Market report
The key trends in the North America workplace wellness Market are surge in stressed environment in workplaces, owing to stringent timelines and higher adoption and enrollment to these programs across several organizations.
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