ASIA-PACIFIC WORKPLACE WELLNESS MARKET FORECAST 2023-2032

The Asia-Pacific workplace wellness market growth evaluation entails the study of China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific. Workforces in China are displaying an increasing awareness of their health, leading to a surge in the demand for workplace wellness programs in the country. Moreover, as employees become more proactive in taking charge of their well-being, there is a growing preference for employers who offer such initiatives. Similar to numerous other countries, China is grappling with an aging workforce. The World Health Organization (WHO) projects that by 2040, around 402 million individuals, constituting 28% of the population, will be aged 60 or above. This demographic shift underscores the importance of workplace wellness initiatives in aiding older employees to maintain their health and productivity by addressing age-related health concerns.

Around one in five employees in Japan encounter distress, depressive symptoms, or anxiety. Moreover, as per statistics, burnout rates are higher, standing at 31%. This is mainly accredited to the absence of sustainable work conditions, like manageable tasks, feasible schedules, and a balance between professional and personal life. Japan also boasts one of the world’s most aged populations, resulting in an increasingly elderly workforce. Recognizing the significance of fostering the health and productivity of older employees, workplace wellness initiatives are gaining prominence. The utilization of technology, including mobile apps, wearables, and online platforms, has made it more convenient for Japanese employers to develop and oversee workplace health programs. These factors, in turn, are set to boost the workplace wellness market growth in the Asia-Pacific during the forecast period.

The Asia-Pacific workplace wellness market is segmented into service and end-user. The end-user segment includes large organizations, mid-size organizations, small organizations, NGO, and public sector. Among large enterprises, multinational corporations stand out as the foremost investors in global wellness programs. Focused on achieving lasting enhancements in employee health and productivity, these companies offer a spectrum of wellness initiatives, ranging in complexity.

Health management initiatives are particularly prominent within this landscape. They include Employee Assistance Programs (EAPs), health and wellness websites, stress management programs, wellness coaching, Health Risk Assessments (HRAs), health and fitness challenges, biometric testing, disease management programs, and the provision of on-site fitness facilities. These programs cater to diverse aspects of well-being, aligning with the objective of nurturing employee health and performance over the long term.

Some of the eminent companies operating in the Asia-Pacific workplace wellness market are Virgin Pulse, Vitality Group, etc.

Vitality Group, headquartered in the United States, is a financial services organization providing an incentive-based wellness program to employers as part of their benefits program. With a foundation established on behavioral economic theory as well as actuarial science, the company encourages changes in lifestyles that minimize health care costs, both in the long- and short-term, by rewarding members for addressing their health issues.