UK Artificial Organs & Bionic Implants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Artificial Organs & Bionic Implants Market Analysis
The United Kingdom artificial organs & bionic implants market is expected to register a CAGR of 2% during the forecast period.
- The COVID-19 pandemic had a significant impact on the market as the pandemic was often associated with heart and kidney failures, which effectively increased the demand for artificial organs. For instance, according to an article published by PubMed Central in September 2021, a study was conducted of patients admitted to 2 hospitals in Derby, United Kingdom, and it was observed that there was a high incidence of acute kidney injury in patients with COVID-19. Thus, the increased number of kidney failures significantly improved the market growth. However, as the pandemic has subsided currently, the studied market is expected to have stable growth during the forecast period of the study.
- Factors such as the increased incidence of disabilities, organ failures, scarcity of donor organs, and technological advancements in artificial organs and bionics are expected to boost the market growth.
- The increasing number of organ failures in the United Kingdom is a major factor driving market growth. For instance, according to the data updated by Kidney Care UK in 2021, it is estimated that around 3.5 million people in the United Kingdom have chronic kidney disease (CKD), and uncontrolled diabetes and high blood pressure are the biggest causes of CKD. It is also estimated that over 68,000 people in the United Kingdom were being treated for kidney failure (also known as stage 5 CKD, where kidney function is less than 15%). Thus, the high kidney failure rate in the country is expected to boost market growth.
- Furthermore, according to an article published by PubMed in August 2022, a study was conducted in the United Kingdom, which showed that the overall pooled incidence of heart failure was 98.5 per 10,000 people every year over a median of 6.1 years of follow-up. Thus, the high incidence of heart failure in the country is also expected to boost the usage of artificial organs during the forecast period of the study.
- Thus, due to the aforementioned factors, such as the rising prevalence of heart and kidney failures, the studied market is expected to experience growth. However, the expensive procedures and the risk of compatibility issues and malfunctions are expected to hinder market growth.
UK Artificial Organs & Bionic Implants Market Trends
Artificial Heart Segment is Estimated to Witness a Healthy Growth Over the Forecast Period
- An artificial heart is a medical device that replaces the human heart. These medical devices are typically used to bridge the time to heart transplantation or to permanently replace the heart in the case that a heart transplant is not possible. The increasing prevalence of heart failure and the rising product launches by key market players are the major factors driving the segment growth.
- The rising prevalence of heart failure is the major factor driving the segment's growth. For instance, according to the data published by the British Heart Foundation (BHF) in 2022, heart failure is a chronic disease that occurs when the heart is unable to pump blood efficiently around the body. It occurs because the heart is damaged or overworked. Some people with minor heart failure may have few or no symptoms.
- People with moderate or severe heart failure often suffer from a number of problems, including shortness of breath, general tiredness, and swelling of the feet and ankles. The source also stated that an estimated 207,851 inpatient episodes of heart failure took place in the United Kingdom in 2021. Thus, the high prevalence of heart failure in the country is expected to boost segment growth.
- Furthermore, according to the data updated by the British Heart Foundation in January 2023, it is estimated that more than 900,000 people in the United Kingdom are living with heart failure. Thus, the high burden of heart failure is expected to boost the usage of artificial hearts during the forecast period of the study.
- Thus, due to the aforementioned factors, such as the rising prevalence of heart failure, the studied segment is expected to experience growth.
Artificial Kidney Segment is Estimated to Witness a Significant Growth Over the Forecast Period
- Artificial kidneys provide an extension to conventional dialysis systems by incorporating aspects of living cells and tissue function to better mimic normal kidneys. The recent advancements in genomic, cellular, and tissue engineering technologies are facilitating the improved design of these systems. Factors such as the rising kidney failure coupled with the rising geriatric population and the rising technological advancements in artificial kidneys are expected to boost segment growth.
- The rising kidney failure in the United Kingdom is expected to enhance segment growth. For instance, according to data updated by the National Kidney Federation (NKF) of the United Kingdom in 2021, it is estimated that around 1 in 10 people with kidney disease develop failure of the kidneys, requiring dialysis or a kidney transplant. Thus, the high prevalence of kidney failure in the country is expected to boost segment growth.
- Furthermore, according to the data updated by National Health Service (NHS) in August 2022, chronic kidney disease (CKD) is considered a very common condition often associated with getting older, and it can affect anyone. It has also been observed that CKD can get worse over time, and eventually, the kidneys may stop working altogether, leading to kidney failure. Thus, the increased risk of kidney failure with the rising geriatric population is also expected to boost segment growth.
- Thus, due to the aforementioned factors, such as the rising prevalence of kidney failures and the rising geriatric population, the studied segment is expected to experience growth.
UK Artificial Organs & Bionic Implants Industry Overview
The UK artificial organs & bionic implants market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Berlin Heart, Cochlear Ltd., Edwards Lifesciences Corporation, Medtronic, Jarvik Heart, Inc., Abbott, Abiomed Inc., and Ekso Bionics.
UK Artificial Organs & Bionic Implants Market Leaders
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Berlin Heart
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Cochlear Ltd.
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Edwards Lifesciences Corporation
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Medtronic
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Jarvik Heart, Inc.
*Disclaimer: Major Players sorted in no particular order
UK Artificial Organs & Bionic Implants Market News
- November 2022: NHS announced that brain-controlled bionic arms that mimic real hand movements will be offered to amputees on the NHS. The newly available bionic arms controlled by electrical brain signals have multi-grip capabilities, enabling a greater range of movements to make day-to-day tasks easier.
- April 2022: Oticon Medical's parent company, Demant, decided to discontinue its hearing implants business and, therefore, has negotiated an agreement with the intention to sell Oticon Medical to Cochlear.
UK Artificial Organs Bionic Implants Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Incidence of Disabilities, Organ Failures and Scarcity of Donor Organs
4.2.2 Technological Advancements in the Artificial Organ and Bionics
4.3 Market Restraints
4.3.1 Expensive Procedures
4.3.2 Risk of Compatibility Issues 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 - in USD)
5.1 By Type
5.1.1 Artificial Organ
5.1.1.1 Artificial Heart
5.1.1.2 Artificial Kidney
5.1.1.3 Cochlear Implants
5.1.1.4 Other Organ Types
5.1.2 Bionics
5.1.2.1 Ear Bionics
5.1.2.2 Orthopedic Bionic
5.1.2.3 Cardiac Bionics
5.1.2.4 Other Bionics
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Berlin Heart
6.1.2 Cochlear Ltd.
6.1.3 Edwards Lifesciences Corporation
6.1.4 Medtronic
6.1.5 Jarvik Heart, Inc.
6.1.6 Abbott
6.1.7 Abiomed Inc.
6.1.8 Ekso Bionics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
UK Artificial Organs & Bionic Implants Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. Artificial organs are made by a human and are implemented in human bodies with living tissue; they are able to perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds.
The UK artificial organs & bionic implants market is segmented by type (artificial organs (artificial heart, artificial kidney, cochlear implants, and other organ types) and bionics (ear bionics, orthopedic bionic, cardiac bionics, and other bionics)).
The report offers the value (in USD) for the above segments.
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UK Artificial Organs Bionic Implants Market Research FAQs
What is the current UK Artificial Organs & Bionic Implants Market size?
The UK Artificial Organs & Bionic Implants Market is projected to register a CAGR of 2% during the forecast period (2024-2029)
Who are the key players in UK Artificial Organs & Bionic Implants Market?
Berlin Heart, Cochlear Ltd., Edwards Lifesciences Corporation, Medtronic and Jarvik Heart, Inc. are the major companies operating in the UK Artificial Organs & Bionic Implants Market.
What years does this UK Artificial Organs & Bionic Implants Market cover?
The report covers the UK Artificial Organs & Bionic Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the UK Artificial Organs & Bionic Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UK Artificial Organs & Bionic Implants Industry Report
Statistics for the 2024 UK Artificial Organs & Bionic Implants market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. UK Artificial Organs & Bionic Implants analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
