Health & Wellness Services Market to Discern Magnified Growth During 2017-2025

Growth Prospects and Emerging Trends

Health & Wellness Services Market to Discern Magnified Growth During 2017-2025

Press Release


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.

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 organization 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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In terms of geography, the global health and wellness services market is segregated into five region: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global health and wellness services market in 2017, owing to increase in adoption of health and wellness services in the U.S. and Canada. This expansion can be attributed to higher awareness about these services, combined with growing efforts of employers to reduce health care costs in the region. Europe accounted for the second largest share of the market in 2017, followed by Asia Pacific. Asia Pacific is anticipated to expand at a high CAGR during the forecast period, owing to increasing healthcare per capita expenditure and rise in awareness in emerging economies such as India and China.

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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis

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The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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