Europe Workplace Wellness Market Forecast 2023-2032KEY FINDINGS
The Europe workplace wellness market is estimated to rise with a CAGR of 6.50% in terms of revenue during the forecast period of 2023 to 2032. The top factors ascribed to the regional market’s growth are businesses’ increasing expenditures on employee health programs and toward enhancing the healthcare infrastructure, significant investments made by employers in wellness programs, and the rise in stress levels among employees.MARKET INSIGHTS
In Germany, statistics reveal a threefold increase in the number of individuals taking leaves due to mental health issues over the past two decades, with depression cited as the primary cause. Additionally, according to the OECD, one in four adults in Germany is classified as obese, with overweight conditions contributing to 10.7% of the overall health expenditure. In Italy, a survey indicates that nearly 40% of workers express a desire to change jobs due to work-related concerns, while 16% believe their employers demonstrate a lack of concern for their physical and psychological well-being.
Stress and mental health challenges significantly impact factors like staff turnover reduction and employee absenteeism. Likewise, in Spain, approximately 42% of the population experiences regular work-related stress, as per a survey. The same survey reports that 48.7% of women and 31.5% of men are affected, with a higher prevalence among individuals under 45 years old. The underlying causes encompass factors ranging from sleep deprivation to work-related issues and family member illnesses. Thus, the aforementioned factors are expected to drive the workplace wellness market growth in Europe during the forecast period.COMPETITIVE INSIGHTS
Some of the key companies operating in the market include Privia Health, Optum Inc, etc.
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• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
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