Market Trends of Canada Minimally Invasive Surgery Devices Industry
Gastrointestinal Segment Expects to Witness Significant Growth Over the Forecast Period
The gastrointestinal segment is expected to witness significant growth in the minimally invasive surgery market over the forecast period due to factors such as the rising incidence of gastrointestinal diseases among the population.
The major diseases associated with the gastrointestinal system are irritable bowel syndrome (IBS), Crohn's disease, peptic ulcers, and others. According to the 2022 update by CDHF, GERD is a common disorder that has a significant impact on the Canadian community. The people suffering from GERD symptoms are absent from work 16% of each year, which represents USD 21 billion in costs or 1.7 billion hours of lost productivity annually. As per the source above, approximately five million Canadians experience heartburn and/or acid regurgitation at least once each week. Such a burden of GERD in the country is accelerating the demand for endoscopic treatments in Canada, fueling the market growth.
Additionally, the growing prevalence of cancer related to the gastrointestinal tract, such as colon and rectum cancers, is expected to drive the demand for minimally invasive procedures. For instance, according to 2022 statistics published by the Canadian Cancer Society, about 4,100 Canadians (2,600 men and 1,450 women were diagnosed with stomach cancer in 2022. The high burden of gastric cancer among the population raises the demand for technologically advanced endoscopes to perform the surgery, which in turn is anticipated to augment the segment growth over the forecast period.
Furthermore, new product launches in the country increase the availability of advanced surgical devices in the market. This is also anticipated to boost the segment's growth over the forecast period. For instance, in November 2022, PENTAX Medical, a healthcare company focused on diagnostic and therapeutic endoscopy solutions, launched their new Performance Endoscopic Ultrasound (EUS) system, a combination of the new ARIETTA 65 PX ultrasound scanner and their best-in-class J10 Series Ultrasound Gastroscopes in Canada.
Thus, owing to the aforementioned factors, such as the high burden of gastrointestinal diseases and new product launches, the studied segment is expected to grow significantly during the forecast period.
Robotic-assisted Surgical Systems Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The robotic-assisted surgical systems segment is expected to grow over the forecast period owing to factors such as the rising prevalence of chronic diseases, rising technological advancements, and the rising company focus on developing advanced products in the country.
The complex procedures, such as orthopedic replacements or thoracic surgery, performed in the country increase the demand for robotic surgery that provides a clear view of the deep tissues and structures. For instance, according to the data published by the Canadian Institute for Health Information, in December 2022, about 700 outpatient hip and knee replacements were performed during 2021-2022 in Canada. In addition, as per the same source, 62% of patients in Canada received joint replacements between October 2020 and September 2021. Thus, the high number of replacement procedures is expected to fuel the market growth over the forecast period.
Increasing adoption of robotic-assisted surgery systems, increased awareness of the advantages of minimally invasive procedures, and rising product approvals in the country are all increasing the availability of robotic surgical systems in the market. This is anticipated to increase its adoption during complex surgeries, hence propelling the market's growth. For instance, in December 2021, Medtronic Canada ULC received the Health Canada license for the Hugo robotic-assisted surgery (RAS) system for use in urologic and gynecologic laparoscopic surgical procedures. Also, in October 2021, Medtronic Canada ULC, a subsidiary of Medtronic plc, launched the Mazor X System for robotic-guided spine surgery. The Mazor platform, one of the first specialized robotic-assisted spine surgery technologies that offers a fully integrated procedural solution for surgical planning, workflow, execution, and confirmation, is the first dedicated robotic-assisted spine surgery platform being launched in Canada.
Therefore, the studied market is anticipated to grow over the forecast period due to the aforementioned factors, such as the high burden of chronic diseases, increasing new product launches, and approvals.
