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Corporate Wellness Services in the US - Industry Market Research Report

Publisher IBISWorld
Published Nov 10, 2024
Length 77 Pages
SKU # IBSS19493678

Description

Corporate Wellness Services in the US - Industry Market Research Report


Corporate Wellness Services in the US

Corporate wellness services sell products such as Health Risk Assessments (HRAs), weight management, health education, stress management and other services. The industry is characterized by a small number of similarly sized large operators and large research spending, though market share concentration is low. In recent years, COVID-19 caused governments to shut down businesses, resulting in a major decline in corporate profit, causing discretionary income for companies and revenue for the industry to plunge. As the economy opened up, employment surged, increasing demand for the industry's services. Amid high inflation since 2022, corporations' budgets have been constrained by elevated input costs, hampering investment in corporate wellness services. Alternatively, rising inflation has caused households to take on more debt, worsening the mental health of the population and boosting demand for the industry's services. Overall, revenue for corporate wellness service companies is expected to creep downward at a CAGR of 0.8% during the current period, reaching $19.8 billion in 2023. Revenue is forecast to rise 3.4% in that year alone.

This industry includes companies that primarily provide workplace programs that offer a combination of educational, organizational and environmental activities designed to support behavior that is conducive to the health of employees and their families. This doesn't include programs designed internally by existing human resources personnel.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

77 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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