Corporate Wellness Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS OD4621Revenue
$19.0bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
2,517
Businesses
700
Wages
$X.Xbn
Corporate Wellness Services in the US industry analysis
Revenue for corporate wellness service providers has been relatively volatile during the current period. COVID-19 caused state and local governments to shut down businesses and enforce social distancing regulations, dragging down corporate profit and encouraging businesses to cut their expenditure on discretionary products such as corporate wellness services. As the economy opened up, soaring corporate profit, rising employment and more business creation increased demand for the industry's services. High inflation and rising interest rates have been straining corporations' budgets, hampering investment in corporate wellness services and causing the industry's revenue to slump. Still, rising inflation has caused households to take on more debt, worsening the mental health of the population and boosting demand for the industry's services. Overall, revenue for corporate wellness service providers is expected to drop at CAGR of 1.4% during the current period, reaching $19.0 billion in 2024. This includes a 0.5% rise in that year.
Trends and Insights
- The industry performed relatively poorly during the current period because of a major decline in revenue during COVID-19. The pandemic recovery and more household debt brought back some growth for corporate wellness services companies.
- Investment in Nutrition and weight management services have become more prevalent as obesity rates have increased. Spending on Health Risk Assessments has declined as critics claim they discriminate against some groups.
- Many corporate wellness providers exist in the Southeast. A quarter of the nation's population lives in the region, fostering the creation of many businesses and raising demand for the industry's services.
- Different regions of the United States have separate problems, so corporate wellness services tailor their packages in each area they operate in. Increased specialization makes it difficult for large players to take over the industry, raising fragmentation.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.4 % over the past five years, to reach an estimated $19.0bn in 2024.
Trends and Insights
COVID-19 shattered downstream demand
- The onset of the pandemic caused state and local governments to shut down businesses and enforce social distancing regulations. It became impractical and dangerous for most households to go to restaurants, hang out in malls and visit retail stores, so consumer spending and corporate profit plunged in 2020.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Steady economic growth will keep revenue rolling along
- As fears regarding COVID-19, high inflation, rising interest rates and recessionary fears subside, economic growth will be steady, creating confidence in the stock market and reducing investor uncertainty.
Biggest companies in the Corporate Wellness Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
ComPsych Corporation | 667.5 | 68.2 | 10.2 | |
Ceridian HCM Holding Inc. | 258.8 | 51.0 | 19.7 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Corporate Wellness Services in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Health Risk Assessments (HRAs), Nutrition and weight management and Smoking cessation . Health Risk Assessments (HRAs) is the largest segment of the Corporate Wellness Services in the US.
Trends and Insights
Spending from Health Risk Assessments (HRAs) displays backlash from detractors
- HRAs are questionnaires that corporate wellness companies give out to receive information about employees' nutrition, height, weight, physical activity, stress levels, smoking history and other health metrics.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Health & Welfare Funds in the US
- Boxing Gyms & Clubs in the US
Complementors
- Health Stores in the US
- Physical Therapists in the US
- Alternative Healthcare Providers in the US
- Emergency & Other Outpatient Care Centers in the US
International industries
- Corporate Wellness Services in Canada
- Human Resources & Benefits Administration in Canada
- Corporate Wellness Services in Australia
- Corporate Wellness Services in the UK
Table of Contents
About this industry
Industry definition
This industry includes companies that primarily provide workplace programs that offer a combination of educational, organizational and environmental activities designed to support behavior conducive to the health of employees and their families.
What's included in this industry?
Providing Health Risk Assessments (HRAs)Providing nutrition and weight management servicesProviding stress health and mental health servicesProviding smoking cessation servicesProviding alcohol and drug abuse servicesProviding fitness servicesProviding health education servicesProviding services to promote a better sleepCompanies
ComPsych CorporationCeridian HCM Holding Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
OBESITYSPINNING HEALTH ASSESSMENTBRICK-AND-MORTAR STOREMOM-AND-POP STOREIndustry Code
NAICS 62199 - Corporate Wellness Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry performed relatively poorly during the current period because of a major decline in revenue during COVID-19. The pandemic recovery and more household debt brough...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Investment in Nutrition and weight management services have become more prevalent as obesity rates have increased. Spending on Health Risk Assessments has declined as critics...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Many corporate wellness providers exist in the Southeast. A quarter of the nation's population lives in the region, fostering the creation of many businesses and raising dema...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Different regions of the United States have separate problems, so corporate wellness services tailor their packages in each area they operate in. Increased specialization mak...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The largest players in the industry comprise a small portion of revenue. Localization and the existence of corporate contracts with customers keep concentration low.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of ComPsych Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Ceridian HCM Holding Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for ComPsych Corporation, and factors influencing its performance in the industry
- Description and key data for Ceridian HCM Holding Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Most of the regulations that affect corporate wellness service companies relate to information collection. The Health Insurance Portability and Accountability Act (HIPPA) ens...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
When COVID-19 hit, many companies fired their workers, so total wages tanked. Employees have demanded higher pay recently because of higher inflation, causing wages' revenue ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Corporate Wellness Services in the US industry in United States in 2024?
The market size of the Corporate Wellness Services in the US industry in United States is $19.0bn in 2024.
How many businesses are there in the Corporate Wellness Services in the US industry in 2024?
There are 700 businesses in the Corporate Wellness Services in the US industry in United States, which has grown at a CAGR of 3.3 % between 2019 and 2024.
Has the Corporate Wellness Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Corporate Wellness Services in the US industry in United States has been declining at a CAGR of 1.4 % between 2019 and 2024.
What is the forecast growth of the Corporate Wellness Services in the US industry in United States over the next 5 years?
Over the next five years, the Corporate Wellness Services in the US industry in United States is expected to grow.
What are the biggest companies in the Corporate Wellness Services in the US market in United States?
The biggest companies operating in the Corporate Wellness Services market in United States are ComPsych Corporation and Ceridian HCM Holding Inc.
What does the Corporate Wellness Services in the US in United States include?
Providing Health Risk Assessments (HRAs) and Providing nutrition and weight management services are part of the Corporate Wellness Services in the US industry.
Which companies have the highest market share in the Corporate Wellness Services in the US in United States?
The company holding the most market share in United States is ComPsych Corporation.
How competitive is the Corporate Wellness Services in the US industry in United States?
The level of competition is moderate and increasing in the Corporate Wellness Services in the US industry in United States.
