Telehealth is the fastest growing segment fueling the growth of the Occupational Health Market
The occupational health market consists of products and services offered by healthcare providers and organizations to protect workers from illness and injury due to harmful work environments and conditions. Occupational health services aim to promote physical and mental well-being of employees through medical assessment, surveillance of working environments and injuries, etc.
The global Occupational Health Market is estimated to be valued at US$ 104.18 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trend in the occupational health market is growing adoption of telehealth services. Telehealth enables remote delivery of occupational health services like primary care consultations, mental health counseling, diabetes management, and other chronic disease management using telecommunication and digital technologies. This helps in improving access and lowering costs associated with traditional on-site occupational health services. Telehealth has emerged as a viable option especially during the pandemic by allowing continuity of care while maintaining social distancing norms.
Segment Analysis
The global occupational health market is segmented based on services, end user, and region. Based on services, the occupational health market is segmented into work induced stress management, pre-employment medical screening, medical surveillance, drug and alcohol testing and others. Medical surveillance is the dominating segment as it helps employers meet regulatory requirements to monitor their employees’ health and wellbeing. Employers conduct regular medical examinations to ensure workers' fitness for duties.
Key Takeaways
The Global Occupational Health Market Demand is expected to witness high growth, exhibiting a CAGR of 4.6% over the forecast period, due to increasing awareness about employee health management and work-related illnesses.
Regional analysis
North America is expected to dominate the occupational health market during the forecast period. Stringent occupational safety and health regulations in countries like the US and Canada are driving the market in the region. Asia Pacific is projected to grow at the fastest pace owing to expanding manufacturing industries and growing focus on employee health and wellness in emerging economies like China and India.
Key players
Key players operating in the occupational health market are Cerner Corporation, Epic Systems Corporation, GE Healthcare, Siemens Healthineers, Drchrono, Kareo, AdvancedMD, athenahealth, eClinicalWorks, Allscripts Healthcare Solutions. Cerner Corporation and Epic Systems Corporation capture a significant share of the market due to their wide range of occupational health software and services.
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