Industry Analysis & Industry Trends
During the past decade, academic research and media attention have focused on the costs imposed on businesses by illness and injury. According to a government report published in 2008, occupational injury and illness cost businesses an estimated £30 billion, while the cost of people not performing their jobs properly because of illness or injury is estimated to cost more than double this. Businesses have gradually come to realise the role corporate wellness services can play in reducing these costs, encouraging firms to invest in the industry's services.
Despite this, industry revenue declined during the base year and remained fragile during the start of the period as the economic downturn negatively influenced demand for services provided by industry participants... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Corporate Wellness Services industry is in the growth phase of its life cycle. During the 10 years through 2019-20, industry value added is forecast to grow at a compound annual rate of 3.6%, compared with forecast growth in GDP of 2.2% over the same period. This indicates that the industry will account for a growing share of the UK economy.
During the past five years, the industry has endured a challenging period as the economic downturn forced companies to trim non-core spending on services such as corporate wellness, especially during the start of the period. Despite this, the industry is well placed for growth over the next five years and beyond. Demographic and social trends are expected to result in the cost of poor health for businesses rising sharply... purchase to read more