North America Workplace Wellness Market Forecast 2023-2032KEY FINDINGS
The North America workplace wellness market is projected to grow with a CAGR of 6.45% in terms of revenue during the forecasted years of 2023 to 2032. The market growth of the region is credited to the increasing emphasis on employer satisfaction as well as the growing investments in workplace wellness programs to minimize healthcare costsMARKET INSIGHTS
Canada and the United States are evaluated for the North America workplace wellness market growth assessment. In the United States, there is a noticeable surge in the adoption of diverse workplace wellness programs. These encompass smoking cessation programs, fitness classes, initiatives promoting nutritional balance, weight management, and more. Notably, stress management programs have gained prominence due to the potential impact of prolonged work hours on mental well-being. Such programs not only promote cost savings in medical expenses but also prioritize improved well-being, heightened productivity, and the cultivation of healthy behaviors.
In Canada, a survey revealed that 70% of employees perceive their workplace’s psychological health and safety as compromised, with an additional 14% deeming it unsafe. Mental health-related disorders and challenges further contribute to around 30% of all short- and long-term disability claims within the country. Also, these mental health concerns are associated with a significant economic impact of $50 billion on the Canadian economy. The prevalence of chronic health issues, such as obesity, further influences market demands. Collectively, these factors are set to position North America as a thriving market for workplace wellness during the forecast years.COMPETITIVE INSIGHTS
Some of the leading firms in the market are LabCorp Employer Services (Formerly Wellness Corporate Solutions), Fitbit Inc, ComPsych Corporation, etc.
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• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments