Over the past five years, the corporate wellness services industry has experienced robust growth as more businesses have purchased wellness programs to help lower healthcare costs, according to a recent report from IBISWorld, a research and analysis firm.
On average, the industry experienced a 6-percent annual growth in revenue between 2010 and 2015.
Much of the industry's growth is due to the fact that 72 percent of employers have purchased screening services to identify employees' health risks and intervention services to promote healthy lifestyle choices during that timeframe.
Lifestyle management programs offered by businesses include:
- Nutrition and weight counseling (79 percent)
- Smoking cessation (77 percent)
- Fitness (72 percent)
- Alcohol and drug abuse programs (52 percent)
- Stress management (52 percent)
- Health education (36 percent)
Demand for corporate wellness services is heightened further by the high return on investment businesses expect.
"Businesses are realizing that they can have a high return on investment for disease management services, with each dollar allocated toward these programs resulting in a $3.80 ROI," said IBISWorld healthcare analyst Sarah Turk.
According to the report, the industry revenue is expected to grow roughly 8.4 percent annually over the next five years to $12.1 billion in 2020.
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