Portland, OR, Aug. 12, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the North America Workplace Wellness Market was pegged at $15.75 billion in 2020 and is estimated to hit $24.29 billion by 2030, registering a CAGR of 5.9% from 2020 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in prevalence of chronic diseases and rise in awareness and implementation of wellness programs by employers drive the growth of the North America workplace wellness market. On the other hand, the huge cost that’s levied to companies impede the growth to some extent. However, significant growth potential in tele-health and telemedicine services is expected to pave the way for multiple opportunities in the industry.
COVID-19 scenario-
- Laying off employees in the form of cost cutting has reduced workplace wellness employee enrollments in North America, which in turn has impacted the workplace wellness market negatively.
- However, factors such as increasing modification in the workplace wellness schemes and surge in work-related stress due to work from home obligations since, employees are finding it difficult to maintain the work-life balance are expected to help the market revive soon.
The North America workplace wellness market is analyzed across type, end user, and country. Based on type, the health screening and assessment segment contributed to more than one-fourth of the total market share in 2020, and is expected to lead the trail by 2030. The stress management services segment, on the other hand, would cite the fastest CAGR of 6.60% from 2020 to 2030.
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Based on end-user, the large size organization segment accounted for more than two-fifths of the total market revenue in share in 2020, and is anticipated to rule the roost by 2030. The same segment would also grow at the fastest CAGR of 6.40% from 2020 to 2030.
Based on country, the U.S held the major share in 2020, generating more than four-fifths of the North America workplace wellness market. At the same time, the market across Canada would cite the fastest CAGR of 6.60% during the forecast period.
The leading market players analyzed in the North America workplace wellness market report include Alphabet Inc., Healthy Contributions LLC., Novant Health, Marino Wellness, LLC., Compsych Corporation, Marlin Equity Partners, LLC (Virgin Pulse, Inc.), Modern Life, Inc. (Modern Health), Wellable Inc., Concierge Health, and Virtual Health Partners Inc. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
