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NORTH AMERICA WORKPLACE WELLNESS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America 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 North America workplace wellness market is projected to progress with a CAGR of 6.45% in terms of revenue during the forecasted years of 2023 to 2032. Moreover, the market is set to reach a revenue share of $54160.08 million by 2032.

The market growth of the region is fuelled by the increasing emphasis on employer satisfaction coupled with the growing investments in workplace wellness programs as a proactive strategy to minimize healthcare costs. However, the North America workplace wellness market growth will likely be hampered due to the rising difficulties associated with incorporating mental health assistance into wellness initiatives.

North America Workplace Wellness Market

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The North America workplace wellness market growth evaluation constitutes the assessment of the United States and Canada. As per a 2021 poll conducted by the American Psychological Association, a significant 59% of workers revealed experiencing adverse effects due to work-related stress in the preceding month. A substantial 87% of employees believe that interventions from their employers could enhance their mental well-being. Moreover, individuals who frequently encounter tension or stress at their workplaces are over three times more likely to express their intention to seek alternative employment within the upcoming year. This poses challenges for businesses aiming to retain their valuable workforce.

In the United States, the escalating costs of healthcare play a pivotal role in driving the demand for workplace wellness programs. According to the Peter G. Peterson Foundation, healthcare expenditures in the nation soared to $4.3 trillion in 2021, equating to $12,900 per person. These healthcare expenses constitute a significant share of operational costs for numerous businesses. Furthermore, the introduction of workplace wellness initiatives by employers aims to mitigate healthcare consumption and costs linked to preventable illnesses. Such initiatives actively promote healthier lifestyles and the early identification of health conditions, potentially leading to a gradual reduction in long-term medical expenditures. Hence, the aforementioned factors are set to play a pivotal role in promoting the workplace wellness market growth in North America during the forecast period.

The North America workplace wellness market is segmented into service and end-user. The service segment includes health risk assessment, nutrition and weight management, smoking cessation, fitness services, biometric screening, alcohol/substance abuse services, and mental/behavioral health management.

A health risk assessment (HRA), alternatively referred to as a health appraisal or health assessment, is a valuable screening tool designed to aid individuals in recognizing and comprehending their health vulnerabilities, while also monitoring their health status over a period. This assessment encompasses a structured questionnaire, an evaluation of one’s health condition, and personalized guidance on actions that can be taken to mitigate risks, uphold well-being, and prevent illnesses.

Some of the top firms operating in the North America workplace wellness market are Fitbit Inc, LabCorp Employer Services (Formerly Wellness Corporate Solutions), ComPsych Corporation, etc.

Virgin Pulse, headquartered in the United States, is a developer of employee health engagement platforms as well as employee-centric tools aimed at driving well-being, culture, as well as productivity across organizations. In addition to promoting employee engagement and well-being, the company’s tools also help deliver personalized user experience. This is mainly provided via gamification in order to engage members in establishing habits that yield measurable and meaningful change across individuals and the businesses they cater to.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Service and End-User
Countries AnalyzedThe United States and Canada
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 PROGRAMS
      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 CANADA
    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. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA WORKPLACE WELLNESS MARKET DRIVERS
      3. NORTH AMERICA WORKPLACE WELLNESS MARKET CHALLENGES
      4. NORTH AMERICA WORKPLACE WELLNESS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN NORTH AMERICA WORKPLACE WELLNESS MARKET
      6. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES WORKPLACE WELLNESS MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA 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
        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: NORTH AMERICA WORKPLACE WELLNESS MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

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

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

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

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

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

TABLE 8: NORTH AMERICA WORKPLACE WELLNESS MARKET REGULATORY FRAMEWORK

TABLE 9: KEY PLAYERS OPERATING IN NORTH AMERICA 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 CANADA

FIGURE 4: MARKET CONCENTRATION ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: NORTH AMERICA WORKPLACE WELLNESS MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2022

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

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

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

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

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

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

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

FIGURE 14: NORTH AMERICA WORKPLACE WELLNESS MARKET, GROWTH POTENTIAL, BY END-USER, IN 2022

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

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

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

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

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

FIGURE 20: NORTH AMERICA WORKPLACE WELLNESS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

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

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

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