ComPsych Corporation (US) and UnitedHealth Group (Optum) (US) are leading players in Corporate Wellness Solutions Market
The global corporate wellness solutions market is projected to reach USD 94.6 billion by 2026 from USD 61.2 billion in 2021, at a CAGR of 9.1% during the forecast period. Growth in the market is driven by rising adoption of corporate wellness programs by employers, increased uptake of technology-powered corporate wellness solutions and substantial burden of chronic lifestyle diseases and mental health in organizations. However, dearth of qualified and skilled professionals needed to support corporate wellness programs would restrain the growth of this market to some extent.
The global corporate wellness solutions market is fragmented with the presence many players in the market. ComPsych Corporation (US), UnitedHealth Group (Optum)(US), Anthem, Inc. (US), Workplace Options (US), and CVS Health Corporation (Aetna) (US) are the major players in this market. These companies adopted strategies such as acquisitions, partnerships, agreements, collaborations, expansions, and product launches to enhance their presence in the corporate wellness solutions market.
ComPsych Corporation (US) is a leading player in the corporate wellness solutions market and accounted for the largest share of the market in 2020. The company’s service offerings in corporate wellness solutions include fully integrated employee assistance programs (EAPs), behavioral health programs, work-life services, health & wellness/health navigation, and FMLA (Family and Medical Leave Act) and absence management services under its brand GuidanceResources. In January 2020, the company announced the opening of its new office in St. Louis, Missouri, US.
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UnitedHealth Group (US) is one of the prominent players in the corporate wellness solutions market. It is a diversified healthcare company with two complementary businesses—Optum and UnitedHealthcare—to improve healthcare access, affordability, experiences, and outcomes for individuals. OptumHealth sells its products primarily through its direct sales force, strategic collaborations, and external producers to employers, including large, medium-sized, and small employers. Similarly, UnitedHealthcare Employer & Individual offers health benefit plans and services nationwide for large national employers, public-sector employers, medium-sized employers, and small businesses. The company mainly focuses on organic growth strategies, such as product launches, to maintain its presence in the corporate wellness solutions market. For instance, in January 2021, UnitedHealthcare launched virtual primary care for employees for wellness and routine and chronic condition management.
Related Reports:
Corporate Wellness Solutions Market by Service Offering (HRA, Nutrition, Weight Loss, Fitness, Substance Abuse Management, Employee Assistance Programs, Health Benefits), & End-User (Organizations (Large, Mid-Sized, SME)) - Global Forecast to 2026
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