Outlook on the Corporate Wellness Market in Canada to 2030 - Reduction in Employee Healthcare Costs is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "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 has been added to ResearchAndMarkets.com's offering.

The Canada corporate wellness market size is expected to reach USD 3.5 billion in 2030, expanding at a CAGR of 4.33% during the forecast period.

Companies Mentioned

• Curtis Health
• Bridges Health
• Pamela Dempster Wellness Consulting
• Employee Wellness Solutions Network, Inc.
• Inliv
• Medcan
• Medpoint Health Care Centre
• Preventacare
• Well Street
• Compsych

An increase in awareness regarding the available employee wellness services and the increasing onset of chronic diseases are some of the factors driving the market growth. In addition, the rising awareness regarding the benefits of these services in reducing the cost of absenteeism due to the loss of productivity is encouraging employers to adopt corporate wellness services. According to the Conference Board of Canada, the mental health conditions of working individuals cost around USD 15.5 billion annually to employers from the loss of productivity, absenteeism, and medical claims.

The key providers are engaging in partnerships and mergers & acquisitions to strengthen their market presence. For instance, in June 2020, Bridges Health partnered with the Saskatchewan Chamber of Commerce to conduct a webinar series focusing on maintaining mental health during the time of the pandemic. As the economy is hit by the COVID-19 pandemic, many employees are facing financial uncertainty affecting their mental health. Moreover, the work-from-home policy is also developing a sense of isolation in employees. The COVID-19 pandemic caused a change in the process of delivering wellness services.

The pandemic has seen an overall increase in telehealth services by wellness service providers. Although in-person sessions have resumed to some extent, at-risk employees can now access a virtual platform to satisfy their psychological and fitness demands. Initially, the lockdown imposed by the government resulted in the move to a work-from-home policy, which was stressful. A few developments have been seen in the delivery of corporate wellness services, such as the conduct of webinars on contemporary difficulties, such as financial uncertainty and the provision of telehealth facilities, to address employees' emotional and physical concerns.

Canada Corporate Wellness Market Report Highlights

• In terms of services, the Health Risk Assessment (HRA) segment dominated the market in 2021. HRA is a widely adopted service as it conducts an overall health analysis of the employee assisting in determining the further line of treatment required.
• The medium-scale organization's segment is expected to register the fastest CAGR over the forecast years due to the rising adoption of corporate wellness services by such organizations.
• The fitness & nutrition consultants category segment is expected to register the fastest CAGR over the forecast period.
• The segment includes services, such as lunch 'n learns and workshops, and group exercise classes to promote the habit of fitness and having a nutritious diet.
• The onsite delivery model segment dominated the market in 2021. Onsite services have a high adoption rate as they save employee time when compared to offsite services.
• Companies are modifying their corporate wellness strategies to meet the emerging public health crisis due to the COVID 19 pandemic. In April 2020, Medcan launched a new service for assisting employers in safeguarding their workplaces and employees.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

3.1 Market Segmentation

3.2 Penetration & Growth Prospect Mapping

3.2.1 Penetration Analysis

3.2.2 Market Driver Analysis

3.2.2.1 Reduction in employee Healthcare costs

3.2.2.2 Growing prevalence and early onset of chronic diseases

3.2.2.3 Regulations for Wellness Programs

3.2.3 Market Restraint Analysis

3.2.3.1 Slow Adoption and Low Awareness

3.3 Canada Corporate Wellness Market: Business Environment Analysis Tools

3.4 COVID-19 Impact Analysis

Chapter 4 Canada Corporate Wellness Market: Service Analysis

Chapter 5 Canada Corporate Wellness Market: End Use Analysis

Chapter 6 Canada Corporate Wellness Market: Category Analysis

Chapter 7 Corporate Wellness Market: Delivery Model Analysis

7.1 Canada Corporate Wellness Delivery Model Market Share Analysis, 2021 & 2030

7.2 Canada Corporate Wellness Delivery Model Market: Segment Dashboard:

7.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Delivery Model Segment

7.3.1 Onsite

7.3.1.1 Onsite market, 2016-2030 (USD Million)

7.3.2 Offsite

7.3.2.1 Offsite market, 2016-2030 (USD Million)

Chapter 8 Competitive Analysis

8.1 Recent development & impact analysis by key market participants

8.2 Company/Competition Categorization

8.3 Company Market Position Analysis

8.4 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/bob7ad