Health and Wellness Management Global Industry Outlook

The global workplace wellness market was valued at $ 16 billion in 2016

  • The market is forecasted to grow annually, at the rate of 4–6 percent, to approximately $ 18 billion by 2018
  • The US has the highest market maturity, followed by Europe
  • APAC and parts of Western Europe are expected to be the future growth-driving markets for corporate wellness services

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Health and Wellness Management Global Market Maturity  

Corporate wellness penetration is still very low outside North America and Europe

  • 53 percent of the employees in North America and 24 percent in Europe have access to workplace wellness programs
  • APAC and Latin America are witnessing an increase in adoption due to efforts by large global buyers to consolidate supply base
     

Health and Wellness Management Global Industry Trends 

Increasing levels of employee wellness across the globe signal the increasing buyer maturity and willingness to partner with suppliers

  • Suppliers are also improving their supply capability by providing health screenings, lifestyle management and disease management programs
  • Fortune 500 companies are also focusing on employee assistance programs to increase the employee productivity and reduce absenteeism
  • Multinational firms in the Middle East, Africa and APAC are now focusing on improving working conditions and offering annual health, eye and dental checks

Health and Wellness Management Technology Trends

Buyers spend about 5–10 percent of their total benefits expenditure on technology to yield higher employee engagement and higher enrolment, thus leading to increased cost savings