A corporate wellness program is an employer’s approach towards achieving a healthy workplace by incorporating various health activities within the daily work schedule to promote their employees' wellbeing. This basically is a holistic approach towards the health of employees by creating a supervisory health culture. Creating the wellness programs help in solving various workplace health risks arising from the consumption of unhealthy food and drinks, stress, lack of physical activity and more. So these measures of wellness programs in particular, helps in cultivating a sense of being healthy. With corporations extending working hours and dealing with never ending stress, it only makes sense for an organization to offer wellness strategies for retaining staff and motivating them to keep performing their best.

MARKET OUTLOOK: ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET 

The corporate wellness solution market in Asia Pacific has changed dramatically in recent years. There is a lot more recognition that corporate wellness goes beyond the physical. There is a big shift to a holistic approach looking at things like sleep and stress, and use of technology. Also, the market is anticipated to grow significantly during the forecast period, owing to the key factors such as growing awareness for healthy eating habits and exercise, the high prevalence of obesity, and the reduction of insurance and healthcare costs. Moreover, the rising number of working people and growing knowledge about employee health management is driving the market. Several companies based in the US and Europe have entered Indian and Chinese markets over the past decade which brought the steady improvement in the Asia Pacific Region.

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ASIA PACIFIC CORPORATE WELLNESS SOLUTION SEGMENTAL OVERVIEW

In Asia Pacific, the market for corporate wellness solution is segmented based upon the service offering; category, delivery mode, and end users.

ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET BASED UPON SERVICE OFFERINGS

On the basis of service offering, the corporate wellness solutions market is segmented into health risk assessment, nutrition and weight management, smoking cessation, fitness services, biometric screening, alcohol/substance abuse services, mental/behavioral health management, virtual consultation/virtual care, employee assistance programs, and health benefits programs. Among these, the health risk assessment segment holds the highest market share. The holistic approach towards health management under the aforementioned applications has aided market growth. Also, the economic viability of conducting regular health screenings plays a vital role in market growth

ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET BASED UPON CATEGORY

On the basis of different categories, the market is segmented into fitness and nutrition consultant, organizations/employers, and psychological therapies. Among these, the organizations dominate the market and owing to rising awareness of employee’s health and adoption of wellness programs and solution to maintain a healthy lifestyle and encourage the employee’s.

ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET BASED UPON DELIVERY MODE

On the basis of different delivery mode, the market is segmented into offsite and onsite mode. The onsite delivery mode witnessed the highest revenue share and is anticipated to grow faster over the forecast period owing to a personal touch offered to the employee’s wellbeing along with the facility to exercise under the guidance of trained coaches and fitness consultants to meet their personal health requirement. 

ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET BASED UPON END USER

On the basis of different end-users, the large scale organizations dominated the market and accounts the largest market share. However, the small organizations segment is anticipated to grow at the highest CAGR during the forecast period owing to the growing use of corporate wellness programs by these organizations due to the rising affordability and favorable payment models for small businesses.

ASIA PACIFIC CORPORATE WELLNESS SOLUTION MARKET BASED ON DIFFERENT COUNTRIES

The different countries studied in Asia Pacific Region are China, India, Japan, Australia and Rest of the Asia Pacific Region. The China and Japan are driving the market for corporate wellness in the region. The increased wellness programs and investment in China is driving the market. Also, the rapid urbanization and increasing prevalence of the chronic disease is fueling the market growth. In Japan, the mandatory health checkup for employee’s is increasing the spending in wellness sector. In India, the rising cardiovascular disease, diabetes and sedentary lifestyle is boosting the market growth.

ASIA PACIFIC WELLNESS SOLUTION MARKET KEY PLAYERS

Some of the leading players operational in the global corporate wellness market are ComPsych Corporation, Central Corporate Wellness, Optum, Inc., Truworth Wellness, SOL Wellness, JLT Australia (Recovre Group), Sodexo, and ConneXions Asia, Centene Corporation, CVS Health, LifeWorks Inc., ADURO Inc., Anthem Inc., Cerner Corporation, Fitbit Inc., etc

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