Report : North America Occupational Health Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Work Induced Stress, Asbestosis, Hearing Loss Due to Noise, Disorders Caused Due to Chemicals and Vibrations, and Others)
At 3.4% CAGR, the North America Occupational Health Market is speculated to be worth US$ 2,118.18 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America occupational health market was valued at US$ 1,671.68 million in 2021 and is expected to reach US$ 2,118.18 million by 2028, registering an annual growth rate of 3.4% from 2021 to 2028. Escalating number of diseases and disorders associated with occupational health and favorable regulatory environment toward occupational health are the critical factors attributed to the market expansion. Several agencies, associations, and societies are working to eliminate and control the safety issues and hazards in the work environment to safeguard employee life. Considering the emerging regional occupational health requirements, the governments of several countries have strict laws and policies. The regulatory policies imposed by the government encourage the key players to develop innovative safety tools. Thus, these initiatives fuel the growth of the occupational health market across the region. The adoption of workplace wellness programs is accelerating due to the respective government policies. These programs provide an advantage to employees at an age where wellness programs can change their long-term health trajectory. The Patient Protection and Affordable Care Act supports workplace wellness programs with several provisions that promote health at the workplace. These programs often consist of wellness screening activities, health risks identification, and interventions reducing risks promoting healthy lifestyles. 72% of the employers offering wellness programs substantiate their programs by combining screening activities and intervention support. The rising adoption of workplace wellness programs help key players nourish the occupational health market with effective and long-term services. The regulatory-compliant companies are all-time customers of the market, propelling the market growth.
On the contrary, lack of skilled professionals and inaccessibility of trade secret hurdles the growth of North America occupational health market.
Based on type, the North America occupational health market is segmented into work-induced stress, asbestosis, hearing loss due to noise, disorders caused due to chemicals and vibrations, and others. The hearing loss due to noise segment held 29.2% market share in 2021, amassing US$ 487.56 million. It is projected to garner US$ 627.39 million by 2028 to expand at 3.7% CAGR during 2021–2028.
Based on country, the North America occupational health market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.4% market share in 2021. It was assessed at US$ 1,327.43 million in 2021 and is likely to hit US$ 1,696.89 million by 2028, exhibiting a CAGR of 3.6% during the forecast period.
Key players dominating the North America occupational health market are Amgen Inc.; Examinetics; Holzer Health System; Johnson and Johnson Services, Inc; MBI Industrial Medicine Inc. (Workwell Occupational Medicine, LLC); NOHS Medical Center; Novartis AG; Occucare International; Premise Health; and Select Medical Corporation (Concentra Inc.) among others.
- In Oct 2021, Amgen announced that it has been selected as one of the World's Best Workplaces for 2021 by Fortune magazine and Great Place to Work. Amgen ranked eighth among the 25 companies named to the list. Those on the list were selected from 10,000 companies, representing the voices of nearly 20 million employees in more than 100 countries.
- In Oct 2020, Johnson & Johnson in honor of World Mental Health Day shared five examples of how company’s employees were breaking down the barriers to good mental health for communities and health workers. It included: Emotional support to frontline health workers, Cultural awareness training, Virtual well-being curriculum, Resiliency for Change workshop and Looking After Yourself & Your Team—Psychological First Aid.
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