Occupational Medicines Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.05 Billion |
| Market Size (2029) | USD 7.16 Billion |
| CAGR (2024 - 2029) | 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Occupational Medicines Market Analysis
The Occupational Medicines Market size is estimated at USD 5.05 billion in 2024, and is expected to reach USD 7.16 billion by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).
Occupational medicine helps in reducing the burden of healthcare expenditure. Providing proper care, diagnosis, and treatment in occupational medicine helps increase productivity. With the help of occupational medicine, the workers are provided proper training and assistance for preventing and treating diseases or injuries.
The major factors driving the growth of the market studied are a surge in awareness among the working population about occupational health, a favorable regulatory environment, increasing awareness programs organized by governments or non-governmental organizations (NGOs), and increasing chronic diseases among the working population.
For instance, in April 2022, ILO celebrated the annual World Day for Safety and Health at Work, which aimed to promote the global prevention of occupational accidents and diseases. World Day for Safety and Health at Work 2022 focused on enhancing social dialogue toward a safety and health culture. Hence, such awareness campaigns worldwide increase the importance of occupational medicine usage, thereby boosting market growth.
Moreover, new offerings and employer investments are expected to drive the market's growth further. For instance, in December 2023, Crossover Health launched a new occupational medicine offering to complement its existing primary health service offered to employers in the United States. These offerings include medical surveillance, work fitness exams, and mitigating work-related injuries and illnesses.
Furthermore, in October 2022, Cohezio and DOKTR partnered to launch the first occupational health teleconsultation. This pilot project is approved and supported by the FPS Employment, Labor, and Social Dialog, the supervisory authority of the SEPPT. Therefore, the market studied is anticipated to witness growth over the forecast period due to the rise in awareness programs regarding occupational health and the increase in occupational medicine offerings.
However, increasing adaptation of artificial intelligence (AI) and automation across industries is expected to hinder market growth over the forecast period.
Occupational Medicines Market Trends
Respiratory Diseases Segment is Expected to Grow Significantly Over the Forecast Period
The respiratory diseases segment is expected to grow over the forecast period, among other segments, due to the increasing number of respiratory illnesses such as asthma, chronic obstructive pulmonary disease (COPD), and silicosis globally. Work-related respiratory diseases caused by breathing in hazardous substances mainly damage the lungs. People who work in antibiotics manufacturing factories and drug manufacturing complain about breathing issues, and work-related asthma is more prevalent among this target population.
For instance, as per the article published in November 2022 in Frontiers, workers involved in the powder-coating process are at a high health risk due to the high concentrations of submicron particles. Furthermore, workers' respiratory intake of ultrafine particles (UFPs) is elevated, as evidenced by the highly deposited UFPs in the lungs and the accompanying high average daily doses (ADD) in employees. Hence, with the increasing drug development and manufacturing, the risk of occupational respiratory diseases is increasing, which is anticipated to drive the segment's growth over the forecast period.
Furthermore, as per the work-related asthma statistics in the United Kingdom published in July 2023, there were an estimated 350 new cases of occupational asthma reported by doctors participating in the SWORD (Surveillance of Work-Related & Occupational Respiratory Diseases) scheme within the Health and Occupation Reporting (THOR) network, United Kingdom. Additionally, as per US Bureau of Labor Statistics data updated in November 2023, employer-reported respiratory illnesses increased by nearly 37.5% in the United States in 2022 compared to the previous year. Therefore, the work-related respiratory diseases segment is anticipated to grow over the forecast period globally.
North America Anticipated to Hold a Significant Share in the Market Over the Forecast Period
North America is likely to hold a significant market share in the occupational medicines market over the forecast period owing to factors such as an increase in new product launches, the number of research and development (R&D) activities and investments in the sector, and an increase in awareness programs conducted by the government agencies. For instance, according to the Occupational Disease in Connecticut, 2023 report, musculoskeletal disorders (MSD) such as Carpal Tunnel Syndrome and tendonitis dominated other workers' compensation reports, accounting for 40% of reports and 30% of physician reports in the United States.
As per the same source, respiratory diseases and poisonings, which include respiratory conditions and lung diseases such as asthma, as well as poisonings such as from carbon monoxide and lead, accounted for 3% of cases for workers' compensation and 7% of physician reports. Hence, such a rise in occupational diseases among the workers in the region is expected to increase the demand in the occupational medicine market over the forecast period.
Furthermore, awareness programs across North America regarding the importance of occupational health are expected to drive market growth. For instance, from May 1 to 7, 2022, workplaces across North America celebrated Safety and Health Week with activities raising awareness of the importance of preventing injury and illness in the home, workplace, and community. This free, live event will feature perspectives on workplace health and safety and the impacts of workplace tragedies on families.
Therefore, North America is anticipated to witness growth over the forecast period due to the rise in workplace injuries, the surge in occupational diseases, and the increase in government awareness programs and funding initiatives.
Occupational Medicines Industry Overview
The market for occupational medicine is fragmented due to the presence of several companies globally. The studied market consists of several international companies that hold most of the market shares and are well known, including Concentra Inc., WorkCare Inc., Occucare International, Workwell Occupational Medicine LLC, and HealthWorks Medical LLC.
Occupational Medicines Market Leaders
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HealthWorks Medical, LLC
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Workwell Occupational Medicine, LLC.
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Occucare International
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Occupational Medical Services
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WorkCare, Inc.
*Disclaimer: Major Players sorted in no particular order
Occupational Medicines Market News
- February 2024: The Department for Work and Pensions launched an occupational health taskforce in the United Kingdom to tackle in-work sickness and reduce inactivity. The task force functions on a voluntary occupational health framework that sets out minimum levels of occupational health required to halt sickness-related job losses and help employees return to work after a period of ill health.
- March 2023: The Division of Occupational Medicine launched the UCT Occupational Medicine ECHO project in Africa. The project aims to develop a training program that builds occupational medicine clinical capacity and provides a community of practice for occupational medical practitioners from Southern Africa.
Occupational Medicine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rise in Awareness Programs Organized by Governments
- 4.2.2 Increasing Chronic Diseases Among Working Population
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4.3 Market Restraints
- 4.3.1 Increasing Adaptation of Artificial Intelligence (AI) and Automation Across Industries
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Application
- 5.1.1 Chemical Poisoning
- 5.1.2 Skin Disorders
- 5.1.3 Musculoskeletal Disorders
- 5.1.4 Respiratory Diseases
- 5.1.5 Other Applications
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5.2 By Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Concentra Inc.
- 6.1.2 WorkCare Inc.
- 6.1.3 Occucare International
- 6.1.4 Workwell Occupational Medicine LLC
- 6.1.5 HealthWorks Medical LLC
- 6.1.6 WebPT
- 6.1.7 Occupational Medical Services
- 6.1.8 MED-1 Occupational Health Services
- 6.1.9 Topaz Occupational Health Services
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Occupational Medicines Industry Segmentation
As per the scope of the report, occupational medicine is also known as occupational health. The branch of medicine deals with the prevention and treatment of work-related injuries and illnesses. Physicians are specially trained in occupational medicine and can diagnose and treat work-related injuries more effectively than primary care physicians.
The occupational medicines market is segmented by application and geography. By application, the market is segmented into chemical poisoning, skin disorders, musculoskeletal disorders, respiratory diseases, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD) for the above segments.
| By Application | Chemical Poisoning | |
| Skin Disorders | ||
| Musculoskeletal Disorders | ||
| Respiratory Diseases | ||
| Other Applications | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Occupational Medicine Market Research FAQs
How big is the Occupational Medicines Market?
The Occupational Medicines Market size is expected to reach USD 5.05 billion in 2024 and grow at a CAGR of 7.20% to reach USD 7.16 billion by 2029.
What is the current Occupational Medicines Market size?
In 2024, the Occupational Medicines Market size is expected to reach USD 5.05 billion.
Who are the key players in Occupational Medicines Market?
HealthWorks Medical, LLC, Workwell Occupational Medicine, LLC., Occucare International, Occupational Medical Services and WorkCare, Inc. are the major companies operating in the Occupational Medicines Market.
Which is the fastest growing region in Occupational Medicines Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Occupational Medicines Market?
In 2024, the North America accounts for the largest market share in Occupational Medicines Market.
What years does this Occupational Medicines Market cover, and what was the market size in 2023?
In 2023, the Occupational Medicines Market size was estimated at USD 4.69 billion. The report covers the Occupational Medicines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Occupational Medicines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Occupational Medicines Industry Report
Statistics for the 2024 Occupational Medicines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Occupational Medicines analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
