Workplace Stress Management Market Size to Grow at $11.49 Billion by 2027: Allied Market Research
Portland, OR, June 01, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global Workplace Stress Management Market was generated $8.21 billion in 2019, and is expected to reach $11.49 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.
Increase in competition in organizations and surge in awareness of stress management have boosted the growth of the global workplace stress management market. However, dearth of skilled counselors and lack of awareness in developing countries regarding workplace stress management hamper the market growth. On the contrary, increase in emphasis on health & safety regulations and rise in the popularity of yoga and other health-related practices are expected to open lucrative opportunities for the market players in the coming years.
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- The Covid-19 pandemic presented unprecedented challenges and changes to the human lifestyle. Thus, several countries imposed strict lockdown and companies adopted work from home culture to curb the spread of the virus. The pandemic resulted in the downsizing of employees in several organizations and lay off to cut costs. This hampered the market.
- The workspace stress could lead to anxiety and several disorders. Moreover, the pandemic hampered mental well-being and worsened the unaddressed mental health problems. These factors will affect the market growth.
The global workspace stress management market is segmented on the basis of service, delivery mode, end user, and region.
Based on service, the stress assessment segment held the largest share in 2019, accounting for nearly two-fifths of the market. However, the yoga and meditation segment is expected to manifest the highest CAGR of 9.1% during the forecast period.
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On the basis of delivery mode, the personal fitness trainers segment held the lion’s share in 2019, contributing to more than two-fifths of the market. However, the meditation specialists segment is projected to portray the highest CAGR of 7.2% during the forecast period.
The global workspace stress management market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2019, accounting for more than one-third of the market. However, the market across LAMEA is estimated to register the highest CAGR of 7.3% from 2020 to 2027.
The global workspace stress management market includes an in-depth analysis of the prime market players such as CVS Health Corporation (ActiveHealth Management, Inc.), Asset Health Inc., Fitbit, Inc., CuraLinc Healthcare LLC, ComPsych Corporation, Wellness Corporate Solutions LLC, Marino Wellness LLC, Sol Wellness, Wellsource, Inc., and Central Corporate Wellness Pte. Ltd.
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