CHICAGO, Dec. 7, 2022 /PRNewswire/ — According to Arizton’s latest research report, the U.S. corporate wellness market will grow at a CAGR of 12.27% from 2021-2027. The growing role of wellness champions, the use of technology to improve outcomes and the growing reign of artificial intelligence are some of the latest trends driving the market. Corporate profits that recorded an uptick after a long period of sluggish growth are also fueling the adoption of wellness programs. This puts employees in a better place in terms of being able to allocate budgets for corporate wellness programs. Therefore, the corporate wellness market in the US is expected to witness growth during the forecast period. Vendors are also looking at new ways to deliver these programs using the potential of digital technology to host virtual screenings and offer information via company portals.
The U.S. Corporate Wellness Market Report Scope
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Report Attributes |
Details |
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Market Size (2027) |
USD 22.65 Billion |
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Market Size (2021) |
USD 11.31 Billion |
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CAGR (2021-2027) |
12.27 % |
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Base Year |
2021 |
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Forecast Year |
2022-2027 |
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Market Segments |
Program, Revenue Model, Delivery Model, Incentive Programs, Type, Industry, and End-User |
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Geographical Analysis |
The U.S. (South, West, Midwest, and Northeast) |
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Key Leading Companies |
Compsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions, Active Wellness, Aduro, Alyfe Wellbeing Strategies, American Specialty Health, Aquila, AYCO, Bank of America Merill Lynch, BaySport, Beacon Health Options, Best Money Moves, Brightdime, Brightside, BSDI, Castlight Health, Ceridian, Corporate Fitness Works, DHS Group, Edukate, Elite Wellness, Enrich, Even, EXOS, Financial Fitness Group, Financial Knowledge, FlexWage, HealthCheck360, HealthFitness, HealthTrax, Holberg Financial, Health Advocate, Integrated Wellness Partners, Karelia Health, Kersh Health, Kinema Fitness, LearnLux, LifeCents, LifeDojo, LifeStart, Limeade, LIVunLtd, Marino Wellness, Marathon Health, Mercer, NIFS, Money Starts Here, My Secure Advantage, The National Institute for Fitness and Sport (NIFS), OptumHealth, Orriant, Payactiv, Power Wellness, Premise Health, Privia Health, Professional Fitness Management, Prudential Financial, Purchasing Power, Ramsey Solutions, Reach Fitness, Sonic Boom Wellness, Sprout, StayWell, Transamerica, Vantage Circle, Vitality Group, Wellable, Wellness Coaches USA, Wellsource, WellSteps, Wisdom Works Group, Woliba, Workstride, WTS International, Origin, BrightPlan, Savology, Sqwire, FinFit, Pro Financial Health, FutureFuel.io, Salary Finance, SoFi, GoPlan 101, The Financial Gym, PDHI, Novant Health, and Sum180 |
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Market Dynamics |
· Growing Role of Wellness Champions · Use of Technology to Improve Outcomes · Offering Various Solutions Under One Roof |
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Page Number |
545 |
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Customization Request |
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As new generations enter the workforce, a new perspective emerges in which mental and financial stability and wellness are equated with being debt-free, financially stress-free, healthy, and able to spend without worry while saving enough for emergencies. COVID-19 has resulted in new market realities and advancements. Future pays raises have been impacted as companies face unpredictable revenue streams and budgets. Employers are willing to offer customized corporate wellness benefits as they realize that monetary benefits are only one of the ways to retain employees.
Financial wellness programs are on their way to becoming the next big thing in corporate wellness programs. Almost 50% of employers offer financial wellness programs in sync with their retirement plans. Employers are increasingly looking to address retirement preparedness and healthcare costs with financial wellness programs. As a result, many vendors have launched offerings that can help supplement traditional benefit programs with wellness-oriented ones. For instance, Best Money Moves enables employers to identify the source of financial stress through its Stressometer, which measures several types of financial stress ranging from bankruptcy to student loans and then provides custom content on navigating these pitfalls.
Key Insights Mentioned in the Report
- In 2021, the telehealth market started to gain high popularity and effectiveness. It was also observed that in 2021, amongst people belonging to various ethnicities, gender, and age groups, more than 50% of the population preferred video consultations compared to telephonic consultations.
- The market depends on personal fitness trainers, individual counselors, and meditation specialists. There are several players in the industry, and thus, these services can be easily obtained. As a result, the US corporate wellness market witnesses low bargaining power of suppliers, benefiting industry vendors.
Strategies Adopted by the Vendors
The US corporate wellness market is highly fragmented, with the leading vendors accounting for less than 15% of the share. However, the market is witnessing consolidation, albeit at a slow pace. The industry is grappling with the sudden increase in corporate wellness providers witnessing competition from in-house services. The market has seen the entry of many external players in recent years, such as in-house services by large businesses and other entities in the health and fitness space that offer membership discounts to increase their market share. Vendors seeking to collaborate with established groups within the employee population to improve awareness and engagement in wellness programs and seek feedback about program offerings and implementation.
Key Vendors
- Compsych
- Wellness Corporate Solutions
- Virgin Pulse
- Provant Health Solutions
- Active Wellness
- Aduro
- Alyfe Wellbeing Strategies
- American Specialty Health
- Aquila
- AYCO
- Bank of America Merill Lynch
- BaySport
- Beacon Health Options
- Best Money Moves
- Brightdime
- Brightside
- BSDI
- Castlight Health
- Ceridian
- Corporate Fitness Works
- DHS Group
- Edukate
- Elite Wellness
- Enrich
- Even
- EXOS
- Financial Fitness Group
- Financial Knowledge
- FlexWage
- HealthCheck360
- HealthFitness
- HealthTrax
- Holberg Financial
- Health Advocate
- Integrated Wellness Partners
- Karelia Health
- Kersh Health
- Kinema Fitness
- LearnLux
- LifeCents
- LifeDojo
- LifeStart
- Limeade
- LIVunLtd
- Marino Wellness
- Marathon Health
- Mercer
- NIFS
- Money Starts Here
- My Secure Advantage
- The National Institute for Fitness and Sport (NIFS)
- OptumHealth
- Orriant
- Payactiv
- Power Wellness
- Premise Health
- Privia Health
- Professional Fitness Management
- Prudential Financial
- Purchasing Power
- Ramsey Solutions
- Reach Fitness
- Sonic Boom Wellness
- Sprout
- StayWell
- Transamerica
- Vantage Circle
- Vitality Group
- Wellable
- Wellness Coaches USA
- Wellsource
- WellSteps
- Wisdom Works Group
- Woliba
- Workstride
- WTS International
- Origin
- BrightPlan
- Savology
- Sqwire
- FinFit
- Pro Financial Health
- FutureFuel.io
- Salary Finance
- SoFi
- GoPlan 101
- The Financial Gym
- PDHI
- Novant Health
- Sum180
Market Segmentation
Program
- HRA
- Nutrition & Weight Management
- Smoking Cessation
- Fitness Services
- Alcohol & Drug Rehab
- Stress Management
- Health Education Services
- Financial Wellness
- Other Corporate Wellness Services
Revenue Model
- Recurring Revenue Model
- Seasonal Revenue Model
Delivery Model
Incentive Programs
- Participatory Programs
- Health-Contingent Programs
Type
Industry
- Media and Technology
- Healthcare
- Financial Services
- Manufacturing
- Retail
- Others
End-User
- Large Private Sector Businesses
- Medium Private Sector Businesses
- Public Sector Companies
- Small Private Sector Businesses
- Non-Profit Organizations
Region
- US
- South
- West
- Midwest
- Northeast
Table of Content
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Type
4.4.2 Market Segmentation by Service
4.4.3 Market Segmentation by Delivery Mode
4.4.4 Market Segmentation by Location
4.4.5 Market Segmentation by End-User
4.4.6 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.1.1 Causes of Stress
7.1.2 Technological Advancements
7.1.3 Cost of Stress to US Corporates
7.1.4 Stressed Workers in The US Automotive Industry
7.1.5 Model of The Stress Process
7.1.6 Stress Management Techniques
7.1.7 Income Analysis in the US
7.1.8 Historical Data
7.2 Impact of Covid-19
8 Market Opportunities & Trends
8.1 Rising Attention Toward Occupational Safety and Health Regulations
8.2 Employee Turnover Rate
8.3 Stress Encountered by Women Being Higher Due to Covid-19
8.4 Increasing Use of Artificial Intelligence
9 Market Growth Enablers
9.1 Rise in The Number of Working Hours
9.2 Increasing Awareness of Stress Management
9.3 Changing Needs of Employees
10 Market Restraints
10.1 Increased Sense of Anxiety
10.2 Low Participation of Employees
10.3 Barriers and Stigma in Workplace Stress Management
11 Market Landscape
11.1 Market Size & Forecast
11.2 Five Forces Analysis
11.2.1 Threat of New Entrants
11.2.2 Bargaining Power of Suppliers
11.2.3 Bargaining Power of Buyers
11.2.4 Threat of Substitutes
11.2.5 Competitive Rivalry
12 Stress Management Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Mental
12.3.1 Market Size & Forecast
12.3.2 Market by Region
12.4 Physical
12.4.1 Market Size & Forecast
12.4.2 Market by Region
13 Service
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Stress Assessment
13.3.1 Market Size & Forecast
13.3.2 Market by Region
13.4 Yoga & Meditation
13.4.1 Market Size & Forecast
13.4.2 Market by Region
13.5 Progress Tracking Metrics
13.5.1 Market Size & Forecast
13.5.2 Market by Region
13.6 Resilience Training
13.6.1 Market Size & Forecast
13.6.2 Market by Region
13.7 Others
13.7.1 Market Size & Forecast
13.7.2 Market by Region
14 Delivery Mode
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Personal Fitness Trainers
14.3.1 Market Size & Forecast
14.3.2 Market by Region
14.4 Meditation Specialists
14.4.1 Market Size & Forecast
14.4.2 Market by Region
14.5 Individual Counselors
14.5.1 Market Size & Forecast
14.5.2 Market by Region
14.6 Others
14.6.1 Market Size & Forecast
14.6.2 Market by Region
15 Location
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 On-Premise
15.3.1 Market Size & Forecast
15.3.2 Market by Region
15.4 Off-Premise
15.4.1 Market Size & Forecast
15.4.2 Market by Region
16 End-User
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Large Private Sector
16.3.1 Market Size & Forecast
16.3.2 Market by Region
16.4 Medium Private Sector
16.4.1 Market Size & Forecast
16.4.2 Market by Region
16.5 Public Sector
16.5.1 Market Size & Forecast
16.5.2 Market by Region
16.6 Small Private Sector
16.6.1 Market Size & Forecast
16.6.2 Market by Region
16.7 Non-Profit Organizations
16.7.1 Market Size & Forecast
16.7.2 Market by Region
16.8 Others
16.8.1 Market Size & Forecast
16.8.2 Market by Region
17 Region
17.1 Market Snapshot & Growth Engine
17.2 Region Overview
18 South
18.1 Market Size & Forecast
18.2 Type
18.2.1 Market Size & Forecast
18.3 Service
18.3.1 Market Size & Forecast
18.4 Location
18.4.1 Market Size & Forecast
18.5 Delivery Mode
18.5.1 Market Size & Forecast
18.6 End-User
18.6.1 Market Size & Forecast
19 West
19.1 Market Size & Forecast
19.2 Type
19.2.1 Market Size & Forecast
19.3 Service
19.3.1 Market Size & Forecast
19.4 Delivery Mode
19.4.1 Market Size & Forecast
19.5 Location
19.5.1 Market Size & Forecast
19.6 End-User
19.6.1 Market Size & Forecast
20 Midwest
20.1 Market Size & Forecast
20.2 Type
20.2.1 Market Size & Forecast
20.3 Service
20.3.1 Market Size & Forecast
20.4 Location
20.4.1 Market Size & Forecast
20.5 Delivery Mode
20.5.1 Market Size & Forecast
20.6 End-User
20.6.1 Market Size & Forecast
21 Northeast
21.1 Market Size & Forecast
21.2 Type
21.2.1 Market Size & Forecast
21.3 Service
21.3.1 Market Size & Forecast
21.4 Location
21.4.1 Market Size & Forecast
21.5 Delivery Mode
21.5.1 Market Size & Forecast
21.6 End-User
21.6.1 Market Size & Forecast
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 COMPSYCH
23.1.1 Business Overview
23.1.2 Service Offerings
23.1.3 Key Strategies
23.1.4 Key Strengths
23.1.5 Key Opportunities
23.2 LABCORP
23.3 CVS HEALTH (ACTIVEHEALTH)
23.4 CURALINC HEALTHCARE
23.5 MARINO WELLNESS
24 Other Prominent Vendors
24.1 ASSET HEALTH
24.1.1 Business Overview
24.1.2 Service Offerings
24.2 FITBIT
24.3 WELLSOURCE
24.4 SOL WELLNESS
24.5 VITALITY
24.6 VIRGIN PULSE
24.7 ACTIVE WELLNESS
24.8 ADURO
24.9 ALYFE WELLBEING STRATEGIES
24.10 BEACON HEALTH OPTIONS
24.11 CASTLIGHT
24.12 CERIDIAN
24.13 CORPORATE FITNESS WORKS
24.14 HEALTHCHECK360
24.15 INTEGRATED WELLNESS PARTNERS
24.16 HEALTHFITNESS
24.17 PROVANT HEALTH SOLUTIONS
24.18 LIFESTART
24.19 EXOS
24.20 Karelia Health
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market by Region
26.2 South
26.2.1 Type
26.2.2 Service
26.2.3 Delivery Mode
26.2.4 Location
26.2.5 End-User
26.3 West
26.3.1 Type
26.3.2 Service
26.3.3 Delivery Mode
26.3.4 Location
26.3.5 End-User
26.4 Midwest
26.4.1 Type
26.4.2 Service
26.4.3 Delivery Mode
26.4.4 Location
26.4.5 End-User
26.5 Northeast
26.5.1 Type
26.5.2 Service
26.5.3 Delivery Mode
26.5.4 Location
26.5.5 End-User
26.6 Type
26.6.1 Mental
26.6.2 Physical
26.7 Service
26.7.1 Stress Assessment
26.7.2 Yoga & Meditation
26.7.3 Progress Tracking Metrics
26.7.4 Resilience Training
26.7.5 Others
26.8 Delivery Mode
26.8.1 Personal Fitness Trainers
26.8.2 Meditation Specialists
26.8.3 Individual Counselors
26.8.4 Others
26.9 Location
26.9.1 On-Premise
26.9.2 Off-Premise
26.10 End-User
26.10.1 Large Private Sector
26.10.2 Medium Private Sector
26.10.3 Public Sector
26.10.4 Small Private Sector
26.10.5 Non-Profit Organizations
26.10.6 Others
27 Appendix
27.1 Abbreviations
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