May 10th, 2022 
Market Data Forecast Releases 
As per the research report, the corporate wellness market size is predicted to reach USD 76.86 billion by 2027, growing at a CAGR of 6.9% during the forecast period 2022 to 2027.
Browse details of the report @ https://www.marketdataforecast.com/market-reports/corporate-wellness-market
A corporate wellness programme is essentially a programme for the employees of a company or organisation. It is important because the majority of employees in a company may suffer from various diseases such as hypertension, depression, and so on, and with the help of these programmes, these diseases can be prevented or reduced to a minimum, allowing employees to spend less money on health care and take fewer sick days, resulting in maximum productivity. Stress management, health screening, weight control, food and nutrition, and other services are available through corporate wellness programmes.
Many businesses and enterprises across a variety of industry verticals have begun to implement health-related programmes for their employees, and well-being boosting market demand. Chronic diseases such as lung diseases, cancer, and diabetes, among others, are predicted to become more prevalent in younger age groups, as well as poor eating habits, increasing the expansion of the corporate wellness market. To keep track of their health and fitness, many people have begun to invest in workplace wellness programmes.
Several countries’ regulatory agencies have created rigorous regulations for the commercialization of services. Different regulations by the government and organisations may apply to employees who work in several places. This will have an impact on service standards. The service market’s operational challenges, as well as the vast number of personnel, slow the market’s expansion. However, the high cost of outsourcing a corporate wellness programme and its low uptake in small businesses act as a market growth restraint.
Market growth is responsible for the growing number of market players selling corporate wellness programmes to various companies. Furthermore, factors such as increasing corporate investment in employee productivity, the majority of the population adopting a sedentary lifestyle, and rising investment would exacerbate the growth of the corporate wellness market throughout the forecast period. Following the coronavirus pandemic, service players in the worldwide corporate wellness market are enjoying value-grab opportunities. Organizations all over the country are using artificial intelligence (AI) and data analytics to improve their employee health programmes. The corporate wellness market is heading toward digitization, with programmes including technological components like a wearable device or a smartphone app to boost employee participation.
The shortage of mental health experts and other professionals suitable for corporate wellness programmes is considerably more apparent in emerging countries. On the other hand, the lack of awareness of corporate wellness in small businesses would be a hurdle for the corporate wellness market.
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COVID-19 Analysis of Corporate wellness market
The COVID-19 pandemic has had a favourable impact on the market for corporate wellness. Between January and April 2020, the majority of the global formal workforce switched to working from home, and corporate wellness solutions market participants differentiated and expanded their services to satisfy shifting end-user expectations. However, during the early stages of the epidemic, businesses faced numerous obstacles and needed time to adapt to the changing environment.
Additionally, the work-from-home model necessitated various wellness schemes and programmes, which added to the expense. COVID-19 has dominated the corporate wellness market not only for the time period specified, but also for years to come, and firms have benefited from it.
Corporate wellness solution providers have made virtual care and consultations available via text, audio, and video mode, particularly for chronic disease management, on-demand online fitness programmes, nutrition and weight management programmes, mental/behavioural health programmes, and substance abuse counselling services. To combat the problem, wellness service providers are employing virtual methods to provide services such as consultations with psychologists and health coaches.
KEY MARKET INSIGHTS:
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