Report : Asia Pacific Well-Being Platform Market Forecast to 2030 – Regional Analysis – by Service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Comprehensive Wellbeing, and Others), Provider (Fitness & Nutrition Consultant, Psychological Therapists, and Organizations/Employers), Delivery Model (Onsite and Offsite), and End User (Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations, and Home Use)
At 7.1% CAGR, the Asia Pacific Well-Being Platform Market is speculated to be worth US$ 1,27,554.72 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific well-being platform market was valued at US$ 73,625.46 million in 2022 and is expected to reach US$ 1,27,554.72 million by 2030, registering a CAGR of 7.1% from 2022 to 2030. Rise in workplace-associated disorders and reduction in healthcare costs are the critical factors attributed to the Asia Pacific well-being platform market expansion.
According to a report by the World Health Organization (WHO), employed individuals account for more than 50% of the global population, and 15% of these are living with mental disorders. Without effective support, mental disorders can hamper a person's confidence and productivity, and increase absenteeism. Annually, 12 billion working days are lost due to depression and anxiety. However, work-related mental health conditions can be averted by managing psychological risks at the workplace and implementing organizational interventions that directly target working conditions and environments. Additionally, the increasing implementation of health risk assessment (HRA) at the workplace is one of the best solutions to tackle physical and mental health conditions. Thus, the wellness platform market is growing with an upsurge in the cases of workplace-associated disorders.
On the contrary, failure in product positioning and implementation hampers on the growth of Asia Pacific well-being platform market.
Based on service, the Asia Pacific well-being platform market is divided into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, comprehensive wellbeing, and others. The comprehensive wellbeing segment held 26.4% market share in 2022, amassing US$ 19.43 billion. It is projected to garner US$ 33.73 billion by 2030 to expand at 7.1% CAGR during 2022–2030.
Based provider, the Asia Pacific well-being platform market is segmented into fitness & nutrition consultant, psychological therapists, and organizations/employers. The organizations/employers segment held 54.6% share of Asia Pacific well-being platform market in 2022, amassing US$ 40.19 billion. It is projected to garner US$ 67.82 billion by 2030 to expand at 6.8% CAGR during 2022–2030.
Based delivery model, the Asia Pacific well-being platform market is bifurcated into Onsite and Offsite. The onsite segment held 56.3% share of Asia Pacific well-being platform market in 2022, amassing US$ 41.48 billion. It is projected to garner US$ 70.56 billion by 2030 to expand at 6.9% CAGR during 2022–2030.
Based end user, the Asia Pacific well-being platform market is segmented into small scale organizations, medium scale organizations, large scale organizations, and home use. The home use segment held 69.1% share of Asia Pacific well-being platform market in 2022, amassing US$ 50.88 billion. It is projected to garner US$ 90.51 billion by 2030 to expand at 7.5% CAGR during 2022–2030.
Based on country, the Asia Pacific well-being platform market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.3% share of Asia Pacific well-being platform market in 2022. It was assessed at US$ 21.54 billion in 2022 and is likely to hit US$ 36.80 billion by 2030, exhibiting a CAGR of 6.9% CAGR during 2022–2030.
Key players operating in the Asia Pacific well-being platform market are Fitbit LLC, Limeade Inc, Optum Inc, Virgin Pulse Inc, and among others.
- In November 2021, Virgin Pulse, announced acquisition of Welltok to drive better health outcomes and cost reductions. The acquisition will introduce the industry's first end-to-end engagement and activation platform supporting clients, members, and consumers across the entire health community.
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