Market Size of UK Artificial Organs & Bionic Implants Industry
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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 Size Summary
The United Kingdom's artificial organs and bionic implants market is poised for stable growth, driven by factors such as the increasing incidence of organ failures, disabilities, and technological advancements in the field. The COVID-19 pandemic significantly impacted the market by elevating the demand for artificial organs due to its association with heart and kidney failures. As the pandemic's effects have waned, the market is expected to grow steadily, supported by the rising prevalence of chronic conditions like kidney disease and heart failure. The scarcity of donor organs further propels the need for artificial solutions, while advancements in technology enhance the efficacy and appeal of these medical devices.
The market is characterized by moderate competition, with key players such as Berlin Heart, Cochlear Ltd., and Medtronic leading the charge. The segment growth is particularly notable in artificial hearts and kidneys, driven by the high prevalence of heart and kidney failures in the UK. Innovations in genomic, cellular, and tissue engineering technologies are improving the design and functionality of artificial organs, thereby boosting their adoption. Despite challenges like the high cost of procedures and potential compatibility issues, the market is expected to expand, with significant contributions from both the heart and kidney segments.
UK Artificial Organs & Bionic Implants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increased Incidence of Disabilities, Organ Failures and Scarcity of Donor Organs
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1.2.2 Technological Advancements in the Artificial Organ and Bionics
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1.3 Market Restraints
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1.3.1 Expensive Procedures
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1.3.2 Risk of Compatibility Issues and Malfunctions
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD)
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2.1 By Type
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2.1.1 Artificial Organ
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2.1.1.1 Artificial Heart
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2.1.1.2 Artificial Kidney
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2.1.1.3 Cochlear Implants
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2.1.1.4 Other Organ Types
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2.1.2 Bionics
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2.1.2.1 Ear Bionics
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2.1.2.2 Orthopedic Bionic
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2.1.2.3 Cardiac Bionics
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2.1.2.4 Other Bionics
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UK Artificial Organs & Bionic Implants Market Size 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.