LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Health and Wellness Services Market - Procurement Intelligence Report.
The spend momentum of this market is primarily attributed to the increasing adoption of corporate wellness programs in organizations. This is perceived as one of the chief initiatives adopted by employers to address the prevalence of ailments such as diabetes and hypertension among employees. Such ailments are impacting the productivity of employees, thereby affecting the business of their employers. Adoption of corporate wellness programs also helps organizations to avert an incurring healthcare expenditure by improving the overall well-being of their employees. Meanwhile, service providers are adopting advanced technologies such as data analytics to improve the quality of their services which is contributing to the demand growth in the health and wellness services market. Get the free sample of this procurement intelligence report on the health and wellness market segmentation here!
In terms of regional spend share, North America will take the lead with the US alone holding the maximum share. Buyers in the US are undertaking a preventive approach towards the prevalence of non-communicable diseases among their employees. The increasing expenditure on healthcare is also driving buyers to induct wellness programs which are further propelling the demand for health and wellness services in the US. Adoption of these services in Europe is mainly driven by the skyrocketing costs of healthcare. In APAC, the increasing awareness of employees about the importance of leading healthy lives is driving the adoption of wellness programs across the medium and large-sized organizations in the region.
This market intelligence report on the health and wellness market segmentation offers a detailed overview of the key cost drivers and category management insights that can aid in devising a sustainable procurement strategy. This procurement report also highlights the current supply market developments to help the buyers choose the appropriate vendors who can promise a steady supply assurance along with quality solutions. Not what you are looking for? Request for personalization of this health and wellness services market procurement intelligence report.
“Buyers must partner with service providers that can offer customized services that can have a focused impact on enhancing productivity in the workplace,” says SpendEdge procurement expert Tridib Bora.
This procurement intelligence report on health and wellness services has highlighted the following factors to play critical roles in influencing category spend. They include:
- Buyer’s aim to improve employee productivity will lead to category growth
- High spend on advertising will result in category price growth
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SpendEdge’s procurement market intelligence reports for the corporate services category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Health and wellness services
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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Category management enablers
- Procurement organization
- Category enablers
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- Category hierarchy
- Category scope
- Category map
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