The global Chinese wellness market
Dublin, July 01, 2024 (GLOBE NEWSWIRE) — The “China Corporate Wellness Market – Forecast to 2024 to 2029” report has ResearchAndMarkets.com Recruitment.
China’s corporate wellness market is expected to grow at a CAGR of 9.08% during the forecast period, reaching a market size of USD 1,170,697,000 by 2029, up from USD 637,064,000 in 2022.
Prominent contributing factors are the rising cost of healthcare and the prevalence of chronic diseases, with around 100 million people in China suffering from chronic obstructive pulmonary disease (COPD), accounting for almost a quarter of COPD cases worldwide. Corporate wellness initiatives are increasingly being recognised as effective in preventing and managing such diseases, containing healthcare costs and minimising employee absenteeism.
Additionally, the influence of technology and digitalization is also playing a key role. Innovative, tech-centric solutions such as wearables, mobile applications, and online platforms are transforming wellness programs into more accessible, engaging, and data-driven experiences. Incorporating elements of personalization and convenience increases employee participation and the overall effectiveness of the program.
Another key driver is China’s status as the world’s largest tobacco producer and consumer. With a staggering 300 million smokers, accounting for nearly a third of total global tobacco consumption, corporate health management plays a key role in mitigating smoking cravings and promoting the overall health of individuals.
Rising demand due to rising tobacco consumption is driving the corporate wellness market in China.
Tobacco use is the leading cause of preventable deaths and non-communicable diseases worldwide, with nearly half of smokers suffering from tobacco-related diseases such as cancer, lung disease and heart disease. In this alarming situation, China, the world’s largest tobacco producer and consumer, plays a vital role.
China is home to 300 million smokers, accounting for approximately one-third of the world’s smoking population, with more than half of adult males actively consuming tobacco. As of 2020, the smoking rate in China for those aged 15 and over was recorded at 26.2%, and the World Health Organization (WHO) predicts that this figure will be around 25.2%. Recognizing the seriousness of the problem and its potential economic impact, the “Healthy China 2030” strategy outlined a key goal of reducing adult smoking prevalence to 20% by 2030.
To realise this ambitious goal and offset the negative economic impact of smoking, corporate wellness promotion programs will play a key role. These programs, aligned with comprehensive health strategies, will help promote healthier lifestyles and may contribute to reducing smoking prevalence among the adult population. In essence, the integration of corporate wellness initiatives will be positioned as a proactive measure within a broader impact to improve overall public health outcomes.
Key attributes:
|
Report Attributes |
detail |
|
number of pages |
75 |
|
Forecast Period |
2022 – 2029 |
|
Estimated market value in 2022 (USD) |
$637.06 million |
|
Market value forecast to 2029 (USD) |
$1,170.7 million |
|
Compound Annual Growth Rate |
9.0% |
|
Target area |
China |
Key topics:
1.First of all
2. Research Method
Study design
2.2. Research process
3. Executive Summary
3.1. Main findings
3.2. Analyst Perspective
4. Market Trends
4.1. Market Drivers
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. CXO Perspective
5. China’s Corporate Wellness Market (by Type)
Introduction
5.2. Weight Management and Fitness
5.2.1. Market trends and opportunities
5.2.2. Growth prospects
5.3. Smoking Prohibition
Stress Management
5.5. Other
6. China’s Corporate Wellness Market by Company Size
Introduction
Small
6.2.1. Market trends and opportunities
6.2.2. Growth prospects
6.3. Moderate
6.4. Large
7. Competitive Environment and Analysis
7.1. Key Players and Strategic Analysis
7.2. Market Share Analysis
7.3. Mergers, Acquisitions, Contracts and Cooperation
7.4. Competitive Dashboard
8. Company Profile
8.1. Holistic Services Group
8.2. Workplace options
8.3. AWB Health Management
8.4. ComPsych, Inc.
For more information on this report, please visit: https://www.researchandmarkets.com/r/k6nll7
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