Canada Artificial Organs and Bionics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented By Type (Artificial Organ and Bionics)

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 6.5 %

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Market Overview

The major factors responsible for the growth of the artificial organs and bionics market includes rising incidence of organ failures and scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue. The demand for organ donors is ever increasing, and is very high compared to the actual supply. According to the Canadian Institute for Health Information (CIHI), in 2018, there were around 4,351 people on a waiting list for an organ transplant, out of which 223 people died while waiting for a transplant. Furthermore, advances in technology, and increased awareness of organ donation and transplantation have contributed to a high number of transplants. But, the wide gap between supply and demand continues. However, other factors, such as the high cost of procedure and risk of compatibility issues and malfunctions are expected to restrain the market growth.

Scope of the report

As per the scope of the report, Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. These devices are able to replicate or augment the natural function of the organ. Bionics refers to replacement or improvement of body parts by mechanical kinds. 

By Type
Artificial Organ
Artificial Heart
Artificial Kidney
Artificial Lungs
Cochlear Implants
Other Organ Types
Bionics
Vision Bionics
Ear Bionics
Orthopedic Bionic
Cardiac Bionics

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Key Market Trends

Artificial Kidney Segment is Expected to Show Better Growth in the Forecast Years

Based on Artificial Organ, the market is segmented into Artificial Heart, Artificial Kidney, Artificial Lungs, Cochlear Implants and Other Organ Types. The high growth of the segment is attributed to rising number of transplant surgeries and large population suffering from kidney disease. According to Canadian Institute for Health Information (CIHI), in 2018, around 40,289 Canadians (excluding Quebec) were living with end-stage kidney disease, an increase of 35% since 2009. The kidney transplant offers the best possible improvement to health and quality of life for many people living with kidney failure. However, the need for organ transplantation is much greater than the available supply. As per The Kidney Foundation of Canada, in 2018, over 4300 canadians were on a waiting list, out of which, 78% were waiting for a kidney transplant. Hence, owing to these factors, the segment is expected to show rapid growth over the forecast period. 

Canada Artificial Organs and Bionics Market 1

Competitive Landscape

The market studied is moderately competitive and there are several local as well as international companies that are operating in Canada artificial organs and bionics market. The major players are Asahi Kasei Medical Co. Ltd, Baxter International Inc., Berlin Heart GmbH, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic PLC and Ossur.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidence of Organ Failures

      2. 4.2.2 Scarcity of Donor Organs

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Procedure

      2. 4.3.2 Risk of Compatibility Issues and Malfunctions

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Artificial Organ

        1. 5.1.1.1 Artificial Heart

        2. 5.1.1.2 Artificial Kidney

        3. 5.1.1.3 Artificial Lungs

        4. 5.1.1.4 Cochlear Implants

        5. 5.1.1.5 Other Organ Types

      2. 5.1.2 Bionics

        1. 5.1.2.1 Vision Bionics

        2. 5.1.2.2 Ear Bionics

        3. 5.1.2.3 Orthopedic Bionic

        4. 5.1.2.4 Cardiac Bionics

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Asahi Kasei Medical Co, Ltd.

      2. 6.1.2 Baxter International Inc.

      3. 6.1.3 Berlin Heart GmbH

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Ekso Bionics Holdings Inc.

      6. 6.1.6 Getinge AB

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 Ossur

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
The market studied is moderately competitive and there are several local as well as international companies that are operating in Canada artificial organs and bionics market. The major players are 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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Frequently Asked Questions

The Canada Artificial Organs and Bionics Market market is studied from 2018 - 2026.

The Canada Artificial Organs and Bionics Market is growing at a CAGR of 6.5% over the next 5 years.

Asahi Kasei Medical Co, Ltd., Baxter International Inc., Boston Scientific Corporation, Medtronic PLC, Ossur are the major companies operating in Canada Artificial Organs and Bionics Market.

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