Digital Fitness & Well-Being - Canada

Canada

Highlights

The Digital Fitness & Well-Being market in Canada is anticipated to generate revenue of US$1.07bn by the year 2024.
It is projected to experience a steady annual growth rate of 6.67% from 2024 to 2029, resulting in a market volume of US$1.48bn by 2029.
The user penetration rate is expected to be 46.18% in 2024 and is predicted to reach 55.48% by 2029.
The average revenue per user (ARPU) is estimated to be US$59.27.
In comparison to other countries, United States is expected to generate the highest revenue in the market, amounting to US$14.82bn in 2024.
Canada's digital fitness and well-being market is thriving, with a wide range of innovative apps and platforms catering to the country's health-conscious population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digital Fitness & Well-Being market in Canada is experiencing significant growth and development, driven by various factors shaping consumer behavior and market dynamics.

Customer preferences: Consumers in Canada are increasingly prioritizing convenience, accessibility, and personalized experiences when it comes to their fitness and well-being needs. The demand for digital fitness solutions, online doctor consultations, and digital treatment options is on the rise as individuals seek more convenient ways to manage their health and wellness. With busy lifestyles and a growing emphasis on holistic well-being, Canadians are turning to digital platforms to stay active, seek medical advice, and access healthcare services remotely.

Trends in the market: In the Canadian market, there is a noticeable trend towards integrating digital fitness and well-being solutions into daily routines. From virtual workout classes to telemedicine services, the adoption of digital platforms for health and wellness purposes is becoming increasingly mainstream. Online fitness subscriptions, wellness apps, and remote healthcare consultations are seeing a surge in popularity as Canadians embrace the convenience and flexibility offered by these digital tools. Moreover, the COVID-19 pandemic has accelerated the digital transformation of the fitness and healthcare industries, further driving the demand for digital solutions in Canada.

Local special circumstances: One of the key factors influencing the Digital Fitness & Well-Being market in Canada is the vast geographical landscape of the country. With many remote and rural areas that may have limited access to traditional healthcare facilities, digital health services play a crucial role in bridging the gap and providing essential medical support to underserved communities. Additionally, the multicultural diversity of Canada's population contributes to the demand for multilingual and culturally sensitive digital health platforms that cater to the unique needs of different ethnic groups across the country.

Underlying macroeconomic factors: The overall economic stability in Canada, coupled with the government's focus on healthcare innovation and technology, provides a favorable environment for the growth of the Digital Fitness & Well-Being market. As disposable incomes rise and healthcare costs continue to escalate, Canadians are seeking cost-effective and efficient ways to manage their health, leading to increased adoption of digital solutions. Furthermore, regulatory support for telehealth services and digital health initiatives further propels the expansion of the market, creating opportunities for both established players and new entrants to thrive in the evolving landscape of digital health and wellness in Canada.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.