Transparency Market Research in its new report titled, “Health & Wellness Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the health & wellness services market. The TMR report anticipates that the rise in awareness about health services, increase in health care costs and surge in incidence of chronic diseases will drive the health & wellness services market during the forecast period i.e, 2018-2026. 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, says the report.
The TMR report has segregated the global health & wellness services market based on service type, end-user, and region. In terms of 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.
On a geographical stand, the global health and wellness services market is split 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. Some of the major 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.
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