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ASIA-PACIFIC WORKPLACE WELLNESS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific Workplace Wellness Market by Service (Health Risk Assessment, Nutrition and Weight Management, Smoking Cessation, Fitness Services, Biometric Screening, Alcohol/substance Abuse Services, Mental/Behavioral Health Management) Market by End-user Large Organizations, Mid-size Organizations, Small Organizations, NGO, Public Sector) by Geography


MARKET OVERVIEW

The Asia-Pacific workplace wellness market is evaluated to register a CAGR of 7.05% in terms of revenue during the forecasting period of 2023 to 2032. Moreover, the market is set to reach a revenue share of $32638.00 million by 2032.

The market growth of the region is reinforced by the increasing attention on health issues associated with chronic diseases as well as age-related ailments, the introduction of governmental programs and regulations to encourage workplace wellness, and the widespread usage of technology, such as wearables, online platforms, and mobile apps. However, the Asia-Pacific workplace wellness market growth may be hindered due to lower access to high-quality healthcare services and wellness resources.

Asia-Pacific Workplace Wellness Market

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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.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Service and End-User
Countries AnalyzedChina, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
Companies AnalyzedComPsych Corporation, Exos, Fitbit Inc, LabCorp Employer Services (Formerly Wellness Corporate Solutions), Limeade, Marino Wellness LLC, Novant Health, Optum Inc, Privia Health LLC, Quest Diagnostics, Virgin Pulse Inc, Vitality Group

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON WORKPLACE WELLNESS MARKET
    5. MAJOR MARKET FINDINGS
      1. HOLISTIC APPROACH OF WORKPLACE WELLNESS PROGRAM
      2. HEALTH RISK ASSESSMENTS OFFER A PROACTIVE APPROACH TO EMPLOYEE HEALTH
      3. DIGITAL AND SOCIAL PLATFORMS’ INCREASING DEMAND FOR WORKPLACE WELLNESS PROGRAMS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. SHIFT TOWARDS REMOTE WORK AND FLEXIBLE WORK ARRANGEMENTS
      2. INCREASING INVESTMENTS IN PREVENTIVE CARE LEADING TO REDUCED HEALTHCARE COSTS
      3. LOWER EMPLOYEE PRODUCTIVITY DUE TO PREVALENCE OF CHRONIC DISEASES
    2. KEY RESTRAINTS
      1. HIGH IMPLEMENTATION COSTS
      2. LACK OF CLEAR KNOWLEDGE AMONG EMPLOYEES
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR INDIA
    4. MARKET CONCENTRATION ANALYSIS
    5. KEY BUYING CRITERIA
  5. MARKET BY SERVICE
    1. HEALTH RISK ASSESSMENT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. NUTRITION AND WEIGHT MANAGEMENT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. SMOKING CESSATION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. FITNESS SERVICES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. BIOMETRIC SCREENING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. ALCOHOL/SUBSTANCE ABUSE SERVICES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    7. MENTAL/BEHAVIORAL HEALTH MANAGEMENT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY END-USER
    1. LARGE ORGANIZATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. MID-SIZE ORGANIZATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. SMALL ORGANIZATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. NGO
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. PUBLIC SECTOR
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC WORKPLACE WELLNESS MARKET DRIVERS
      3. ASIA-PACIFIC WORKPLACE WELLNESS MARKET CHALLENGES
      4. ASIA-PACIFIC WORKPLACE WELLNESS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN ASIA-PACIFIC WORKPLACE WELLNESS MARKET
      6. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. COMPSYCH CORPORATION
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      2. EXOS
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      3. FITBIT INC
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      4. LABCORP EMPLOYER SERVICES 
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      5. LIMEADE
        1. COMPANY OVERVIEW
        2. SERVICE LIST
      6. MARINO WELLNESS LLC
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      7. NOVANT HEALTH
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      8. OPTUM INC
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      9. PRIVIA HEALTH LLC
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      10. QUEST DIAGNOSTICS
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      11. VIRGIN PULSE INC
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
      12. VITALITY GROUP
        1. COMPANY OVERVIEW
        2. SERVICE LIST
        3. STRENGTHS & CHALLENGES
 

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – WORKPLACE WELLNESS

TABLE 2: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY SERVICE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY END-USER, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC WORKPLACE WELLNESS MARKET REGULATORY FRAMEWORK

TABLE 9: KEY PLAYERS OPERATING IN ASIA-PACIFIC WORKPLACE WELLNESS MARKET

TABLE 10: LIST OF MERGERS & ACQUISITIONS

TABLE 11: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 12: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 13: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR INDIA

FIGURE 4: MARKET CONCENTRATION ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2022

FIGURE 7: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY HEALTH RISK ASSESSMENT, 2023-2032 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY NUTRITION AND WEIGHT MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY SMOKING CESSATION, 2023-2032 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY FITNESS SERVICES, 2023-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY BIOMETRIC SCREENING, 2023-2032 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY ALCOHOL/SUBSTANCE ABUSE SERVICES, 2023-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY MENTAL/BEHAVIORAL HEALTH MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, GROWTH POTENTIAL, BY END-USER, IN 2022

FIGURE 15: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY LARGE ORGANIZATIONS, 2023-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY MID-SIZE ORGANIZATIONS, 2023-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY SMALL ORGANIZATIONS, 2023-2032 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY NGO, 2023-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, BY PUBLIC SECTOR, 2023-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC WORKPLACE WELLNESS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 21: CHINA WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 22: JAPAN WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 23: INDIA WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24: SOUTH KOREA WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25: INDONESIA WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 26: THAILAND WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 27: VIETNAM WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28: AUSTRALIA & NEW ZEALAND WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 29: REST OF ASIA-PACIFIC WORKPLACE WELLNESS MARKET, 2023-2032 (IN $ MILLION)

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