Corporate Wellness Services in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: March 2024
NAICS S004CARevenue
$3.3bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
328
Businesses
90
Wages
$XXX.Xm
Corporate Wellness Services in Canada industry analysis
Corporate wellness services providers in Canada have experienced tough operating conditions in recent years as corporate profit has displayed high volatility. This trend has been contrasted by the rising cost of health services resulting from an aging workforce, coupled with a need to improve employee satisfaction and productivity, which have led many employers to invest in wellness programs.<br />Despite increasing demand, providers have endured pressure from external competition. This comes from in-house wellness programs, health and wellness industries and large insurance companies that offer their in-house services. COVID-19 eroded revenue in 2020 as corporate profit also fell. Businesses' ability to afford corporate wellness programs also took a hit. Since funding for corporate wellness programs is considered a discretionary purchase, businesses are highly sensitive to changes in economic conditions concerning their wellness programs. The industry performed well in 2022 and 2023 as the economic recovery caused corporate profit to soar. Rising interest rates have recently induced recessionary fears, threatening providers. Overall, revenue for corporate wellness services providers in Canada is anticipated to creep downward at a CAGR of 0.8% during the current period, reaching CA$3.3 billion in 2024. This includes a 3.3% decline in revenue in that year.<br />Revenue will perform well during the outlook period as stable economic growth will raise corporate profit and give businesses more funds to spend on the industry’s services. Efforts to control climbing healthcare costs with an increased emphasis on employee satisfaction and productivity will also drive demand for corporate wellness services. More programs are expected to focus on preventive care and mental health, as these factors are increasingly linked to improved employee well-being, lower costs and higher productivity. Profit will creep downward as new entrants increase saturation, boosting price competition. Overall, revenue for corporate wellness services companies in Canada is forecast to expand at a CAGR of 2.3% during the outlook period, reaching CA$3.8 billion in 2029.
Trends and Insights
- Uneven corporate profit has sucked away revenue in recent years. Corporate wellness services providers rely heavily on a healthy corporate economic environment.
- Tobacco cessation programs are a key part of revenue. Their importance has diminished as the number of Canadians who smoke has declined.
- Quebec and Ontario collectively contain many establishments, comprising more than half of all providers. There are many businesses and government operations in these provinces.
- Market share concentration is low, with few companies securing a notable market share. Most players are nonemployers and don't have the scale to dominate the market.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $3.3bn in 2024.
Trends and Insights
Rising health consciousness has increased demand for the industry's services
- Health consciousness has increased among Canadians in recent years. While the obesity rate has crept upward during the current period and is expected to continue climbing in the near future, many have adopted healthier eating and exercise habits as health expenditure grows. This development has boosted demand for corporate wellness services from prospective employees.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Steadier economic conditions will solidify revenue growth
- The economy is forecast to continue growing in the coming years, albeit at a more stable rate. Most post-pandemic growth has been completed while cooling inflation will cause the Bank of Canada to bring down interest rates, reducing recessionary fears. The positive macroeconomic environment will boost corporate profit while causing the unemployment rate to decline further.
Biggest companies in the Corporate Wellness Services in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
LifeWorks Inc. | 256.5 | 44.3 | 17.3 | |
Workplace Options | 23.9 | N/A | N/A | |
Boomerang Workplace Wellness | 1.1 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Corporate Wellness Services in Canada
Products & Services
Industry revenue is measured across several distinct product and services lines, including Health biometric assessments, Fitness and health programs and Smoking cessation. Health biometric assessments is the largest segment of the Corporate Wellness Services in Canada.
Trends and Insights
Health biometric screenings are the largest product segment
- Corporate wellness services providers in Canada derive more than one-quarter of revenue from health biometric assessments. Businesses that contract with providers will use these assessments to get to the root of the causes of workplace stress and the effectiveness of their wellness program.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Commercial Banking in Canada
- Real Estate Investment Trusts in Canada
- Men's & Boys' Apparel Manufacturing in Canada
Complementors
- Health Stores in Canada
- HR Consulting in Canada
- Physical Therapists in Canada
International industries
- Corporate Wellness Services in the US
- Corporate Wellness Services in Australia
- Personal Welfare Services in New Zealand
- Corporate Wellness Services in the UK
Table of Contents
About this industry
Industry definition
Corporate wellness companies provide workplace programs that offer educational, organizational and environmental activities designed to support the health of employees and their families. Players offer these services to public, private and nonprofit customers.
What's included in this industry?
Providing health assessments and screeningsProviding weight management educationOffering tobacco cessation programsOffering health risk assessmentsProviding fitness classes and servicesCompanies
LifeWorks Inc.Workplace OptionsBoomerang Workplace WellnessPurchase this report to view all 3 major companies in this industry.
Related Terms
HEALTH RISK ASSESSMENTHYPERTENSIONDIALYSISIndustry Code
NAICS 812990 - Corporate Wellness Services in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Uneven corporate profit has sucked away revenue in recent years. Corporate wellness services providers rely heavily on a healthy corporate economic environment.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Tobacco cessation programs are a key part of revenue. Their importance has diminished as the number of Canadians who smoke has declined.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Quebec and Ontario collectively contain many establishments, comprising more than half of all providers. There are many businesses and government operations in these province...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Market share concentration is low, with few companies securing a notable market share. Most players are nonemployers and don't have the scale to dominate the market.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
LifeWorks dominates among Canadian corporate wellness services providers. Now that Telus Corporation has purchased it, the company will have even greater reach.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of LifeWorks Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Workplace Options's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Boomerang Workplace Wellness's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for LifeWorks Inc., and factors influencing its performance in the industry
- Description and key data for Workplace Options, and factors influencing its performance in the industry
- Description and key data for Boomerang Workplace Wellness, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Corporate wellness services providers get little assistance. These services aren't essential and are niche, limiting both public and private assistance.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit is high for Canadian corporate wellness services providers. These companies have little overhead and don't have significant expenses, boosting profit.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Corporate Wellness Services industry in Canada in 2024?
The market size of the Corporate Wellness Services industry in Canada is $3.3bn in 2024.
How many businesses are there in the Corporate Wellness Services in Canada industry in 2024?
There are 90 businesses in the Corporate Wellness Services industry in Canada, which has grown at a CAGR of 4.6 % between 2019 and 2024.
Has the Corporate Wellness Services industry in Canada grown or declined over the past 5 years?
The market size of the Corporate Wellness Services industry in Canada has been declining at a CAGR of 0.8 % between 2019 and 2024.
What is the forecast growth of the Corporate Wellness Services industry in Canada over the next 5 years?
Over the next five years, the Corporate Wellness Services industry in Canada is expected to grow.
What are the biggest companies in the Corporate Wellness Services market in Canada?
The biggest companies operating in the Corporate Wellness Services market in Canada are LifeWorks Inc., Workplace Options and Boomerang Workplace Wellness
What does the Corporate Wellness Services in Canada include?
Providing health assessments and screenings and Providing weight management education are part of the Corporate Wellness Services industry.
Which companies have the highest market share in the Corporate Wellness Services in Canada?
The company holding the most market share in Canada is LifeWorks Inc..
How competitive is the Corporate Wellness Services industry in Canada?
The level of competition is high and increasing in the Corporate Wellness Services industry in Canada.
