The Aussie defender was forced off after 78 minutes of Saturday's 2-1 victory over the Shrimpers following an aerial tussle with striker Liam Dickinson which left him unconscious and led to nine minutes of stoppage time being added at the end.
Cansdell-Sherriff was taken straight to hospital and later released, but faces a lengthy lay-off.
Southend striker Liam Dickinson, already on a yellow card, did not receive a second caution from match official Dean Whitestone, and has insisted it was an accidental clash which was backed up by Blues boss Paul Sturrock..
Manager Graham Turner told www.shrewsburytown.com: "The best case scenario is four to six weeks. He's got a nice shiner, a bit of a lump on the side of his head and he took a bit of a battering. He came in on Monday and he's due to see a specialist, so we'll see what the outcome of those visits are. At the moment it looks likely he won't need surgery, but the chances are it will be four to six weeks."
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