All being well: Online service delivery is forecast to support industry revenue growth

The Corporate Wellness Services industry has struggled over the past five years. At the beginning of the period, federal and state government funding subsidised the cost of corporate wellness programs. However, health initiatives undertaken by the Federal Government in 2014 have since been either completed or cancelled, leading to declines in industry participation and revenue. Falling business confidence early in the past five-year period also contributed to reduced demand from businesses for wellness services. Consequently, several industry operators that previously relied on government support to deliver affordable programs have either left the industry or reduced their operational footprint over the past five years...read more.

Industry Statistics & Market Size
Revenue
$55m
Annual Growth 14-19
0.3%
Forecast Growth 19-24
Profit
Employment
338
Businesses
67
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Increasing awareness of employee wellness programs is boosting demand for industry services
  • Competition from government initiatives and fitness clubs has contributed to falling profit margins
  • Businesses are forecast to invest in wellness programs to minimise the costs of absenteeism
  • Industry Report - Industry Key Buyers Chapter

    The Corporate Wellness Services industry displays low market share concentration. The top four players are expected to account for less than 20% of industry revenue in 2018-19. The industry includes many small- and medium-size businesses. Barriers to entry are low and the industry is expected to record revenue growth over the next five years. Little consolidation has taken place in the industry over the past five years. Although some players dominate niche segments or niche markets, no player dominates the industry. However, UK-based health services giant Bupa acquired industry player PEAK Health Management in 2010, expanding into the industry. In the same year, US-based health provider Alere acquired Good Health Solutions. Alt...purchase to read more.

    Additional Insights for the Corporate Wellness Services Industry

    IBISWorld has determined the most important Key Success Factors for the Corporate Wellness Services are:

  • Easy access for clients
  • Access to highly skilled workforce
  • Having a good reputation
  • IBISWorld analysts also discuss how external factors such as Capital expenditure by the private sector and Health consciousness in the Corporate Wellness Services industry impact industry performance..

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    What's in this report

    What is the Corporate Wellness Services Industry?

    Industry companies primarily provide workplace programs designed to improve the mental and physical wellbeing of employees through a combination of educational, organisational and environmental activities. Industry services do not include programs designed internally by a company’s human resources personnel.

    Industry Products
  • Health risk assessments and health checks
  • Education and training
  • Mental health programs
  • Health and fitness programs
  • Other services
  • Industry Activities
  • Education and training provision
  • Health check provision
  • Psychology services provision
  • Fitness and dietary program provision
  • Health risk assessment provision
  • Online wellness services provision
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Capital expenditure by the private sector
  • Health consciousness
  • Average weekly hours worked
  • Total number of non-manual employees in the workforce

  • Current Performance
  • Government support
  • Rising awareness
  • Profit and enterprises
  • Chart: Revenue Growth

  • Industry Outlook
  • Employee wellbeing
  • Online delivery growth
  • Changing product mix
  • Profit and enterprises
  • Table: Corporate Wellness Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Corporate Wellness Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Financial and Insurance Services
  • Professional Services

  • Key Selling Industries
  • Computer System Design Services
  • Fitness
  • Health Services
  • Printing

  • Products & Services
  • Health and fitness programs
  • Health risk assessments and health checks
  • Education and training
  • Mental health programs
  • Other services
  • Chart: Corporate Wellness Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • White-collar businesses
  • Government clients
  • Blue-collar businesses
  • Other
  • Chart: Major Market Segmentation for the Corporate Wellness Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Marketing
  • Purchases
  • Rent, depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Corporate Wellness Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Corporate Wellness Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Corporate Wellness Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Corporate Wellness Services Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Health Check
  • During a health check, a healthcare professional assesses an employee's health by performing a physical examination.
  • Health Risk Assessment
  • Health risk assessments provide a snapshot of an employee’s health. The assessment typically involves a questionnaire, risk score and feedback.
  • Presenteeism
  • The practice of employees continuing to go to work despite not being able to work at a fully productive rate. This may be due to negative factors such as lack of sleep, stress or poor nutrition.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Corporate Wellness Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Corporate Wellness Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Corporate Wellness Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Corporate Wellness Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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