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Longevity Industry in Canada Q4 2021

Longevity Industry in Canada Q4 2021

Aging Analytics Agency Provides Insights into the 760+ Companies, 470+ Investors, 40+ Non-Profits and 20+ R&D Centres Involved in Longevity Industry in Canada

Longevity Industry in Canada Q4 2021 Report summarises key observations on the new trends on the market and research area that engage in the Longevity Industry”
— Aging Analytics Agency
LONDON, UNITED KINGDOM, October 26, 2021 / -- Aging Analytics Agency in partnership with Canadian Longevity Association releases joint, open-access, 55-page report โ€“๐™‡๐™ค๐™ฃ๐™œ๐™š๐™ซ๐™ž๐™ฉ๐™ฎ ๐™„๐™ฃ๐™™๐™ช๐™จ๐™ฉ๐™ง๐™ฎ ๐™ž๐™ฃ ๐˜พ๐™–๐™ฃ๐™–๐™™๐™– ๐™Œ4 2021 โ€“ that contains information about the Top Companies involved in Longevity Industry in Canada, organising into 21 main categories: InsurTech, AgeTech, Longevity Biomarkers, Gene Therapy, Space Medicine, Geroscience, FemTech, Deep Dentistry, Regenerative Medicine, FinTech Services, Deep Diagnostics, Clinical Data Management, NeuroTech, PharmTech, Advanced Cosmetics, Wellness & Fitness, Mental Health, Telemedicine, AI for Longevity, P4 Medicine.

๐‹๐ข๐ง๐ค ๐ญ๐จ ๐ญ๐ก๐ž ๐‹๐จ๐ง๐ ๐ž๐ฏ๐ข๐ญ๐ฒ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง ๐‚๐š๐ง๐š๐๐š ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

๐‹๐ข๐ง๐ค ๐ญ๐จ ๐ญ๐ก๐ž ๐ˆ๐ง๐ญ๐ž๐ซ๐š๐œ๐ญ๐ข๐ฏ๐ž ๐Œ๐ข๐ง๐๐Œ๐š๐ฉ:

In terms of development of the Longevity Industry, Canada is ahead of the curve due to the comprehensive senior inclusion established by the government. It is expected that a โ€œMinister of Seniorsโ€ will become a typical portfolio in the coming decade. The fastest-growing demographic group in Canada is seniors. By 2031 it can be expected that the number of seniors will reach one million and, as a result, senior citizens will represent almost a quarter of the Canadian population.

Meeting the expanding and changing needs of Canada's ageing population will necessitate significant cooperation and effort across local, provincial, and territorial governments, with the federal government serving as a key leader. Longevity Companies are expected to become a strong basis of the development of the future Longevity initiatives and strategies that might be implemented not only in Canada but globally.

The analytical case study offers:

โƒ A comprehensive analysis of BioTech, Pharmaceutical companies, Healthcare companies, and R&D institutions and their partnerships, predicting the development of the relevant market and determining the degree of technological relevance.

โƒ Analysis of the Canadian legal basis fuelling the development of the Longevity industry and possible prospects of improvement.

Major business takeaways from the report include the following:
โ€ข Growing Interest in the Longevity Industry. As a result of ageing and the upcoming Silver Tsunami, there has been increasing interest in the Longevity Industry. Currently, the size of the global market is estimated at $33T. The major players include national healthcare companies and Longevity-focused financial companies.

โ€ข While the global Longevity Economy is projected to reach $33T by 2026, the Age-Tech segment alone is projected to reach $2.7T by 2025. This, in turn, implies an annual growth rate of 21% in the global Age-Tech market, which is attributable to the development of the senior care sector enhanced by IT, FinTech, and other digital technologies.

โ€ข Canadaโ€™s Healthcare spending has steadily increased over time. By the end of 2019, Canada was spending around 11.5% of GDP on healthcare. People over 65 are one-fifth of the population but half of health spending. The Conference Board of Canada estimates that provincial and territorial governments will need to find an extra $93 billion in funding for health care over the next 10 years because of population ageing.

Some key points from the analysis include the following:
โ€ข Most of the Longevity companies in Canada are involved in the P4 Medicine sector - around 25.4% of all companies. Another 12.8% of companies develop AI for Longevity technologies. Telemedicine and Mental Health solutions are also near the top by number of companies - with 9% and 8.2% respectively.

โ€ข AgeTech companies in Canada mainly operate in the Independence subsector. More than a quarter (27.5%) of all AgeTech companies in Canada help seniors maintain their lifestyle without outside support. Moreover, AgeTech is used in the Government Programs, supporting affordable Internet services and various online platforms to connect caregiver with care receiver: The Assistive Devices Program (ADP), Healthy Aging CORE, The Health Care Connect Program and The Connecting Families.

โ€ข Ageing is a global problem of developed countries, not unique to the Canadian population. Canada should develop an explicit Longevity Industrial Strategy and National Longevity Strategy so that the government will be able to maximize the health, wealth, and wellness of its citizens. One of the possible solutions might be UK`s APPG model.

Canada is ranked sixth by the amount of investment into longevity companies. The level of investment into longevity companies in Canada reached $5B. However, Canada ranked third by the number of companies, thus despite having more companies than China, India, and Switzerland, total investments are lower.

Currently, 37% of all longevity investors are accounted for Canadian companies. The government should move forward with the creation of a Longevity Industry Strategy, which will stimulate investment in emerging businesses such as biotechnology, artificial intelligence, geroscience, and others. It's worth noting that Canada developed the first national AI strategy in the world.

๐€๐›๐จ๐ฎ๐ญ ๐‚๐š๐ง๐š๐๐ข๐š๐ง ๐‹๐จ๐ง๐ ๐ž๐ฏ๐ข๐ญ๐ฒ ๐€๐ฌ๐ฌ๐จ๐œ๐ข๐š๐ญ๐ข๐จ๐ง:
The Canadian Longevity Association is a non-profit organization that aims to strengthen and grow the longevity industry and ecosystem in Canada through increasing public awareness and support, encouraging and funding research, assisting and advocating for established and startup longevity companies, informing and influencing government policy in a positive direction, and collaborating with like-minded organizations to increase the healthy longevity of all Canadians.

๐€๐›๐จ๐ฎ๐ญ ๐€๐ ๐ข๐ง๐  ๐€๐ง๐š๐ฅ๐ฒ๐ญ๐ข๐œ๐ฌ ๐€๐ ๐ž๐ง๐œ๐ฒ:
Aging Analytics Agency is the worldโ€™s premier provider of industry analytics on the topics of Longevity, Precision Preventive Medicine, the Economics of Ageing, and the convergence of technologies such as AI, Blockchain and Digital Health and their impact on the healthcare industry.

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Emma Brodina
Aging Analytics Agency
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