Literature Review

Literature review
 Literature Review 1

Table of Contents

Introduction 2

Market size, Growth and Industry trend 2

Primary Company - Jamieson wellness Inc. 3

Company 2 - Curtis Personalized Health 5

Company 3 - GSK Canada 5

Conclusion 6

Reference 7
 Literature Review 2

Introduction

The following document will be analysing the opportunities and the issues faced by the
Canadian professional wellness industry which is currently worth USD 2.7 billion. The industry is
predicted to rise due to a development in knowledge of accessible workplace wellness
solutions, a decrease in total healthcare expenses for employees, as well as a surge in the start
of chronic illnesses (Grand View Research, 2020). Anxiety at the workplace along with other
psychological problems led to the growth of the wellness sector in Canada. As per Grand View
Research, 2020), increased consciousness of the advantages of workplace wellbeing, as well
as actions including such m&a deals and collaborations by service companies to enhance
offerings and expand their competitive position, characterise the industry.

Market size, Growth and Industry trend

Chronic illnesses include melanoma, breathing problems, cardiovascular diseases, and

high blood pressure cause a rise in absenteeism and reduced productivity (Grand View
Research, 2020). As per Mercer (Canada) Limited, over 500,000 people are missing from office
per week because of psychological health difficulties, costing Canadian businesses around USD
12.5 billion in lost performance each year. Companies benefit from workforce health and
wellbeing offerings (Grand View Research, 2020). As per a research publicly released in the
“Journal of Occupational and Environmental Medicine in March 2018”, employees in Canada
experienced significant positive changes in exhaustion (6 percent to 11 percent), high mental
anguish (15 percent to 21 percent), and impoverished sleep quality (28 percent to 33 percent)
after one year of instituting organisational wellness assistance (Grand View Research, 2020).
Companies in Canada are likely to embrace such solutions in the workplace as knowledge
grows about the strong return-on-investment from workplace health services spent on workers.
 Literature Review 3

Figure 1: Market size of the Canadian Wellness Industry by service

(Source: Grand View Research, 2020)
In 2019, the Canadian workplace wellness industry was valued at USD 2.7 billion, with a
forecast of USD 2.3 billion by 2020 (Grand View Research, 2020). During 2020 to 2027, the
Canadian workplace health market is predicted to increase at a compounded yearly rate of
economic growth of 6.9%, reaching USD 4.7 billion.

Primary Company - Jamieson wellness Inc.

Jamieson Vitamins is a division of Jamieson Wellness Inc., which develops,

manufactures, and promotes natural health products. Vitamins, minerals, and supplement items,
as well as over-the-counter treatments and sports nutrition products, are available from the
company. Jamieson Vitamins caters to clients all around the world (Jamisons, 2019). The firm,
based in Toronto, Canada, is in the pharmaceuticals and medicine production sector, with over-
the-counter medications as its mainstay. This wellness company employs over 900 people
across all of its facilities and earns $310 million in revenue (USD) (Jamisons, 2019). As part of
the wellness network, there are nine more affiliated or sister firms that cater to the requirements
of varied people with diverse demands. Much has happened in the previous several decades,
therefore the company recognises the significance of looking ahead and driving the
development of natural health and ability to continue to supply customers with the health and
wellness services they require (Jamisons, 2019). The organization's common vision, purpose,
and values serve as key principles, ensuring that the corporation continues to surpass the
aspirations of all partners. The company's valued workers, component manufacturers, major
retailers, and, most significantly (Jamisons, 2019); Jamieson customers who trust the company
to enable them to enhance their health and wellbeing are all stakeholders.
 Literature Review 4

The organisation has recognised the need for planning ahead as well as driving the
development of organic health to keep supplying customers with the pure healthcare products
they require (Jamieson Values, 2022). Their collective Vision, Mission, but also Values serve as
leading fundamentals for the corporation, ensuring that they continue to surpass the demands of
all stakeholders, including valuable workers, suppliers, independent retailers, and, most
pertinently, Jamieson customers who entrust them with their wellbeing and health.
❖ Vision - “Our vision is to improve the world's health and wellness.”
❖ Mission - “Grow our trusted brands based on quality and innovation (Jamieson Values,
2022). Over time, combine organic brand growth and future acquisitions to become the
world’s most successful and trusted health and wellness Company.”
❖ Values - “Our values are our controlling philosophies as to in what way we want to
conduct ourselves and the behaviours we value as an organisation. It includes
collaboration, entrepreneurship, accountability, honesty, transparency, and peripheral
focus.’’
❖ Strategy - Jamieson is a genuinely worldwide, multi-local organisation that provides its
clients with a depth of global experience and regional skills. It has developed a
diversified product strategy for men, women and children (Businesswire, 2018). The
Branded Business (which accounted for 79 percent of 2017 revenue and 86 percent of
Adjusted EBITDA) provides a diverse array of top-quality products through distribution
networks (Investor Presentation, 2018). Along with that, the company has a unique
operational strategy through the production of Natural Health Products. Corporate
Alliances (21 percent of 2017 revenue, 14 percent of 2017 Adjusted Income) are
strategically significant (Investor Presentation, 2018); in co-manufacturing agreements
with selected blue-chip customer wellness firms and stores throughout the globe to
utilise facilities and reduce expenses.
❖ Investment philosophy - Jamieson Wellness has a very unique and efficient
investment philosophy. The wellness market is unpredictable and consumers have
different needs for which diversification of products is necessary which the company has
already applied (Investor Presentation, 2018). Also, the company knows that the returns
of past years are quite unpredictable therefore, it carefully develops risk management
strategies. The incomes are adjusted and the revenues are strategically invested to
leverage product innovation and brand equity in order to increase sales in the existing
markets (Investor Presentation, 2018). Also, the growth of the company is monitored so
 Literature Review 5

that opportunities like capitalising the international market can be easily captured by
Jamieson Wellness.

Company 2 - Curtis Personalized Health

“Curtis Personalized Health Management Limited” is in another Entertainment and

Recreational Services business and is based in West Vancouver, British Columbia, Canada
(Dun & Bradstreet, 2022). Curtis employs 5 people all across its facilities as well as earns a total
revenue of $317,365 (USD).
❖ Vision - Its primary vision is to provide unprecedented services along with health care
promotion and well-being alternatives as well as solutions to individuals and contribute to
corporate wellness.
❖ Mission - The mission of Curtis Personalized Health is to manage fitness and provide
corporate assistance regarding wellness to interview judges over 12 corporations and
approximately 25 fitness facilities (Curtis, 2019).
❖ Values - The values followed by Curtis is customer satisfaction, adapting with the needs
of the customers and making their resources accessible to all through online websites
and so on.
❖ Strategy -. The company does not have a product strategy but follows an effective
operational strategy. The company has hired employees to provide assistance in each of
the corporations and fitness facilities (Curtis, 2019). It has successfully managed the
employees in providing daily care services as well as other product offerings.
❖ Investment philosophy - Curtis believes in order to be successful it is necessary to
have strong leadership and effective investment which usually helps in achieving better
growth and returns.

Company 3 - GSK Canada

GlaxoSmithKline Plc is a generic drug business that develops, manufactures, and

markets prescription medications, immunisations, and consumable wellness products (Forbes,
2022). Pharmaceutical company is responsible for the development of drugs for pulmonary as
well as infectious disorders, cancer, and induced immune. They also develop nutrition and oral
wellness products (Forbes, 2022). They leverage 94,000 employees in 96 nations and
collaborate with 36,000 vendors directly.
 Literature Review 6

❖ Vision - “Every day, we help improve the health of millions of people around the world
by discovering, developing and manufacturing innovative medicines, vaccines and
consumer healthcare products” (Annual Report, 2020).
❖ Mission - The mission is to enhance people's standard of living by assisting them in
doing more, feeling better, and living longer.
❖ Values - The primary values of GSK include innovation, patient focus, performance,
culture and integrity, transparency, teamwork and accountability (Annual Report, 2020).
These are the guiding principles that the company follows to promote healthy lifestyle
and wellbeing.
❖ Strategy - The primary strategy is to provide diverse and quality e wellness and
Healthcare products to every individual across the globe (Annual Report, 2020). The
company utilises scientific and technological equipment along with talented employees
to prevent diseases and promote healthy lifestyle.
❖ Investment philosophy - Glaxosmithkline is a science-led worldwide wellness firm that
develops breakthrough medicine, immunisation, and consumable health products with
the goal of delivering development and enhancing returns on capital (GSK Investors,
2020).

Conclusion

Wellness and health care products are continuously growing and the healthcare as well
as Pharmaceutical companies are investing more to develop such solutions due to the
increasing immune-breakdown faced by people across the globe. These Canadian wellness
companies have focused on providing as well as promoting healthy lifestyle both at the
Corporate and individual level to reduce mental and physical impairment among the greater
population in Canada. All the three companies have a similar vision to improve the health and
well-being by developing innovative products and medicines for every individual.
 Literature Review 7

Reference

Annual Report. (2020). Annual Report 2020 | GSK. Retrieved January 27, 2022, from Gsk.com
website: https://www.gsk.com/en-gb/investors/corporate-reporting/annual-report-2020/
Businesswire. (2018, August 8). Jamieson Wellness Inc. Announces Advancements in Growth
Strategy in China. Retrieved January 27, 2022, from Businesswire.com website:
https://www.businesswire.com/news/home/20180808005778/en/Jamieson-Wellness-
Inc.-Announces-Advancements-in-Growth-Strategy-in-China
Curtis, C. (2019). Healthy minds, happy bodies, successful humans. Retrieved January 27,
2022, from Curtis Health website: https://curtishealth.com/author/charles/
Dun&Bradstreet. (2022). Curtis Personalized Health Management Limited. Retrieved January
27, 2022, from Dnb.com website: https://www.dnb.com/business-directory/company-
profiles.curtis_personalized_health_management_limited.f1e272d29167d892bb9e27177
24d74b4.html
Forbes. (2022). GlaxoSmithKline (GSK). Forbes. Retrieved from
https://www.forbes.com/companies/glaxosmithkline/?sh=8cc40a81409f
Grand View Research. (2020). Canada Corporate Wellness Market Share Report, 2020-2027.
Retrieved January 26, 2022, from Grandviewresearch.com website:
https://www.grandviewresearch.com/industry-analysis/canada-corporate-wellness-
market
GSK Investors. (2020). Investors | GSK. Retrieved January 27, 2022, from Gsk.com website:
https://www.gsk.com/en-gb/investors/
Investor Presentation. (2018). Retrieved from
https://jamiesonwellness.q4cdn.com/227882590/files/doc_presentations/2018/05/JWEL-
Investor-Presentation_May-2018.pdf
Jamieson Values. (2022). Retrieved January 26, 2022, from Jamieson Vitamins website:
https://www.jamiesonvitamins.com/pages/jamieson-values
Jamisons. (2019). About Jamieson Wellness. Retrieved January 26, 2022, from Jamieson
Vitamins website: https://www.jamiesonvitamins.com/pages/about-jamieson