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| Occupational Health Care Market |
The
Occupational Health Market provides various services that help ensure the
health, safety, productivity and well-being of workers. The prevention,
diagnosis and treatment of occupational diseases and injuries are crucial for
businesses to reduce absenteeism and maximize worker productivity. The global
Occupational Health Market is estimated to be valued at US$ 120.02 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Growth Accelerated by Increased Emphasis on Worker Well-being
Occupational health services include pre-employment medical examinations, drug
and alcohol testing, health screening programs, work-related illness and injury
management as well as employee assistance programs. These services help ensure
a safe and compliant work environment while also boosting worker morale and
retention. With growing recognition of the link between worker health and
productivity, companies are increasingly emphasizing occupational health
initiatives.
Market key trends:
One of the key trends driving growth in the occupational health market is the
rising incidence of work-related musculoskeletal disorders and chronic
diseases. Prolonged standing, lifting of heavy objects, repetitive movements
and long work hours can place significant stress on the body and increase the
risk of injuries and disease over time. As working conditions continue to
evolve with changing job roles and requirements, the need for comprehensive
occupational health programs will continue growing to address new and emerging
workplace risks to physical and mental well-being. Occupational physicians are
also leveraging new diagnostic tools and telehealth solutions to more
efficiently monitor worker health and catch issues early. This is expected to
boost accessibility of occupational health services.
Segment
Analysis
The global occupational health market is divided into two key segments- service
and product. The service segment currently dominates the market owing to
growing emphasis on creating awareness about occupational health and safety. It
held over 60% share of the total market in 2024 primarily due to increasing
number of organizations opting for occupational health checkups and employing
occupational physicians for employees' health and safety needs.
Key Takeaways
The global Occupational
Health Market Growth is expected
to witness high growth due to stringent regulatory standards pertaining to
occupational health worldwide. The market size is projected to reach US$ 212.41
billion by 2031 from US$ 120.02 billion in 2024, registering a CAGR of 9.5%
during the forecast period.
Regional analysis: North America dominated the occupational health market in
2024 and is expected to continue its dominance during the forecast period.
Presence of stringent worker safety laws such as OSHA in the US and growing
health awareness among employers is supporting the growth of occupational
health market in the region. Asia Pacific is projected to witness the fastest
growth during the forecast period owing to rapid industrialization and growing
focus of companies on employees' well-being in developing countries such as
China and India.
Key players
operating in the occupational health market are Aisin Seiki Co. Ltd.,
Borgwarner Inc., Continental AG, Delphi Automotive PLC, Denso Corporation, Hitachi
Automotive Systems Ltd., Johnson Controls Inc., Johnson Electric, Jtekt
Corporation, Magna International Inc., Mitsubishi Electric Corporation, Robert
Bosch GmbH, Valeo SA, Wabco Holdings Inc., and ZF Friedrichshafen AG. These
players are focusing on new product launches and partnerships to strengthen
their market position.
For more
insights, read-https://www.pressreleasebulletin.com/occupational-health-market-trends-size-and-share-analysis/
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