The global workplace stress management market was valued at $8,211.15 million in 2019, and is projected to reach $11,490.84 million by 2027, registering a CAGR of 5.90% from 2020 to 2027. Stress is a major health concern of modern times, which affects millions of people globally. Most of the individuals suffer from many forms of stress, including workplace stress. Excessive occupational tension affects workers' productivity, efficiency, and physical & emotional wellbeing. Thus, managing stress at the workplace has become an important aspect of health care.
Rise in competition in workplace and increase in awareness of stress management are the major factors that drive the market growth. However, lack of skilled counselors and limited awareness toward workplace stress management in the developing countries are expected to limit the growth of the workplace stress management market. On the contrary, surge in emphasis on health and safety regulations and increase in popularity of yoga and other health related practices are the factors expected to foster the market growth during the forecast period.
The coronavirus disease (COVID-19) has spread across the globe. Hence, owing to increase in number of corona virus patients, governments have imposed several rules and lockdowns across the globe, which has impacted the market in the initial phase of the forecast period. The COVID-19 impact has resulted in downsizing of employees in many organizations. Companies are laying off employees in an effort to cut costs. Employee layoffs as a part of cost cutting measures during COVID-19 pandemic is anticipated to create a negative impact on the workplace stress management market.
Workplace-related stress and anxiety can easily increase the level of disorder with negative consequences for physical health, mental well-being, workplace productivity, and career opportunities. The COVID-19 pandemic worsened the already widespread and largely unaddressed mental health problem in the workplace. Therefore, the aforementioned factors are expected to affect the market growth during the forecast period.
Global Workplace Stress Management Market Segmentation
The workplace stress management market is segmented on the basis of service, delivery mode, end user, and region. By service, it is divided into stress assessment, yoga & meditation, resilience training, progress tracking metrics, and others. By delivery mode, it is categorized into individual counselors, personal fitness trainers, meditation specialists, and others. By end user, it is divided into large private organizations, mid-sized private organizations, small private organizations, NGO and public sector. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By service, the market is segregated into stress assessment, yoga & meditation, resilience training, progress tracking metrics, and others. The stress assessment segment dominated the market in 2019, owing to employer’s efforts globally to reduce stress of employees in organizations and conducting stress management programs. Further, the yoga & meditation segment is estimated to grow at the fastest rate during the forecast period. This is attributed to the effectiveness yoga and meditation on relaxing the mind and soul. Moreover, many studies pertaining to yoga and meditation denote the associated efficiency in the reduction of workplace stress. Therefore, this segment is expected to experience growth and thus boost the market growth during the forecast period.
Stress Assessment segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
By delivery mode, it is divided into individual counselors, personal fitness trainers, meditation specialists, and others. The personal fitness trainers segment dominated the overall market in terms of revenue share in 2019. On the other hand, the meditation specialists’ segment is anticipated to grow at the fastest growth rate during the forecast period. This is attributed to increase in mindfulness at the workplace. In addition, many companies are encouraging meditation and fitness programs for the employees by utilizing customized mobile meditation applications to help manage stress.
By Delivery Mode
Meditation Specialists segment is projected as one of the most lucrative segment.
By end user, the market is categorized into large private organizations, mid-sized private organizations, small private organizations, NGO and public sector. The mid-sized private organizations segment accounted for majority of the market share in 2019, and is anticipated to maintain its dominance during the forecast period. This is attributed to the fact that these organizations employ the majority of the world’s workforce and have higher employee benefit budgets to spend for their employee wellbeing than small private organizations, NGOs and public sector.
By End User
Mid-sized Private Organizations segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
By region, the workplace stress management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the workplace stress management market in 2019 owing to presence of number of service providers and large-sized public and private organizations in this region. Moreover, increase in demand for workplace wellness is estimated to positively contribute toward the growth of the industry. In 2018, about 80% of large organizations and small organizations in the U.S. offered stress management programs to their employees. However, Asia-Pacific is expected to register the highest CAGR, in terms of revenue, during the forecast period. This is attributed to rise in medical expenditure in countries such as India and China, which has resulted in rise in demand for workplace stress management programs. Moreover, rise in the number of working individuals in this region along with the surge in awareness about the health management of employees are the factors expected to increase the demand for stress management programs.
North America was holding a dominant position in 2019 and would continue to maintain the lead over the analysis period.
Prominent players operating in the global workplace stress management market include CVS Health Corporation (ActiveHealth Management, Inc.), Fitbit, Inc., Asset Health Inc., ComPsych Corporation, CuraLinc Healthcare LLC, Marino Wellness LLC, Wellness Corporate Solutions LLC, Wellsource, Inc., Sol Wellness, and Central Corporate Wellness Pte. Ltd. These players are adopting growth strategies such as product launches, mergers and acquisitions (M&As), product developments, and partnerships & collaborations to gain competitive advantage in the market.
Key Benefits For Stakeholders
- This report entails a detailed quantitative analysis along with the current and future global workplace stress management market trends from 2019 to 2027 to identify the prevailing opportunities along with strategic assessment.
- The workplace stress management market forecast is studied from 2020 to 2027.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- Qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Key Market Segments
- Stress Assessment
- Yoga & Meditation
- Resilience Training
- Progress Tracking Metrics
By Delivery Mode
- Individual Counselors
- Personal Fitness Trainers
- Meditation Specialists
By End User
- Large Private Organizations
- Mid-sized Private Organizations
- Small Private Organizations
- Public sector
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Workplace Stress Management Market Report Highlights
By DELIVERY MODE
Key Market Players
COMPSYCH CORPORATION, CENTRAL CORPORATE WELLNESS PTE. LTD., ASSET HEALTH INC., WELLSOURCE, INC., CURALINC HEALTHCARE LLC, MARINO WELLNESS LLC, FITBIT, INC., SOL WELLNESS, CVS HEALTH CORPORATION (ACTIVEHEALTH MANAGEMENT, INC.)
Adoption of workplace stress management by large-sized private employers as well as small private, mid-sized sized private employers, NGOs, and public sector, due to COVID-19 pandemic has experienced an increase in the recent years. Further, a worker’s well-being or fitness is the key factor that defines an organization’s long-term success. Many studies show a direct link between productivity levels and general health and well-being of any workforce. Various enterprises and organizations are gradually recognizing significance of well-being of their employees. Small private organizations have initiated programs to address well-being of employees and focus on their health issues.
The workplace stress management market is anticipated to witness a significant growth in the future. The most adopted type of workplace stress management programs include stress assessment and yoga & medications. Moreover, there is a steady increase of such programs in the developing economies, which further propels the market growth. Further, North America dominated the global market, owing to increase in adoption of wellness programs by companies, presence of large private organizations, and awareness among employers toward maintenance of the wellbeing of their employees.