The global U.S. Corporate wellness market is estimated to be valued at US$ 12.28 Bn in 2022 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
The U.S. Corporate wellness market caters to corporate-sponsored wellness programs that promotes healthy behaviors, prevent chronic diseases, and improve productivity among employees. These programs offer a variety of health screening services, fitness programs, medical exams, weight management programs and smoking cessation programs.
Market key trends
One of the key trends driving growth in the U.S. Corporate wellness market is the growing recognition of employee wellness programs in reducing healthcare costs and improving productivity. Various employers have implemented wellness initiatives to incentivize employees towards healthier behaviors and habits. These programs have shown to reduce absenteeism and presenteeism at work, thereby improving overall productivity. The emphasis on prevention and early detection of chronic diseases through screenings and medical exams in corporate wellness programs is also fueling market growth.
The U.S. corporate wellness market is dominated by the stress management segment due to rising stress levels among employees across organizations. Stress management programs aid in reducing stress and enhancing mental well-being, thereby boosting employee productivity and engagement. Growing awareness about the benefits of managing stress through corporate wellness programs is supporting the growth of this segment.
The U.S. Corporate Wellness Market Size is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to increasing health consciousness among employers and employees. The growing need to control rising healthcare costs is driving companies to offer wellness programs.
The western United States accounts for the dominant share in the country’s corporate wellness market, owing to early adoption of wellness initiatives by organizations based in states like California and Washington. Furthermore, presence of technologically advanced wellness service providers is boosting the market growth in the western region.
Key players operating in the U.S. corporate wellness market are Ayco, Aquila, BSDI, Aduro, Active Wellness, Virgin Pulse, Compsych, Provant Health Solutions, American Specialty Health, Wellness Corporate Solutions, and Bank of America Merrill Lynch, among others. Leading companies are focusing on strategic collaborations and launching innovative wellness platforms to solidify their market position.