U.S. Corporate Wellness Market Size, Share & Trends Analysis Report By Service (Health Risk Assessment, Fitness), By End Use, By Category, By Delivery Model (Onsite, Offsite), By Region, And Segment- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. corporate wellness market size was estimated at USD 19.60 billion in 2022 and is expected to surpass around USD 28.68 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 3.88% during the forecast period 2023 to 2032.

Key Takeaways:

• Based on service, the market is segmented into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, and others. The health risk assessment segment dominated the market in 2022 with a revenue share of 22.16%.
• The stress management segment is anticipated to witness a maximum CAGR of 5.34% during the forecast period.
• The large-scale organizations with a share of 54.6% dominated the market in 2022. 
• The medium-scale organizations segment is projected to register the highest CAGR of 4.31% during 2023-2032. 
• The organizations/ employers segment with 50.6% in 2022 accounted for the maximum portion of the market
• The onsite segment held the maximum market share of 56.5% in 2022.
• The offsite segment is projected to witness lucrative growth of 4.48% during the forecast period.

U.S. Corporate Wellness Market Report Scope

The Increasing awareness regarding wellness services at the workplace, high Return on Investment (ROI), and reduction in expenditure on employee healthcare costs are some of the factors driving the market growth.

The increasing awareness regarding the benefits of wellness services in reducing the cost of absenteeism due to loss of productivity is encouraging employers to adopt corporate wellness services. In 2019, the Centers for Disease Control and Prevention (CDC) reported that around 30% of employers offered a wellness program for addressing sedentary behavior, fitness, or physical activity. It also stated that approximately 19% and 17% of employers offered programs, including tobacco cessation and obesity or weight management, respectively.

The service providers are undertaking research and development activities to provide innovative solutions to offer better employee service. Moreover, they are engaging in partnerships and mergers & acquisitions to strengthen their market presence. For instance, in January 2018, Virgin Pulse, digital employee health, wellbeing, and engagement solutions provider, acquired Preventure, a Coventry-based corporate wellness provider. The acquisition will provide Preventure customers access to software solutions and increase Virgin Pulse clientele.

The COVID-19 pandemic is creating a feeling of isolation among employees and financial insecurity, which is affecting their mental health. Wellness providers are adopting various measures, such as guiding tackling the financial crisis, virtual access to physicians and psychologists, and programs to engage employees in wellness activities, to promote and maintain their health.

Service Insights

Based on service, the market is segmented into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, and others. The health risk assessment segment dominated the market in 2022 with a revenue share of 22.16%. The HRA analyzes information such as height, weight, level of physical activity, smoking habits, and stress level of the employees to derive the risk factors affecting the employees’ health. The segment growth is attributed to the growing trend to adopt health risk assessment as a service while offering employee wellness services.

The stress management segment is anticipated to witness a maximum CAGR of 5.34% during the forecast period. due to the increasing prevalence of stress in the workplace. The health screening segment is projected to witness growth owing to the increasing emphasis on preventing health. Wellness programs mainly comprise screening activities for the identification of probable health risks and the implementation of the required intervention strategies for promoting a healthy lifestyle.

Fitness programs are a pivotal part of any workplace health program. Many companies provided their employees with health wristbands, such as Fitbit, in the past to monitor their daily physical activity. Employers encourage their employees to be more active and special recognition is given to those who can reach their targets daily. Increasing adoption of remote patient monitoring devices is expected to drive the growth of the fitness segment. The increasing smoking population and rising awareness about side effects are major factors driving the growth of the smoking cessation segment.

End-use Insights

The large-scale organizations with a share of 54.6% dominated the market in 2022. The segment growth is attributed to the availability of capital for investing in wellbeing services and sufficient space for providing onsite health services for employees. Large-scale organizations offer various services on their campuses, such as physicians, therapists, and chiropractors. This eventually saves employees time and also contributes to their productivity.

The implementation of corporate wellness programs helps in tracking various diseases. Health screening programs are conducted at regular intervals to keep a health check, promote preventive care, and reduce treatment costs. The focus on such conditions can reduce the disease burden and the overall cost of healthcare premiums paid by the employer to any insurance provider. Although lockdown and closure of offices have resulted in a large group of employees switching to work from home models, it remains vital to ensure that employees can access and continue to use health services at the workplace.

The medium-scale organizations segment is projected to register the highest CAGR of 4.31% during 2023-2032. The quick adoption of these services by medium-scale organizations is expected to contribute to the growth of the segment in the coming years. Rising awareness about employee health programs and increased absenteeism and attrition are anticipated to boost the growth of small and medium-scale organizations. These organizations can provide their employees with on-site services, such as yoga and meditation classes. This can be done bi-monthly or once a month.

Category Insights

In terms of category, the market is bifurcated into fitness & nutrition consultants, psychological therapists, and organizations/ employers. The organizations/ employers segment with 50.6% in 2022 accounted for the maximum portion of the market. The service providers offer in-house as well as outsourced health management services for large as well as small-scale corporations.

The trend of on-site fitness, which includes yoga and meditation, is becoming popular. Employers are significantly investing in offering healthy diets by providing catering options on campus and are hiring fitness coaches for their employees. Therefore, The fitness & nutrition consultants segment is expected to exhibit the fastest growth of 4.38% during the forecast period.

Employers often provide their employees with meditation and yoga sessions for releasing stress. Stressed employees tend to get angry frequently, which negatively impacts an organization. Thus, organizations provide art therapy, which is a unique technique for releasing stress. It is considered a form of expressive psychotherapy that uses art to improve a person’s emotional, physical, and mental well-being. Professionals also use this therapy on people suffering from emotional and mental disorders. Increasing demand for such therapy is propelling the growth of the psychological therapist segment.

Delivery Model Insights

The onsite segment held the maximum market share of 56.5% in 2022. The segment is anticipated to witness considerable growth over the forecast period. Onsite initiatives provide a personal touch to employee well-being, along with the facilities to exercise under the guidance of fitness consultants and coaches to meet their personal health needs.

Many organizations have restructured or added benefits and insurance plans to meet employees and their families health needs. Service providers are creating awareness among employees regarding unhealthy aspects related to working from home due to COVID-19. For instance, the pandemic has resulted in a shift from in-person meetings to virtual meetings. However, associated challenges such as the need to focus harder to process non-verbal cues such as body language and facial expressions, poor internet connections leading to disconnection from the meeting, and multitasking during meetings are causing more stress and exhaustion as compared to in-person meetings.

The offsite segment is projected to witness lucrative growth of 4.48% during the forecast period. Offsite programs include one-to-one interaction to improve employee health at different locations. Health services are constantly upgraded by the adoption of advanced technology. For instance, in January 2020, Virgin Pulse via the acquisition of a digital therapeutics provider Blue Mesa Health, Inc. is planning to leverage its Diabetes Prevention Program to promote diabetes prevention. This is driving the growth of the offsite segment.

Some of the prominent players in the U.S. Corporate Wellness Market include:

• ComPsych
• Wellness Corporate Solutions
• Virgin Pulse
• EXOS
• Marino Wellness
• Privia Health
• Vitality
• Wellsource, Inc.
• Sonic Boom Wellness

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the U.S. Corporate Wellness market.

By Service 

• Health Risk Assessment
• Fitness
• Smoking Cessation
• Health Screening
• Nutrition & Weight Management
• Stress Management
• Others

By End-use 

• Small Scale Organizations
• Medium Scale Organizations
• Large Scale Organizations

By Category 

• Fitness & Nutrition Consultants
• Psychological Therapists
• Organizations/Employers

By Delivery Model 

• Onsite
• Offsite