Canada Corporate Wellness Market Size, Share & Trends Analysis Report By Service (HRA, Stress Management), By Delivery Model (Onsite, Offsite), By Category, By End Use, And Segment Forecasts, 2022 - 2030

Report Overview

The Canada corporate wellness market size was valued at USD 2.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of around 4.33% from 2022 to 2030. The rising awareness regarding the available employee wellbeing services and the increasing onset of chronic diseases are the factors expected to drive the market growth. Stress affects around 72% of employees, who have revealed that they want their employer’s help, and results in one in four employees leaving the job. Apart from diseases, psychological problems cause disability in one in five people in Canada annually, making them the primary cause of disability costing the economy around USD 15 billion annually. Chronic conditions, such as cancer, asthma, diabetes, and hypertension, are responsible for an increase in absenteeism and loss of productivity.

According to Mercer (Canada) Limited, around 500,000 workers are absent weekly from work due to mental health issues, which costs Canadian companies approximately USD 12.5 billion annually due to loss in productivity. Health and wellness services for employees are beneficial for organizations. According to a study published in the Journal of Occupational and Environmental Medicine, in March 2018, considerable improvements were observed after one year of implementing corporate wellbeing services in reducing fatigue (6 to 11%), high emotional stress (15 to 21%), and poor sleep quality (28 to 33%) in employees in Canada. Growing awareness regarding high return-on-investment on corporate health services expenditure on employees is expected to boost the adoption of these services at the workplace by employers in Canada.

COVID-19 Canada corporate wellness market impact: 10.2% decrease from 2019 to 2020

For instance, in 2017, more than 75% of employers offered wellness initiatives to improve the well-being and health of their workers, according to the International Foundation of Employee Benefit Plans. According to Mercer (Canada) Limited, 49% of employees in Canada want an increased focus on health and wellbeing in the workplace. Organizations are undertaking initiatives to create better awareness regarding corporate health among employers. For instance, in November 2017, the Canadian Centre for Occupational Health and Safety (CCOHS) launched the e-course Business Case for Workplace Wellness. The course is designed to provide supervisors, managers, and owners with an introduction to establishing a corporate wellness program. 

Service Insights

Based on services, the market is segmented into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, and others. The health risk assessment segment dominated the market in 2021 with a revenue share of approximately 20.0% owing to the high adoption of health risk assessment services by employers while offering employee health services. Health Risk Assessment (HRA) analyzes information, such as height, weight, level of physical activity, smoking habits, and stress levels, of the employees to derive the risk factors affecting employee health. However, various additional factors need to be considered before performing an HRA, such as the quality of health information, the impact of risk factors on employee health, and the usability of the information.

The stress management segment is likely to witness the fastest CAGR during the forecast period. The rising adoption of remote patient monitoring devices is expected to drive the growth of the fitness segment. High incidences of smoking as well as the rising awareness about the adverse effects are major factors driving the growth of the smoking cessation segment. Health screening involves checking vital body stats like blood sugar levels, cholesterol, and urine among others to ensure normal body functioning. It has been found that many diseases are preventable if detected at the right time. Hence, if organizations make investments in health screenings, diseases will be detected earlier and can be prevented. Thus, investing in health screening can help save costs on employee health care plans.

End-use Insights

On the basis of end uses, the market has been further divided into small-, medium-, large-scale organizations. The large-scale organization's end-use segment dominated the market in 2021 and accounted for the largest share of more than 53.00% of the overall revenue. Large-scale organizations can readily invest in wellness services and can make sufficient space for service providers for onsite wellness services. Large-scale organizations offer various services on their campuses, such as therapists, chiropractors, and physicians. This eventually saves employees time and also contributes to their productivity.

The medium-scale organization's end-use segment, on the other hand, is expected to register the fastest growth rate during the forecast period. This growth can be attributed to the quick adoption of corporate wellness services in medium-scale companies. These organizations are generally at a growing stage, which leads to the quick adoption of corporate wellness programs. Moreover, these require employee-friendly policies to engage and retain their employees, which, in turn, reduces the cost of attrition. In addition, healthier employees lead to fewer healthcare premiums, which bodes well for the organization.

Category Insights

In terms of category, the market is further segmented into fitness & nutrition consultants, psychological therapists, and organizations/employers. The organizations/employers category segment led the market in 2021 with a revenue share of more than 50.00%. These service providers offer services, such as physician and psychologist consultations, health screening, and education sessions for large- and small-scale corporations. A rise in the number of personalized health programs along with the expansion of digital wellness and well-being tools is expected to drive the segment growth. The fitness & nutrition consultants segment is anticipated to witness the fastest CAGR over the forecast years due to the increased availability of fitness services, such as yoga, massage, and nutrition consultation.

Organizations hire fitness coaches for their employees, where one-on-one coaching is offered. Some employers also provide various activities and gym services. Employers often provide their employees with meditation and yoga sessions for stress release as stress can potentially impact employee performance, thereby affecting the business. Thus, organizations provide art therapy, which is a unique technique for releasing stress. It is considered a form of expressive psychotherapy that uses art to improve a person’s emotional, physical, and mental well-being. Professionals also use this therapy for people suffering from emotional and mental disorders. The increasing demand for such therapies is propelling the growth of the psychological therapist's segment.

Delivery Model Insights

In terms of delivery model, the onsite segment dominated the market in 2021 and accounted for the maximum revenue share of more than 55.0%. Service providers are taking initiatives to widen the scope of onsite services made available to the employees, fueling the market growth. For instance, in April 2020, Pamela Dempster Wellness Consulting partnered with Serene Physique to offer corporate massage therapy services in organizations across Atlantic Canada. Onsite wellbeing programs generally consist of activities, such as health screening/biometric screening, lectures, and meditation sessions, among others.

A few service providers have also integrated services, such as an onsite massage along with the required spa equipment in the office, reducing the wastage of employees’ time and money on spa & fitness centers. Offsite programs include one-to-one interaction at different location that helps improve employee health. Health services are constantly upgraded with the adoption of advanced technologies. This, coupled with increased adoption of wellbeing services by employees, is expected to drive the growth of the offsite delivery model segment over the forecast period.

Key Companies & Market Share Insights

The market is characterized by the increased awareness regarding the benefits of corporate wellness and initiatives, such as mergers & acquisitions and partnerships, by service providers to offer improved services and increase their market presence. For instance, in January 2020, Pamela Dempster Wellness Consulting partnered with The Faculty at the Atlantic Contemplative Centre (ACC) to offer an onsite and online employee wellness and mental health programming and skills required to develop resilience at work. Some of the key players operating in the Canada corporate wellness market include:

• Curtis Health

• Bridges Health

• Pamela Dempster Wellness Consulting

• Employee Wellness Solutions Network, Inc.

• INLIV

• Medcan

• Medpoint Health Care Centre

• Preventacare

• Well Street

• ComPsych

Canada Corporate Wellness Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research has segmented the Canada corporate wellness market report based on service, end use, category, and delivery model:

• Service Outlook (Revenue, USD Million, 2016 - 2030)

  • Health Risk Assessment

  • Fitness

  • Smoking Cessation

  • Health Screening

  • Nutrition & Weight Management

  • Stress Management

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2030)

  • Small-scale Organizations

  • Medium-scale Organizations

  • Large-scale Organizations

• Category Outlook (Revenue, USD Million, 2016 - 2030)

  • Fitness & Nutrition Consultants

  • Psychological Therapists

  • Organizations/Employers

• Delivery Model Outlook (Revenue, USD Million, 2016 - 2030)

  • Onsite

  • Offsite