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Canada Artificial Organs and Bionics Market - Growth, Trends, and Forecasts (2023-2028)

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  • 70 Pages
  • April 2023
  • Region: Canada
  • Mordor Intelligence
  • ID: 4997195
The Canadian artificial organs and bionics market is expected to register a CAGR of 6.3% over the forecast period.

The COVID-19 outbreak significantly impacted the market initially, as elective and semi-urgent medical care and procedures were discontinued to maintain the patient care capacity. Thus, the initial period of the pandemic adversely impacted the market due to a decrease in organ transplantations. For instance, according to the study published in BMC Medical Ethics in October 2021, the organ and tissue donation and transplantation (OTDT) system faced ethical challenges in Canada due to pandemic, such as risks of infection and resource allocation. However, the easing of lockdowns and a growing number of transplants due to pending cases are likely to accelerate the market's growth during the forecast period. According to the study published in the Canadian Medical Association Journal in September 2021, there was feasibility for lung transplantation in patients following severe acute COVID-19 infection in Toronto. Therefore, during the later phases of the pandemic, the market grew due to the rising number of lung transplantation. Thus, the market is anticipated to reach the pre-pandemic levels by mid-2023.

The factors driving the market's growth include the rising incidence of organ failure and scarcity of organ donors.

The scarcity of natural organs for donation in Canada is fueling the market. For instance, according to the Canadian Institute of Health Information, published in June 2022, a total of 4,043 Canadians were waiting for transplants as of December 31, 2021. According to the same source, 57% of people were still on the wait list, while 43% were temporarily put on hold for medical or other reasons.

The rising investments from the Canadian government for the development of artificial organs is expected to drive the market's growth. For instance, in April 2022, the Government of Canada invested CAD 2 million (USD 1.4 million) for research on innovative organ and tissue donation projects to reduce the waiting times for organ donations.

Thus, due to the scarcity of donor organs and rising initiatives from the government, the market is expected to register significant growth over the forecast period. However, the high cost of the procedure and the risk of compatibility and malfunctions may slow down the market's growth.

Key Market Trends

Artificial Kidney Segment is Expected to Witness Significant Growth During the Forecast Period

Renal replacement therapy (Artificial Kidney) mimics the complex structure of the human kidney while maintaining the patient's quality of life. Artificial kidneys may be wearable or implantable options for kidney replacement therapy.

The artificial kidney segment is expected to register significant growth over the forecast period due to the rising number of transplant surgeries and the large population suffering from kidney diseases. According to the Canadian Institute for Health Information 2022, about 1,673 kidney transplants were performed in the country, and 3,060 people were waiting for a transplant as of December 31, 2021. According to the same source, about 105 people died in 2021 while waiting for a transplant. Therefore, such a huge demand for kidney transplantation in Canada is expected to drive the segment's growth.

The high prevalence of chronic kidney diseases is expected to drive the segment's growth. Chronic kidney disease is a result of kidney damage or decreased kidney function for three months or more. As per the Kidney Foundation of Canada 2022, 1 in 10 Canadian has kidney disease. Thus, such a high prevalence is driving the demand for artificial kidney transplants.

Ear Bionics May Show Healthy Growth During the Forecast Period

Ear bionics work by translating sound into nerve impulses that are transmitted to the brain, thereby assisting those with severe to profound hearing loss. For these devices, electrodes are implanted inside the cochlea and a transmitter is put beneath the skin behind the ear (a cone-shaped tube in the inner ear).

The rising demand for ear bionics led to increased initiatives from key market players to launch their products, thus driving the market's growth. For instance, in November 2022, the Cochlear Nucleus 8 Sound processor developed by Cochlear Limited was approved by the US FDA. By the end of 2022, the Nucleus 8 Sound Processor was marketed in the United States and Canada. Such launches and approvals in Canada are expected to drive the segment's growth.

According to Statistics Canada, in October 2021, 38% of adults aged 20-79 years had hearing loss, while 37% had tinnitus. Such a huge incidence of hearing problems in Canadian adults is expected to boost the segment's growth due to the rising development of hearing aids and bionics in the region.

Therefore, the growing number of hearing problems and the development of bionics for hearing are expected to drive the segment's growth.

Competitive Landscape

The Canadian artificial organs and bionics market is moderately competitive due to the presence of multiple companies operating in the country. The competition in the market is due to the rising launch of products by market players and key strategies from international and local companies in the market. Some of the players in the market include Asahi Kasei Medical Co. Ltd, Baxter International Inc., Berlin Heart GmbH, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic PLC, and Ossur.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Organ Failure
4.2.2 Scarcity of Donor Organs
4.3 Market Restraints
4.3.1 High Cost of Procedure
4.3.2 Risk of Compatibility and Malfunctions
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Artificial Organ Artificial Heart Artificial Kidneys Artificial Lungs Cochlear Implants Other Organ Types
5.1.2 Bionics Vision Bionics Ear Bionics Orthopedic Bionic Cardiac Bionics
6.1 Company Profiles
6.1.1 Asahi Kasei Medical Co. Ltd
6.1.2 Baxter International Inc.
6.1.3 Berlin Heart GmbH
6.1.4 Boston Scientific Corporation
6.1.5 Ekso Bionics Holdings Inc.
6.1.6 Getinge AB
6.1.7 Medtronic PLC
6.1.8 Ossur
6.1.9 Sonova Holding AG
6.1.10 Med-El Elektromedizinische Gerate GmbH

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Asahi Kasei Medical Co. Ltd
  • Baxter International Inc.
  • Berlin Heart GmbH
  • Boston Scientific Corporation
  • Ekso Bionics Holdings Inc.
  • Getinge AB
  • Medtronic PLC
  • Ossur
  • Sonova Holding AG
  • Med-El Elektromedizinische Gerate GmbH