Canada Corporate Wellness Market Size, Share & Trends Report

Canada Corporate Wellness Market Size, Share & Trends Analysis Report By Service (Health Risk Assessment, Cessation, Fitness), By End-use, By Category, By Delivery Model, And Segment Forecasts, 2020 - 2027

  • Published Date: Nov, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-249-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The Canada corporate wellness market size was valued at USD 2.7 billion in 2019. It is expected to expand a compound annual growth rate (CAGR) of around 6% from 2020 to 2027. The increase in awareness regarding available employee wellness services, reduction in overall healthcare costs of the employee, 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. The increasing burden of chronic diseases is boosting the demand for wellness services at the workplace, as a substantial amount of time on weekdays is spent at the office.

Canada corporate wellness market size, by service, 2016 - 2027 (USD Billion)

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 wellness 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 wellness services expenditure on employees is expected to boost the adoption of these services at the workplace by employers in Canada.

Growing awareness regarding the benefits of corporate wellness is resulting in increased adoption by employers. 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. Moreover, according to Mercer (Canada) Limited, 49% of employees in Canada want an increased focus on health and wellness at the workplace.

Service Insights

The health risk assessment segment dominated the overall market with a revenue share of over 19% in 2019, characterized by the high adoption of health risk assessment services by employers while offering employee wellness services. HRA analyzes information such as height, weight, level of physical activity, smoking habits, and stress level 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 usability of the information. The stress management segment is expected to grow at the fastest rate over the forecast period.

Category Insights

The organizations segment led the market with a revenue share of around 50% in 2019. These service providers offer wellness services such as physician and psychologist consultations, health screening, and education sessions for large- and small-scale corporations. The rise in personalized wellness programs along with the expansion of digital wellness and well-being tools is expected to drive the organization category of the market. The fitness and nutrition consultants’ segment is anticipated to witness the fastest growth in the coming years due to an increase in the availability of fitness services such as yoga, massage, and nutrition consultation among others. Organizations hire fitness coaches for their employees, where one-on-one coaching is offered. Some employers also provide various activities and gym services.

Delivery Model Insights

The onsite segment dominated the Canada corporate wellness market with a revenue share of over 55% in 2019. 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 wellness 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 wastage of employees’ time and money on spa & fitness centers.

End-use Insights

The large scale organizations segment dominated the market with the largest revenue share of over 52% in 2019. Large scale organizations can readily invest in wellness services and can make sufficient space for service providers for onsite wellness services.

Canada corporate wellness market share, by end use, 2019 (%)

However, the medium-scale organization segment is expected to register the fastest CAGR over the forecast period due to the quick adoption of corporate wellness services. Medium-scale organizations are generally at a growing stage, which is leading to its fast adoption of corporate wellness programs. They require these employee-friendly policies to engage their employees and retain them, which reduces the cost of attrition. In addition, healthier employees will lead to less healthcare premium.

Key Companies & Market Share Insights

The market is characterized by the increase in awareness regarding the benefits of corporate wellness and initiatives such as mergers and acquisitions and partnerships by service providers to provide 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.

The COVID-19 pandemic caused a change in the process of delivering wellness services. Although in-person sessions have resumed to some extent, the virtual platform has been made available to at-risk employees to meet their psychological and fitness needs. Initially, the lockdown imposed due to COVID-19 resulted in the transition to work from home, causing a great deal of stress. A few changes are observed in the delivery of corporate wellness services such as conducting webinars on current challenges such as financial uncertainty and providing telehealth facilities for addressing the mental and physical concerns of the employees. 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

Report Attribute

Details

Market size value in 2020

USD 2.3 billion

Revenue forecast in 2027

USD 4.7 billion

Growth Rate

CAGR of 6.9% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD Million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Service, end use, category, delivery model

Country scope

Canada

Key companies profiled

Curtis Health; Bridges Health; Pamela Dempster Wellness Consulting; Employee Wellness Solutions Network, Inc.; INLIV; Medcan; Medpoint Health Care Centre; Preventacare; Well Street; ComPsych

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

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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 2027. For 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 - 2027)

    • Health Risk Assessment

    • Fitness

    • Smoking Cessation

    • Health Screening

    • Nutrition & Weight Management

    • Stress Management

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Small-scale Organizations

    • Medium-scale Organizations

    • Large-scale Organizations

  • Category Outlook (Revenue, USD Million, 2016 - 2027)

    • Fitness & Nutrition Consultants

    • Psychological Therapists

    • Organizations

  • Delivery Model Outlook (Revenue, USD Million, 2016 - 2027)

    • Onsite

    • Offsite

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