Global Health & Wellness Services Market: Emerging Trends, Business Growth Opportunities, Major Driving Factors

Health & wellness is a broad terminology which covers various techniques, services, and product offerings provided for maintaining fitness, health, and wellbeing of individuals around the world. Health includes various parameters such as mental, social, emotional, and others. Wellness is a form of quality of life, which includes mental and physical wellness, emotional, and socio-economic wellness, along with fitness, nutritional, and other important forms of wellness. Health & wellness service providers offer different types of wellness and fitness services to improve efficiency of employees, and reduce overall health care costs. Health & wellness service providers offer customized solutions and service offerings, tailor-made to suit individual needs to promote workplace and individual health & wellness.

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Global Health & Wellness Services Market Witness Most Promising Rise in Demand:

Increase in indirect health care costs associated with lack of productivity of employees, absenteeism, loss of work days, and other factors have led employers in various organizations across the world to indulge in health & wellness service offerings at their workplace. This helps them reduce healthcare costs and increase productivity and efficiency of employees. This is projected to drive the global health & wellness services market. Rise in awareness about health and wellness services among employers, increase in health care costs, and surge in incidence of chronic diseases are driving demand for health and wellness services in the corporate segment and increasing investments in corporate wellness programs. These factors are expected to drive the global health & wellness services market during the forecast period. Various clinical studies conducted to monitor efficiency of health and wellness services suggest that participation of employees in health and wellness programs over a five-year period reduces health care costs and reduces absenteeism. However, reluctance of employers and employees to implement and engage in health and wellness services are some major restrains of the global health & wellness services market.

The global health & wellness services market is segmented based on service type, end-user, and region. Based on service type, the global health & wellness services market is segmented into health risk assessment, weight management services, nutrition services, health screenings, fitness services, smoking cessation, stress management services, and others such as disease and conditions management and employee engagement. The health risk assessment segment dominated the global market in 2017, owing to increase in awareness regarding health and wellness and rise in participation by employers and employees in this service offering. Increase in percentage of people indulging in smoking, especially in emerging countries, is expected to drive the demand for smoking cessation services and drive the segment at a comparatively higher CAGR from 2018 to 2026. Based on end-user, the global health & wellness services market is divided into consumers/employees, employers, and others.

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The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global Health & Wellness Services market.

Key Players of Health & Wellness Services Market Report:

Key players operating in the health & wellness services market include Kinema Fitness, Premise Health Inc., TotalWellness, Provant Health, Marino Wellness, Wellness Corporate Solutions, LLC, Vitality, Virgin Pulse, and Corporate Fitness Works.

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