Corporate Wellness Market — Rise in Employer Healthcare Spending on Wellness to fuel Market

The global corporate wellness market was valued at US$ 29,266.9 Mn in 2017 and is expected to expand at a high CAGR of 9% from 2018 to 2026, to reach an estimated value of US$ 61,690.9 Mn by 2026, according to a new report published by Transparency Market Research (TMR) titled “Corporate Wellness Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that the rise in awareness about health and wellness among employers and employees across the globe is likely to drive the global corporate wellness market from 2018 to 2026.
North America and Europe are expected to dominate the global corporate wellness market, in terms of revenue, during the forecast period. Factors such as high health care expenditure and availability of a wide range of providers of corporate wellness services boost the corporate wellness market in these regions. 
The market in North America is expected to register the highest growth rate of more than 11% during the forecast period. The corporate wellness market in Asia Pacific is expected to register the second-highest growth rate of more than 9% during the forecast period. The corporate wellness markets in Latin America and Middle East & Africa are likely to expand at a sluggish growth rate during the forecast period.
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Government support for corporate wellness programs has increased along with rise in health concerns among people with chronic conditions such as obesity and diabetes. A federal legislation has also sought to cut escalating health care costs. A provision in the 1996 HIPAA (Health Insurance Portability & Accountability Act) offers employers to reduce the cost of health insurance premiums for employees practicing health-promoting activities. 
The provision has provided up to 20.0% of reduction in the employees’ regular premium cost. White-collar employees include managers, government employees, professionals, and salespersons. The number of service sector employees is expected to increase in the next few years. This is likely to drive the global corporate wellness market during the forecast period. 

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