Canada Corporate Wellness Industry 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.
Gather more insights about the market drivers, restraints and growth of the Canada Corporate Wellness market
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.
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Canada Corporate Wellness Industry Segmentation
Grand View Research has segmented the Canada corporate wellness market based on service, end use, category, and delivery model:
Canada Corporate Wellness Service Outlook (Revenue, USD Million, 2016 - 2030)
- Health Risk Assessment
- Fitness
- Smoking Cessation
- Health Screening
- Nutrition Weight Management
- Stress Management
- Others
Canada Corporate Wellness End-use Outlook (Revenue, USD Million, 2016 - 2030)
- Small-scale Organizations
- Medium-scale Organizations
- Large-scale Organizations
Canada Corporate Wellness Category Outlook (Revenue, USD Million, 2016 - 2030)
- Fitness Nutrition Consultants
- Psychological Therapists
- Organizations/Employers
Canada Corporate Wellness Delivery Model Outlook (Revenue, USD Million, 2016 - 2030)
- Onsite
- Offsite
Key Companies profiled:
Some prominent players in the Canada Corporate Wellness Industry include
- Curtis Health
- Bridges Health
- Pamela Dempster Wellness Consulting
- Employee Wellness Solutions Network, Inc.
- INLIV
- Medcan
- Medpoint Health Care Centre
- Preventacare
- Well Street
- ComPsych
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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