Report : North America 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 5.7% CAGR, the North America Well-Being Platform Market is speculated to be worth US$ 2,77,828.56 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the North America well-being platform market was valued at US$ 1,78,830.37 million in 2022 and is expected to reach US$ 2,77,828.56 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. Rise in workplace-associated disorders and reduction in healthcare costs are among the critical factors attributed to the North America well-being platform market expansion.
According to a Centers for Disease Control and Prevention (CDC) report, investing in employees' health may lower the costs of healthcare and insurance claims. Employees suffering from obesity, smoking, and diabetes, pose a heavy burden on medical insurance companies to settle frequent and often high-cost healthcare-related claims. A healthy workplace program has the potential to keep both employees and employers in a low-risk category as it focuses on the overall health at workplaces and targets unhealthy employees, ultimately reducing overall health insurance costs. According to the RAND Corporation report, a lifestyle and disease management program helps employers reduce average healthcare costs by US$ 30 per member per month (PMPM). In addition, employees participating in the disease management program managed to save ~US$ 136 PMPM with a 30% reduction in hospital admissions. The RAND Wellness Program Study claims that lifestyle management can reduce health-associated risks such as smoking, obesity, and lack of physical activity. Thus, an effective workplace wellness program can lower an individual's hospital admission claims and encourage them to opt for clinical preventative services. Johnson & Johnson's Health and Wellness Program revealed that medical costs decreased annually by ~US$ 225 per participating employee through its policy, environmental, and educational components for addressing health risks, such as high blood pressure and cholesterol.
On the contrary, failure in product positioning and implementation hampers on the growth of North America well-being platform market.
Based on service, the North America 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 27.1% market share in 2022, amassing US$ 48.45 billion. It is projected to garner US$ 73.27 billion by 2030 to expand at 5.3% CAGR during 2022–2030.
Based provider, the North America well-being platform market is segmented into fitness & nutrition consultant, psychological therapists, and organizations/employers. The organizations/employers segment held 54.6% share of North America well-being platform market in 2022, amassing US$ 97.56 billion. It is projected to garner US$ 148.23 billion by 2030 to expand at 5.4% CAGR during 2022–2030.
Based delivery model, the North America well-being platform market is bifurcated into Onsite and Offsite. The onsite segment held 56.4% share of North America well-being platform market in 2022, amassing US$ 100.82 billion. It is projected to garner US$ 151.30 billion by 2030 to expand at 5.2% CAGR during 2022–2030.
Based end user, the North America well-being platform market is segmented into small scale organizations, medium scale organizations, large scale organizations, and home use. The home use segment held 61.8% share of North America well-being platform market in 2022, amassing US$ 110.60 billion. It is projected to garner US$ 178.10 billion by 2030 to expand at 6.1% CAGR during 2022–2030.
Based on country, the North America well-being platform market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 64.7% share of North America well-being platform market in 2022. It was assessed at US$ 115.76 billion in 2022 and is likely to hit US$ 178.06 billion by 2030, exhibiting a CAGR of 5.5% CAGR during 2022–2030.
Key players operating in the North America well-being platform market are Asset Health Inc, Bravo Wellness LLC, CHC Wellbeing Inc, Fitbit LLC, Healthcheck360, Limeade Inc, Marquee Health LLC, Navigate Well-Being, Optum Inc, Sonic Boom Wellness LLC, Virgin Pulse Inc, Vitality Group International Inc, WebMD Health Services Group Inc, Wellable LLC, Wellness 360 Technologies Inc, Wellright Inc, WellSteps.com LLC, and Wellworks for You, among others.
- In April 2023, WebMD announced launching of a new brand namely, "WebMD Ignite" that offers a comprehensively array of healthcare solutions to kickstart healthcare organizations efforts to improve engagement and fuel growth through every stage of the healthcare journey from discovery to recovery.
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