Corporate Wellness Market by Country (China, Japan, India, Australia & Singapore) Date: 03-21-2017 05:24 PM CET Category: Health & Medicine Press release from: Transparency Market Research - Healthcare IT
The corporate wellness market in Asia Pacific is led by a slew of global and local companies, such as Central Corporate Wellness, ComPsych Corporation, Optum, Inc., JLT Australia (Recovre Group), Truworth Wellness, SOL Wellness, Sodexo, ConneXions Asia, and Bupa Wellness Pty Ltd. Transparency Market Research has observed that the number of companies venturing into this avenue has been steadily rising owing to the growing presence of MNCs in several developing countries. For more info Get a copy of Sample Brochure : goo.gl/Nhiy1w The opportunity in the corporate wellness market in Asia Pacific was pegged at US$3.4 bn in 2015 and is expected to be worth US$7.4 bn by the end of 2024 at a strong CAGR of 9.0%. Geographical expansions, expansion of product portfolio, mergers and acquisitions, and investing in extensive wellness programs are some of the key growth strategies adopted by the leading players in the Asia Pacific. For instance, in March 2016, Sodexo signed a 10-year contract with Rio Tinto to expand its operations in Australia. Increase of Non-communicable Diseases Driving Need for Health and Wellness Programs The prevalence of non-communicable diseases such as diabetes, chronic respiratory diseases, cardiovascular diseases, and cancer has increased significantly in Asia Pacific in recent years. The report has found that these diseases account for at least 8.5 million deaths in Southeast Asia each year. “Employers are, as a result, driven to promote as well as maintain the health and well-being of their employees and offering corporate wellness programs and services has turned out to be the most effective method of doing so,� the lead analyst states. These services not only boost productivity but also reduce overall medical costs. The corporate wellness market in Asia Pacific is also fueled by government support and initiatives, the rising number of white-collar employees, the willingness of employers to invest in wellness programs, and growing health consciousness among the population.
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