Global Corporate Wellness Software Market:
The global corporate wellness software market is expected to be valued at US$ 714.3 Mn in 2019 and expected to grow at a CAGR of 7.3% over the forecast period by 2026. There are few drivers which help in the significant growth, corporate wellness initiatives to target specific health risk factors and reducing employee healthcare-related costs. Lack of faith in the ability of the employer to operate an efficient program, doubt that the programs are beneficial, and privacy concerns are the restrains which hamper the growth of global corporate wellness software market. Organizations include wearable devices that help keep track of metrics provide multiple opportunities.
Prevalence of Chronic Diseases
It is noticed that the global corporate wellness software market has a significant market growth rate on the perspective of prevalence of chronic diseases. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% by the year 2020. Emerging markets will be hardest hit, as population growth is anticipated be most significant in developing nations. Increased demand on healthcare systems due to chronic disease has become a major concern. For example, a tailored health programme may dramatically reduce risk factors such as inadequate diet, physical inactivity and, in turn, much of the chronic disease-related illness, pain and early death.
North America Dominates the Market Share in the Global Corporate Wellness Software Market
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year by providing different incentives for financial needs, such as job satisfaction, health benefits and voluntary benefits. Europe led on the perspective of increase in the obese and overweight population contributes to higher insurance costs. The need for corporate wellness services is responsible for raising understanding of employee health management which boost the market in Asia Pacific.
Key player’s profiles in the global corporate wellness software market include:
- CoreHealth Technologies
- Wellness Layers
- Alyfe Wellbeing Strategies
- BSDI, Ceridian Lifeworks
- Corporate Health Partners
- Infinite Wellness Solutions
- Burner Fitness
- Virgin Pulse
- Rival Health
- Protocol Driven Healthcare, Inc
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In June 2016, Wellness Corporate Solutions launched the WCS Analytics + platform, which consists of an interactive data dashboard that enables the clients to plan and implement healthy activities leading to productive workplaces.
Global Corporate Wellness Software Market Report Description:
Global corporate wellness software market report gives comprehensive outlook on corporate wellness software market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report corporate wellness software market gives historical, current, and future market sizes on the basis product type, service, delivery model, end user and region. This report studies global corporate wellness software dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global corporate wellness software market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global corporate wellness software market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global corporate wellness software market
Key Findings of the Report:
- Global corporate wellness software market expanding at significant CAGR over 2020 to 2026 owing due to prevalence of chronic diseases
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Health Risk Assessment
- Smoking Cessation
- Health Screening
- Nutrition & Weight Management
- Stress Management
- Small Medium Enterprises
- Large Enterprises
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA