Corporate Wellness Market

Market Definition

The corporate wellness market encompasses services and programs designed to improve employee health and well-being within organizations. These initiatives typically focus on physical fitness, mental health, stress management, and overall wellness. The goal is to enhance employee productivity, reduce absenteeism, and foster a healthier, more engaged workforce, thereby enhancing business performance.

Corporate Wellness Market Overview

Global corporate wellness market size was valued at USD 63.35 billion in 2023, which is estimated to be valued at USD 67.13 billion in 2024 and reach USD 104.13 billion by 2031, growing at a CAGR of 6.47% from 2024 to 2031.

The growing recognition of the link between employee health and productivity is a key factor fueling the expansion of the market. Companies increasingly understand that promoting employee well-being leads to improved engagement, higher performance, reduced absenteeism, and overall business success.

Major companies operating in the market are ComPsych Corporation, Wellness Corporate Solutions, Personify Health, Exos, Marino Wellness, Privia Health, Vitality Group International, Inc., Central Corporate Wellness., Truworth Wellness, Spectrum of Life Sdn Bhd (SOL Integrative Wellness Centre), Infinite Dimensions Corporate Wellness, MediKeeper, CoreHealth Technologies Inc, TELUS Health (Canada) Ltd (Sprout), Burnalong, Inc, and others.

The corporate wellness market focuses on creating healthier, more productive work environments by promoting the physical and mental well-being of employees. Companies are increasingly investing in wellness initiatives to enhance employee engagement, satisfaction, and overall performance.

These programs aim to foster a positive workplace culture by prioritizing health, contributing to better organizational outcomes. As businesses recognize the importance of employee wellness, this market has evolved to offer a wide range of tailored solutions that cater to diverse workforce needs.

• In January 2025, Bank of Baroda launched a holistic wellness initiative for its 75,000+ employees and their families. Partnering with Truworth Wellness, the bank enhanced its Employee Assistance Program (EAP), offering confidential counseling, 24/7 support, digital wellness tools, and personalized resources to foster emotional, mental, and psychological well-being.

Key Highlights:

1. The global corporate wellness market size was recorded at USD 63.35 billion in 2023.
2. The market is projected to grow at a CAGR of 6.47% from 2024 to 2031.
3. North America held a notable share of 39.25% in 2023, valued at USD 24.87 billion.
4. The health risk assessment segment garnered USD 15.97 billion in revenue in 2023.
5. The large organizations segment is expected to reach USD 51.94 billion by 2031.
6. Asia Pacific is anticipated to grow at a CAGR of 6.80% through the forecast period.

Market Driver

"Rising Awareness of Mental Health"

Rising awareness of mental health is boosting the expansion of the corporate wellness market, as businesses increasingly prioritize mental well-being and stress management in the workplace.

• According to data from the World Health Organization (WHO) released in September 2024, nearly 60% of the global population is employed. Depression and anxiety are estimated to cause a loss of approximately 12 billion working days annually, resulting in a productivity loss of around USD 1 trillion each year.

With growing recognition of the impact mental health has on employee performance, productivity, and overall job satisfaction, organizations are adopting wellness programs that focus on emotional support, stress reduction, and resilience-building. This shift is prompting companies to invest in resources such as counseling, workshops, and digital tools to support their employees' mental health.

• In November 2024, SBC Medical launched SBC Wellness, a solution designed to enhance corporate employee benefits. Targeting HR managers, it aims to boost employee recruitment, retention, and engagement by integrating wellness programs that support self-care, confidence, and overall well-being, thereby improving company culture and performance.

Market Challenge

"Concerns Pertaining to Privacy"

Privacy concerns present a significant challenge to the expansion of the corporate wellness market, as employees may be hesitant to share personal health data due to security and confidentiality fears. 

To address this challenge, companies should implement strong data protection measures, such as encryption and secure storage, ensure transparency on data usage, leverage AI, and offer anonymous or voluntary participation. 

Additionally, partnering with reputable wellness providers who prioritize privacy and comply with relevant regulations can help build trust and promote employee engagement in wellness programs.

• In November 2024, Kyan Health raised USD 16.7 million to transform workplace wellness with its AI-powered solution. By combining preventive care and organizational insights, Kyan helps companies reduce absenteeism, turnover, and presentisms, offering measurable ROI while prioritizing employee mental health.

Market Trend

"Holistic Wellness Programs"

A key trend in the corporate wellness market is the rise of holistic wellness programs. Employers are increasingly implementing comprehensive initiatives that support physical, mental, emotional, and financial well-being. 

These programs aim to foster a more balanced and engaged workforce, enhancing employee satisfaction, reducing burnout, and boosting productivity. Recognizing the importance of employee well-being, companies are aligning wellnes initiatives withorganizational success.

• In November 2024, Samsung India reaffirmed its commitment to employee well-being by implemeting a holistic wellness approach. The comprehensive programs, inclusing yoga, mental health counseling, and health consultations, aim to support employees' physical, mental, and emotional health, thereby promoting a productive work environment.

Corporate Wellness Market Report Snapshot

Market Segmentation:

• By Services (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Others): The health risk assessment segment earned USD 15.97 billion in 2023 due to increasing demand for preventive healthcare, growing awareness of chronic diseases, and companies prioritizing employee well-being through personalized health assessments and early interventions.
• By End User (Large Organizations, Medium-Sized Organizations, Small Organizations): The large organizations segment held a share of 49.27% in 2023, attributed to their ability to invest in comprehensive wellness programs, extensive employee bases, and a strong focus on improving productivity and reducing healthcare costs.

Corporate Wellness Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

North America corporate wellness market accounted for a share of around 39.25% in 2023, valued at USD 24.87 billion. This dominance is fueled by increasing awareness of employee well-being and significant investments in health initiatives by companies as well as private equity firms.

• In March 2024, Trive Capital a U.S.-based private equity firm announced its investment in Formula Wellness, a leader in health, medical-based wellness, and aesthetics. The partnership aims to accelerate expansion through de novo locations and acquisitions, enhancing the company’s holistic approach to longevity and well-being.

With a large number of corporations recognizing the impact of wellness on productivity, job satisfaction, and healthcare costs, North America has emerged as a leading region in implementing comprehensive wellness programs. 

Additionally, the region’s advanced healthcare infrastructure, widespread technology adoption, and increased focus on mental health support have further solidified its position as the largest market.

Asia-Pacific corporate wellness market is poised to witness significant growth, registering a robust CAGR of 6.80% over the forecast period. This growth is bolstered by increasing awareness of employee health and well-being. 

With rapidly expanding economies in countries such as China, India, and Japan, companies are investing in wellness programs to improve productivity, reduce healthcare costs, and attract talent. 

Rising stress levels, long working hours, and a growing focus on mental health are further propelling the demand for corporate wellness initiatives, making Asia Pacific a key market for growth and innovation.

Region’s Regulatory Framework Also Plays a Significant Role in Shaping the Market

• The U.S. Health Insurance Portability and Accountability Act (HIPAA) of 1996 establishes federal standards to protect sensitive health information from disclosure without patient consent.
• The “Affordable Care Act” (ACA), in the U.S. is a comprehensive health care reform law (passed in 2010)addressing health insurance coverage, health care costs, and preventive care.
• In the EU, the General Data Protection Regulation (GDPR) lists the rights of individuals whose personal data is processed, enhancing control over their data.
• In India, the Mental Healthcare Act 2017 defines the rights, procedures and responsibilities for mental healthcare and treatment of individuals with mental illness.

Competitive Landscape:

The global corporate wellness market is characterized by a number of participants, including both established corporations and rising organizations. Companies in the market are increasingly launching innovative wellness plans, offering comprehensive programs that include mental health support, fitness initiatives, and personalized care. 

These plans aim to enhance employee well-being, reduce absenteeism, improve productivity, and attract top talent, reflecting the growing emphasis on holistic workplace wellness.

• In January 2025, Hotpod Yoga launched its Corporate Wellness Packages in Colmore Business District, designed to boost employee well-being. These tailored packages address stress, exhaustion, and sedentary lifestyles, offering benefits such as improved productivity, reduced stress, better sleep, and increased energy levels.

 List of Key Companies in Corporate Wellness Market:

• ComPsych Corporation
• Wellness Corporate Solutions
• Personify Health
• Exos
• Marino Wellness
• Privia Health
• Vitality Group International, Inc.
• Central Corporate Wellness.
• Truworth Wellness
• Spectrum of Life Sdn Bhd (SOL Integrative Wellness Centre)
• Infinite Dimensions Corporate Wellness
• MediKeeper
• CoreHealth Technologies Inc
• TELUS Health (Canada) Ltd (Sprout)
• Burnalong, Inc

Recent Developments:

• In November 2023, Virgin Pulse and HealthComp merged to develop a unified health platform, aimed at reducing healthcare costs, improving outcomes, and enhancing member engagement through AI-driven data models and personalized health plan designs.
• In February 2024, Virgin Pulse and HealthComp unveiled their new brand, Personify Health. The company combines health plan administration, wellbeing solutions, and health navigation into a personalized platform. Personify Health empowers businesses and individuals to optimize health outcomes while reducing healthcare complexities.
• In April 2023, Sodexo launched its global wellbeing program, Vita by Sodexo, offering a minimum of 14 weeks of parental leave for employees in the Middle East and Africa. This initiative aligns with the company’s commitment to enhancing employee wellbeing and attracting top talent, benefiting 10,000 employees across the region.
• In February 2023, Seva At Home expanded its Seva PRO occupational health services to include on-site medical rooms, health check-ups, and a cardiac preventive care program. This initiative aims to promote workplace wellness by offering comprehensive health solutions to prevent diseases and support employee well-being.
• In March 2024, Vitality launched a new online hub within its Vitality Champions Programme, providing corporate clients with tools, workshops, expert advice, and health tips to foster a healthier, more engaged workforce. This initiative enhances employee well-being, boosting productivity and reducing health costs.
• In June 2023, AFC Bournemouth extended its partnership with Vitality, naming the stadium Vitality Stadium through 2026. The agreement also includes sponsorship of both men's and women's teams, as well as continued support for the club's community health initiatives.