Report : Middle East & Africa 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 Well-Being, and Others), Category (Fitness and 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 3.0% CAGR, the Middle East & Africa Well-Being Platform Market is Speculated to be Worth US$ 13,602.99 million by 2030, Says Business Market Insights
According to Business Market Insights research, the Middle East & Africa well-being platform market was valued at US$ 10,736.11 million in 2022 and is expected to reach US$ 13,602.99 million by 2030, registering a CAGR of 3.0% from 2022 to 2030. Rise in workplace-associated disorders and reduction in healthcare costs are the critical factors attributed to the Middle East & Africa well-being platform market expansion.
Digital platforms have drastically transformed the way businesses operate today. The employee wellness ecosystem is also changing with modifications in business environments. Companies in the Middle East & Africa well-being platform market actively seek to incorporate cutting-edge technologies and innovations such as occupational health systems, artificial intelligence, and big data to develop comprehensive employee wellness strategies. As per the Frontiers S.A. report, digitalization is a novel phenomenon that employs information technology (IT) across various domains, especially with high applications in the healthcare sector. Wearables and digital biomarker apps are also widely adopted to collect physiological data. Employees can use their smartphones to self-report their mood; record their voice to gauge their emotional state; or use smartwatches to track heart rate, skin temperature, and electrodermal activity, among other parameters, to assess their wellbeing. Thus, digital tools can be used to address mental health challenges at workplaces by gathering data, with employers seeking to improve the well-being of teams.
On the contrary, failure in product positioning and implementation hampers on the growth of Middle East & Africa well-being platform market.
Based on service, the Middle East & Africa well-being platform market is segmented into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, comprehensive well-being, and others. The comprehensive well-being segment held 26.4% market share in 2022, amassing US$ 2.84 billion. It is projected to garner US$ 3.60 billion by 2030 to expand at 3.0% CAGR during 2022-2030.
Based on category, the Middle East & Africa well-being platform market is divided into fitness and nutrition consultant, psychological therapists, and organizations/employers. The organizations/employers segment held 55.6% share of Middle East & Africa well-being platform market in 2022, amassing US$ 5.97 billion. It is projected to garner US$ 7.44 billion by 2030 to expand at 2.8% CAGR during 2022-2030.
Based on delivery model, the Middle East & Africa well-being platform market is bifurcated into onsite and offsite. The onsite segment held 56.5% share of Middle East & Africa well-being platform market in 2022, amassing US$ 6.06 billion. It is projected to garner US$ 7.54 billion by 2030 to expand at 2.8% CAGR during 2022-2030.
Based on end user, the Middle East & Africa well-being platform market is segmented into small-scale organizations, medium-scale organizations, large-scale organizations, and home use. The home use segment held 67.0% share of Middle East & Africa well-being platform market in 2022, amassing US$ 7.19 billion. It is projected to garner US$ 9.35 billion by 2030 to expand at 3.3% CAGR during 2022-2030.
Based on country, the Middle East & Africa well-being platform market has been categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 34.0% share of Middle East & Africa well-being platform market in 2022. It was assessed at US$ 3.64 billion in 2022 and is likely to hit US$ 4.51 billion by 2030, exhibiting a CAGR of 2.7% during 2022-2030.
Key players operating in the Middle East & Africa well-being platform market are ComPsych Corporation, Fitbit LLC, Virgin Pulse Inc, and Quest Diagnostics Inc, 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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