NORTH AMERICA WORKPLACE WELLNESS MARKET FORECAST 2023-2032

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.