Published Date : Jul 24, 2017
ALBANY, New York, July 24, 2017: The growing expenses of healthcare facilities and services is driving the global corporate wellness market, states a new report added by MarketResearchReports.biz. The report is titled “Global Corporate Wellness Market 2017-2021.” As per the report, this market will witness a CAGR of 6% between 2017 and 2021, driven by the growing focus on preventive healthcare measures so as to evade costly treatments due to negligence of health. The use of advanced new technology without being sure of its effectiveness, lacking information and clarity regarding the quality and cost of medicines or treatment, and use of defensive medicines are many of the factors that boosting the global corporate wellness market. On the other hand, revenue volatility can be observed in this market and is a issue.
Organizations are following the practice of adopting disease diagnosis or screening and intervention services with a view to promote healthy lifestyle of employees, which helps reduce health risks. The increasing prevalence of spinal problems and obesity is increasing and thus, there is a need for medical attention at the start, to prevent future medical expenses that are large. Many companies are therefore making use of biometric screening services. The favorable regulatory scenario and reimbursement options available today are also supporting the growth of this market.
Only the larger organizations implemented corporate wellness programs initially, but today, even the smaller organizations are adopting these policies and this is acting as a growth booster for the market worldwide. Increasing awareness about stress and long working hours will also push the demand for corporate wellness. As stress is a major cause of depression and burnout for employees due to work pressure, busy schedules, and unhealthy eating habits, companies are taking initiatives to reduce employee stress.
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The report not only discusses key factors boosting and challenging the growth of the global corporate wellness industry but also ventures into the key segments and sub-segments within the industry. The leading, declining, and most promising segments are pointed out, giving readers a clear indication on which segment to invest on, for maximum profits.
The corporate wellness industry chiefly involves nutrition consultants, fitness consultants, psychological therapists, and companies providing these services under a single roof. Virgin Pulse, Well Nation, Provant Health Solutions, and ComPsych are some of the key companies operating within the global corporate wellness market and have been profiled in this report. The strategies employed by these companies, services offered, and latest developments have been given in the report. The business and financial overview of each of the companies and the challenges faced by them while trying to gain market shares have also been included. Thus, the report helps investors and new entrants in formulating a winning strategy to enter and succeed in the competitive market of corporate wellness.
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