Published on : May 18, 2020
The global corporate wellness software market promises new opportunities for robust growth as health concerns around the globe continue to rise, and make way for increased room for initiatives for corporate stakeholders. Diseases like diabetes affect millions in the United States. Moreover, the disease is on the rise globally, with obesity skyrocketing across developing urban areas in emerging countries as well. The disease, growing sedentary lifestyle, and increased awareness about diseases like cardiovascular diseases, the global corporate wellness software market will drive growth for the new players in near future.
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The Global corporate wellness software market report thoroughly discusses robust growth prospects and prominent strategies implicated by several key players operating in the global market, which are likely to benefit the market growth and grab leading position in terms of revenue in the market. The report is available on the website ResearchMoz.us as well.
Increased Rates of Absenteeism and Associated Health Costs to Drive Growth
Corporate wellness software market is expected to witness major growth as increasing influx of CSR activities are expected to make way for employee welfare due to concerns like increased absenteeism, and associated health costs. health sickness results in over £29bn losses in UK each year. Moreover, nearly 140 days are missed each year due to sickness or injury. Furthermore, the diseases for most of these can be prevented with additional health workouts, and increased positive atmosphere in the workplace.
The most common causes of absenteeism in the UK was stress, and musculoskeletal injuries. While musculoskeletal injuries may become worse due to additional training and fitness at later stages, sedentary lifestyle largely adopted in offices has mainly contributed to growth of the disease. Moreover, the sedentary, and unfulfilling life in corporate culture can also make way for mental stress, and illnesses, which are another reason for increased absenteeism in the UK.
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Weight Management and Smoking Cessation Programs Rise in Demand
According to recent findings from the Kaiser Foundation in United States, small and large enterprises alike are adopting wellness management programs in order to promote healthy behavioural practices in their organizations. The main areas targeted in these practices include behaviors like smoking, weight management, and lifestyle coaching among others. the findings estimate that nearly 46% of small organizations, and 83% of large firms are adopting some major of wellness initiatives to boost healthy behaviours at work.
Moreover, most firms also reporting availing smart wearable devices to monitor employee health, and also provide financial incentives in order to boost corporate wellness programs. The rising adoption of wellness management in enterprises, growing need for healthy lifestyle, and aid of programs like CSR will drive growth of the corporate wellness software market.
Key players in the global corporate wellness software market include ComPsych; Wellness Corporate Solutions; Virgin Pulse; Provant Health Solutions; EXOS; Marino Wellness; Privia Health; Vitality Group; Wellsource, Inc.; Central Corporate Wellness; Truworth Wellness; and SOL Wellness.