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
Market Share Insights:
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.
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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