The Medical Technologies IKC works to reduce the risk and uncertainty associated with new technologies, with a strategic focus on the regenerative device sector. Our mission is to secure investment from the private sector to develop commercial products from world-leading research and deliver economic benefits. We work with incremental, disruptive and, increasingly, convergent technologies, to support companies and researchers through the commercialisation process.
Definition: ‘Regenerative devices: Regenerative therapies delivered as Class III medical devices’
Regenerative devices is an emerging technology area with huge market potential. It belongs within the area of regenerative medicine in which the UK has the potential to be a global leader.
The Medical Technologies IKC is focusing on the regenerative devices sector because of the potential to commercialise technologies more quickly and cost effectively. Our experts take a strategic approach to selecting the right technologies to invest in – identifying cost effective healthcare interventions with shorter translation pathways and lower development costs. It takes, typically, fewer than 10 years to translate regenerative devices into the market-place and costs less than £10m – much less than all other forms of regenerative and cell therapies.
The life expectancy and average age of the population continues to increase as a result of advances in biomedicine and healthcare.
This creates significant economic and societal challenges in ensuring a high quality of life for our aging population. The Medical Technologies IKC is addressing these needs and expectations, helping to ensure an active lifestyle for “fifty active years after fifty”. We focus on areas of clinical need in musculoskeletal disease, dentistry and cardiovascular disease, which have been strategically prioritised by the University and the Leeds Teaching Hospitals NHS Trust.
Since 2009, the Medical Technologies IKC has focused on advancing class three devices and regenerative devices for treatment of musculoskeletal disease, advanced wound care products, dental interventions and cardiovascular devices and grafts. It has also supported the research and development of enabling and companion technologies.
The global market in medical technologies (currently £300bn/year) is predicted to grow by over 50% by 2025.
The potential growth of the UK medtech industry economic output, in line with global market growth, is an increase from £20bn in 2019 to £30bn by 2025.
The growth in these market segments will involve increasing convergence of different and diverse technologies (including e.g. digital, advanced materials, AI and data analytics), which will be integrated into more sophisticated and innovative medical products, devices, services and systems. These diverse technologies will emerge from the research community, from health-tech industry and from other sectors.
New technology opportunities are emerging from universities, industry and from other sectors and being exploited by new start-ups, spin-outs and existing medical device companies.
The Medical Technologies IKC is making a significant contribution to this industry. Our main objective is to secure investment from the private sector to develop these technologies. By helping companies access knowledge, capability and people, and by facilitating clinical collaborations, we can help bridge the gap between fundamental research and the development of technology that’s fit for purpose and ready for serious industrial investment. Through our proof of concept projects and our strategic collaborations, we aim to reduce risk and uncertainty for companies, allowing them to invest with greater certainty to progress a technology beyond the validation stage all the way through to launch and subsequent commercial viability.